Best Insurance Plans For Singapore Travelers Heading Overseas
The travelling season is here, where the airports are busy bursting with foreigners and locals coming in and going out respectively. One thing is sure, that travel insurance rates in Singapore are quite super-competitive. Well, thanks to all travelers, but that does not mean that you go picking any Tom, Dick, and Harry type of travel insurance you come across. Purchasing insurance based on its price isn’t the best way to make a perfect choice, you might end up regretting the entire trip.
Travel insurance in Singapore
Just like their competitive rates, travel insurances are quite a number in Singapore. Some little research won’t hurt but will open your mind on what each cover, how long it covers and whether they allow trip cancellation incase you are unable to travel. One sure way of going about it is focusing on the comprehensive coverage, check the medical, liability,and the number of people to be included. If you’re travelling with kids or the elderly, you may need comprehensive insurance that will cover almost all costs, incase of accidents or sickness and luggage protection.
The most economical travel insurance in Singapore
Singaporeans have a tendency of whining about everything—how you’re too busy and lack time to do research and get the insurance documents…blah blah blah. Therefore, you end up getting the readily available and affordable travel insurance in town and begin doing the basic things like going to Bangkok to shop, to Hong Kong to have some dim sum and visiting Japan to take 532,789 pics of the cherry blossoms. Well, it is Singapore no one cares what you do with your holiday. It is up to you to determine what fun is to you, and how you go about it is no one else’s business.
The other batch that enjoys thrilling stuff like extreme sports has the opportunity to travel and tour various countries. A nature enthusiast can visit the beautiful amazon forest and camp there. However, there are two fundamental questions to ask before you proceed; whether you are reasonably confident that nothing weird will happen during your trip, and whether you have been there before. If the answer is yes, then you don’t need to spend too much money on travel insurance.
You can pick any from the three most affordable insurances:
- Aviva travel insurance
- FWD travel insurance
- Etiqa travel insurance
The cost, in this case, should be your top most priority but also worth checking a couple of things:
Ease of purchase and claims
You have put too much energy, time and money on your trip, the last thing you want is trouble with the travel insurance. Ideally, travel insurance should be as hassle-free as possible. It should be something that you can buy online through your computer or phone and claim through the web form with snapshots of your documents.
The processing as we all know may take an eternity for some companies, while others it is a matter of minutes. If you’re not willing to wait for more than one day to process your claim, it would be wise of you to do it earlier enough or choose a company that is faster.
Emergency and medical coverage
The primary limit for overseas medical expense is S$200,000 for the standard plan, confirm with your plan and whether it covers that amount. If you’re going somewhere remote, where healthcare facilities are not reliable, make sure that you get an emergency evacuation limit of at least S$1m so that you can get evacuated back to the country for proper medical care.
Sometimes you may be travelling to visit families in other countries that may be prone to natural disasters, like Indonesia. Check whether you are allowed to cancel the trip. If they are there check how strict the terms and conditions are. Some policies can be stringent when it comes to trip cancellations.
Insurances with the best medical coverage
The purpose of travel insurance in most cases is medical coverage. Anyone can contact high fevers, infections due to change of weather, food, or water and many others. Like we mentioned before the basic coverage amount for a basic travel insurance plan is S$200,000. You can agree that this amount is adequate for almost all destinations primarily in Asia.
However, if you intend to travel to a more expensive place like America, Europe, or Japan, you may need to go back into your pocket and get an advanced insurance plan—with higher limits of course—just incase you are hit with an astronomical medical bill. Most travel insurance policies with the best medical coverage range between S$ 300,000 to S$500,000. These limits can hike anytime and drop depending on various circumstances.
If you are searching for the best insurance in terms of medical coverage, you may want to go for the highest basic plan around. In most cases, these plans offer more coverage that is almost similar to premium. So, to you it will not be a standard insurance plan but a perfect travel insurance deal. Now that you have checked on the medical issue, there are two more unique things to check:
There is absolutely no point of getting travel insurance with high medical coverage if the policy does not cover your travel activities. Aside from the activities perceived “risky” or “dangerous” like skydiving, even the seemingly innocuous activities like skiing, mountain climbing, hot air balloon rides, mountain bike riding, and marathons may be excluded.
Therefore, think about the activities you might want to get involved in out there and check whether it is listed in the policy under the” General Exclusions.” You can even call the insurance office to confirm.
Check how the claims procedure is like. Most insurance companies require you to fork the money upfront before claiming it. One more thing—if the process seems to come from the ages when police officers wore shorts, then consider your money as an investment that you will need to wait for a long time before you see the money again.