With so much travel to catch up on in our post-pandemic world, it’s only normal to be more cautious about choosing the right travel insurance for your trips. This guide shows you my picks for the best travel insurance for single trips, annual plans, and extended travel (because I’ve done them all!)
Multi trip/annual travel insurance:
The Wise Traveller
Long term travel insurance:
SafetyWing
Disclaimer: The information in this article was gathered in December 2022. We cannot guarantee the accuracy of the benefits listed for comparison and are not liable for any changes. Please refer to latest policy wording from each insurance provider before purchase.
Before we dive in: People tend to look at the sum insured for key risks like accidents, medical expenses, and Covid. Then they get tired of combing through comparison sites and simply go for the cheapest premiums.
However, it’s important to look at the policy wording (aka the fine print) to understand what you can really claim, especially for multi-trip or long-trip insurance. There’s no point in getting a high sum insured if the policy contains tons of limits and exclusions.
Which travel insurance should you get?
The difference between single-trip insurance vs. annual (multi-trip) travel insurance is primarily a matter of cost. If you take more than a couple of week-long trips in one year, annual travel insurance may work out to be a better deal.
For multi-trip travel insurance vs long-term travel insurance, the difference is in the maximum allowed trip duration. Typical annual travel insurance is limited to a 90-day trip length so if you plan to be away for longer than that, an annual multi-trip plan won’t work.
While long-travel insurance costs more, it’s also more flexible: most providers allow you to extend your cover (up to 1-2 years) while you’re already travelling, so you never have to buy more than you need.
Do you need special cover?
No matter how free-spirited and spontaneous you are, you’ll need to consider the type of travel insurance coverage you need:
- Pre-existing conditions: will the insurance provider cover claims arising from diabetes, asthma, or other pre-existing conditions?
- Extreme sports: will you be skydiving, bungee jumping, or snow sports?
- Special equipment: do you need cover for snowboards, golf clubs, or photography gear?
- Supplier default/insolvency: what happens if the tour company you’ve paid goes out of business?
Jargon-crammed policy wording is a pain to read, but it’ll help you to understand what’s excluded and make better comparisons between what looks similar on the surface. There could be exclusions in situations you may have never encountered, let alone considered! Example: some policies cover flight cancellations in the event of technical issues, but not when a natural disaster occurs. (e.g. a volcanic eruption).
If you’re unsure what a clause means, call a sales rep and ask. If the policy is underwritten by a company you’ve never used before, call the 24/7 emergency hotline after office hours and check that someone answers. These will speak volumes about the pre- and after-sales service of a travel insurance provider.
Best single-trip travel insurance
Here’s a comparison of the most popular single trip travel insurance in Singapore, using a 7-day trip in Europe for our test scenario and choosing the cheapest plan from each provider.
| Tiq Travel Insurance Most versatile | INCOME Best for seniors over 70 | Starr | FWD | |
|---|---|---|---|---|
| Price (7-Day Trip) | S$39 | S$82.20 | S$42 | S$49.20 |
| COVID Coverage | +S$19.80 | ✔️ | ✔️ | +S$28.17 |
| Overseas Medical Expenses | $200,000 | $250,000 | $200,000 | $200,000 |
| Personal Accident (>70 yo) | $150,000 $30,000 | $150,000 $100,000 | $150,000 $40,000 | $200,000 $40,000 |
| Baggage Delay | $100/6h; max $200 | $200/6h; max $1,000 | $100/6h; max $400 | $150/6h; max $150 |
| Travel Delay | $50/3h; max $300 | $100/6h; max $1,000 | $100/6h; max $500 | $100/6h; max $300 |
| Trip Cancellation | $5,000 | $5,000 | $5,000 | $7,500 |
| Trip Disruption | $3,000 | $1,000 | – | $1,000 |
| Pre-existing Conditions? | Available | Available | – | – |
| Rental car excess | Add-on | $1,500 | $500 | Add-on |
| Add-ons | Pet care, sports equipment | – | Sports fees/equipment | Pet care, sports equipment |
Tiq Travel Insurance is my current go-to as it offers decent coverage for a low price and includes Covid-19 cover. For more coverage for yourself or your child, you can upgrade from the Entry plan to the Savvy or Luxury plans.
INCOME Travel Insurance is pricey but offers the most coverage, especially for seniors over 70 years old. You’d need a top-tier plan from other companies to get a similar amount of cover. Unfortunately it doesn’t offer optional insurance for sporting equipment.
Best annual, multi-trip travel insurance
When it comes to getting year-long travel insurance for multiple trips, it makes sense to get cover for adventure activities and extreme sports – you know, just in case you decide to go skydiving or snowboarding on a whim.
Best long-term travel insurance
Tips for a successful claim on your travel insurance
We all buy travel insurance hoping we won’t actually need it, but when the unexpected happens, here’s how you can make full use of it to travel with peace of mind.
1. Buy as soon as possible
When is the best time to buy travel insurance? Right after you’ve booked your flights. This ensures you’re covered for unforeseen events that may force you to postpone or cancel your trip.
Imagine you book a trip somewhere in a months’ time. Two weeks before your trip, riots start in your destination. If you’ve already bought travel insurance, phew! You may be able to claim on cancellation fees and lost deposits. If you haven’t, too late – the riots are already an ongoing event when you purchase travel insurance, so you won’t be covered.
2. Review the claims procedure
Don’t wait till you’re flustered and frustrated (or worse, sick or injured) to try and figure out what you need to do. For starters, always keep receipts: You’ll need a copy of a police report if valuables have been stolen; airlines’ confirmation of any delays and cancellations; signed advice from a medical practitioner to curtail a trip due to sickness; and so on. Not having valid proof is the number one reason travel insurance claims are rejected.
Most travel insurance providers will require you to submit claim forms along with supporting documentation/proof within 30 days. You don’t have to submit your claims in a hurry, but don’t wait too long either.
3. Pack your policy documents
Always keep physical + digital copies of your policy documents and claim forms on you. Make sure, as with your travel itinerary, passport, and booking receipts, you share a copy of your travel insurance documents with your trusted emergency contact and/or next-of-kin. Dropbox and similar shared folders are great for this.
My personal experience with claiming travel insurance
Getting sick on the road is one of the most unforgettable travel experiences you can have. Especially when it requires you to change your plans. In my case, after a month of volunteering in Kenya and during a 3-day safari in the Maasai Mara, I developed a severe infection, a cyst-turned-abscess, that got worse despite paracetamol and antibiotics.
I was traveling solo. I was supposed to go hiking in beautiful Ladakh, India, in two days.
I was in so much pain I could barely hobble to the nearest clinic in Nairobi while holding back tears.
The doctor said I’d have to undergo a surgical procedure which required a week of recovery time, and most certainly could not fly the next day. In a panic, I called the travel insurance 24-hour emergency assistance hotline (as a member with The Wise Traveller). I was told to either go with the doctor’s advice, or bear with it and fly straight home for treatment. Either way, I’d be able to make a claim as long as the doctor signed the medical certificate portion in my insurance claim form.
Wait…what insurance claim form? I hadn’t downloaded, let alone printed it. I had to ask the emergency assistance service to email me the form, walk across town to print it, and walk back to the clinic to get it signed by the doctor while a friend helped me change my flights to get home ASAP.
Thanks to the emergency assistance service, I was able to submit valid travel insurance claims for my medical fees and cancelled flights – but not without a lot of extra work, pain, and fear.
The lesson? Be prepared, especially for longer trips. Have a printed copy of your insurance claim form and more importantly, save your travel insurance provider’s emergency assistance number in your phone contact list to call anytime. That’s what a 24-hour hotline is for!
Ready to travel with peace of mind? Get the best travel insurance for your trip today.
Multi trip/annual travel insurance:
The Wise Traveller
Long term travel insurance:
SafetyWing
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