What Type of Travel Insurance Should You Buy?

Safeguard your holiday with the right travel insurance plan. Not all trips require the same kind of travel insurance. Use these 3 questions to figure out what type of travel insurance you need.

Travel Insurance can be a confusing concept for those new to it, and there can be many questions such as whether single trip or annual travel insurance is better, what the right travel insurance is for your specific needs, and what exactly the difference is between family and group travel insurance, which you’ve probably done research for already, which is why we’ve come up with 3 questions to help you find the right travel insurance for you.

1) What insurance do you currently have?

Your existing insurance plan may cover you in case of accidents, hospitalisation, or death. But check if that protection applies in Singapore only, or extends worldwide.

For example, your accidental death and injury plan may provide global coverage, while your hospitalisation benefits only apply to Singapore. In this case, you would receive a payout for the accident and injuries you suffered, but will have to pay out of pocket for any hospital fees incurred overseas. Worldwide medical coverage plans are usually rare and expensive.

However, global care plans are also likely to include coverage for emergency evacuation and repatriation, which covers the cost of flying you back to Singapore for treatment.

Confirm what your existing insurance plans cover you for and where. If you have sufficient protection in your destination (including evacuation and repatriation), travel insurance might not be necessary.

2) What will you be doing on your trip?

Just because you’re covered for every possible mishap doesn’t give you the licence to jump out of airplanes at the word “Geronimo!” – not even if that’s the specific purpose of your trip.

You see, insurance is less like your cool bachelor surfer uncle, and more like your buttoned-up, eyeglass-pushing one. Insurance exists to cover you against risks of daily life. It’s not so you can go swimming with manta rays during their annual mass migration.

Read the fine print of your insurance policies, and you’ll quickly find a list of dangerous activities that disqualify you for coverage, should anything untoward happen while you’re engaged in those activities.

Hence, if you’re flying to Italy to take part in the running of the bulls, followed by a hot air balloon ride before dropping into the sea for free-diving and spearfishing, know that whatever travel insurance plan you signed up for will be voided. Instead, you need a separate insurance plan for extreme sports and risky activities.

Even if you manage to find an insurer brave enough to insure you, be prepared to pay a hefty premium.

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3) Who and what is going on the trip with you?

Are you travelling with relatives, kids or elderly in tow? You might want to compare travel insurance plans which cover the entire family. Research the age limits of coverage for seniors’ travel insurance to ensure they too get the required protection.

Also check if anyone in the group has any pre-existing conditions that might exclude them from strenuous activities, which might make any claims void.

When it comes to property, laptops, camera, watches, bags and jewellery can all cost a pretty penny. Check the maximum cap amount you can claim for each item too.

Compare and apply for the best travel insurance on SingSaver

Now that you know what you need to consider, we've also summarised some of the best travel insurance promotions on the market here; all you need to do is just pick the one that suits your needs and price point. Alternatively, compare and apply through our comparison table for great savings as well.

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Protected up to specified limits by SDIC.

Note: 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 are not suitable for you may impact your ability to finance your future healthcare 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.