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Do you love travelling or go on frequent business trips? With Singapore's position as an Asian business hub as well as with the proliferation of budget airlines, travelling has become increasingly inexpensive for many.


As with buying any kind of insurance, the travel insurance provides some monetary relief in the event of any unfortunate situation during travel. These unforeseen circumstances include flight cancellation, lost baggage as well as injury during accidents. For most of us, travelling should be a fuss-free and relaxing event, so getting a travel insurance will definitely help in bringing a peace of mind.


Four key factors


  1. Region of travel- For the purpose of premium classification, travel insurance usually divide the world map into different geographical location.  


  1. Single trip/annual coverage- How frequently do you travel? What is your budget? These will help you choose a suitable policy for you. You should consider buying Annual Travel Insurance if you travel frequently or at least 4 times a year. Buying an annual insurance instead of many per-trip insurance can help you enjoy significant savings and save you the trouble of looking for a travel insurance each time before you travel.  


  1. Individual/family coverage – Most insurance companies offer a cheaper premium if you buy coverage for the entire family


  1. Special requirements- Are you trying out extreme sports such as extreme mountain-biking and bungee jumping? If you are buying travel insurance with these special requirements, you will want to read the fine prints properly to ensure they are covered or take on extra coverage on these special items.




Insurance coverage typically includes three areas:

  1. Flight cancellations/delays

  2. Delayed/Lost luggage

  3. Medical coverage


The key thing to note for your insurance will be what are the exceptional circumstances that are excluded as most people fail to understand these conditions.


  1. Flight cancellations/delays – Most common coverage include delays due to riots and strikes, adverse weather conditions and mechanical breakdown of the vehicle. Delays due to operational issues and individual mistake (such as being late due to traffic jam) will not be covered.


Benefits for this take into account the number of hours delayed and usually has a minimum delay limit. Do note as well that some policies may not cover delays and flight cancellations due to natural disasters.


  1. Delayed/Lost luggage – As per 1), benefits for these sections are usually a reimbursement on lost/delayed luggage, although these could be subjected to a payout based on how late your luggage was. For instance, you can be paid $600 if your luggage was late for 12 hours on a $200 per 4-hour basis.


  1. Medical Coverage – just like life insurance, pre-existing conditions are generally excluded from coverage. However, a good travel insurance will typically include medical expenses due to accidents during your trip and even reimburse you on follow-up treatment in your home country.