Travel insurance is designed to cover losses that may occur during traveling. They normally provide emergency care as well as compensation. This could be after a flight accident, flight cancelation, medical expenses, lost luggage, and others.
Almost 90 percent of Singaporeans who travel overseas normally have travel insurance. This is a significantly huge amount. But how many of them actually have the right choice of insurance? It is one thing to have travel insurance and another one to get it right. You need to get a cover that will sufficiently meet all your needs, in case of an unexpected turn of events. In most cases, you will have to pay and then send those receipts to the insurer for reimbursement. However, note that the reimbursement process is faster nowadays. This is facilitated by better technology and the internet. HL Assurance is one of the best insurance companies in Singapore that offer clients easier and timely services. All you have to do is to select a policy that suits you.
Choosing the Right and Cheap Travel Insurance Policy
There is a myriad of insurance policies to cater to different user needs. However, a lot of people tend to focus on what’s cheap. The truth is that getting the right travel insurance policy is important. So, how do you ensure that you choose the right policy?
Well, you have to understand the basics. Know where, how, and when you will be traveling. Sit down and make a comprehensive list of all the destinations you will be going to. Secondly, it’s important to highlight the key details. For instance, consider what are you taking with you, especially expensive equipment. Additionally, your flights, other modes of transportation, and activities you will be engaging in are all crucial.
Factors to Consider When Choosing an Insurance Coverage
The key factors to consider include:
- The type of coverage: analyse the benefits of various insurance plans. Compare them to your needs and then choose one that suits you.
- Type of plan: travel insurance policies come in many forms. For instance, there are those that target Asian countries, European countries, students, experts, the elderly, patients, etc. So, ensure that you get a policy plan that perfectly meets your personal needs.
- Flexibility: a good travel insurance should be flexible enough to allow for changes. Before or even while you are traveling, changes are bound to occur. So, it should be effective in accommodating new features or developments. For instance, you might want to reduce or increase the traveling duration.
- Premiums: a good insurance plan should have affordable premiums which complement the benefits offered.
- Add-ons: the availability of optional add-ons which are not in-built in the official policy is crucial. They help to enhance the whole coverage and allow for personalisation.
Looking for Travel Insurance that Gives You Versatility?
With HL Assurance Travel Protect360, you can get up to 60% discounts for Single-Trip or 50% discount for Annual Unlimited plan. This cover ensures that you can travel to any part of the world without worry. HL Assurance’s comprehensive holiday package consists of:
- Comprehensive medical evacuation cover.
- Extensive travel inconvenience benefits.
- High overseas medical benefit
- Rental car excess benefit.
Overall, a basic policy should be able to cover medical emergencies, canceled flights, and lost luggage. But if you have specialised needs, you can make use of the add-on. However, be sure that you will be charged an extra amount of money. For instance, if you have a pre-existing medical condition that could be triggered by a change in the environment, get a policy that fully covers this situation.
Some places or activities are highly volatile. This means that you risk falling sick, suffering from injuries, or losing luggage. For instance, there are places which are at high risks of experiencing storms, floods, and terrorist attacks among others. Besides that, there are activities which are dangerous, for instance, bungee-jumping. In case you are bound to experience any of these things, then get a policy that will fully cover them.
Types of Travel Coverage
There are several types of coverage. You can choose one depending on where you are traveling and your needs. If it’s a close location, then you just need a basic policy. It’s important not to dismiss the effectiveness of basic travel insurances since they come in handy for a lot of people. According to Singapore’s Tourism Board, it’s surprising that almost half of the insurance claims are usually made by those traveling to neighbouring countries. So, if you are going to a remote location, a nearby country, or will be engaging in high-risk activities, you should get an extensive cover.
Note: frequent travelers should opt for annual policy plans. They are much cheaper and cost-effective. If you rarely travel, go for a single-trip policy cover.
The Use of Credit Card and Travel Insurance
In case you have a credit card that comes with travel insurance, then you don’t need to buy another policy. You can only do so if the policy for your credit card doesn’t cater to all your needs.
Compare Various Insurance Plans
Only buy a policy after extensive comparisons. This helps to ensure that you get the best deal. To make your work easier, you can use online comparisons sites like MoneyIQ or GoBear. Note that comparison helps to ensure that all your needs are catered to by selecting the best option.
It’s worth noting that there are sites which also give company recommendations. So you will be able to learn about the best companies for you in terms of services, types of plans, as well as customer service.
Final Thoughts
It’s clear that a large number of Singaporeans use travel insurance when they travel overseas. As much as this is good, it’s also important for them to pick the best plan. This helps to ensure that their needs are well-catered to while they are away.
There is a broad range of insurance companies that offer competitive plans. But as much as most people are normally attractive to the cheapest policies, it’s crucial to get the right cover. You need something that offers value for your money. HL Assurance is one of the best companies that professionally handles all its customers. Not only does it offer different plans for different users, but it also ensures that all your personal needs are met efficiently.
