A short trip to a sanitised beach destination or a long-trip to a secluded island, how does your next vacation look like? This is what a typical family outing will look like once travel and tourism fully start to gain pace. It could be as early as now or as late as a couple of months from now and beyond.
Whether you’re taking a short road trip or planning an extended vacation, the one thing you can’t miss out as an essential part of your travel plan is – travel insurance.
With the news of countries lifting restrictions slowly coming to fore, there is an increasing demand for travel insurance. Travellers booking flights must be advised to choose a travel insurance policy keeping certain points in mind.
Even if the insurance doesn’t cover flight cancellations, it doesn’t mean you should not take out a plan. There are some covers worth considering that can help tourists recover costs in the event they encounter any unforeseen circumstances including novel diseases like Covid 19 in their travels. All insurance products mentioned below do cover for coronavirus related medical expenses for policies that were purchased before Covid 19 became a known outbreak (between Jan-March).
With the abundance options available in the market, the plan to find the comprehensive travel insurance for your family can get confusing. World Travel Magazine lists top 5 travel insurance options for the Singaporeans planning their travel in 2020 and beyond.
For those looking for a single trip budget travel insurance, FWD is a good choice. It often offers promotional discount codes and the policies start from as low as $14. Terrorism coverage and unlimited medical evacuation / repatriation are covered in this policy.
FWD covers precisely what you need. No more, no less. The overseas medical expenses (per adult below 70 years old) start from $200,000 and goes up to $1,000,000, which covers medical and accidental death coverage.
Trip Delay and cancellations are covered up to $300 and $7,500 respectively. Add-ons are also provided for sports equipment protection, pet care and car rental excess at an additional premium. All the claims can be filed on their personal app.
What’s more? FWD has gone one step beyond by issuing additional coverage that can be taken by travellers who plan to travel now. During this unprecedented situation caused by Covid 19, comprehensive protection against the pandemic at $28 for 100 days is made available, something that not many travel insurance companies are providing.
With a customer satisfaction rate of more than 90%, DirectAsia provides economic insurance plans to its customers. Singaporeans swear by it and it is, by far, considered to be a common favourite.
DirectAsia provides a comprehensive plan for all traveller types – individual, family and group policies. With different coverage plans for all three, most of the travellers are able to find one that suits their itinerary.
It also gives an option for customisation and assistance for insurance policies that best suit the needs. You can go on unlimited number of trips in a year and travel for up to 90 days per trip with DirectAsia’s annual travel insurance plans, however, single trip travel insurance plans cover trips for up to 182 days.
For overseas medical expenses coverage, the DA150 policy offers $150,000 while DA200 and DA500 provides $200,000 and $500,000 respectively.
For sports lovers, DirectAsia offers additional optional coverage. You can enjoy high-risk sports activities at leisure without having to worry about additional costs. Loss or damage to personal belongings, trip cancellation, baggage loss etc are all included as add-ons. For frequent travellers, DirectAsia is a one stop shop to consider.
With a network of doctors, clinics and other professionals in more than 150 countries, Allianz travel insurance is said to have the best medical coverage for Singaporeans. For people who strive to keep health on priority, this insurance is ideal for you.
It offers comprehensive travel insurance plans that are cost effective. From annual multi-trip, single trip to family travel insurances they have you covered.
There plans range from Bronze, Silver to Gold. It offers protection up to $400,000 for their Bronze plan while the Gold plan provides unlimited medical coverage for people travelling to countries that have high medical costs.
Allianz is always at your service through a 24-hour emergency hotline available to all policyholders.
AXA is especially for those looking for comprehensive travel insurance. The prices may be a little high as compared to others, but the coverage covers it all.
The essential and comprehensive plans cover medical expenses from $300,000 to $600,000. One of the few insurances that cover flight delays, AXA offers nearly 20% more coverage for postponed flights. They, however, do not include high risk sports activities like the rest.
American Express (Amex) Singapore
Amex travel insurance is for those travelling to exotic locations and may require a range of benefits, more coverage and add-on options to suit their travel itinerary. Named as My VoyageGuard Travel Insurance, this product is underwritten by Chubb Insurance Singapore Limited.
From annual multi-trip plan covering unlimited journeys up to 90 days for frequent leisure to single trip plans that give you the levels of cover you would expect from one of the world’s most respected travel brands, you can find everything under one roof.
Amex travel insurance is available in three types: Essential, Standard, and Superior. Overseas medical expenses range from $500,000 to $2,000,000 with essential add-ons like damage to personal belongings, baggage delay etc.
You will also find trip cancellation reimbursements to be much more than average with AMEX – ranges from $5,000 (Essential) to $20,000 (Superior). Sports activities that are considered risky like mountain climbing, river rafting and skydiving are all within the cover, something that not many travel insurance companies offer. ◼
© This article was first published online in July 2020 – World Travel Magazine.