With travel and tourism growing into a huge industry, the connectivity between places has also grown. With the modern transportation facilities, it is now indeed possible to go around the world in eighty days. But to enjoy complete peace of mind when travelling, you must be sure that all your travel related risks are well taken care of. From minor mishaps like baggage delay to catastrophes like a natural disaster, you should be prepared to face any kind of uncertainties. A travel insurance will ensure that you and your family are taken care of while travelling.
Overview of HSBC Travel Insurance
HSBC Singapore opened its first branch in Singapore in 1877. A Qualifying Full Bank, HSBC Singapore is a prominent player in the financial services front. HSBC caters to the diverse banking needs of corporations and retail customers by offering services in retail banking, wealth management, investment, insurance and markets services. HSBC’s global network covers over 73 countries with 6,100 offices worldwide.
With HSBC SmartTraveller travel insurance scheme, customers can enjoy a total peace of mind when travelling for vacation or business. Benefit enhancement, comprehensive coverage and unique features will ensure that you get the best value for the insurance.
Types of HSBC Travel Insurance
HSBC travel insurance can be availed for a single trip or an annual trip. Under single and annual trip, detailed insurance plans for family and individuals is offered. The major classification of plans is as follows.
- Comprehensive family/individual plan for single/annual trips.
Provides enhanced coverage all travel associated risks.
- Essential family/individual plan for single/annual trips.
This plan covers basic risks and provides essential protection.
Features and Benefits of HSBC Travel Insurance
HSBC’s SmartTraveller comes loaded with unique benefits and features which will guarantee that you and your family are well covered against travel risks. Here are some of the advantages offered by HSBC travel insurance that makes it one of the most sought-after product in the insurance market.
- Enhanced cover for leisure amateur sports activities like bungee jumping, skydiving and parachuting.
- The personal accident cover that comes with SmartTraveller insurance scheme starts 3 hours before your departure.
- Trip Postponement benefit right from 30 days prior to the departure date.
- Up to S$600,000 coverage for medical expenses whilst overseas including costs for dental treatment.
- Reimbursements to replace essential items in a lost baggage. Also, the insurance pays up to S$7,000 for lost personal effects.
- Travel diversion and travel misconnection due to delays of a public transport are covered.
- HSBC travel insurance offers up to S$3,000 for lost or damaged golf clubs while overseas.
- Coverage of up to S$12,000 for unrecoverable deposits that come under trip cancellations.
- For trip curtailment even if the insured has to remain overseas for medical treatment, the insurance pays up to S$12,000.
HSBC Travel Insurance Coverage
The summary of benefits as offered by HSBC’s SmartTraveller insurance scheme is described below.
PERSONAL ACCIDENT COVER
- A comprehensive cover is offered against accidental death and total permanent disablement.
- The insurance also pays double for death due to an accidents involving a public transport whilst overseas.
- As a tuition grant for up to a maximum of 4 dependent children, S$8,000 and S$4,000 is offered under the comprehensive and essential scheme respectively, up on the death of the insured parent while overseas.
MEDICAL AND DENTAL EXPENSES COVER
- Reimbursement will be provided for the treatment of pregnancy related illness and treatment by a Chinese Physician or chiropractor.
- As overseas hospital allowance, the insurance pays S$200 per day for hospitalization.
- Under the hospital visit benefit, the travel and accommodation costs of a relative or friend to visit the insured person during hospitalization is covered.
- In case of the insured’s death whilst overseas, the travel and accommodation costs for a relative or friend to assist in the death arrangements are covered.
- For a friend or relative to accompany the children home if the insured is hospitalized, the travel and accommodation costs are covered under child care benefits.
- As a special grant, a lump sum of S$8,000 under comprehensive cover and S$4,000 under essential cover is offered upon the death of the insured while overseas.
- While undergoing medical treatment in Singapore, reimbursement up to S$10,000 is offered. Also, the insurance pays up to S$100 per day for hospitalization in Singapore.
EMERGENCY EVACUATION AND MEDICAL ASSISTANCE COVER
- Unlimited coverage is offered for emergency medical evacuation and medical repatriation.
- HSBC Travel Insurance also pays for burial and cremation overseas and also the cost for transporting mortal remains back to Singapore.
TRAVEL INCONVENIENCE COVER
Under the travel inconvenience cover, HSBC’s SmartTraveller insurance offers comprehensive coverage for the following.
- Reimbursements up to S$50 per item for purchase of essential items.
- A cover of up to S$800 for loss of baggage and personal effects including laptops, wireless handheld devices and mobile phones.
- For baggage delays, S$200 for every 6 hours and a maximum of S$200 if the delay is overseas.
- The insurance policy also pays for the loss of money, travel tickets and for replacement of passports and also against the unauthorized use of a lost credit card.
- HSBC’s travel insurance also reimburses the costs of a trip rescheduling, trip postponements and the cost to replace a travelling companion before the trip.
- The personal liability cover will indemnify your legal liability to third parties for any damage or injury caused by negligence to their properties.
- If the travel is delayed, S$100 is offered as cover for every 6 hours whilst overseas and a maximum of S$100 for travel delays in Singapore.
- Reimbursement for the irrecoverable travel expenses is provided in cases of financial collapse of the travel agency.
- Under the trip curtailment benefit, you will be offered a reimbursement of irrecoverable travel expenses in case your trip is shortened.
- Cash benefit is paid by the insurance plan if your travel delay exceeds 4 hours due to an overbooked flight or travel misconnection.
- The excess/deductible will be reimbursed in case of damages to rented cars.
- Also, coverage is provided for quarantine allowance for Influenza A outside and within Singapore, loss of sports equipment and delay to fetch your pet from hotel.
- Reimbursements up to S$50 per day for a maximum of 6 days is offered as emergency personal mobile phone charges.
TRAVEL SECURITY COVER
- Travel security cover offers up to S$500 for every 6 hours the insured is detained due to a hijack.
- For every 24 hours the insured is detained due to kidnap and hostage, S$500 is provided.
- Full terrorism cover protects you and your family against terrorist attacks that include attacks by nuclear, chemical or biological means.
- Under golf benefits, the insured can claim up to S$300 for a lost or damaged golf club.
- Also, the insurance will pay up to S$50 per day to hire a golf equipment as replacement.
- Reimbursement for entertainment expenses is also provided under the Hole-in-One benefit.
The cover provided for each of these vary depending on the type of insurance plan. Do read the fine print carefully and also enquire with the bank to know about the benefits that you are entitled for.
Compare HSBC Travel Insurance With Other Insurance Companies Offering Travel Insurance in Singapore
- AIG Travel Insurance
- AXA Travel Insurance
- AVIVA Travel Insurance
- Liberty Travel Insurance
- ETIQA Travel Insurance
- MSIG Travel Insurance
- NTUC Travel Insurance
- Tenet Travel Insurance
- QBE Standard Plus Travel Insurance
- ACE Supreme Travel Insurance
- Tokio Marine Travel Insurance
- AIA Travel Insurance
FAQs - HSBC Travel Insurance
- What do you mean by automatic extension of policy?
Your HSBC travel insurance policy will be automatically extended for up to 30 days if you are hospitalized or quarantined while overseas and for up to 72 hours if the public transport in which you are travelling is delayed.
- What is the geographical coverage offered by this policy?
The policy has coverage over 3 geographical areas.
- ASEAN – Travel within Brunei, Indonesia. Myanmar, Cambodia, Laos, Vietnam, Malaysia, Thailand and the Philippines.
- Asia – Travel within India, China, Hong Kong, Australia, Macau, Japan, Mongolia, Korea, New Zealand, Sri Lanka, Timor-Leste and Taiwan.
- Global – Travel to the rest of the world including Nepal, Tibet and countries under “ASEAN” and “Asia”.
- If the same trip involves travel to countries in different geographical regions, how is the premium calculated?
If the travel involves crossing of a geographical area, the premium will be calculated based on the area of travel with the highest premium.
- What is the minimum premium amount as offered by the HSBC SmartTraveller insurance plan?
The premium range starts with S$38 for individuals under the “Essential” travel insurance plan when travelling to “Asia” region for 1 to 3 days.
- What is the premium range for family plans?
The premium ranges from S$67 to S$496 depending on the trip duration and if the scheme is essential or comprehensive.