• Best Annual Travel Insurance Plans

    Traveling, be it for work or pleasure, comes with its own unique set of benefits. Not only can it leave you with a new perspective on life, it can help expose you to new cultures and traditions. Whether it’s a week-long vacation or a quick conference you need to attend, traveling is an exciting experience. But traveling can be an expensive affair. Even when you book your tickets months in advance, you still feel jittery around the time of travel and missing your flight would be the last thing you want to do.

    Then there’s the worry of something happening to you while flying. Or getting caught in a long layover or having your connecting flight be delayed leaving you stranded. Not to forget the worry of your baggage being stolen or damaged. But traveling doesn’t have to be a harrowing experience. Travel insurance plans aim to cover your most basic needs as well as throw in protection for scenarios that may never happen at all.

    Certain credit cards offer complimentary insurance but the scope of such policies is quite limited when compared to standalone insurance policies. Below are some travel insurance policies that provide adequate cover and peace of mind.

    Best Annual Travel Insurance Policies in Singapore

    Here are some of the top travel insurance policies that we think give you the best cover and scope:

    Etiqa Insurance

    The Etiqa travel insurance comes in three packages which are Basic, Economy, and Business. The policy offers cover for major inconveniences allowing you to focus on your travels and create joyful memories.

    Advantages of the policy You will get the following benefits on the Etiqa Travel Insurance Policy:

    • Different packages: Etiqa travel insurance offers you three packages to choose from which are Basic, Economy, and Business.
    • Inclusive: The policy is affordable and provides cover for your spouse as well as up to 8 children. All children under the age of 18 will be covered in this policy. Children up to the age of 25 can also be covered under this policy if they are a full-time student in a recognized tertiary institute.
    • Freedom and flexibility: The policy allows room for flexibility and changes in travel plans. Annual Multi-trip family plan policyholders are not required to travel together to enjoy the coverage.
    • High cover: The policy provides a cover of up to S$400,000 for personal accidents, and up to S$1 million for reimbursement of medical expenses incurred overseas and emergency medical evacuation, among others.

    Disadvantages of the policy Here are some components where the policy doesn’t do too well:

    • Low cover for Flight overbooking: The policy provides a low cover of S$100 for cases of flight overbooking. The cover provided is same regardless of the package you get.

    Allianz Global Assistance Travel Insurance

    The Allianz Global Assistance travel insurance comes in three packages which are Bronze, Silver, and Gold. The policies offer high covers and affordable premiums to suit your needs.

    Advantages of the policy You will get the following benefits on the Allianz Global Assistance Travel Insurance Policy:

    • Multiple packages: The policy is available in three different packages which are Bronze, Silver, and Gold. The policies can be purchased either as a single trip policy with a valid cover for 180 days or as an annual multi-trip policy with a valid cover of up to 90 days per trip.
    • High cover: The policy provides a cover of up to S$400,000 for medical expenses due to sickness and the cover under the Silver plan is S$1 million. The cover for medical expenses incurred overseas due to an accident is S$400,000 for the Bronze plan and S$1 million for the Silver plan.

    Disadvantages of the policy – Here are some components where the policy doesn’t do too well:

    • Conditions attached to several benefits: The policy does state that the cover provided for luggage delay or travel delay is S$200 and S$100 respectively. However, the cover is valid only for every set of 6 hours that the luggage or travel has been delayed. This means that if your luggage or travel has been delayed by 11 hours, you’ll only get cover for the first six hours that was completed. There is a cap on the maximum cover received as well.

    AXA SmartTraveller Insurance

    This travel insurance policy gives you a range of benefits from medical expenses to travel delays and curtailment. The policy offers a choice of packages to suit your needs.

    Advantages of the policy You will get the following benefits on the AXA SmartTraveller Travel Insurance Policy:

    • High cover: The policy offers a cover of up to S$600,000 for medical expenses incurred overseas if you injure yourself or fall sick overseas and S$60,000 for medical expenses incurred post-trip. Trip Curtailment It’s OK. You’ll get a cover of up to S$20,000 for travel disruptions experienced and a cover of S$2,000 for travel and baggage delays. Travel cancellation can get you a cover of up to S$12,000 and up to S$10,000 for lost baggage.
    • Flexible packages: The policy can be purchased either as a single trip policy with a validity of 182 days or an annual multi-trip policy with a validity of 92 days per trip. The policy can cover two adults and up to 9 children.

    Disadvantages of the policy Here are some components where the policy doesn’t do too well:

    • Add-on benefits: While the policy does provide cover for rental vehicle excess, it is only offered as an add-on feature and will have to be purchased separately adding to the cost of the policy.

    American Express My VoyageGuard

    This travel insurance from American Express is underwritten by Chubb and offers a range of benefits that aim to make your travel a hassle-free experience.

    Advantages of the policyYou will get the following benefits on the American Express My VoyageGuard Travel Insurance Policy:

    • High cover: The policy offers a cover of up to S$125,000 for accidental death or total and permanent disability and up to S$500,000 for overseas medical expenses. The policy also offers a personal liability cover of S$500,000.
    • Multiple packages: The policy comes in three packages which are Essential, Standard, and Superior. Each package offers varying levels of cover with the superior package providing the maximum benefits.

    Disadvantages of the policy – Here are some components where the policy doesn’t do too well:

    • Low areas of cover: The Essential policy package albeit marketed as a basic policy lacks many areas of cover including lifestyle benefits such as rental vehicle excess, cover for sports gear such as winter sports equipment or golf equipment. To acquire a policy that offers these benefits, one must purchase either the Standard or the Superior policies which cost significantly higher.

    MSIG TravelEasy Insurance

    This travel insurance from MSIG offers a range of benefits that allow you to focus on your travel and gives you peace of mind.

    Advantages of the policy You will get the following benefits on the MSIG TravelEasy Travel Insurance Policy:

    • Areas of cover: The policy offers cover of S$5,000 for trip cancellation, S$3,000 for damaged luggage or delayed luggage, S$200,000 for death or total permanent disablement and S$150,000 for overseas medical expenses.
    • Multiple packages: the policy comes in multiple packages which are Premier, Elite, and Standard packages that can be purchased either as a single trip plan or an annual multi-trip plan.

    Disadvantages of the policy Here are some components where the policy doesn’t do too well:

    • Cover for damaged baggage: The policy does provide cover for baggage damage but will not provide any cover if the damaged luggage or item is a business good or damage to property caused by seizure of luggage through customs.

    5 Best Annual Travel Insurance Plans in Singapore

    Name of the account Coverage Benefits
    ETIQA Basic S$200,000 for Death and Total Permanent Disability, S$200,000 for overseas medical coverage Covers sky diving and hiking under 3000 metres Provides cover for terrorism
    Allianz Global Assistance Travel Insurance Bronze S$35,000 for Death and Total Permanent Disability, S$400,000 for overseas medical coverage Covers leisure activities except skiing and skydiving Provides up to S$150 cover for rental vehicle excess
    AXA Direct SmartTraveller Essential S$250,000 for Death and Total Permanent Disability, S$300,000 for overseas medical coverage Covers sky diving and hiking under 3000 metres and scuba diving under 30 metres Provides cover for terrorism
    American Express My VoyageGuard Essential S$125,000 for Death and Total Permanent Disability, S$500,000 for overseas medical coverage Covers sky diving and hiking and other leisure activities Provides cover for terrorism
    MSIG TravelEasy Standard S$150,000 for Death and Total Permanent Disability, S$250,000 for overseas medical coverage Provides up to S$500 cover for rental vehicle excess

    How to Choose the Best Travel Insurance Policy for Your Travels?

    Here are some tips on how to choose the right policy for you:

    • When it comes to choosing a travel insurance plan, most people consider it as a mandatory requirement and opt for the first one they come across. This should be avoided as you need to put some thought and research into your policy.
    • The first thing you need to consider is your destination itself. The premium can change depending on the country that you are planning to visit.
    • Secondly, you need to take into account the duration of your stay. While single trip plans are cheaper upfront, the annual multi-trip plans are slightly more expensive but give you the added advantage of being covered for multiple trips within the policy tenure.
    • Next, you need to take into account what you’d be doing on your trip. Will it be a laid back vacation or will it be an adventurous one spent hiking or rafting? Basic travel plans will not cover certain leisure activities and as such you need to ensure your plan can fill in the gaps where necessary.
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