Top tips for insurance: what you need to know about travel insurance

Travelling is a fantastic experience, and one that many Singaporeans enjoy annually. Summer is just around the corner which means many of you might be planning to escape the heat mid-year and check out some far flung place across the globe. When you’re planning an overseas trip, it’s important to consider how you’ll keep yourself protected in the event that something unexpected happens. Travel insurance will instantly come to mind, but is it the most appropriate form of coverage for your needs?

What is travel insurance?

Travel insurance policies are short term plans designed to cover people travelling away from their home country. Whilst every plan is different, most travel plans will offer a mix of travel and health-related benefits. You can generally expect to see the following in most travel insurance policies on the market:

• Lost baggage or baggage delay
• Delayed or cancelled flights
• Travel document protection
• Medical emergencies
• Sickness or injuries overseas
• Emergency medical evacuation
• Emergency medical repatriation
• Repatriation of remains

Some of the key things to remember with travel insurance is that they will usually have much lower limits and thinner coverage than more comprehensive individual or international health insurance policies. In terms of health benefits, these plans are designed more to get you well enough to travel back home, not to get you back to 100% health.

What are some things to watch out for with travel insurance?

Most people tend to shop for short term travel plans by lowest price available, but here’s what you should watch out for with cheaper options.

Be clear on the policy details

This means reading the fine print to ensure you’re not surprised by any exclusions or limits should it come time to make a claim. Reading the details of the plan before you commit to it can help you make the right decision for your travel needs. Common exclusions may apply to certain high-risk locations or activities, such as scuba diving or climbing Mount Kilimanjaro, and it may be important for you to know this before you hand your money over.

Time limits

As mentioned, travel insurance plans are meant to be short term. Most insurers will cap coverage at one month, while some will allow you to be covered for anywhere between three and twelve months. If you’re going to be away on a longer holiday, you’ll want to make sure your travel plan doesn’t expire before you holiday does.

Pre-existing medical conditions

It’s also worth noting that pre-existing conditions can also make your travel insurance more expensive. Experience has shown that travellers with such conditions are more likely to make claims whilst abroad, and make claims of a higher value. It’s important to be honest with an insurance company too, as lying about pre-existing conditions can see any travel claims denied.

Other exclusions

Being drunk when an incident occurs can often be a quick way to see your claim rejected by travel insurance companies. Being caught doing something illegal which led to your injury or death can also be grounds for a company to deny coverage. You should already know what these exclusions are if you’ve followed the first tip of reading the policy fine print, but it’s always worth reiterating for those who think it’s only worth a quick skim.

What are my other options for travel related coverage?

Medically speaking, an international private medical insurance plan can be a more comprehensive option for securing your health – but it comes with a very steep price. International health plans offer you extended medical benefits that can even be far beyond what a local Singapore health insurance plan might offer, but that level of coverage might not be for everyone.

If you’re a frequent overseas traveller, and you have extensive medical needs that may need to be met, it might be worth talking to an insurance broker about securing international health insurance. Does this sound like you? Check out our Partners page or check out our partner, Pacific Prime Singapore, for more information.

I want to find the best travel insurance available in Singapore

If an international health insurance plan doesn’t sound like it meets your requirements, Kwiksure Singapore can offer you a range of high quality and robust travel insurance options that fits your needs. Our consultants have a lot of experience in delivering motor, home, and travel insurance plans that protect you and the things you value the most.

For a free travel insurance quote, contact the team at Kwiksure Singapore today!