What’s the Best Business Travel Insurance Policy in Singapore? [2025]

While a standard travel insurance policy covers overseas medical expenses, trip cancellation, and lost baggage, business travel insurance usually includes all that and more.

In this article, we will review the best corporate travel insurance policies in Singapore for 2025 and explain which policies best suit different business needs. We’ll also share a smart way to conveniently insure your business against foreign exchange (FX) risk: the Wise Business card.

Table of contents

Benefits of business travel insurance What to look out for in a corporate travel insurance policy Overview of the best business travel insurance policies in Singapore Chubb Group Business Travel (Standard Plan) Singlife Corporate Travel Insurance Liberty Insurance Biztraveler Etiqa Corporate Travel Insurance Great Eastern Business Travel Supreme FWD Business Travel Insurance Allianz Travel Insurance Noteworthy business travel insurance exclusions

Benefits of business travel insurance

Business travel insurance offers comprehensive protection against unexpected incidents and expenses during a corporate trip, such as trip cancellation, trip curtailment, and loss, damage, or theft of business equipment. Having sufficient business travel insurance in place shows that you value your most important business asset — your employees — and provides crucial financial protection for your company.

Note that while employers are responsible for shouldering the costs of a business travel insurance policy, your business can pay for the policy outright, or your employees can purchase the appropriate coverage, and you can reimburse them. Just like your business might need dedicated corporate travel insurance, for accounting and compliance purposes, it is helpful to open a dedicated business account (if you haven’t already).

To learn more,

➡️ Check out our guide to opening a business account in Singapore.

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What to look out for in a corporate travel insurance policy

Some key features you might look for when comparing business travel insurance policies include:

• Destination: Make sure you choose a policy covering the destination you or your employee will travel to.
• Trip duration: Select a policy that provides adequate coverage for the entire trip duration, including any potential delays.
• Trip activities: If you or your employees plan to engage in high-risk activities during the business trip, you’ll need to consider this when choosing a policy.
• Traveler’s age: Most company travel insurance policies in Singapore will only cover individuals aged between 16 and 70. Make sure you screen through every policy’s age limit details.

Overview of the best business travel insurance policies in Singapore

For your convenience, here’s the comparison table of the various corporate travel insurance policies in Singapore. Scroll down for more details on each provider’s policy.

Business travel insurance policy	Overseas medical coverage	Trip cancellation	Loss/damage of baggage	Business money and equipment	Other highlights
Chubb Group Business Travel Insurance¹	From 100,000 SGD to 300,000 SGD	10,000 SGD	5,000 SGD; 1,000 SGD sub-limit for any 1 article, pair, or set of article	None	5,000 SGD staff replacement expenses
Singlife Corporate Travel Insurance²	From 300,000 SGD to 1,000,000 SGD	From 5,000 SGD to 10,000 SGD (only for Elite Plan)	From 3,000 SGD to 5,000 SGD (only for Elite Plan)	None	5,000 SGD employee replacement benefit
Liberty Insurance BizTraveler³	From 100,000 SGD to 300,000 SGD	From 5,000 to 10,000 SGD	From 3,000 SGD to 5,000 SGD; 1,000 SGD sub-limit for each item or set or pair of item	2,000 SGD; 1,000 SGD sub-limit for each item or set or pair of items	Employee replacement benefit from 5,000 SGD to 7,000 SGD
Etiqa Corporate Travel Insurance⁴	From 100,000 SGD to 500,000 SGD	10,000 SGD (only for Comprehensive Coverage)	5,000 SGD (only for Comprehensive Coverage)	2,000 SGD (only for Comprehensive Coverage)	5,000 SGD staff replacement benefits (only for Comprehensive Coverage)
Great Eastern Business Travel Supreme⁵	From 100,000 SGD to 300,000 SGD	10,000 SGD	5,000 SGD; 1,000 sub-limit per article, pair, or set	None	Up to 5,000 employee replacement benefit
FWD Business Travel Insurance⁷	500,000 SGD for adult below 70 years old; 100,000 SGD for adult 70 years old or older	10,000 SGD	5,000 SGD	None	Coverage for pre-existing conditions (only for single trips and up to 30 days)
Allianz Travel Insurance⁸	From 200,000 SGD to 1,000,000 SGD	From 1,500 SGD to 10,000 SGD	From 1,000 SGD to 3,000 SGD	None	Trip curtailment coverage from 5,000 SGD to 10,000 SGD (Silver and Platinum only)

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Chubb Group Business Travel (Standard Plan)

The Chubb Business Travel (Standard Plan) provides annual coverage for business trips and offers three different protection options¹. Annual premiums are higher for international coverage than regional coverage and for insured individuals with pre-existing conditions than those without.

Key things to note:

• Overseas medical coverage from 100,000 SGD to 300,000 SGD
• 5,000 SGD loss of personal property and baggage (1,000 SGD sub-limit for any 1 article, pair, or set of article)
• 10,000 SGD trip cancellation
• 5,000 SGD staff replacement expenses
• Cover for business trip up to a maximum of 183 days (inclusive of personal deviation, up to a maximum of 31 days)
• The insured person must be between 16 and 70 years of age, with the premium renewable up to 75 years old
• A minimum headcount of 2 employees and above is required to enrol for this plan

👍This policy is great for companies:

• That only send a few employees on business trips annually
• With travelers with pre-existing medical conditions
• With travelers who would like to take a trip for personal purposes before, during, or immediately after the business trip

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Singlife Corporate Travel Insurance

The Singlife Corporate Travel Insurance is also a company travel insurance with annual coverage². It offers 2 plans (the Classic Plan and the Elite Plan, which offers more comprehensive coverage for travel inconveniences) with 3 different protection options (Plans 1, 2, and 3). International coverage commands a higher annual premium than regional coverage.

Key things to note:

• Overseas medical coverage from 300,000 SGD to 1,000,000 SGD
• Trip cancellation coverage from 5,000 SGD to 10,000 SGD (only for Elite Plan)
• Up to 5,000 SGD coverage for trip cancellation for any reason (only for Elite Plan)
• Baggage loss or damage coverage from 3,000 SGD to 5,000 SGD (only for Elite Plan)
• 5,000 SGD employee replacement benefit
• The insured person must be aged between 21 and 80 years old; benefits payable under certain sections, such as overseas medical expenses, are reduced to 100,000 SGD for those aged 71 years and above
• Cover for a business trip up to a maximum of 190 days
• A minimum headcount of 5 persons is required to enrol for this business travel insurance policy
• Bulk premium discount applies for 15 persons or more

👍This policy is great for companies:

• That need to send large groups of employees on business trips annually
• That constantly deal with last-minute business travel changes

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Liberty Insurance BizTraveler

Liberty Insurance’s BizTraveler provides annual coverage for business trips³. It offers 3 protection options: Plans 1, 2, and 3. This policy divides the world map into Asia Pacific and Worldwide, with higher premiums for the latter.

Key things to note:

• Overseas medical coverage from 100,000 SGD to 300,000 SGD
• Trip cancellation coverage from 5,000 SGD to 10,000 SGD
• Baggage loss or damage coverage from 3,000 SGD to 5,000 SGD (sub-limit of 1,000 SGD for each item or set or pair of item)
• 2,000 SGD coverage for loss of or damage to personal portable business equipment (sub-limit of 1,000 SGD for each item or set or pair of item)
• Waived hospital admission deposit at designated hospitals in China, Hong Kong, and Taiwan
• Employee replacement benefit from 5,000 SGD to 7,000 SGD
• Cover for a business trip up to a maximum of 120 days
• Excludes pre-existing medical conditions
• The insured person must be between 18 and 75 years old
• A minimum headcount of 3 persons is required to enrol for this policy

👍This policy is great for companies:

• That often send employees on business trips to China, Hong Kong, and Taiwan
• That only need to send a handful of employees on overseas business trips

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Etiqa Corporate Travel Insurance

Etiqa’s Corporate Travel Insurance provides annual coverage for business trips⁴. It offers 2 plans (Basic Coverage and Comprehensive Coverage) with 3 protection options: Plans 1, 2, and 3. Like the previous company travel insurance policies, the premium for international coverage on this policy is also higher than regional coverage.

Key things to note:

• Overseas medical coverage from 100,000 SGD to 500,000 SGD
• 10,000 SGD trip cancellation coverage (only for Comprehensive Coverage)
• 5,000 SGD baggage loss or damage coverage (only for Comprehensive Coverage)
• 2,000 SGD coverage for loss of or damage to portable business equipment (only for Comprehensive coverage)
• 5,000 SGD staff replacement benefit (only for Comprehensive coverage)
• The insured person must be at least 16 and up to 70 years old⁹
• A minimum headcount of 2 persons is required to enrol in this policy⁹
• Cover for a business trip up to a maximum of 180 days⁹
• Excludes pre-existing conditions¹⁰

👍This policy is great for companies:

• That only need to send a handful of employees on overseas business trips annually and
• Are looking for an affordable business travel insurance policy

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Great Eastern Business Travel Supreme

Great Eastern Business Travel Supreme offers annual and single-trip business trip coverage⁵. It provides 3 protection plans (Premier, Deluxe, and Superior) and divides the world map into Regional and International, with International Coverage premiums costing more than Regional coverage.

Key things to note:

• Overseas medical coverage from 100,000 SGD to 500,000 SGD
• Up to 10,000 SGD trip cancellation coverage
• Up to 5,000 SGD baggage loss or damage coverage (1,000 SGD sub-limit per article, pair, or set)
• Up to 5,000 SGD employee replacement benefit
• Excludes pre-existing medical conditions
• The insured employee must be aged between 16 and 80 years old
• Covers business trips up to 182 days
• No minimum headcount to enrol in this policy

👍This policy is great for companies:

• That may only need to send employees on one-off business trips

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FWD Business Travel Insurance

The FWD Business Travel Insurance offers annual and single-trip business trip coverage⁷. It divides the world map into 4 regions: ASEAN, Asia, Worldwide excluding the USA, and Worldwide.

Key things to note:

• 500,000 SGD overseas medical coverage for adult below 70 years old; 100,000 SGD overseas medical coverage for adult 70 years old or older
• 10,000 SGD trip cancellation and loss of deposit coverage
• 5,000 SGD baggage loss or damage coverage
• Covers pre-existing medical conditions such as asthma, diabetes, high blood pressure, and more (only for single trip plans and up to 30 days only)
• Covers business trips up to 180 days for single trip plans and up to 90 days for annual plans¹¹

👍This company travel insurance policy is great for companies:

• With travelers with pre-existing conditions (only applicable for single trip plans)
• That may only need to send employees on one-off business trips

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Allianz Travel Insurance

Allianz offers both annual and single-trip coverage for business trips⁸. Unlike other business travel insurance policies in this article, Allianz does not differentiate its protection plans according to geographical regions. Instead, its single-trip and annual multi-trip plans simply offer 3 protection plans: Basic, Silver, and Platinum.

Key things to note about this policy:

• Overseas medical coverage from 200,000 SGD to 1,000,000 SGD for ages 0-69 years; from 50,000 SGD¹² to 100,000 SGD¹³ for ages 70 years and above
• Trip cancellation coverage from 1,500 SGD to 10,000 SGD
• Baggage loss or damage coverage from 1,000 SGD to 3,000 SGD
• Excludes pre-existing medical conditions¹²

👍This business travel insurance policy is great for companies:

• That need to send employees to different geographical regions for business trips (e.g., the ASEAN region in 1 trip, and the United States in another) annually
• That may only need to send employees on one-off business trips

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Noteworthy business travel insurance exclusions

Common company travel insurance policy exclusions include:

• The use or abuse of alcohol and drugs
• Illegal activities
• Traveling against the Ministry of Foreign Affairs’ (MFA) advice
• High-risk activities (e.g., riding a motorcycle without a helmet or participating in any high-altitude activity)
• Undeclared medical conditions
• Loss, theft of, or damage to unattended items

Conclusion

There are several corporate travel insurance policies in Singapore. Just as you need policies for personal travel, you should have one for your business needs, as there are some special risks that personal insurance will not cover.

Check each policy’s exclusions and limitations before signing up to secure the appropriate coverage for you and your employees on overseas business trips.

⭐ Just like you don’t want to get caught in a policy that doesn’t cover what you need, you would not want to get caught off guard by unseen forex changes eating into your business profit margins. If you or your employees need to travel for business frequently, it might be easier to just add on Wise Business Card to your company’s financial toolkit to complement your corporate credit card and enjoy low, transparent currency conversion at the mid-market exchange rate, no foreign transaction fees, and no hidden costs.

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Sources:

1. Chubb Group Business Travel (Standard Plan)
2. Singlife Corporate Travel Insurance
3. Liberty Insurance BizTraveler
4. Etiqa Corporate Travel Insurance
5. Great Eastern Business Travel Supreme
6. DBS Group Business Travel Insurance
7. FWD Business Travel Insurance
8. Allianz Travel Insurance
9. Etiqa Corporate Travel Insurance FAQ
10. Etiqa Corporate Travel Policy Wording
11. FWD Travel Policy Wording
12. Allianz Basic Plan Single Trip Coverage Summary
13. Allianz Platinum Plan Single Trip Coverage Summary

Sources checked on: 13th January 2025