Etiqa Travel Insurance: Worth A Buy?
Etiqa Travel Insurance: Worth A Buy?
ValueChampion Rating 
Pros
- Basic plan is one of the cheapest on the market
- Provides real-time tracking of flight delays
- Instant approval for travel delay claims
- Covers Cruise to Nowhere
Cons
- Average benefits for medical and trip inconvenience
- Business plan doesn't stand out in features compared to other top tier plans
Travellers seeking wallet-friendly travel insurance plans in Singapore can benefit with Etiqa's travel insurance plans. Consistently being one of the cheapest plans, Etiqa's Tiq travel insurance combines attractive prices with comprehensive coverage that will please most travellers. However, if your criteria is trip inconvenience coverage, you may not get the coverage you need.
Table of Contents
- Etiqa Travel Insurance: What You Need to Know
- Sports Coverage
- COVID-19 add-on
- Claims Information
- Etiqa Travel Insurance Summary
| Etiqa Insurance Quick Facts |
|---|
| Credit Rating (Fitch): A |
| "Insurer Claims Team of the Year" - Claims Awards Asia Pacific (2017) |
| "Millennial Insurance Initiative of the Year" - Insurance Asia Awards (2020) |
| Feefo Customer Rating: 4.5/5 |
| Offers comprehensive COVID-19 add-on |
Tiq Travel Insurance: What You Need to Know
The main reason you should consider Tiq by Etiqa's travel insurance is its affordability. Tiq's Entry and Savvy plans stand out in particular for offering among the cheapest prices for entry-level and mid-tier travel insurance plans on the Singapore market. Its coverage runs fairly average, but it provides cover for adventurous activity so it can be a good option of students or budget travellers who prefer to be active on their holidays. Etiqa is also a leader in innovation as the first insurer in the Singapore market to provide automatic real-time flight delay claims approval, meaning that you can be reimbursed for your flight delays as soon as they occur.
However, Etiqa may not be the best choice for people who booked luxury trips or need high levels of trip inconvenience coverage. In most cases, Etiqa's travel insurance plans fall below average compared to their peers for trip inconvenience benefits like missed connections, delays, cancellations and baggage loss as well as some medical coverage. Furthermore, its benefits are fairly standard so you won't find much if you are looking for niche coverage like sports equipment, wedding or pregnancy benefits. Thus, we don't recommend Tiq for people who are willing to spend extra for copious amounts of coverage or require niche benefits like sports equipment coverage or pregnancy benefits.
Notable Exclusions
Though Etiqa is lenient with sports-related medical events you can claim, it will not cover your sports equipment, including skis and snowboards. Medical exclusions are standard, including pre-existing conditions (unless you're buying the Pre-Ex plan), pregnancy-related events, mental disorder, suicide and purposeful self-injury. Other main exclusions include participating in illegal activity, participating in war and trips exceeding 182 days.
| Medical Exclusions | Trip Inconvenience Exclusions |
|---|---|
| Pre-existing conditions | Participation in professional or compensated sports |
| Mental disorders | Items taken by customs officials |
| Unnecessary dental expenses | Travelling against advice of regulatory authorities |
| Pregnancy-related events unless life of mother or unborn is endangered | Travelling to a country at war |
| Travelling when medically unfit | Claims paid for by other insurers |
| Loss or damage to leased or rented equipment |
Tiq Travel Insurance Entry Plan
Etiqa has carved out a place for itself in the market for budget travel insurance plans with its Entry plan. It offers some of the lowest prices for coverage within ASEAN and Asia without cutting out the necessary protection you expect in a travel insurance policy. We think this is a great plan for the consumer who is interested in getting as cheap a plan as possible without having to compromise too much on the very features you're looking for in travel insurance anyway. For instance, students and budget travellers who are active will benefit from the low prices, adventurous activity coverage and a solid offering of benefits that cover the most likely travel woes. That said, it is possible to find even cheaper travel insurance plans, like with FWD and Budget Direct, so those looking for rock bottom prices may not find the Entry plan to be the best fit.
| Premiums & Benefits | Entry Plan | Basic Plan Avg. |
|---|---|---|
| 1-Week ASEAN | S$39.00 | S$33.00 |
| 1-Week Global | S$39.00 | S$59.00 |
| Annual ASEAN | S$206.00 | S$191.00 |
| Annual Global | S$177.45 | S$297.00 |
| 1-Week ASEAN Value Ratio | 0.83 | 0.74 |
| Emergency Evacuation | S$1,000,000 | S$550,000 |
| Overseas Medical | S$200,000 | S$206,563 |
| Trip Cancellation | S$5,000 | S$5,816 |
| Trip Delay | S$300 | S$785 |
| Baggage Loss/Damage | S$2,000 | S$3,058 |
| Premiums & Benefits | Entry Plan | Basic Plan Avg. |
|---|---|---|
| 1-Week ASEAN | S$39.00 | S$33.00 |
| 1-Week Global | S$39.00 | S$59.00 |
| Annual ASEAN | S$206.00 | S$191.00 |
| Annual Global | S$177.45 | S$297.00 |
| 1-Week ASEAN Value Ratio | 0.83 | 0.74 |
| Emergency Evacuation | S$1,000,000 | S$550,000 |
| Overseas Medical | S$200,000 | S$206,563 |
| Trip Cancellation | S$5,000 | S$5,816 |
| Trip Delay | S$300 | S$785 |
| Baggage Loss/Damage | S$2,000 | S$3,058 |
Tiq Travel Insurance Savvy Plan
If you're looking for an affordable mid-level, single trip plan, then Etiqa will deliver. Week-long and longer trips cost 20%-40% below average to insure and premiums drop by as much as 50% from the market average for family plans, making Etiqa's Tiq Savvy plan one of the most competitively priced mid-tier plans. However, it offers quite below-average coverage for a mid-tier plan, so those hoping to pay extra for considerably more coverage may not find the Savvy plan's upgrades to be worthwhile, as there are budget plans that can offer more coverage for the same price (or lower). Lastly, Frequent travellers should take note that the Savvy's annual plans cost around the average compared to other mid-tier plans on the market. Therefore, cost-conscious travellers may find a better deal with insurers like DirectAsia and FWD.
| Premiums & Coverage | Savvy Plan | Mid-Tier Industry Avg. |
|---|---|---|
| 1-Week ASEAN | S$40.30 | S$35.00 |
| 1-Week Global | S$51.00 | S$63.00 |
| Annual ASEAN | S$293.00 | S$191.00 |
| Annual Global | S$286.00 | S$297.00 |
| 1-Week ASEAN Value Ratio | 1.06 | 1.01 |
| Emergency Evacuation | S$1,500,000 | S$550,000 |
| Overseas Medical | S$500,000 | S$206,563 |
| Trip Cancellation | S$5,000 | S$5,816 |
| Trip Delay | S$300 | S$785 |
| Baggage Loss/Damage | S$2,000 | S$3,058 |
| Premiums & Coverage | Savvy Plan | Mid-Tier Industry Avg. |
|---|---|---|
| 1-Week ASEAN | S$40.30 | S$35.00 |
| 1-Week Global | S$51.00 | S$63.00 |
| Annual ASEAN | S$293.00 | S$191.00 |
| Annual Global | S$286.00 | S$297.00 |
| 1-Week ASEAN Value Ratio | 1.06 | 1.01 |
| Emergency Evacuation | S$1,500,000 | S$550,000 |
| Overseas Medical | S$500,000 | S$206,563 |
| Trip Cancellation | S$5,000 | S$5,816 |
| Trip Delay | S$300 | S$785 |
| Baggage Loss/Damage | S$2,000 | S$3,058 |
Tiq Travel Insurance Luxury Plan
Etiqa's premium offering, the Luxury Plan, is fairly undistinguished in that it offers below-average to average levels of coverage compared to other top-shelf travel insurance plans while also running near the middle of the pack in terms of pricing. We think that if you're seeking maximum levels of coverage or great value in a premium travel insurance plan, there are superior choices available to you, such as the DirectAsia's DA500 plan.
| Premiums & Benefits | Luxury Plan | Top-Tier Industry Avg. |
|---|---|---|
| 1-Week ASEAN | S$50.70 | S$62.00 |
| 1-Week Global | S$63.60 | S$101.00 |
| Annual ASEAN | S$323.00 | S$294.00 |
| Annual Global | S$319.80 | S$418.00 |
| 1-Week ASEAN Value Ratio | 1.39 | 1.29 |
| Emergency Evacuation | S$1,800,000 | Unlimited |
| Overseas Medical | S$1,000,000 | S$1,064,677 |
| Trip Cancellation | S$10,000 | S$15,087 |
| Trip Delay | S$500 | S$1,426 |
| Baggage Loss/Damage | S$3,000 | S$7,232 |
| Premiums & Benefits | Luxury Plan | Top-Tier Industry Avg. |
|---|---|---|
| 1-Week ASEAN | S$50.70 | S$62.00 |
| 1-Week Global | S$63.60 | S$101.00 |
| Annual ASEAN | S$323.00 | S$294.00 |
| Annual Global | S$319.80 | S$418.00 |
| 1-Week ASEAN Value Ratio | 1.39 | 1.29 |
| Emergency Evacuation | Unlimited | Unlimited |
| Overseas Medical | S$1,000,000 | S$1,064,677 |
| Trip Cancellation | S$10,000 | S$15,087 |
| Trip Delay | S$500 | S$1,426 |
| Baggage Loss/Damage | S$3,000 | S$7,232 |
Sports Coverage
Though Etiqa doesn't have outright sports coverage, it does allow some adventurous activity such as skiing/snowboarding, hiking, scuba diving (above 30 metres), sky-diving, bungee jumping, hang-gliding, paragliding, parachuting and hot air balloon rides. However, there is no option for sports equipment coverage.
COVID-19 add-on
Apart from the Child Education Cover, Rental Car Excess Cover, Pet Hotel Cover and Sport Equipment Protector that Etiqa currently offers, Etiqa has added a comprehensive COVID-19 add-on protecting you before, during and after your trip. However, the COVID-19 add-on coverage is only available to travellers who are fully vaccinated, and fulfil the pre-departure & post-arrival tests requirements imposed by the destination country or transport operator.
| COVID-19 Add-on Benefits | Entry | Savvy | Luxury | |
|---|---|---|---|---|
| Before Trip | ||||
| Travel Postponement | $500 | $1,000 | $1,500 | |
| Trip Cancellation and Loss of Deposit | $3,000 | $4,000 | $5,000 | |
| During Trip | ||||
| Medical Expenses Incurred Overseas | $100,000 | $200,000 | $300,000 | |
| Overseas COVID-19 Diagnosis Quarantine Allowance ($100 every 24 hrs) | $500 | $1,000 | $1,500 | |
| Emergency Medical Evacuation & Repatriation of Mortal Remains to Singapore | $200,000 | $300,000 | $500,000 | |
| Travel Curtailment & Disruption | $3,000 | $4,000 | $5,000 | |
| After Trip | ||||
| Hospitalization Benefit in Singapore | $100 | $200 | $300 | |
Claims Information
To submit a claim with Etiqa, you can either contact Etiqa to get the claims procedures or complete the online claim form and submit it along with the necessary original documentation. If you have a TiqConnect account, you can submit your claims through TiqConnect. You can also conveniently contact their customer care officers via Whatsapp at the number provided below. That said, Tiq Travel Insurance also offers convenient automatic claims 3-hour flight delays (you don't even have to submit a claim) and instant claims encashment via PayNow, which makes it easier than most other insurers to file a claim when a travel inconvenience occurs.
| Contact Information | |
|---|---|
| Customer Service | (65) 6887 8777 |
| 24-Hour Emergency Assistance | (65) 6327 2215 |
| Address | Etiqa Insurance Pte. Ltd. One Raffles Quay, #22-01 North Tower, Singapore 048583 |
| Claims | Submit Online |
Tiq by Etiqa Travel Insurance Summary
- Personal Accident Coverage
- S$30,000-S$500,000
- Trip Delay Coverage
- S$300-S$500
- Baggage Delay Coverage
- S$200
To get the maximum peace of mind on your next trip, it is vital to make sure you will be adequately covered for whatever can happen without breaking your budget. Below, we have a summary of Etiqa's coverage and prices, as well as how it compares to the industry average. If you'd like to compare Etiqa to other plans in the market in more depth, you can read our guide to some of the best travel insurance plans in Singapore.
| Entry | Savvy | Luxury | Industry Average | |
|---|---|---|---|---|
| 1-week ASEAN | S$39.00 | S$40.30 | S$50.70 | S$42.09 |
| 1-week Asia | S$43.00 | S$46.80 | S$59.80 | S$50.11 |
| 1-week Global | S$39.00 | S$51.00 | S$63.60 | S$70.25 |
| Annual ASEAN | S$206.00 | S$293.00 | S$323.00 | S$251.11 |
| Annual Asia | S$141.70 | S$196.95 | S$221.00 | S$264.38 |
| Annual Global | S$177.45 | S$286.00 | S$319.80 | S$353.87 |
| 1-week ASEAN Ratio | 0.83 | 1.06 | 1.39 | 1.01 |
| Annual Global Value Ratio | 1.01 | 1.26 | 1.53 | 1.00 |
| Medical | S$200,000 | S$500,000 | S$1,000,000 | S$598,140 |
| Personal Accident | S$150,000 | S$300,000 | S$500,000 | S$261,588 |
| Emergency Medical Evacuation | S$1,000,000 | S$1,500,000 | S$1,800,000 | S$772,727 |
| Trip Cancellation | S$5,000 | S$5,000 | S$10,000 | S$10,224 |
| Trip Delays | S$300 | S$300 | S$500 | S$1,087 |
| Baggage Loss/Damage | S$2,000 | S$2,000 | S$3,000 | S$5,082 |
| Baggage Delay | S$200 | S$200 | S$200 | S$998 |
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Protected up to specified limits by SDIC. This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future financial needs. If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.