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Travel insurance will provide financial protection if any mishaps or interruptions were to happen on your trip. It offers cover for a range of eventualities, such as losing your possessions, your flights and accommodation being cancelled, or if you become ill or injured while you’re abroad.
With the ongoing pandemic, there are more reasons to get yourself adequately covered if you’re heading overseas. Learn more about travel insurance in Singapore and the policies offering COVID-19 benefits.
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As the majority of Singapore’s population are now fully vaccinated against COVID-19, the Singapore Government has begun easing travel restrictions and reopening its borders by extending its Vaccinated Travel Lane (VTL) scheme to more countries — including Australia, Canada, Thailand, the United Kingdom and the United States.
Travel insurance acts as a safety net. It protects you from a range of travel risks that can happen both at home and abroad. Buy your policy as soon as you’ve booked any part of your trip. By doing so, you’ll be able to take advantage of cancellation cover in the policy should anything go wrong.
Travel insurance policies vary a lot, but broadly speaking there are two main types of cover: single trip and annual (often called multi-trip) insurance.
Most multi-trip and single policies cover you for a period between 90 and 180 days. So, check the details if you’re planning a longer break away. If you’re going away for longer than this, or are visiting multiple countries, you may need a long-stay or multi-destination policy.
What you’re doing also affects the level of cover that you need. If you’re going for work purposes, then you’ll need a business travel policy. If you’re taking part in any high-risk activity, like sky diving or rock climbing, then you’ll probably need to seek out additional cover.
Family and group policies are also available to insure individuals who are travelling together as a group on the same journey. Check with your insurer for their available plans.
When comparing policies, be sure to review these important features and find one that’s best suited to your needs:
The following list shows cover types that are typically offered by a comprehensive travel insurance policy. When comparing policies it’s really important that you are aware of exactly what a policy will cover you for, and what it won’t.
While not all insurers offer COVID-19 benefits, most of them now extend coverage (in varying extent) for inconveniences caused by the pandemic, such as:
However, do note that claims will only be valid if you’ve taken the necessary precautions against COVID-19 (e.g. wearing a mask) and adhere to any travel advisory/regulations put forth by both the Singapore Government and the local authority at your trip destination.
If you’re looking for cover that isn’t included in a policy, you can ask a provider if they’ll offer it as an add-on. If they won’t, you’ll need to shop around for specialist policy to get the cover you need.
There are several factors that affect the cost of your travel insurance, including:
Even the most expensive and comprehensive travel insurance policy will come with exclusions, which are conditions where the policy will not pay out.
Your travel insurance policy will typically not cover your claim in the event of:
Make sure you read and understand the total list of exclusions that an insurer has before signing up for a policy with them.
MSIG Global Study offers comprehensive protection against accidents and other unforeseen consequences for students studying abroad.
MSIG TravelEasy offers extensive travel coverage for families and independent travellers, and even has an enhanced plan for those with pre-existing medical conditions.
CIMB TravelEASE’s greatest appeal lies in its coverage of unique benefits, including miscarriage expenses, pet care costs and quarantine charges.
