Choosing the right travel insurance

If you’ve only got a minute:

• Opt for a travel insurance policy from a reputable company and ensure that the coverage suits your needs, especially if you have pre-existing medical conditions.
• Prepare for emergencies by having a policy that includes a 24-hour helpline and adequate medical coverage.
• Simplify claims and management of TravellerShield Plus policy by using Chubb's online submission option with pre-filled details on DBS digibank or DBS PayLah.

Travel insurance is like a safety net for your adventures so that unexpected events don’t derail your travel plans. However, with so many options available, choosing the right travel insurance can feel overwhelming. While it might be tempting to snag the cheapest policy available, remember that not all travel insurance is created equal.

Here’s a fun guide to help you navigate travel insurance and find the perfect policy for your next escapade.

1. Know your travel style

Before diving into insurance options, reflect on your travel style. Are you a thrill-seeker planning to bungee jump in New Zealand or a cultural explorer wandering through the ancient streets of Rome? Your activities will significantly influence the coverage you need.

If you plan to engage in high-risk activities like snowboarding or skydiving, make sure your policy covers these adventures.

For instance, TravellerShield Plus, Premier and Platinum Plans cover a wide range of leisure activities, including bungee jumping and snowboarding (to name a few) as long as they are conducted for leisure and with a licensed operator.

If lounging on a beach is more your style, basic coverage may suffice - just ensure it covers medical emergencies and trip cancellations.

2. Assess your destination

If you’re heading to a remote location or a country with limited medical facilities, opt for a plan with robust medical coverage and emergency evacuation options. While Bali is popular, healthcare can be inadequate in remote areas, so securing insurance that includes medical evacuation is recommended.

Travelling to major cities may present different risks, such as theft or loss of belongings. Ensure your policy includes coverage for lost luggage and personal items.

3. Duration of your trip

The length of your trip can also affect your insurance choice.

If you’re planning multiple trips throughout the year, consider an annual multi-trip policy. This can save you time and money compared to buying separate insurance for each journey.

For extended vacations, ensure your policy covers the entire duration of your stay.

4. Compare coverage options

Don’t settle for the first plan you find! Take time to compare different policies and their coverage details by checking reviews from fellow travellers about their experiences with various insurers. This insight can reveal how well claims are handled and the overall customer service experience.

Use comparison tools and resources to view multiple policies side by side. This can help you quickly identify which plans offer the best value for your needs. Pay attention to what circumstances allow for trip cancellation claims as policies vary widely in covered reasons (read the fine print carefully!).

If you’re traveling with expensive gear like cameras or laptops, ensure these items are adequately covered. Also, check how much coverage is provided for lost or damaged luggage.

Since 31 May 2024, Chubb has made notable enhancements to TravellerShield Plus. It is the first travel insurance in Singapore to provide coverage for travel delays as short as 30 minutes. This feature distinguishes it from most other plans, which typically require longer delays before coverage kicks in.

Additionally, it compensates for lost frequent flyer miles or loyalty points. If your flight is cancelled unexpectedly and you can't recover those points, TravellerShield Plus may reimburse you up to the retail price of your airline ticket or accommodation expenses, allowing you to bounce back quickly and keep your travel plans on track without any extra stress.

5. Exclusions

Be aware of exclusions regarding pre-existing conditions and high-risk activities to avoid any surprises during your travels. Many policies do not cover incidents related to alcohol or drug use, acts of terrorism or natural disasters unless specified.

If you have health issues prior to purchasing insurance, make sure they are covered under your chosen plan; TravellerShield Plus offers pre-existing conditions coverage as an add-on for those who require it.

6. Simplifying claims

Consider how easy it is to file claims by opting for providers that offer straightforward online submission options. Make sure they have a 24-hour helpline. This can be invaluable especially when you need urgent assistance in a foreign country.

For example, Chubb provides a fuss-free claims process - simply fill in a form online, attach all supporting documents. Its round-the-clock helpline ensures help is always available when needed.

After purchasing your travel insurance policy, remember to save the helpline number in your phone’s contacts to avoid scrambling through emails or paperwork when you need assistance.

By following these tips and being proactive in your research, you'll be well-equipped to select the right policy that suits your needs to embark on your journey with confidence.

Remember that travel should be about enjoyment and exploration. Let your insurance provide the safety net while you create unforgettable memories! Happy travels!

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Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.