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Single Trip vs Annual: Which Travel Insurance Should You Get?

Is a single-trip or an annual travel insurance more suited for your needs? We dive into the costs and pros and cons to see which is a better match to your travelling habits.

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Single Trip vs Annual_ Which Travel Insurance Should You Get_ (1)

Having Trouble Choosing Between Single Trip Vs Annual Travel Insurance?

 

Planning your next adventure is exciting, but amidst the anticipation of exploring new destinations, one crucial decision looms: which travel insurance should you choose? Should you pick an annual travel insurance or a single trip insurance plan? If you are on a single trip plan, should you switch to an annual travel insurance plan?  It's a dilemma faced by every traveler, and the right choice can make all the difference in ensuring a worry-free journey. In this guide, we'll break down the pros and cons of each option and also list down some of the best annual travel insurance plans and single trip insurance plans, helping you make an informed decision that suits your unique travel needs.


Travel Insurance Promotions

SingSaver's Best Price Travel Campaign: All successful applicants of participating Travel Insurance products will receive 1x (single trip) or 3x (annual trip) draw chance to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed (up to a maximum of $2,000) and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. Valid till 31 December 2023. T&Cs apply.

Travel Insurance Premium for Individual Cover Covid-19 Coverage Promotion

Starr TraveLead Travel Insurance


 

from S$11.05 (for 1 week in ASEAN)
Yes

Get up to $50 Grab Vouchers (min. Premium $30) and get 40% off when you use promo code SS40. Valid till 31 Dec 2023. T&Cs apply.  Plus, till 31 December, every applicant will also score an Apple AirTag — perfect for keeping tabs on your luggage on your next trip — or a ReboundTag. T&Cs apply.

 

 

Enjoy 1x chance (Single Trip) or 3x chances (Annual Trip) to enter our weekly lucky draw. 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. Promotion ends on 31 December 2023. T&Cs apply.

 

Additionally, enjoy 1x chance to win your share your share of up to S$200,000 in prizes in our epic 101! Milestone Giveaway, including S$5,000 bonus cash each week on top of ongoing promotions!

MSIG Travel Easy

 

from S$34.10 (for 1 week in ASEAN)
Yes

Enjoy 40% off when you apply for Single Trips and 20% off for Annual Plan plus get up to $38 Grab Vouchers when you purchase now!! Valid till 17 December 2023. T&Cs apply. Plus, till 31 December, every applicant will also score an Apple AirTag — perfect for keeping tabs on your luggage on your next trip — or a ReboundTag. T&Cs apply.

 

Enjoy up to 3x chances to enter our Weekly Lucky Draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. T&Cs apply.

 

Additionally, enjoy 1x chance to win your share your share of up to S$200,000 in prizes in our epic 101! Milestone Giveaway, including S$5,000 bonus cash each week on top of ongoing promotions!

Allianz Travel Insurance
AZ logo

 

from S$34.10 (for 1 week in Asean)
Yes

Use promo code SSV50 to get 50% discount, up to $35 Grab Vouchers, and 1x Airalo eSim with up to 3GB data (minimum premium of $60) when you apply NOW! Valid till 8 December 2023. T&Cs apply.

 

Additionally, enjoy 1x chance (Single Trip) or 3x chances (Annual Trip) to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. Promotion ends on 31 December 2023. T&Cs apply.

FWD Travel Insurance

 

from S$22.50 (for 1 week in Asean)
Yes

Use the promo code 12TWELVE to get a 35% discount on Single Trip and 30% discount on Annual Trip plans! Valid till 12 Dec 2023.  T&Cs apply. Also receive:

1x Airalo eSIM with up to 3GB data before your fly (minimum premium $60). Valid till 31 December 2023.

1x Apple AirTag (worth $45) for the first 3,800 applicants. Valid till 5 January 2024.

Additionally, be included in the following draws below:

Best Price TI weekly draw: Enjoy 3x chances to enter our Weekly Lucky Draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480.
101! Milestone Giveaway: Enjoy 1x chance to win your share your share of up to S$200,000 in prizes in our epic 101! Milestone Giveaway, including S$5,000 bonus cash each week on top of ongoing promotions!

Etiqa (TIQ) Travel Insurance
Tiq_Etiqa_LogoLockUp-02


from S$39 (for 1 week in Asean)
Yes

Single Trip: Use the promo code TIQSINGSAVER to get 48% off. Valid till 18 Dec 2023. T&Cs apply.

 

Annual Trip: Use promo code TIQSINGSAVER to get 60% off COVID-19 add-on. Valid till 31 Dec 2023. T&Cs apply.

 

Enjoy 1x chance (Single Trip) or 3x chances (Annual Trip) to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. Promotion ends on 31 December 2023.  T&Cs apply.

 

Additionally, stand to win S$3,000 in TIQ Travel Insurance Monthly Lucky Draw Campaign 2023 (Fulfillment by TIQ). Valid till 31 Dec 2023.

Singlife Travel Insurance

SINGLIFE_LOGO_200x50-2 


 

 from S$46.20 (for 1 week in ASEAN)
 Yes

Score an Airalo eSIM with up to 3GB data and receive it before you fly when you apply now! Valid till 31 December 2023. T&Cs apply.

 

Additionally, enjoy 1x chance (Single Trip) or 3x chances (Annual Trip) to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. Promotion ends on 31 December 2023. T&Cs apply.

 


Single Trip:
Enjoy a 28% discount when you use the promo code FLY28. Additionally, get a free 6 months heatstroke insurance. Valid till 14 Dec 2023. T&Cs apply.

 

Annual Trip: Get a 25% discount when you use the promo code ANNUAL25. Valid till 31 Dec 2023. T&Cs apply.

Allied World  Travel Insurance

Allied-World-Insurance-2

 

 

 from S$45 (for one week in Asean)
Yes

Enjoy a 45% discount for Single Trip and 15% discount for Annual Trip when you apply now! Valid till 31 Dec 2023. T&Cs apply.

 

Enjoy 1x chance (Single Trip) or 3x chances (Annual Trip) to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. Promotion ends on 31 December 2023. T&Cs apply

AIG Travel Guard® Direct 

aig-logo

 

from S$30 (for 1 week in Asean)
Yes

Single Trip:  Enjoy 20% off with promo code SS20OFF. Valid till 12 Dec 2023. Additionally get $20 PayNow! (minimum premium of $80). Plus, every 12th customer gets an additional $45 Paynow. Valid till 31 Dec.

 

Annual Trip: Apply promo code SSTGD to receive $200 PayNow! Plus, every 12th customer gets an additional $45 Paynow. Valid till 31 Dec 2023.  

 

Additionally, enjoy 1x chance (Single Trip) or 3x chances (Annual Trip) to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. Promotion ends on 31 December 2023. T&Cs apply.

Great Eastern Travel Insurance

Great-Eastern-1

 

 from S$52 (for one week in Asean)
Yes

Single Trip: Get an 30% discount when you use the promo code TSP30S. Valid till 31 Dec 2023. T&Cs apply.

 

Annual Trip: Get an 10% discount when you use the promo code TSP10A. Valid till 31 Dec 2023. T&Cs apply.

Discount is only valid for Elite and Classic plans.

 

Enjoy 1x chance (Single Trip) or 3x chances (Annual Trip) to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. T&Cs apply. Promotion ends on 31 December 2023. T&Cs apply.

Seedly Travel Insurance

seedly TI logo

 

from S$49.80 (for 1 week in Asean)
No

Receive 25% off and 1x Airalo eSIM worth up to 3GB data when you apply NOW! Valid till 31 December 2023.  T&Cs apply.

Win the equivalent of a return flight for 2 to Bali (via S$600 Klook voucher). T&Cs apply.

Enjoy 1x chance to enter our weekly lucky draw, where 1 lucky winner will stand to have their flight ticket reimbursed and 12 lucky winners will receive a Samsonite Volant Spinner 68/25 EXP worth S$480. T&Cs apply. Promotion ends on 31 December 2023. T&Cs apply.



There are two major options you can choose from – single trip travel insurance and annual travel insurance. Which one should you get? Well, it all boils down on the length and frequency of your trips. 


First, let’s break down what each insurance plan covers. 

What is Single Trip Travel Insurance?

 

Single trip travel insurance plans cover trips that begin and end in Singapore, for up to 180 or 182 days overseas (depending on the insurer). This type of insurance is usually bought per trip. 

When applying for a single trip policy, you need to confirm the destination, and both the start and end date of your trip.

 

What is Annual Travel Insurance?

 

Annual travel insurance, also known as multi-trip travel insurance, provides coverage for up to one calendar year. This type of insurance covers all your trips within that year, and all you need to do is confirm the destinations of your travels (Europe, worldwide excluding USA, worldwide including USA, ASEAN, Asia). 

Do note that annual travel insurance may cover multiple trips over a year with trip duration limits. Most annual travel insurance plans cover no more than 90 days per trip.

 

Single Trip Travel Insurance vs Annual Travel Insurance

 

An important consideration for any traveller is the cost of your travel insurance. It comes as no surprise that you would want the best bang for your buck. 

Thus, we’ve collated the best travel insurance plans for your comparison. Compare cost, coverage, and special promotions to make an informed decision. 

Commonly, single trip travel insurance is more affordable compared to annual travel insurance. However, if you’ll be travelling often or going on multiple trips a year, annual travel insurance would be more cost-effective. 

Let's say you’ll be travelling to Malaysia at least eight times this year, with a trip duration of five days each time. We'll compare the cost of eight single trip insurance plans with one annual plan.

For this comparison, let's take MSIG as an example.

Single trip vs annual travel insurance cost comparison

Type of travel insurance Single trip (before discount) Annual travel (before discount)
Cost  S$50 S$289
Coverage S$5,000 for trip cancellation

S$250,000 of overseas medical coverage

S$3,000 for bags and belongings

S$600 for baggage delay (S$150/6h)
S$5,000 for trip cancellation

S$250,000 of overseas medical coverage

S$3,000 for bags and belongings

S$600 for baggage delay (S$150/6h)
Total S$50 x 8 = S$400
(assuming the plan costs the same throughout the year)
S$289

 

Using the example above, the overall cost of an annual travel insurance plan turns out to be cheaper. Thus, this plan is highly recommended for frequent travellers not only due to cost-efficiency, but also due to the fact that they only need to apply for an insurance plan once a year. 

Single trip travel insurance, on the other hand, is definitely more suitable for occasional travellers. 

What others are saying about this card?

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Best Single-Trip and Annual Travel Insurance Plans

Let's compare the coverage and premiums for the lowest-tier travel insurance plans that have single and annual plans. The premiums are based on a 7-day trip, worldwide, before discount.

Product

Product Highlights

Single-Trip Plan(Worldwide)

Annual Trip Plan(Worldwide)

Apply
Tiq Travel Entry
Tiq Travel Entry

S$150,000 accidental death and permanent disability

S$200,000 overseas medical expenses

S$5,000 trip cancellation

S$1,000 travel delay (S$100/6h, S$20/h thereafter)

S$78

S$368
Starr TraveLead Essential with COVID-19 Coverage (Bronze Plan)
Starr TraveLead Essential with COVID-19 Coverage (Bronze Plan)

SS$50,000 accidental death and permanent disability

S$250,000 overseas medical expenses

S$5,000 trip cancellation

S$500 travel delay (S$100/6h)

S$80.25

S$307
FWD Premium
FWD Premium

S$200,000 accidental death and permanent disability

S$200,000 overseas medical expenses

S$7,500 trip cancellation

S$300 travel delay (S$100/6h)

S$70.33
(with COVID-19 cover)

S$450.20
(with COVID-19 cover)
MSIG Standard Plan
MSIG Standard Plan

S$150,000 accidental death and permanent disability

S$250,000 overseas medical expenses

S$5,000 trip cancellation

S$500 travel delay (S$100/6h)

S$121.50

S$523
Allianz Travel Insurance Bronze Plan
Allianz Travel Insurance Bronze Plan

S$50,000 accidental death and permanent disability

S$250,000 overseas medical expenses

S$5,000 trip cancellation

S$800 travel delay

S$130

S$809
Direct Asia Travel Insurance - DA150
Direct Asia Travel Insurance - DA150
S$100,000 accidental death and permanent disability
 
S$150,000 overseas medical expenses
 
S$3,000 trip cancellation
 
S$1,000 travel delay (S$100/6h)
S$69.55
S$348.33
Allied World Travel Protector Classic
Allied World Travel Protector Classic

S$150,000 accidental death and permanent disability

S$200,000 overseas medical expenses

S$5,000 trip cancellation

S$1,000 travel delay (S$100/6h, S$20/h thereafter)

S$78

S$368
AIG Travel Guard® Direct - Basic
AIG Travel Guard® Direct - Basic

S$200,000 accidental death and permanent disability

S$1,000,000 overseas medical expenses

S$10,000 trip cancellation

S$2,000 travel delay (S$100/6h)

S$133

S$663

 

Compare and purchase your travel insurance through SingSaver to get the best deals and discounts for your preferred coverage!


Pros and cons of single trip and annual travel insurance

Type of Travel Insurance Pros Cons
Single trip Affordable and can cost below $100. Great for budget-conscious travellers.

Higher maximum age (70 years old and above) of coverage.

Length of coverage can go up to 180-182 days, depending on the provider. Perfect for those on a sabbatical or digital nomads.
Buying multiple single trip plans per year could become quite expensive for frequent travellers. 

It's also quite troublesome purchasing a travel insurance plan every time you travel.
Annual travel Affordable and can cost below $100. Great for budget-conscious travellers.

Higher maximum age (70 years old and above) of coverage.

Length of coverage can go up to 180-182 days, depending on the provider. Perfect for those on a sabbatical or digital nomads.
Can be expensive for those who travel only on occasion. 

Covers multiple trips but limits each trip to 90 days (depending on provider)

 

 

Should you get a single trip or annual travel insurance?

How do you choose between single trip or annual travel insurance then? Here are a few examples to help you pick the right type of travel insurance for you.

Annual travel insurance: frequent flyers going on many short trips (less than 90 days each)

Annual travel insurance is the better option for those who fly in and out of Singapore more than six times a year.

Taking the above example, a single trip travel insurance plan costs S$50 while an annual plan costs S$289. In this case, travelling more than five times to the same region with annual travel insurance is more cost-effective. However, the frequency to determine whether an annual plan is worth it differs for each provider and plan, depending on the premiums.

With an annual travel insurance, frequent travellers can plan their trips with ease. It saves them the hassle of applying for travel insurance each trip. Enjoy year-round coverage on trip cancellations, baggage loss, theft, accidents, medical emergencies, and more. 

Single trip insurance: for infrequent travellers or trips more than 90 days

If you travel less than five times a year, or are going on a trip for more than 90 days, then single trip insurance is for you. 

For travellers above the age of 70, there are only a few options for an annual travel insurance plan as most insurers only allow you to purchase one before turning the age of 70. In that case, you may renew the plan up until you turn 80. 

Remember to thoroughly read your insurer’s policy document before setting off to your travels. Furthermore, note that there are coverage add-ons for extreme sports, rental vehicles, and such. Thus, choose your plan according to your needs and trips. 

 


 

Looking for travel insurance deals?

We’ve got no lack of exclusive promotions to help you save even more!


 

Protected up to specified limits by SDIC.

Note: This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that are not suitable for you may impact your ability to finance your future healthcare needs.

If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.



FINANCIAL TIP:

Use a personal loan to consolidate your outstanding debt at a lower interest rate!

 

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