Making an average of 5.2 trips in a year, we can’t deny that Singaporeans travel more than many other Asians.
However, in the shadow of every vacation are the potential risks of overseas travel from flight delays, medical problems, theft and even personal liability.
It’s the reason why more than ever, travel insurance is one of the most essential things you need to invest in for your trip. After all, isn’t all the expenses you paid for in advance for one good vacation worth insuring?
Why you need travel insurance
Travel insurance offers you the peace of mind knowing that you’re protected from financial losses incurred from unforeseen situations on your trips such as rebooking plane tickets, getting accommodation at the last minute and the loss of your luggage.
However, while travel insurance is cheap, there is a bewildering array of options, not to mention different insurance companies and policy selections that can be pretty overwhelming. So, as a licensed general direct insurer, HL Assurance will discuss what the ideal travel insurance should typically cover in your trip.
Flight Insurance - Flight insurance is technically a life insurance policy that has you covered in case the plane you’re in crashes during the trip.
Baggage Insurance - If your baggage is delayed, the insurance will cover the cost of the essentials you’ll need until you retrieve your bag. On the other hand, in the event of lost or damaged baggage, the insurance will cover the cost of your belongings as well as the cost of the luggage itself. However, there may be exclusions or price caps on electronics, jewellery and other expensive items.
Travel Inconvenience Insurance - This type of insurance gets you covered in the case your trip is delayed or cancelled due to some unpredicted reasons such as health issues, baggage damage, accident or inclement weather. It reimburses you the non-refundable fees you have paid in advance, which can be handy if you’re travelling to countries prone to extreme weathers and natural disasters.
Medical Insurance -A key selling point of any travel insurance, a medical coverage shoulders your medical expenses in case you are injured or fall ill during your travel outside the country. It often covers expenses for emergency evacuation, repatriation, sudden disability and so on. It’s mostly recommended for those working or studying abroad long-term.
All-Inclusive Travel Insurance
The ideal travel insurance should encompass all the mentioned coverages into one policy. Although it might be on the pricier side, purchasing insurance that would protect you against any inconveniences and financial risks your trip may entail can be worthwhile.
If you travel extensively, it may be high time to start considering buying travel insurance. HL Assurance can help you get the best value on an insurance policy. Get covered today!
