Now that travel restrictions are a thing of the past, there is no stopping the revenge travel phenomena that follows a long period of lockdowns. If you too are planning a global-trotting venture, buying a comprehensive travel insurance policy before leaving Singapore may be a wise move. Why? Read on to find out why you should consider buying travel insurance and how you can go about selecting the right one for you.
What Travel Insurance Covers
The best travel insurance in Singapore covers an extensive range of medical remedies and travel inconveniences that may arise during an overseas trip. Depending on the type of policy you sign up for, it can compensate you for something as minor as baggage delay to more life-threatening situations that require medical evacuation.
The list of benefits that a typical travel insurance policy covers include:
- Baggage delay or loss
- Travel delays or cancellation
- Medical expenses, emergency evacuation and repatriation in case of serious illness or death
- Fraud, theft and kidnapping
- Travel agent insolvency
- Accidental death or permanent disablement
Why Travel Insurance Is Essential
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Buying travel insurance in Singapore is a way to protect your finances, health, safety and security. It is one of the most important investments that a traveller can make to help navigate unexpected risks in a foreign environment. Some may argue that unexpected events can happen anywhere but what they fail to see is that it is harder to find the right remedies when they are in an unfamiliar location. Often this can cause even more inconveniences and larger costs.
While travel insurance is not a talisman that promises no harm will befall you, at the very least it covers medical emergencies that can sometimes cost hundreds of thousands of dollars. For example, evacuating from China to Singapore can cost over S$100,000. Fixing a broken ankle in Hong Kong can also amount to S$8,000. If you don’t have travel insurance, the expenses will have to be paid out of your pocket.
The benefit of travel insurance goes beyond medical coverage to include everything from pre-trip disruptions and flight cancellations to personal accidents and loss of belongings. If you are a seasoned traveller, surely you would acknowledge that these are common disturbances that require time, effort and money to mitigate. Thankfully, travel insurance is designed to cover these travel risks and minimise your financial loss.
5 Tips for Buying the Right Travel Insurance for You
It is hard to pinpoint which insurer offers the best travel insurance in Singapore because every traveller’s needs are different. However, there are a few tips that may help you find the right travel insurance policy for you.