Best travel insurance in Singapore 2024 - Which is the best?

Travel insurance is one important way to safeguard against unexpected situations. It is a way to not only have some peace of mind during a trip but also to get bills covered or compensated from unforeseen events like medical emergencies or flight cancellations. And the good news for Singapore customers is that there are plenty of packages, each with their own perks and add-ons so you can make your travel insurance fit your specific needs.

Let’s take a look at some of the best travel insurance in Singapore based on individual needs, and dive into what makes them similar and different. Read on to see which travel insurance is best in Singapore, for your next holiday. Plus, as a bonus while you’re planning your trip, we’ll also touch on how you can save money abroad with the Wise card.

What is covered by travel insurance?

Travel insurance is crucial - but it’s important to know that policies can vary significantly. The good news is that this allows you to pick the package that suits your needs, plans and budget - but you will need to compare your options carefully to decide.

Depending on the package you select, you may qualify for cover including:

• Accidental death and disablement
• Emergency medical or dental care
• Medical repatriation in the event of a serious accident
• Loss of luggage or documents
• Delays or cancellation of plans
• Missed connections when travelling
• Sports and adventure activity cover

What usually isn’t covered by travel insurance?

Not all eventualities are covered by insurance. Travel insurance will be a good protection against a wide range of issues - but exactly what is included can vary a bit between providers.

Some circumstances which are not usually covered by travel insurance include:

• Self inflicted injuries
• Competitive sports
• Any previously diagnosed and treated conditions
• Chronic conditions
• Illegal activities
• Acts of God, terrorism and war

If you’re planning a trip which might feature riskier activities you may still be able to find a policy which covers you - but this will be a specialist option which is likely to have higher fees. Reading through your policy - and all the exclusions - carefully is the only way to be sure your trip is covered to the extent you’re comfortable with.

What to look out for when choosing your travel insurance

This guide to the best travel insurance in Singapore will help you with comparing a few options to find the best policy for your needs. What’s right for you will depend a bit on your plans and preferences. If you’re looking for the best annual travel insurance in Singapore, for example, you might pick a different service to a customer looking for single trip cover.

To make a decision you’ll need to read through the conditions and cover for any policy you’re interested in, including taking a close look at:

• The activities that are covered - if you’re skiing, scuba diving, parasailing or similar, this is especially important
• The level of cover available - in a very serious situation, would your insurer repatriate you to Singapore for treatment?
• Inclusions - or exclusions - related to changes in plans, lost luggage and other irritations which can result in extra costs
• Ease of making a claim and the company's reputation for service

Comparison of best travel insurance providers in Singapore

Let's move on to some of the options for Singapore’s best travel insurance. We’ve picked out several different providers which may suit you, depending on whether you’re thinking of annual travel insurance, or single trip cover - and whether you need the cheapest travel insurance or the most comprehensive option out there.

Etiqa

Etiqa¹ is backed by Maybank and a major provider of insurance in Singapore and the broader region.

If you’re looking for the cheapest travel insurance to suit your needs, you’ll want to shop around a bit - but starting with a provider like Etiqa which has different packages with higher or lower prices and cover levels is a good start. This allows you to compare what you could get for your money - and as Etiqa allows customers to buy using an app you can get everything sorted while you’re out and about, too.

FWD

FWD² offers a broad suite of insurance options including different packages for travel insurance for Singapore customers.

Medical cover is up to 1 million dollars, and there’s an unlimited amount of cover if you need to be repatriated as a result of a medical emergency. This goes a long way in terms of peace of mind on any trip. Optional cover is offered for cancellation of plans, which could mean you’re reimbursed if something changes and you can no longer travel. Other options include pet care cover and protections for your home while you’re away.

NTUC Income

NTUC Income³ travel insurance offers a good selection of cover options, including common things like delays and medical, aad also adventure activities if needed.

NTUC Income’s travel insurance comes in Classic, Deluxe, and Preferred packages. Cover levels vary which allows you to pick the plan that best suits your trip and your budget. Unusually, NTUC lets you buy some packages once you’ve already left Singapore so this can be a good choice if you’ve left your planning late - or even if you’re already travelling.

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AIG

AIG⁴ is an American company with a Singapore operation, offering travel insurance packages on a single and annual basis.

AIG travel insurance covers losses, medical care and cancellation - although as with all policies, the circumstances may impact what you can claim for. Policies are available for cruises as well as regular travel, and policies offer some covid specific protections, depending on the package selected. If you have an accident or illness overseas, you can claim help there and also continue with follow up care in Singapore for up to 30 days if this becomes necessary.

MSIG

MSIG⁵ insurance includes over 50 benefits and can cover pre-existing conditions in certain situations.

With MSIG, you can get coverage for all trips that start and end in Singapore, either as a single trip or an annual multi-trip package. Annual cover is not usually offered to customers aged over 70. NTUC Income’s travel insurance has an individual option or a family option, as well as packages designed for group travel. If you are looking for more flexibility or if you have a form of pre-existing conditions, you can also look at their Pre-Ex Plan.

Singlife

Singlife⁶ offers several different packages to cater to different requirements - and all options have their own levels of cover and costs associated.

You can pick a plan including the Travel Lite, Plus or Prestige packages which all have 24/7 support on hand and good coverage for medical expenses. Higher tier packages also have extra like safeguards against unauthorised transactions which can offer enhanced peace of mind if you’re travelling somewhere new.

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Use this guide to pick the right travel insurance for your needs - and while you’re thinking about your trip, sign up for Wise to do more with your money while you’re away.

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