When it comes to insurance, it is of significant value that the provider you select is trustworthy.
Searching online is a great idea and gives you a lot of information, and you are likely to come across global brands like AIG, AVIVA and the likes and sadly can turn overwhelming.
However, it is imperative to select the right insurance company that will provide you benefits depending upon your travel plans.
With an approximate 85% increase in travel claims for incidents such as natural disasters and epidemics causing disadvantageous effects on travelers resulted in a costliest 2016 regarding claims.
Travel insurance companies predict a 10% increase in demand for premium travel insurance offering more significant amount in the cover is becoming a trend with international travelers and this trend will be increasing throughout 2017 as well.
We have, therefore, created a list of reputed travel insurance companies in Singapore after hours of research, that you can select without any hesitation and enjoy stress-free travels.
Types of travel insurance currently available in Singapore
There are two types of travel insurance that you can choose from that are presently available in Singapore.
1. Multi-Trip Travel Insurance: If you frequently travel throughout the year, you can opt for the multi-trip travel plan.
Two main reasons to purchase this insurance: 1) You only have to go through the hassle once a year and 2) you get a better deal than buying on every trip.
2. Single-Trip Travel Insurance: So, you don’t travel too often. Then, the single-trip travel insurance is the ideal option for you, if you are planning on vacation or that going for that annual business trip.
What are companies considered the best travel insurance providers in Singapore?
When the time comes that you need a travel insurance plan, we have selected a list of reputable and popular travel insurance companies in Singapore that offer better value for your money.
1. CitiTravel: Offers premiums for a single trip plan that starts from 11.50 SGD and you can appreciate their premium savings for an individual, family, and various travel plans. Offers medical expenses cover of up to 2,500,000 SGD.
2. AVIVA Travel: Offers premiums for a single trip plan that starts from 11.88 SGD with a choice of 2 plans on single and multi-trip plans. Offers medical expenses cover of up to 2,000,000 SGD.
3. DBS TravelShield: Offers premiums for an individual trip plan that starts from 14.21 SGD with a choice of 2 plans on single and multi-trip plans. Offers medical expenses cover of up to 1,000,000 SGD. Also, offers adventure sports activities coverage under their premium plans and compensations of up to 2,000 SGD for baggage delays.
4. AIG Direct Travel Guard: Offers premiums for a single trip plan that starts from 11 SGD on single and multi-trip plans. Offers medical expenses cover of up to 2,000,000 SGD. Covers in the event of a natural disaster and offer trip cancellation protection.
5. Columbus Travel: Offers premiums for a single trip plan that starts from 26 SGD on single and multi-trip plans. Offers medical expenses cover of up to 100,000 SGD. Covers follow-up medical treatment expenses in Singapore. Columbus Travel, Provides unlimited cover to all ATAP Emergency Medical Evacuation and Repatriation expenses.
Criteria to choose the best travel insurance
Start by recognizing the most critical coverage depending upon your travel and the place. Check for the following list of rules in your travel insurance and make an informed decision.
• Emergency Medical
• Medical Evacuation
• Pre-existing Medical Conditions
• Terrorism
• Cancellations
• Trip Interruption
• Loss or Delays
• Baggage Delay or Loss
• Life Insurance
• Health Insurance
• Air Flight Accident or Accidental Death
These days you can use the comparison tool offered on multiple websites to compare plans based on your criteria. When selecting the correct travel insurance, focus on the coverage/limits on flight delay, trip postponement, trip cancellation, as these are most likely reasons for claims.