Best Travel Insurance in Singapore 2024
Our travel insurance experts collected hundreds of data points from 20 travel insurers in Singapore to find out which plans are worth your money. Use our guide below to find and buy the best or cheapest travel insurance policies that are currently available. Compare policies by region of travel and different benefits like travel inconvenience, medical and sports coverage.
COVID-19 and Travel: While Singapore and certain neighboring countries are seeing success in decreasing COVID-19 transmission and are opening up their international borders, please note that COVID-19 transmission is still persisting in many countries. Therefore, we recommend following the Ministry of Health's travel advisories; following all pre- and post-travel guidelines at your destination and upon return to Singapore; and buying travel insurance that provides coverage for COVID-19.
- Allianz Travel Silver: Offers above average trip inconvenience coverage
- Singlife: Has most flexible coverage; MINDEF/MHA customers have additional 30% off
- Income Classic: Plan focusing on medical benefits, priced competitively for ASEAN trips
- Allianz Travel Platinum: Double the industry average trip inconvenience coverage (S$42,900 of total benefits)
- Aviva Prestige: Option to cancel plan for any reason; Unlimited medical coverage; customization options
- MSIG Premier: Good for high coverage for families; coverage for pregnancy-related illnesses
- MSIG Pre-X: Good for option for elderly; 20% cheaper than Income
- Income PreX: More expensive than MSIG but higher benefit limits for medical and trip inconvenience
- FWD Premium: Good budget option for cruise takers and adventurous travellers
- HL Assurance Basic: Above average trip inconvenience coverage for price point
- Etiqa Basic: Cheapest plan that provides comprehensive coverage
- Budget Direct: 60% cheaper than average for global plans
- Allianz Travel: 40-45% cheaper than average
- Wise Traveller: Costs 30% below average, good value for global travel
- Budget Direct: Cheapest annual travel insurance plans
Looking for the best travel insurance in Singapore?
To find the best travel insurers in Singapore, looked through dozens of travel insurance plans to find which ones offered the best benefits for the most competitive premium. To find the cheapest plans, we analysed basic plan premiums for a 1-week trip to the ASEAN, which include insurer promotions.
Best Value Travel Insurance in Singapore
| Our Picks: | |||
| Silver | Plus | Classic | |
| Premium^: | |||
| Value Ratio | 1.32 | 1.38 | 0.63 |
| Medical | S$500,000 | S$2,000,000 | S$250,000 |
| Accident/Death | S$100,000 | S$100,000 | S$150,000 |
| Cancellation | S$10,000 | S$15,000 | S$5,000 |
| Trip Delay | S$1,500 | S$1,000 | S$1,000 |
| COVID-19 Coverage? | Yes | Yes | Yes |
| ^1-week premium for trip to ASEAN destinations | |||
- Allianz Travel: .
For those people looking for the best combination of price and benefits in travel insurance, we recommend Allianz Travel's Silver plan, Singlife's Travel Plus plan or Income's travel insurance if you need COVID-19 coverage. Their competitive prices coupled with above-average benefits means they provide more value than most other travel insurance policies on the market. For example, while a plan covering a 1-week ASEAN trip has an average cost of S$44, these four plans cost between S$24-S$60 while also having above average trip inconvenience and medical coverage.
Allianz's Silver plan is great for people who prioritise travel inconvenience coverage such as flight delays, cancellation and lost baggage benefits. Allianz also provides coverage for pandemics and endemics, meaning you can get covered for things like cancelling your trip and medical treatment if you or someone related to you contracted COVID-19. Thus, though it is certainly not the cheapest plan on this list, it provides benefits that are most relevant in this climate and is well worth the price.
Out of the four, Singlife has the most flexible coverage and will allow you to get reimbursed for loss of frequent flyer points, motorcycling accidents, and extreme winter/water sports. It also boasts generous medical coverage. While not the cheapest, it becomes especially competitive for MINDEF/MHA customers as they will get an additional 30% off on top of any ongoing promotion.
Income offers above average medical coverage and average coverage for trip inconvenience benefits like trip cancellation, delays and baggage loss. However, Income's value comes from its up to US$100,000 medical expense coverage and US$100,000 evacuation coverage if you were diagnosed with COVID-19 during your trip (provided you did not travel to a high risk nation). Please note coverage will only be in effect if you took the mandatory pre-departure COVID-19 PCR test 72 hours before your trip. All in all, if you are looking for affordable ASEAN trip coverage with a focus on medical coverage, Income will be a good option.
- .
| Insurer | Premium |
|---|---|
| S$60.00 |
| S$54.78 |
| S$36.60 |
| Premiums are for 1 week trip to ASEAN destinations | |
For those people looking for the best combination of price and benefits in travel insurance, we recommend Allianz Travel's Silver plan, Singlife's Travel Plus plan or Income's travel insurance if you need COVID-19 coverage. Their competitive prices coupled with above-average benefits means they provide more value than most other travel insurance policies on the market. For example, while a plan covering a 1-week ASEAN trip has an average cost of S$48, these three plans cost between S$27-S$50 while also having above average trip inconvenience and medical coverage.
Allianz's Silver plan is great for people who prioritise travel inconvenience coverage such as flight delays, cancellation and lost baggage benefits. Allianz also provides coverage for pandemics and endemics, meaning you can get covered for things like cancelling your trip and medical treatment if you or someone related to you contracted COVID-19. Thus, though it is certainly not the cheapest plan on this list, it provides benefits that are most relevant in this climate and is well worth the price.
Out of the three, Singlife has the most flexible coverage and will allow you to get reimbursed for loss of frequent flyer points, motorcycling accidents, and extreme winter/water sports. It also boasts generous medical coverage. While not the cheapest, it becomes especially competitive for MINDEF/MHA customers as they will get an additional 30% off on top of any ongoing promotion.
Income offers above average medical coverage and average coverage for trip inconvenience benefits like trip cancellation, delays and baggage loss. However, Income's value comes from its up to US$100,000 medical expense coverage and US$100,000 evacuation coverage if you were diagnosed with COVID-19 during your trip (provided you did not travel to a high risk nation). Please note coverage will only be in effect if you took the mandatory pre-departure COVID-19 PCR test 72 hours before your trip. All in all, if you are looking for affordable ASEAN trip coverage with a focus on medical coverage, Income will be a good option.
Travel Insurance with the Best Coverage & Benefits
| Our Picks: | |||
| Platinum | Prestige | Premier | |
| Premium^: | |||
| Value Ratio | 2.27 | 2.67 | 1.28 |
| Medical | Unlimited | Unlimited | S$1,500,000 |
| Accident/Death | S$100,000 | S$500,000 | S$500,000 |
| Cancellation | S$25,000 | S$20,000 | S$15,000 |
| Trip Delay | S$1,500 | S$2,000 | S$1,500 |
| COVID-19 Coverage? | Yes | Yes | Yes |
| ^1-week premium for trip to ASEAN destinations | |||
- Allianz Travel: .
- MSIG:
If you are relatively insensitive to price and are looking for a travel insurance plan with maximum coverage, we think Allianz’s Platinum Plan, Singlife's Travel Prestige Plan and MSIG's TravelEasy Premier Plan could be great options. Though they can be pricey, they are still priced competitively to other premium travel insurance plans on the market, while providing the leading benefits for travel inconvenience, medical or personal accident claims, respectively.
Allianz Platinum offers the most trip inconvenience coverage, making it ideal for travellers concerned about flight delays or lost baggage. As a point of reference, 60% of travel insurance claims are related to travel inconvenience, meaning this plan will provide valuable coverage. Lastly, it also offers two unique coverages for the current climate-pandemic coverage and cruise coverage. For instance, you may be able to claim for a trip cancellation if you or someone you know contract COVID-19 before your trip. Cruise travellers will also receive some of the best benefits on the market, like a cabin confinement benefit, a missed port of call benefit or a cruise coverage boarding denial benefit.
Singlife Prestige is recommended for travellers who care most about medical benefits, like to personalise their coverage, or who want to have the option to cancel their trip for any reason. Aviva also has a lot less exclusions than the average travel insurance plan, as it lets you purchase optional coverage for a variety of things from extreme sports to weddings.
Both Allianz and Aviva are also good options to consider if you will be going on a cruise, provided your departure port is from Singapore.
Lastly, MSIG TravelEasy Premier can be a great travel plan for families who want a wide variety of coverage without paying extra for it. For instance, MSIG's coverage automatically includes everything from rental car excess coverage to adventurous activities to wedding dress coverage. You will also be covered for pregnancy-related illnesses such as nausea and giddiness, which is a fairly unique feature considering other plans typically only cover pregnancy-related emergencies.
- Allianz Travel: .
- MSIG:
| Insurer | Premium |
|---|---|
| S$73.45 |
| S$78.68 |
| S$61 |
| Premiums are for 1 week trip to ASEAN destinations | |
If you are relatively insensitive to price and are looking for a travel insurance plan with maximum coverage, we think Allianz Travels’s Platinum Plan, Singlife's Travel Prestige Plan and MSIG's TravelEasy Premier Plan could be great options. Though they can be pricey, they are still priced competitively to other premium travel insurance plans on the market, while providing the leading benefits for travel inconvenience, medical or personal accident claims, respectively.
Allianz Platinum offers the most trip inconvenience coverage, making it ideal for travellers concerned about flight delays or lost baggage. As a point of reference, 60% of travel insurance claims are related to travel inconvenience, meaning this plan will provide valuable coverage. Lastly, it also offers two unique coverages for the current climate-pandemic coverage and cruise coverage. For instance, you may be able to claim for a trip cancellation if you or someone you know contract COVID-19 before your trip. Cruise travellers will also receive some of the best benefits on the market, like a cabin confinement benefit, a missed port of call benefit or a cruise coverage boarding denial benefit.
Singlife Prestige is recommended for travellers who care most about medical benefits, like to personalise their coverage, or who want to have the option to cancel their trip for any reason. Aviva also has a lot less exclusions than the average travel insurance plan, as it lets you purchase optional coverage for a variety of things from extreme sports to weddings.
Both Allianz and Aviva are also good options to consider if you will be going on a cruise, provided your departure port is from Singapore.
Lastly, MSIG TravelEasy Premier can be a great travel plan for families who want a wide variety of coverage without paying extra for it. For instance, MSIG's coverage automatically includes everything from rental car excess coverage to adventurous activities to wedding dress coverage. You will also be covered for pregnancy-related illnesses such as nausea and giddiness, which is a fairly unique feature considering other plans typically only cover pregnancy-related emergencies.
Best Travel Insurance for Pre-Existing Medical Conditions
| Our Picks: | ||
| Premium^: | ||
| Medical | S$250,000 | S$500,000 |
| Accident/Death | S$150,000 | S$200,000 |
| Cancellation | S$5,000 | S$10,000 |
| Trip Delay | S$1,500 | S$1,500 |
| COVID-19 Coverage? | Yes | Yes |
| ^1-week premium for trip to ASEAN destinations | ||
- MSIG:
If you have pre-existing medical conditions and cost is not an issue, Income's Enhanced PreX travel insurance plans may be a good fit. Despite its 50% deductible if you claim for travel inconvenience (only available for the Prestige and Superior plans), it is currently only one of 3 insurers on the market who offer coverage for pre-existing conditions for you and your family members. Unfortunately, the Enhanced PreX plans can be quite pricey, with premiums for a 1-week ASEAN trip costing S$86 — almost 3x as much as the basic plan average.
Single travellers on a budget may save a bit more with MSIG's PreX Premier plan, which costs around 20% less than Income for a 1-week ASEAN trip. It can also be a good option for the elderly as there is no age limit for purchasing the plan. You can expect up to S$150,000 of medical coverage and S$200,000 of medical evacuation coverage due to your pre-existing condition. However, you should note that you can not buy an annual version of this plan.
| Insurer | Premium |
|---|---|
| from S$102.00 |
| S$64.00 |
| Premiums are for 1 week trip to ASEAN destinations | |
- MSIG:
If you have pre-existing medical conditions and cost is not an issue, Income's Enhanced PreX travel insurance plans may be a good fit. Despite its 50% deductible if you claim for travel inconvenience (only available for the Prestige and Superior plans), it is currently only one of 3 insurers on the market who offer coverage for pre-existing conditions for you and your family members. Unfortunately, the Enhanced PreX plans can be quite pricey, with premiums for a 1-week ASEAN trip costing S$86 — almost 3x as much as the basic plan average.
Single travellers on a budget may save a bit more with MSIG's PreX Premier plan, which costs around 20% less than Income for a 1-week ASEAN trip. It can also be a good option for the elderly as there is no age limit for purchasing the plan. You can expect up to S$150,000 of medical coverage and S$200,000 of medical evacuation coverage due to your pre-existing condition. However, you should note that you can not buy an annual version of this plan.
Cheapest Travel Insurance for ASEAN Destinations
| Our Picks: | ||
| Entry | Basic | |
| Premium/Week | ||
| Medical | S$200,000 | S$150,000 |
| Accident/Death | S$150,000 | S$200,000 |
| Cancellation | S$5,000 | S$5,000 |
| Trip Delay | S$300 | S$1,000 |
| COVID-19 Coverage? | Yes (If you opt for Tiq's COVID-19 coverage add-on) | No |
- Etiqa:
- HL Assurance: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
We found Etiqa and HL Assurance offer the cheapest travel insurance plans for ASEAN travel. Their travel insurance policies only cost about S$22 to S24 for 1-week coverage in ASEAN, which is 30-40% lower than the industry's basic plan average of S$35. However, that's not to say their cheap prices mean modest coverage, as these four options also provide comprehensive benefits.
Etiqa's Tiq travel insurance offers cheap but high value travel insurance plans due to its generous ongoing promotions. It costs 35% less for ASEAN trips than with other insurers with its Basic plan. However, its total trip inconvenience coverage is the lowest of the four, so it may not be the best choice for those who want high coverage for things like flight delays, cancellations and lost baggage. Despite this, it can be a handy plan for budget travellers who want coverage for adventurous activities without having to pay extra.
HL Assurance travel insurance offers all-encompassing coverage for below average prices. It also includes useful benefits like home contents, rental car excess and travel agency insolvency coverage. HL Assurance's trip inconvenience coverage is also one of the highest for the price point, making it a competitive option for travellers looking to protect their belongings and itinerary.
- Etiqa:
- HL Assurance: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
| Insurer | Premium |
|---|---|
| S$39.00 |
| S$34.80 |
| Premiums are for 1 week trip to ASEAN destinations | |
We found Etiqa and HL Assurance offer the cheapest travel insurance plans for ASEAN travel. Their travel insurance policies only cost about S$22 to S24 for a 1 week coverage in ASEAN, 30-40% lower than the industry's basic plan average of S$35. However, that's not to say their cheap prices mean modest coverage, as these four options also provide comprehensive benefits.
Etiqa's Tiq travel insurance offers cheap but high value travel insurance plans due to its generous ongoing promotions. It costs 35% less for ASEAN trips than with other insurers with its Basic plan. However, its total trip inconvenience coverage is the lowest of the 4, so it may not be the best choice for who want high coverage for things like flight delays, cancellations and lost baggage. Despite this, it can be a handy plan for budget travellers who want coverage for adventurous activities without having to pay extra.
HL Assurance travel insurance offers all-encompassing coverage for below average prices. It also includes useful benefits like home contents, rental car excess and travel agency insolvency coverage. Its trip inconvenience coverage is also one of the highest for the price point, making it a competitive option for travellers looking to protect their belongings and itinerary.
Cheapest Travel Insurance for Asia Destinations
| Our Picks: | |||
| Premium | Basic | Entry | |
| Premium/Week | |||
| Medical | S$200,000 | S$150,000 | S$200,000 |
| Accident/Death | S$200,000 | S$200,000 | S$150,000 |
| Cancellation | S$7,500 | S$5,000 | S$5,000 |
| Trip Delay | S$300 | S$1,000 | S$300 |
| COVID-19 Coverage? | Yes (If you opt for FWD's COVID-19 coverage add-on) | No | Yes (If you opt for Tiq's COVID-19 coverage add-on) |
- FWD: ;
- HL Assurance: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
- Etiqa:
For trips in Asia (outside of ASEAN) to locations like Taiwan, Korea or Japan, we found thatFWD, HL Assurance and Etiqa generally offered the most competitive prices. Their single trip plans cost only about S$23 to S$27 for a 1-week trip to Asia, compared to the average price of S$45 for all of the basic plans in our sample.
Similar to our discussion for ASEAN trip policies, FWD's Premium plan is a good option to consider if you are planning on going on a cruise around Asia and want cheap but comprehensive trip coverage. It is also good for adventurers and those looking to maximise value for money as there are very little exclusions and above average coverage for trip cancellations, baggage delays and curtailment.
HL Assurance does not have outstanding coverage in one area or another compared to the other four plans, but it does provide solid benefits for a very competitive price. For instance, while it offers below average medical expense coverage, it does offer one of the highest per baggage item loss benefits.
Etiqa's Tiq Travel Insurance will consistently be one of your cheapest travel insurance options, especially if you are purchasing a plan on Fridays. In addition to offering comprehensive coverage for extreme activities like winter sports, Tiq also gives you the option to insure your sports equipment for an extra S$14, making it a good choice for budget adventurous travellers.
- FWD: ;
- HL Assurance: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
- Etiqa:
| Insurer | Premium |
|---|---|
| S$21.75 |
| S$38.40 |
| S$43.00 |
| Premiums are for 1 week trip to Asia destinations | |
For trips in Asia (outside of ASEAN) to locations like Taiwan, Korea or Japan, we found that FWD, HL Assurance and Etiqa generally offered the most competitive prices. Their single trip plans cost only about S$23 to S$27 for a 1-week trip to Asia, compared to the average price of S$45 for all of the basic plans in our sample.
Similar to our discussion for ASEAN trip policies, FWD's Premium plan is a good option to consider if you are planning on going on a cruise around Asia and want cheap but comprehensive trip coverage. It is also good for adventurers and those looking to maximise value for money as there are very little exclusions and above average coverage for trip cancellations, baggage delays and curtailment.
HL Assurance does not have outstanding coverage in one area or another compared to the other four plans, but it does provide solid benefits for a very competitive price. For instance, while it offers below average medical expense coverage, it does offer one of the highest per baggage item loss benefits.
Etiqa's Tiq Travel Insurance will consistently be one of your cheapest travel insurance options, especially if you are purchasing a plan on Fridays. In addition to offering comprehensive coverage for extreme activities like winter sports, Tiq also gives you the option to insure your sports equipment for an extra S$14, making it a good choice for budget adventurous travellers.
Cheapest Travel Insurance for Global Destinations
| Our Picks: | ||||
| Premium | Entry | Basic | Basic | |
| Premium/Week | ||||
| Medical | S$200,000 | S$200,000 | S$150,000 | S$50,000 |
| Accident/Death | S$200,000 | S$150,000 | S$200,000 | S$50,000 |
| Cancellation | S$7,500 | S$5,000 | S$5,000 | N/A |
| Trip Delay | S$300 | S$300 | S$1,000 | N/A |
| COVID-19 Coverage? | Yes (If you opt for FWD's COVID-19 coverage add-on) | Yes (If you opt for Tiq's COVID-19 coverage add-on) | No | No |
- FWD:
- Etiqa:
- HL Assurance: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
The cheapest travel insurance plans for worldwide travel (i.e. Europe, America, Africa, etc.) are the same as the were for ASEAN and Asia trips: FWD's Premium, HL Assurance Basic, Budget Direct Basic and Etiqa Basic.
FWD and Etiqa are great options because of their combination of affordability and generous benefits. For instance, adventurous travellers will benefit from FWD and Etiqa's Tiq Travel Insurance, which offers low prices but comprehensive coverage for a variety of adventurous activities including skiing and hiking (within limits). 1-week premiums for both single trip plans cost around 40% below average compared to other basic travel insurance plans on the market.
HL Assurance offers some of the highest trip inconvenience (cancellations, trip delays, baggage loss, etc.) coverage for the price point, making it beneficial for travellers going to brand new destinations. It also offers useful benefits like home contents, rental car excess and travel agency insolvency coverage. Despite the plethora of coverage, HLAS travel insurance consistently costs below average.
Budget Direct's Basic Plan tends to be the cheapest travel insurance plan on the market, though its benefits are also the lowest. For example, it costs around 60% below average and offers only S$900 of trip inconvenience (made up of personal belongings coverage) and S$50,000 of medical coverage. Because of its below-average coverage compared to more comprehensive plans, it is a good option for people going to familiar destinations to visit family or friends and only want emergency medical coverage.
- FWD:
- Etiqa:
- HL Assurance: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
| Insurer | Premium |
|---|---|
| S$37.80 |
| S$39.00 |
| S$32.03 |
| S$49.20 |
| Premiums are for 1 week trip to global destinations | |
The cheapest travel insurance plans for worldwide travel (i.e. Europe, America, Africa, etc.) are the same as the were for ASEAN and Asia trips: FWD's Premium, HL Assurance Basic, Budget Direct Basic and Etiqa Basic.
FWD and Etiqa are great options because of their combination of affordability and generous benefits. For instance, adventurous travellers will benefit from FWD and Etiqa's Tiq Travel Insurance, which offers low prices but comprehensive coverage for a variety of adventurous activities including skiing and hiking (within limits). 1-week premiums for both single trip plans cost around 40% below average compared to other basic travel insurance plans on the market.
HL Assurance offers some of the highest trip inconvenience (cancellations, trip delays, baggage loss, etc.) coverage for the price point, making it beneficial for travellers going to brand new destinations. It also offers useful benefits like home contents, rental car excess and travel agency insolvency coverage. Despite the plethora of coverage, HLAS travel insurance consistently costs below average.
Budget Direct's Basic Plan tends to be the cheapest travel insurance plan on the market, though its benefits are also the lowest. For example, it costs around 60% below average and offers only S$900 of trip inconvenience (made up of personal belongings coverage) and S$50,000 of medical coverage. Because of its below-average coverage compared to more comprehensive plans, it is a good option for people going to familiar destinations to visit family or friends and only want emergency medical coverage.
Best Annual Travel Insurance Plans
Annual travel insurance insures your trips year-round, as long as your destination is within your insurance coverage. Given that 1-week coverage usually costs about S$40 to $70 depending on the region, we recommend getting an annual insurance for people who travel more than 5-6 times per year. Below, you'll find our top picks based on cost and value.
Cheapest Annual Travel Insurance
| Our Picks: | ||||
| Premium | Entry | Basic | ||
| Premiums^: | ||||
| Medical | S$200,000 | S$200,000 | S$50,000 | |
| Accident/Death | S$200,000 | S$150,000 | S$50,000 | |
| Cancellation | S$7,500 | S$5,000 | N/A | |
| Trip Delay | S$300 | S$300 | N/A | |
| COVID-19 Coverage? | Yes (If you opt for FWD's COVID-19 coverage add-on) | Yes (If you opt for Tiq's COVID-19 coverage add-on) | No | |
| ^Annual plan premiums for ASEAN coverage | ||||
- FWD: .
- Etiqa:
If you are looking for basic coverage for rock bottom prices, Budget Direct, FWD and Etiqa will be good matches. These plans cost 25-37% below average compared to basic tier annual plans.
FWD can be a good choice for travellers who care about travel inconvenience coverage and sports coverage (for accidents and equipment damage). It costs between S$161-S$214 per year during its ongoing 10% promotion, but if you catch FWD during a higher promotion it can easily become one of the top 3 cheapest plans on the market. Overall, if you are looking for an annual plan that doesn't break the bank and doesn't skimp on coverage, FWD will be the right choice.
While Etiqa's Tiq Entry plan has fairly modest coverage across the board, it is currently one of the cheapest annual plans on the market. While the rock bottom prices can be enticing to budget travellers, is worth pointing out that Etiqa also offers a plethora of valuable benefits. For instance, it offers coverage for adventurous activities and S$1 million of medical evacuation coverage — 30% higher than the basic plan average. Considering that evacuations are some of the most expensive claims, this can be a very valuable benefit for adventurous travellers and the elderly.
Budget Direct's Basic plan will benefit travellers who are looking for some of the cheapest annual plans on the market. Otherwise, travellers may not find much benefit due to Budget Direct's lack of trip cancellation and delay coverage and rather low medical benefits.
- FWD:
- Etiqa:
| Insurer | Premium |
|---|---|
|
|
|
|
|
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If you are looking for basic coverage for rock bottom prices, Budget Direct, FWD and Etiqa will be good matches. These plans cost 25-37% below average compared to basic tier annual plans.
FWD can be a good choice for travellers who care about travel inconvenience coverage and sports coverage (for accidents and equipment damage). It costs between S$161-S$214 per year during its ongoing 10% promotion, but if you catch FWD during a higher promotion it can easily become one of the top 3 cheapest plans on the market. Overall, if you are looking for an annual plan that doesn't break the bank and doesn't skimp on coverage, FWD will be the right choice.
While Etiqa's Tiq Entry plan has fairly modest coverage across the board, it is currently one of the cheapest annual plans on the market. While the rock bottom prices can be enticing to budget travellers, is worth pointing out that Etiqa also offers a plethora of valuable benefits. For instance, it offers coverage for adventurous activities and S$1 million of medical evacuation coverage — 30% higher than the basic plan average. Considering that evacuations are some of the most expensive claims, this can be a very valuable benefit for adventurous travellers and the elderly.
Budget Direct's Basic plan will benefit travellers who are looking for some of the cheapest annual plans on the market. Otherwise, travellers may not find much benefit due to Budget Direct's lack of trip cancellation and delay coverage and rather low medical benefits.
Best Value Annual Travel Insurance
| Our Picks: | ||
| Silver | Plus | |
| Premiums^: | N/A | |
| Value Ratio | 2.02 | 1.10 |
| Medical | S$1,000,000 | S$2,000,000 |
| Accident/Death | S$80,000 | S$100,000 |
| Cancellation | S$15,000 | S$15,000 |
| Trip Delay | S$1,500 | S$1,000 |
| COVID-19 Coverage? | Yes | Yes |
| ^Annual plan premiums for ASEAN coverage | ||
- Allianz Travel: .
Though Allianz's Travel's Silver plan is one of the pricier insurers for Asia and Global annual trip plans, its unique coverage for COVID-19, cruises and 24/7 emergency services can potentially be worth the extra cost. Furthermore, Allianz Travel's Silver plan really outshines its competitors with its travel inconvenience coverage (coverage for cancellations, trip delays, curtailments, baggage loss, etc.). In fact, its S$30,000 of travel inconvenience coverage is significantly greater than the industry average of S$18,000. However, Allianz is quite restrictive in its exclusions, so you should be sure to read the policy wording before purchasing.
Singlife with Aviva's Travel Plus offers above average coverage for competitive prices and can be a winner for travellers who are looking for flexible medical and trip inconvenience coverage. For instance, its Plus plan also lets you cancel or change your trip dates for any reason, which is a unique feature among travel insurance policies. Additionally, you'll receive coverage for certain childbirth and pregnancy conditions, as well as S$2,000,000 of overseas medical coverage. Lastly, frequent flyers will also benefit from Aviva's frequent flyer points benefit, which lets you recover the points you spent on a trip you have to cancel.
- Allianz Travel: .
| Insurer | Premium |
|---|---|
|
|
|
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Though Allianz's Travel's Silver plan is one of the pricier insurers for Asia and Global annual trip plans, its unique coverage for COVID-19, cruises and 24/7 emergency services can potentially be worth the extra cost. Furthermore, Allianz Travel's Silver plan really outshines its competitors with its travel inconvenience coverage (coverage for cancellations, trip delays, curtailments, baggage loss, etc.). In fact, its S$30,000 of travel inconvenience coverage is significantly greater than the industry average of S$18,000. However, Allianz is quite restrictive in its exclusions, so you should be sure to read the policy wording before purchasing. _ Aviva's Travel Plus offers above average coverage for competitive prices and can be a winner for travellers who are looking for flexible medical and trip inconvenience coverage. For instance, its Plus plan also lets you cancel or change your trip dates for any reason, which is a unique feature among travel insurance policies. Additionally, you'll receive coverage for certain childbirth and pregnancy conditions, as well as S$2,000,000 of overseas medical coverage. Lastly, frequent flyers will also benefit from Aviva's frequent flyer points benefit, which lets you recover the points you spent on a trip you have to cancel.
Why Do I Need Travel Insurance?
Travel insurance will provide financial protection if anything were to happen on your trip. Think about how expensive your trip is and how long it took you to save up for it, especially if you're travelling with your family. Even a 3-day trip can cost several hundred dollars for a family of 3. Furthermore, some portions of your holiday may even be unrefundable like certain flights, hotels or excursions. Travel insurance will cover all the costs of your trip for a fraction of the price in case your flight gets delayed or cancelled, you lose your luggage or if you or your child gets sick and need hospital care.
How to Choose the Best Travel Insurance
Finding the right travel insurance can be simple if you know what you're looking for. First, you should figure out what kind of plan you need — either a single trip plan or an annual trip. Single trip plans are good if you travel infrequently while annual plans may be the more economical choice if you travel more than five times a year. Annual plans can also help you avoid the hassle of comparing travel insurance plans for every trip. Next, you should also determine your furthest destination to make sure there are no lapses in coverage. For instance, if you will be touring the ASEAN but will also stop in Japan, you should purchase an Asia coverage plan.
You should also take a note of whom you're travelling with, what you'll be doing and how that will impact the amount of coverage you'll require from a travel insurance plan. In general, travel insurance gets more expensive the more people you add to it, although some insurers may offer a slight discount if you are travelling with a group. If you will be travelling with your family, you should find a plan that is not only affordable, but also caters to your family's needs. For example, couples who like to do adventurous activities should find a plan that covers their active itinerary, especially if some of these activities run the risk of injury.
On the other hand, families with small children or elderly relatives should look for a plan offering generous medical and travel inconvenience coverage to cover any emergency expenses and minimise the burden of flight delays or lost luggage. Some plans even offer coverage for pre-existing medical conditions, which can be an investment worth getting to avoid a claim denial. A plan with good medical coverage, trip delay/cancellation and emergency assistance benefits can help get you through most travel-related emergencies if you're travelling alone.
When you know the basics of your trip and what kind of coverage you require, you'll be able to parse through travel insurance plans a lot easier. An important thing to note is that you shouldn't settle for the cheapest option every time. It may be worth paying extra for more comprehensive coverage if you are going to a brand-new destination or if you have medical issues. On the other hand, getting a cheap plan with simple coverage may be sufficient for a brief trip to a familiar destination.
What to Know If You're Travelling With Pre-Existing Conditions
As you may have seen above, some travel insurance plans will cover pre-existing medical conditions. Typically, these plans cost a lot more than plans that don't cover pre-existing conditions due to the higher risk, but they can be a lifesaver for people who will have difficulty travelling without these conditions being covered.
So what do insurers consider to be a pre-existing condition? It's a chronic injury or sickness that you have been treating in the past 12 months before you buy your travel insurance policy. It can also be an injury or sickness that you have asked to get medical treatment for by your doctor within 12 months of starting your trip or buying insurance. Some examples of pre-existing conditions are:
- Asthma
- Eczema
- Heart Attack
- Stroke
- High Blood Pressure
- Diabetes
- Cancer
- Lupus
Even with pre-ex plans, some conditions won't be covered. This includes conditions that deteriorated suddenly and became a serious illness. You must also be getting treated for your condition and not refusing or delaying treatment, medication or testing. Lastly, you won't be covered if you had to receive treatment more than once for your condition at an A&E, had to stay in a hospital for more than 3 days in a row or had to stay as an inpatient more than once in the 12 months preceding your trip.
Frequently Asked Questions
Have a question about travel insurance? Find your answer below.
Currently, high-risk countries include Argentina, Bahrain, Bangladesh, Bolivia, Botswana, Brazil, Burma (Myanmar), Cape Verde, Central African Republic, Chile, Colombia, Republic of the Congo, Democratic Republic of the Congo, French Guiana, Georgia, Guinea-Bissau, Haiti, India, Iraq, Kuwait, Latvia, Liberia, Lithuania, Madagascar, Malawi, Malaysia, Maldives, Mongolia, Mozambique, Namibia, the Netherlands, Nepal, Nicaragua, Oman, Pakistan, Papua New Guinea, Paraguay, Reunion, Rwanda, Saudi Arabia, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Suriname, Sweden, Trinidad and Tobago, Uganda, United Arab Emirates, Uruguay, and Zambia.
Please click here for updated information on high-risk countries or visit the Ministry of Health's website for Singapore-specific travel restrictions. It's also important to note that you may not be covered for COVID-19 related claims if you purchase travel insurance for travel to these destinations.
As of July 8, 2021, several countries are experiencing increasing rates of infection and may be risky for travel. Singapore has multiple travel lanes that determine who can enter the country based on the traveller's profile and point of departure; further details on travel lanes can be found here. Upon arrival to Singapore, you may be ordered to serve a mandatory Stay-Home Notice (SHN), depending on your 21 days of travel history and PCR test results (which may be required depending on the risk level of the countries you travelled to).
If you are travelling outside of Singapore, please check with your destination country for their COVID-19 precautionary requirements. It's also important to note that if you are planning a trip and have recently bought a travel insurance policy, you may not be eligible for claims related to COVID-19.
Updates on the COVID-19 pandemic and Singapore's response is rapidly changing. Because of recent COVID-19 spikes worldwide, Singapore has determined only Brunei Darussalam, New Zealand and Mainland China okay for non-essential travel. To stay updated, please click here.
No, travel insurance isn't mandatory. However, it is highly recommended if you will be travelling to new destinations or participating in adventurous activities.
You should buy travel insurance preferably as soon as you book your trip. The latest you can buy a policy is one day before your trip, although some insurers reduce coverage for cancellation benefits three days before your travel date. You can not buy a travel insurance policy after you have left for your trip.
While travel insurance policies generally have similar exclusions, some insurers may cover things that others don't. While we list some of the common exclusions below, you should still read the policy wording of your travel insurance policy to know exactly what is and isn't covered.
| Medical Exclusions | Trip Inconvenience Exclusions |
|---|---|
| Pre-existing conditions (unless plan explicitly states otherwise) | Participation in professional or compensated sports |
| Mental disorders | Items taken by customs officials or that are left unattended |
| Unnecessary dental expenses | Travelling against advice of regulatory authorities |
| Pregnancy-related events unless mother is at risk | Travelling to a country at war |
| Travelling when medically unfit | Claims paid for by other insurers |
| Mandatory Quarantines | Inability to travel due to business or contractual obligations |
Each insurer has their own way of receiving claims. Most insurers have switched over to online submissions where you can upload and submit your claim and all your supporting documents. Some insurers even let you submit smaller claims through their travel apps. You also have the option to mail the documents. Travel insurance claims should be submitted within 30 days of your return. 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 what type of claim.
Alternatives to Travel Insurance
If you want to purchase travel insurance to cover your trip, but do not want to spend extra on a policy, there are ways of getting free travel insurance coverage. For example, there are travel credit cards that provide free travel insurance coverage to their cardholders. Though some of these cards can get costly, the insurance packages included are quite comprehensive. For more information, we prepared a list with detailed analysis of cards with complimentary travel insurance.
Methodology
By collecting hundreds of data points from all the travel insurance offerings in Singapore, we were able to gain insight on dozens of plans offered by more than 20 insurers. The data we collected benefit coverages from personal accident, medical, emergency repatriation, trip cancellation, lost or damaged baggage, trip/baggage delays to sports coverage. We also collected pricing information for each product by destination country and by duration of coverage (1-week, 2-week and annual). To see all of the companies we analysed, please see the table below.
| Insurance Companies In Sample | ||||
|---|---|---|---|---|
| AIG | Chubb | EQ | Hong Leong Group | SOMPO Insurance |
| Allianz Travel | AXA@Post | ERGO | Liberty Insurance | Tokio Marine Insurance Group |
| American Express | DBS | Etiqa | MSIG | Wise Traveller |
| Aviva | Direct Asia Insurance | FWD | Income | Budget Direct Insurance |
| Citibank | Great Eastern | AIA | Hyfe Assure | |
In order to arrive at our top picks for travel insurance, we looked at multiple factors. First, we considered the amount of money one is entitled to when certain events occur (i.e. medical and trip inconvenience). Then, we created a benefits to cost ratio to measure the value of each product. This measure is a proxy for how much an insured person gets for what he pays. We weighed each benefit area in terms of frequency of claims: travel inconvenience was given a weight of 60% while personal accident and medical benefit was given a weight of 40%.
The graph below illustrates how different companies compare based on the value ratio we utilised. This particular example assumes a 1-week trip within ASEAN region — however, this can vary for other regions and for longer trips, especially if you purchase an annual package.
