Travel Insurance Coverage: How Much Are You Getting Per S$1 Premium Paid?

You probably already know how much coverage insurers are providing and the premiums you’re paying. But do you know just how much coverage you’re getting for every S$1 of premium?

Best Travel Insurance: TIQ Travel Insurance | MSIG TravelEasy | Allianz Travel Insurance | Ergo TravelProtect | Singlife Travel Insurance | Sompo Travel Insurance | Tokio Marine Travel Insurance | Allied World Travel Insurance | Starr Travel Insurance | FWD Travel Insurance | AIG Travel Guard

If you’re well-versed with travel insurance plans, you’ll know that FWD is known for offering low premiums, while Singlife is known for its high and holistic coverage.

But can you really judge a travel insurance plan based on just the premiums and coverage that they offer?

We’ve done an in-depth analysis of how much coverage you’re getting per S$1 of premium paid, based on the different aspects of coverage — baggage loss, flight delay, overseas medical expenses and accidental death and total permanent disability. We’ve also broken them down into single and annual plans, as well as the location of the trip.

Read on to find out which insurer offers the most comprehensive and best-for-value plan!

Table of contents:

• Best travel insurance
• Baggage loss
• Flight delay
• Overseas medical expenses
• Accidental death and total permanent disability (TPD)

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Best travel insurance

Here’s an overview of the best travel insurance plans in Singapore, including the premiums and key coverage offered.

Product	Premiums	Coverage	Apply
MSIG Premier Plan Apply Now	From S$50	Up to S$2,600,000 overseas medical expenses coverage for Adult & Children/Family cover   Up to S$$1,000,000 overseas medical expenses coverage for individuals   Up to S$1,200,000 accidental death and disablement coverage for Adult & Children/Family cover   Up to S$500,000 accidental death and disablement coverage for individuals   Overseas hospitalisation daily benefit of up to S$300 per day, capped at max. S$60,000   Up to S$200,000 for Medical Cover for COVID-19   Up to S$3,000 for Travel Inconvenience due to COVID-19	Apply Now
AIG Travel Guard® Direct - Supreme Apply Now	From S$38	Up to S$2,500,000 coverage in overseas medical expenses Unlimited emergency medical evacuation (except for Standard and Basic plan) Up to S$300,000 accidental death and disablement coverage COVID-19 medical expenses coverage of up to S$250,000 Up to S$7,500 for trip cancellations or early returns relating to COVID-19	Apply Now
Singlife Travel Prestige Apply Now	From S$37.12	Up to S$8,000 loss of baggage coverage Up to S$500,000 for accidental death and disability Unlimited overseas medical expenses (for Travel Prestige plan) Up to S$2,000,000 personal liability Up to S$200,000 coverage for overseas COVID-19 medical expenses Up to S$100 per day for COVID-19 overseas quarantine, up to S$2,000 Payout of up to S$150 if your trip is affected by excessive rainfall	Apply Now
Tiq Travel Luxury Apply Now	From S$31 (without COVID-19 cover)	Up to S$1,000,000 medical coverage overseas Up to S$500,000 accidental death and disablement coverage Up to S$10,000 coverage for medical expenses incurred in Singapore Up to S$10,000 trip cancellation benefit (Covers Cruise To Nowhere) Up to S$300,000 medical coverage for COVID-19 (with COVID-19 rider) Up to S$5,000 coverage for trip cancellation and loss of deposit due to COVID-19 (with COVID-19 rider)	Apply Now
Starr TraveLead Gold Plan - Worldwide (Annual) Apply Now	From S$32.40	Medical expenses up to S$1,000,000 Accidental death and disablement benefit of up to S$500,000 Personal baggage coverage of up to S$7,500 Overseas COVID-19 related medical expenses of up to S$65,000 Trip cancellation or disruption cover up to S$15,000 COVID-19 trip-related cancellation/curtailment of up to S$500	Apply Now
FWD First - Worldwide (Annual) Apply Now	From S$25.20 (without COVID-19 cover)	Up to S$1,000,000 overseas medical expenses coverage Up to S$7,500 theft or damage to personal belongings Up to S$900 for baggage delay COVID-19 coverage available as rider add-on with up to S$200,000 for COVID-19 medical expenses	Apply Now
Allianz Travel Comprehensive Platinum Plan - Worldwide Apply Now	From S$50	Up to S$7,000 baggage coverage Up to S$1 mil medical expenses coverage (for Platinum plan, ages 69 and below) Up to S$1 mil COVID-19 coverage for emergency medical and dental expenses (for Platinum plan, ages 69 and below) Up to S$15,000 for trip cancellations or disruptions relating to COVID-19	Apply Now

Baggage loss (for every S$1 premium)

ASEAN 5-day trip (for every S$1 premium)

Worldwide 10-day trip (for every S$1 premium)

ASEAN Annual trip (for every S$1 premium)

Worldwide Annual trip excluding USA (for every S$1 premium)

*Based on the highest tier plan

**Rounded off to the nearest dollar

Best for baggage loss: FWD

When it comes to baggage loss across single and annual plans for countries that fall in ASEAN and Worldwide, it seems like FWD ranks as the top for best-for-value coverage. 

For a premium of just S$40.80 for a 5-day trip to ASEAN, FWD offers up to S$7,500 coverage for any loss of baggage. This translates to S$184 in coverage for just S$1 premium paid, compared to the next best offered by Starr, at S$136 coverage per S$1 premium paid.

Flight delay (for every S$1 premium)

ASEAN 5-day trip (for every S$1 premium)

Worldwide 10-day trip (for every S$1 premium)

ASEAN Annual plan (for every S$1 premium)

Worldwide Annual plan excluding USA (for every S$1 premium)

*Based on the highest tier plan

**Rounded off to the nearest dollar

Best for flight delay: AIG Travel Guard

For flight delay, AIG Travel Guard emerges as the top across single and annual plans for countries that fall in ASEAN and Worldwide.

For a premium of just S$95 for a 5-day trip to ASEAN, FWD offers up to S$3,000 coverage for any loss of baggage. This translates to S$32 in coverage for just S$1 premium paid, compared to the next best offered by Starr and Singlife, at S$27 coverage per S$1 premium paid.

If you purchase an AIG Travel Guard insurance plan, you will be able to claim S$100 for every 6 hours of flight delay, up to S$3,000 for the highest tier plan.

Overseas medical expenses (for every S$1 premium)

ASEAN 5-day trip (for every S$1 premium)

Worldwide 10-day trip (for every S$1 premium)

ASEAN Annual plan (for every S$1 premium)

Worldwide Annual plan excluding USA (for every S$1 premium)

*Based on the highest tier plan

**Rounded off to the nearest dollar

Best for overseas medical expenses: Singlife

Singlife takes the cake for offering the best overseas medical expenses coverage for all four scenarios, as they offer up to unlimited coverage if you purchase their highest tier plan.

For S$1 of premium, you’re still basically getting unlimited coverage, making this the plan that nothing else can beat. Coming in second and third place for a 5-day trip to an ASEAN country are AIG Travel Guard and FWD at S$26,316 and S$24,510, respectively, per S$1 premium paid.

For Singlife, they offer S$2 million overseas medical expenses for the first two tiers and unlimited coverage for the highest tier. They also offer medical expenses coverage in Singapore after you arrive back home, up to S$80,000 for the first 31 days after arriving in Singapore.

Accidental death and total permanent disability (TPD)

ASEAN 5-day trip (for every S$1 premium)

Worldwide 10-day trip (for every S$1 premium)

ASEAN Annual trip (for every S$1 premium)

Worldwide Annual trip excluding USA (for every S$1 premium)

*Based on the highest tier plan

**Rounded off to the nearest dollar

Best for accidental death and total permanent death (TPD): Tiq and FWD

In terms of accidental death and TPD, Tiq and FWD offers one of the highest coverage per S$1 across all four categories. 

FWD emerges top for single trip plans to countries in ASEAN and Worldwide, offering S$9,804 and S$3,922, respectively per S$1 paid.

As for Tiq, it fares better for annual trips to ASEAN and Worldwide, offering S$1,548 and S$1,016, respectively, per S$1 premium paid.

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