Compare Best Travel Insurance Plans 2024 by Insurance Providers
| Insurance Provider/ Plan Type | Best For (Rating By ValueChampion) | Overseas Medical | Trip Cancellation | Accidental Death | Adventurous Activities |
|---|
| MSIG TravelEasy (Premier) | Best Value | S$1,000,000 | S$15,000 | S$500,000 | Yes, conditions applies |
| FWD Travel Insurance (First) | Best Value | S$1,000,000 | S$15,000 | S$400,000 | No |
| Singlife Travel Insurance (Prestige) | Best Value | Unlimited | S$20,000
***Trip Cancellation For Any Reason (S$5,000) | S$500,000 | Optional Add-on |
| MSIG TravelEasy Pre-Ex (Standard) | Best Travel Insurance for Pre-Existing Medical Conditions | S$175,000
Limit for Medical Claims (due to pre-existing medical conditions) | S$5,000 | S$150,000 | Not Covered under Standard Plan (covered under Elite and Premier only) |
| TIQ Travel Insurance Pre-ex (Entry) | Best Travel Insurance for Pre-Existing Medical Conditions | S$75,000
Limit for Medical Claims (due to pre-existing medical conditions) | S$5,000 | S$150,000 | Yes, conditions applies |
| Income Enhanced Pre-X (Classic) | Best Travel Insurance for Pre-Existing Medical Conditions | S$150,000
Limit for Medical Claims (due to pre-existing medical conditions) | S$10,000 | S$200,000 | Yes, conditions applies |
What does travel insurance cover? Is it necessary?
Travel insurance will give you peace of mind every time you leave Singapore. It is recommended to buy your travel insurance as soon as you confirm your travel plans to protect yourself from expenses incurred due to unforeseen travel disruptions. Travel insurance is cheap and covers a whole range of unexpected scenarios that may be beyond your control. Here are some of the main benefits of travel insurance:
Medical coverage
In Singapore, we are covered by subsidised healthcare and health insurance (Integrated Shield Plans). But should you fall sick or get into an accident overseas, you may end up having to pay for huge medical bills. Travel insurance covers your medical expenses overseas, even in places where healthcare is extremely expensive.
Flight delay or cancellation
Your flights may be delayed or cancelled due to unforeseen circumstances like bad weather. Should this happen to you while you are overseas, you may need to make last-minute accommodation arrangements that incur costs. Travel insurance covers those unexpected costs so you can breathe easy.
Natural disaster protection
Going abroad to a place known for natural disasters like earthquakes, hurricanes, tsunamis, floods or volcanic eruptions? Travel insurance can cover your medical expenses or emergency repatriation in the event that you are injured or grievously hurt. Your risk exposure to natural disasters can be covered with insurance.
Protect your belongings
Travel insurance protects you in the event that you lose or damage your important documents, money, luggage and any other valuables.
Does travel insurance cover COVID-19?
Travel insurance may cover certain scenarios inclusive of COVID-19, but the COVID-19 cover may not be offered for certain countries and at certain periods and may come with conditions.
Please contact us at hello@policypal.com or +65 3106 4522 to understand more about the travel insurance coverages.
How do you compare travel insurance policies?
For such a simple, short-term product, travel insurance policies can be very long and full of insurance jargon! However, it is important not to ignore the policy wording and benefits as you would want your travel insurance plan to be an appropriate fit for your destination. Here are the five important parts of your policy to compare.
Premiums
Travel insurance premiums are calculated based on your destination(s) and the number of days you are there. If you are travelling as a group or couple, it is usually cheaper to buy a group travel insurance policy.
Medical coverage
Most travellers are concerned about having their medical expenses covered when overseas. Check that your medical claim limit is adequate for your destination — choose a higher tier plan if you are going to an expensive country. Also, look for post-trip medical coverage.
Travel disruption coverage
Travel insurance covers flight delays/cancellations, luggage delays/loss, and trip cancellations (e.g. due to the insolvency of your travel agent). These could be costly and it can be very tough to recover the costs from the airline or agent.
Pre-existing conditions
Generally, travel insurance does not cover pre-existing medical conditions such as diabetes or asthma. Should you require medical treatment (on your trip) because of a flare-up, the insurer will not cover it. However, NTUC Income, MSIG, TIQ and FWD offer travel insurance plans that cover pre-existing conditions.
Adventure activities
Some travel insurance plans cover adventure activities like mountain hiking, skydiving and scuba diving, while others don't. If you have any of such activities planned, do check your policy's list of exclusions (found in the policy wording) and make sure your intended activities are not excluded.
How do you make travel insurance claims?
Every travel insurance provider has a different claims process. Typically, you can make claims online with the relevant supporting documents. Some insurers even let you submit claims through their apps. You also have the option to mail the documents.
Travel insurance claims should be submitted ASAP, usually within 30 days of your return. The specified time frame is detailed in your policy wordings. If you are unsure of the documents you need to submit, each insurer should have a claim submission instruction page that lets you know what they need for each type of claim.
Here's a general guide to what documents you need to provide in common travel scenarios.
Emergency assistance
Before you travel, save the insurer's emergency assistance hotline and your policy details to your phone. In the event of an emergency, contact the number as soon as possible (have your policy number handy) to arrange for help.
Personal accident / medical expenses
You will need to pay for your expenses overseas and then claim a reimbursement. Make sure to keep all original receipts, your full medical report and a police report (if applicable). File your claim as soon as possible upon your return to Singapore. You may need to submit the original documents by mail.
Travel disruption / cancellation
To claim for travel disruption benefits, you will need to show written proof of the delay/cancellation from your airline, hotel or travel agent, as well as a receipt of your payment made.
Lost / damaged personal belongings
To make a claim for your personal belongings, you will need to submit a police report, the original invoice/receipt for your item, your bill for repairs (if applicable), and in some cases, a report from the repair workshop.
Rental vehicle expenses
Most travel insurance policies cover expenses arising from a rental vehicle accident. To claim, you will need to submit the police report, your own photos and proof of the accident, your repair bills and the rental car contract.
Frequently asked questions
Which are the best travel insurance companies?
There is no single “best” travel insurance provider; it depends on your personal needs. Established companies like NTUC Income and MSIG tend to have great reputations and better products for older travellers (like plans that cover pre-existing conditions). Newer ones like Etiqa and FWD tend to have a fully-digital claims experience and may be more accommodating with adventure activities. Claim experience is also a consideration when you compare travel insurance!
Which travel insurance is cheapest?
There is a lot of competition among travel insurers, so prices tend to be very competitive. Insurance coverage for a three-day trip in Southeast Asia starts from only about S$11. The actual pricing varies with any ongoing travel insurance promotions.
Is your credit card's free travel insurance enough?
Some credit cards, especially miles cards, offer free travel insurance coverage if you book and pay for your flights and/or accommodation through the card. However, the coverage tends to be low. We recommend supplementing it with a more comprehensive travel insurance plan.
Can foreigners buy travel insurance in Singapore?
You will need to provide your FIN and show your employment pass or work permit to apply. Foreigners in Singapore can buy travel insurance from most of the insurance companies such as MSIG, NTUC Income, FWD, Etiqa, Sompo, Allianz, AIG, etc.
What are the key differences between family travel insurance plans and group travel insurance plans?
Both allow more savings than buying individual travel insurance for each traveller on the same trip. Family travel insurance plans are designed to cover family members (related) travelling together. Group travel insurance offers a collective coverage option for travellers on the same trip and it caters to non-familial groups.
What's the difference between single-trip or annual multi-trip travel insurance?
Single-trip travel insurance covers one specific journey, ideal for occasional travellers. Annual travel insurance insures your trips year-round, as long as your destination is within your insurance coverage. We recommend getting an annual insurance for people who travel more than four to six times per year, as this is perfect for frequent travellers and offers convenience and potentially significant savings.
When should I buy travel insurance?
You should buy travel insurance preferably as soon as you book your trip. The latest you can buy a policy is just before your trip (leaving Singapore), although some insurers reduce coverage for cancellation benefits three days before your travel date. You cannot buy a travel insurance policy after you have left for your trip.
How should I choose my travel destination/ country for my travel insurance if I am going to multiple countries?
If you are travelling to more than one country, please select the region of travel/ country based on the furthest destination from Singapore.
For example, if you are travelling to Thailand and the USA, please select:
- Thailand, USA (if the portal/ application allows); or
- Worldwide (if the selection is by region); or
- USA (if the selection is by country)
If you are travelling to Thailand and returning to Singapore before setting off to the USA, it will be considered as two trips. You will need to purchase two travel insurance policies (one policy for “Singapore - Thailand - Singapore”; another policy “Singapore - USA - Singapore”) to cover each trip separately.
How does "trip cancellation for any reason" benefit work?
"Trip cancellation for any reason" is a benefit offered by some insurance companies (such as Singlife and FWD, for certain tier of plans or as an optional add on benefit). The insurance policy/ benefit must be purchased within seven days of you making the initial payment for your trip. For example, if you've purchased an air ticket on 1 April 2023 and paid for your accommodation on 15 May 2023, for a trip from 1 June 2023 to 14 June 2023, you would've had to secure your travel insurance by 8 April 2023 to be covered under this benefit.
Why buy travel insurance from us?
Value for money
We compare our partners' insurance plans based on best price and coverage to give you the best bang for the buck.
Customer-oriented
We are always online to serve you and your needs to your best interests - because you come first.
Time-saving
We save your details securely and cut your time by half the next time you purchase another policy with us.
Compare Best Travel Insurance Plans 2024 by Coverage
| ValueChampion's Picks: Best Value Travel Insurance in Singapore (Single/ Annual)
We selected the below contenders based on Best Coverage and Benefits—the most comprehensive coverage overall at a reasonable price.
As an annual plan covers you for multiple trips taken in a year, overall comprehensive benefits might be more crucial than pure price comparison. |
|---|
| | MSIG TravelEasy | FWD Travel Insurance | Singlife Travel Insurance |
|---|
| Plan Tier Type | Premier | First | Prestige |
| Price (prevailing discount) | From S$45 (Single Trip) | From S$25 (Single Trip) | From S$45 (Single Trip) |
| Overseas Medical | S$1,000,000 | S$1,000,000 | Unlimited |
| Trip Cancellation | S$15,000 | S$15,000 | S$20,000
***Trip Cancellation For Any Reason (S$5,000) |
| Accidental Death | S$500,000 | S$400,000 | S$500,000 |
| Adventurous Activities | Yes, conditions applies | No | Optional Add-on |
| Covid 19 Coverage | Included in the plan | Optional Add-on | Included in the plan |
| ValueChampion's Picks: Best Travel Insurance for Pre-Existing Medical Conditions
Coverage for pre-existing medical conditions is an investment worth getting to avoid a claim denial, if you have medical conditions. |
|---|
| | MSIG TravelEasy Pre-Ex | TIQ Travel Insurance Pre-ex | Income Enhanced Pre-X |
|---|
| Plan Tier Type | Standard | Entry | Classic |
| Price (prevailing discount) | From S$38 | From S$37.20 | From S$54.40 |
| Overseas Medical (Overall) | S$250,000 | S$200,000 | S$500,000 |
| Limit for Medical Claims (due to pre-existing medical conditions) | S$175,000 | S$75,000 | S$150,000 |
| Trip Cancellation | S$5,000 | S$5,000 | S$10,000 |
| Accidental Death | S$150,000 | S$150,000 | S$200,000 |
| Adventurous Activities | Not Covered under Standard Plan (covered under Elite and Premier only) | Yes, conditions applies | Yes, conditions applies |
| Covid 19 Coverage | Not Available | Not Available | Included in the plan |
Compare Best Travel Insurance Plans 2024 by Prices
| ValueChampion's Picks: Cheapest Single Trip Travel Insurance for Asean Destinations |
|---|
| | Direct Asia Travel Insurance | FWD Travel Insurance | Budget Direct Travel Insurance |
|---|
| Plan Tier Type | Voyager 150 | Premium | Basic |
| Price (prevailing discount) | From S$14.70 | From S$14.60 | From S$12.01 |
| Overseas Medical | S$150,000 | S$200,000 | S$50,000 |
| Trip Cancellation | S$3,000 | S$7,500 | Not Covered |
| Accidental Death | S$100,000 | S$200,000 | S$50,000 |
| Adventurous Activities | Not Available | No | Yes, conditions applies |
| Covid 19 Coverage | Optional Add-on | Optional Add-on | Not Available |
| ValueChampion's Picks: Cheapest Single Trip Travel Insurance for Asia Destinations |
|---|
| | Direct Asia Travel Insurance | FWD Travel Insurance | Budget Direct Travel Insurance |
|---|
| Plan Tier Type | Voyager 150 | Premium | Basic |
| Price (prevailing discount) | From S$21.00 | From S$20.00 | From S$15.01 |
| Overseas Medical | S$150,000 | S$200,000 | S$50,000 |
| Trip Cancellation | S$3,000 | S$7,500 | Not Covered |
| Accidental Death | S$100,000 | S$200,000 | S$50,000 |
| Adventurous Activities | Not Available | No | Yes, conditions applies |
| Covid 19 Coverage | Optional Add-on | Optional Add-on | Not Available |
| ValueChampion's Picks: Cheapest Single Trip Travel Insurance for Global Destinations |
|---|
| | Direct Asia Travel Insurance | FWD Travel Insurance | Budget Direct Travel Insurance |
|---|
| Plan Tier Type | Voyager 150 | Premium | Basic |
| Price (prevailing discount) | From S$34.24 | From S$31.69 | From S$20.87 |
| Overseas Medical | S$150,000 | S$200,000 | S$50,000 |
| Trip Cancellation | S$3,000 | S$7,500 | Not Covered |
| Accidental Death | S$100,000 | S$200,000 | S$50,000 |
| Adventurous Activities | Not Available | No | Yes, conditions applies |
| Covid 19 Coverage | Optional Add-on | Optional Add-on | Not Available |
| ValueChampion's Picks: Cheapest Annual Travel Insurance |
|---|
| | Direct Asia Travel Insurance | TM Xplora Plus (Tokio Marine) | Budget Direct |
|---|
| Plan Tier Type | Voyager 250 | Classic | Basic |
| Price (prevailing discount) | S$163.90 | S$291.00 | S$136.00 |
| Remarks | Asia Coverage (no Asean offering) | Asia Coverage (no Asean offering) | Asean |
| Overseas Medical | S$250,000 | S$300,000 | S$50,000 |
| Trip Cancellation | S$10,000 | S$5,000 | Not Covered |
| Accidental Death | S$300,000 | S$200,000 | S$50,000 |
| Adventurous Activities | Optional Add-on | Yes, conditions applies | Yes, conditions applies |
| Covid 19 Coverage | Yes, Optional Add-on | Included in the plan | Not Available |
Policy Documents
