Traveling is an activity that involves the movement of people within distant geographical locations. This can be done by riding airplanes, ships, buses, boats, trains, automobiles, bicycles, and even on foot. Also, this includes short relative stays with or without means of luggage between consecutive movements as for the case of tourism. Right now, millions of people travel to various places with each having different motivations and purposes.
To be specific, Singapore is one of the most visited places in Asia. With its most prominent attraction, the Merlion, the country is also blessed with several beautiful places like Sentosa, Gardens by the Bay, and Tiger Sky Tower. In addition to that, to ensure the safety and security of both locals and tourists, numerous travel insurance institutions, like MoneyIQ and ETIQA Insurance, are present in the place.
And because of the extreme competition within this field, many offer various policies that range from the most affordable package to the most expensive ones. And listed below are considered to be included in the Best Travel Insurance Singapore and the most prominent establishment in the place.
ETIQA Travel Insurance Singapore
ETIQA is a business that focuses on the insurance and the cooperative system of repayment or reimbursement which was developed by Maybank. This follows a bancassurance model and offers various insurance including, life, travel, and general insurance. With over 30 branches and 14,000 agents, ETIQA Insurance was known to be the top conventional insurance provider in Asia.
For its travel insurance, ETIQA comes in three different tiers: business, economy and basic plans.
Business plans covers $1,000,000 medical expenses, $1, 5000,000 emergency medical evacuation, and $400,000 personal accidents, $800 travel delay, $15,000 trip cancellation, and $5,000 loss or damage of baggage. While for the economy plans, this covers $500,000 medical expenses, $1,500,000 emergency medical evacuation, $300,000 personal accident, $500 travel delay, $10,000 trip cancellation, and $3,000 loss of baggage. And for the basic plan, they provide $200,000 medical expenses, $1,500,000 emergency medical evacuation, $200,000 personal accidents, $300 travel delay, $5,000 travel cancellation, and $2,000 loss of baggage.
MSIG TravelEasy Standard
Mitsui Sumitomo Insurance Group or commonly abbreviated as MSIG is an insurance holding company that’s located in Tokyo, Japan. This was formed last 2001 from the combination of The Sumitomo Marine & Fire Insurance and Mitsui Marine & Fire Insurance Co. Proclaimed as one of the largest property insurance company, MSIG was recoded to have 33% total market share all over Asia.
Similar to the previous company, MSIG also has three tiers for its TravelEasy insurance plans: the standard, elite, and premier.
Standard plans could cover a total of $1,400,000 for medical expenses, emergency medical evacuation, and personal accidents. Also, the plan can pay $8,100 for the travel delay, trip cancelation and loss or damage of baggage. While for the elite plan, personal accident, emergency medical evacuation, and medical expenses can be covered for $1,700,000 and a total of $15,100 for the trip cancellation, travel delay, and damages for baggage. And lastly, for the premier plan, a total of $2,500,000 and $22,600 are covered for medical-related expenses and travel-related problems, respectively.
FWD Travel Insurance
FWD is a business created by the Pacific Century Group which primarily focuses on insurance. This was established last 2013 and has been rapidly growing across Asia. With its dynamic and innovative marketing system, the company visualizes to create fresh experiences for the customers with their easy-to-understand products created and supported by modern digital technology.
And unlike the previously mentioned travel insurances, FWD is the cheapest among the list.
The institution features three plans: the FWD First, FWD Business, and FWD Premium. For the FWD First plan, this covers a total of $1,323,500 for medical expenses, personal accident, travel delay, trip cancellation and loss of baggage. While for the FWD Business and FWD Premium covers a total of $715,500 and $310,800 for the said services, respectively. However, this insurance provider offers unlimited coverage for an emergency medical evacuation for any plan which makes it different from any usual travel insurance provider.
Conclusion
Travelling has become the main reason for people to recreate, have a vacation, check tourism, and do gather information for research travels. Some even use it, as a purpose for missions trips like volunteering for a charity, visiting people, and joining religious pilgrimages. Yet, no matter their reason might be, it is undeniable that traveling creates pleasure, discovery, intercultural communications, and relaxation to one’s self.
And to keep the safety and security of these travelers, institutions that provide travel insurance services like Hong Leong Assurance and ETIQA Insurance, have become a new trend in the business and marketing industry. Establishments included in lists, like the Best Travel Insurance Singapore, were considered to be good providers because they offer worthy and reliable policies.