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How much does travel insurance in Singapore typically cost?

by Daniel Donna

Different types of travel insurance in Singapore offer different kinds of coverage. For this reason, the prices of travel insurance plans vary. However, getting a travel insurance plan in Singapore will help you get protection for all circumstances you face while you travel. Below, we will find out how much is travel insurance in Singapore?

Singapore Cost of Travel Insurance

The cost of travel insurance varies as per the destinations and duration of the trip, along with the types of benefits you get. Mostly, travel insurance providers determine the category of the destination depending on three regions. These include- Global, ASIA, and ASEAN. ASEAN comprises South Asian countries; ASIA covers Asian countries as well as Southeast Asia.

The travel insurance price also differs as per the length of the trip. Insurance companies separate their travel insurance plans into annual and single trip coverage. If your stay extends from a week to two weeks, then the cost of your insurance plan can go up by fifty per cent. This applies to both single and annual trip coverage.

Finding the best travel insurance in Singapore

When you choose travel insurance plans for business trips and holidays, you have to take many factors into consideration based on priorities. A few steps that you need to follow while finding out the best travel insurance plan in Singapore are as follows.

  • Go through the general coverage

Though the cost is important while selecting a travel insurance plan, you also need to compare the reimbursement limits and benefits for making common claims. For instance, it can be claimed for damage or theft of baggage, delays and cancellations of flights and trips, and medical expenses.

  • Compare the premiums of policies

The cost of your travel insurance varies according to the length of the stay and the destination you choose. Most companies that provide travel insurance have 2 to 3-tier plans at different prices with different reimbursement limits and comprehensiveness.

  • Coverage of special activities

The expanse of your travel insurance coverage depends on the itinerary. For example, in case you plan on going skydiving, you must ensure that you have a travel insurance policy that offers coverage for aerial sports. Or, if you go to golf overseas, you have to select a policy that insures the equipment.

  • Duration of the trip

It is an important factor to consider while picking your travel insurance plan. Single plans of travel insurance are suitable for short trips. If you are one who travels around the year, it will be best to opt for an annual travel insurance plan.

You will not get a flat premium in a single travel insurance plan, but you can avail of that option for an annual travel insurance plan. The cost of the annual travel insurance plan will be suitable for a person who travels overseas frequently for a trip.

Advantages of getting a travel insurance plan in Singapore

Travel insurance plans provide a lot of benefits and advantages. For instance, if any unfortunate circumstance occurs while you are travelling overseas, your travel insurance will take care of your expenses. Some of the incidents that travel insurance covers are- flight cancellations and delays and medical expenses due to accidents, illness, and severe injury.

So, if you need urgent medical care while you are in a foreign country, you do not have to worry about the expenses as your travel insurance will cover that. In addition, travel insurance plans in Singapore also offer coverage for medical evacuation that can be expensive. For the second section, you will get reimbursements from your travel insurance coverage if you face any travel inconveniences.

COVID-19 Travel Insurance

You can also get a COVID-19 insurance Singapore. This insurance will cover the following.

  • Medical expense overseas
  • Overseas quarantine and in-hospital cash
  • Medical emergency repatriation and evacuation
  • Trip delay, interruption, or cancellation
  • Early return allowance

Conclusion

The same asĀ  finding the best car insurance coverage in Singapore, you can also ask your insurance provider for the best travel insurance. Your selection of the right travel insurance will mainly depend upon the cost and the coverage. You must first find out the requirements for your travel insurance and then make your choice.

If you take seven to eight trips throughout the year to visit your family or for going on vacations, you need to opt for annual travel insurance. In case you only travel once or twice each year, you can look for a single travel insurance plan. The cost of these plans will vary according to the duration of your trip.

You can even ask your insurance provider about COVID-19 travel insurance. In case you get infected while you are overseas, your insurance plan will cover your medical expenses. Besides, it will also offer coverage for emergency evacuation and repatriation.

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