Travel insurance should be an important element in planning your voyages. You and your close ones could fall prey to unfortunate accidents or fall ill. Such instances not only cost you a great deal of money, but also act as a barrier in your travel plans. There might be such a situation where you find no other way of dealing with such instances, and cancelling the trip could be your only option. This would mean a major loss, as all the money you invested for the trip would go waste.
Travel insurance plans come with great benefits which provide coverage against the unanticipated losses you may incur while on your trip. Trip cancellation coverage is one such benefit offered by almost all travel insurance plans. This type of coverage benefits you by reimbursing the you even on the non-refundable trip expenses.
When does Trip Cancellation cover apply?
Trip cancellation cover can be applied across an array of instances, which involves unforeseen events that compel you to cancel your travel plans. Some of the primary events where you might have to cancel your trip and you can make use of the trip cancellation coverage include:
- This kind of coverage protects you against incidents that involve you being sick or injured during your trips. This also applies for your travel partners, family members, or business partners. Even if the host at your destination falls ill or meets such unavoidable incidents, you’ll be eligible for the trip cancellation coverage.
- You can also make use of this coverage if weather or any other natural disaster severely impacts your travel destination. This also applies if your own house is affected by such incidents.
- The trip cancellation coverage also protects you against incidents that involve scheduled issues such as summons from the court, or jury duties, or year extensions from schools.
- The coverage also applies for you and your travel partner in instances of traffic accidents, when you’re on the way for your flight.
- The trip cancellation cover can be applied when you’re faced with property damage. This could involve incidents where your house, business, or accommodation arrangements at the destination is trashed, broken into, or disrupted through unscrupulous activities.
- If you’re faced with a terrorist incident where you might have to be evacuated right away, you can make use of this coverage.
- The coverage can be utilised in the light of an event where your trip facilitator stops all operations as a result of being bankrupt or defaulting financially.
- In cases where you and your trip partner might face assault which might implicate felony, the coverage can be applicable.
- Cases involving work conflicts can also make use of this coverage. This could be in the form of instances where you or your trip partner are let off from the respective jobs, or are required to shift to a new work destination, or are serving the defense sector and might have been sent to assist with relief operations during a disaster.
- The trip cancellation cover can also be used when the host at your destination is either admitted or dead.
- In instances where your travel plans are affected or your flight is cancelled due to a sudden labor strike, the coverage can be useful.
- This coverage can also be used in incidents involving loss or theft of your passport.
Trip Cancellation coverage provided under different insurance policies
There are a number of players in the Singapore insurance market that provide several travel insurance plans, which are mostly customised to meet specific needs of the customers. All of these insurance plans have the trip cancellation cover, which protects you against unavoidable circumstances as listed above, where cancelling the trip is your only option. Let’s take a look at some of the most beneficial plans across Singapore that include cover trip cancellation:
HSBC provides the SmartTraveller insurance plan, which has two packages - Essential and Comprehensive. Both the packages have trip cancellation coverage listed under the travel inconveniences section. The table below illustrates the coverage provided under both the packages:
|Plan||Essential Plan||Comprehensive Plan|
|Amount insured for each insured individual per trip||S$6,000||S$12,000|
Etiqa ePROTECT travel
Etiqa’s ePROTECT travel insurance plan also provides trip cancellation coverage to customers, and is listed under the travel inconvenience privileges. The policy guarantees a coverage amount of up to S$15,000. The table below illustrates the coverage provided:
|Coverage plan||Basic Plan||Economy Plan||Business Plan|
|Maximum cover in case of trip cancellation and loss of deposit||S$5,000||S$10,000||S$15,000|
DBS TravellerShield Plus
DBS TravellerShield Plus also provides coverage for trip cancellation under the provision for benefits against travel inconveniences. The insurance policy comes with three packages - platinum plan, premier plan, and classic plan, each providing a different coverage amount. The following table illustrates the coverage scheme:
|Coverage plan||Platinum Plan||Premier Plan||Classic Plan|
|Coverage amount for each person||S$15,000||S$10,000||S$5,000|
|Total coverage limit for family||S$45,000||S$30,000||S$15,000|
The insurance policy stated in AXA SmartTraveller plan also enlists coverage for trip cancellation under the travel inconveniences section. The insurance policy has two packages to offer - Essential and Comprehensive, each with its own coverage amount. The following table illustrates the coverage scheme:
|Coverage plan||Essential Plan||Comprehensive Plan|
|Amount insured for each individual per trip||S$6,000||S$12,000|
AIG Travel Guard Direct
AIG’s Travel Guard Direct Insurance policy provides pre-departure travel cancellation benefit on both your one-way and return trip plans. The insurance policy has four different packages - Supreme, Enhanced, Standard, and Basic; each guaranteeing a different amount. The table below illustrates the scheme for coverage:
|Privileges||Return travel plans||One-way trip|
|Cancellation of your trip before departure||S$15,000||S$10,000||S$5,000||S$5,000||This is included|
UOB Insure & Travel
Trip cancellation coverage is also provided under UOB Insure & Travel plan, and the policy is available in two different schemes - the Essential plan and the Preferred plan. The table below illustrates the coverage amount under each package:
|Privileges||Maximum limit for each insured individual|
|Essential Plan||Preferred Plan|
|Trip cancellation or loss of deposit||S$10,000||S$15,000|
Aviva Travel Insurance
Aviva’s Travel Insurance plan includes provision for trip cancellation coverage too, listed under the travel inconvenience section. Aviva has three different packages for travel insurance - Travel Prestige, Travel Plus, and Travel Lite; each with its own coverage sum. The table below illustrates the coverage scheme:
|Coverage plan||Travel Prestige||Travel Plus||Travel Lite|
|Trip cancellation coverage||S$20,000||S$15,000||S$5,000|