Annual Travel Insurance (2019) – 7 Best Annual Travel Insurance Plans Under $250/Year for Singaporeans

“Annual travel insurance? Isn’t that for frequent flyers, like those investment bankers and C-level executives?” you ask. Actually, I’d argue that it’s something that’s very worthwhile for many regular Singaporeans to buy.

We’re always whining about how we have no time to travel, we’re so burnt out from this rat race, life in Singapore is so boring, blah blah. But the fact is that Singaporeans are an extremely privileged bunch. According to stats, the national travel average is 5.2 times a year.

5.2! That makes us one of the most well-travelled nations in the world, side by side with those tall, handsome Scandinavians who are absolutely swimming in money and annual leave days.

Not only will buying annual travel insurance save you money if you travel at least 7 or 8 times a year – fewer if you count Europe or the US among your destinations – it’ll also save you the mad scramble of buying insurance online just moments before your plane takes off.

 

Best annual travel insurance plans in Singapore (2019)

“But I’m so busy travelling! Where got time to compare all the different annual travel insurance plans?” you wail.

Luckily for you, I’m paid to do just that. Here are the cheapest annual travel insurance plans that you can get under $250. After reviewing some 20 insurance providers in Singapore, I’ve shortlisted the best annual travel insurance plans for the average Singaporean traveller.

Annual travel insurance	Best for…	Cost for 1 year
The Wise Traveller Secure	Value-for-money boutique insurer	$188
FWD Premium	For budget travellers	$188.80
American Express My VoyageGuard Essential	Good medical coverage for a good price	$207.20 (20% off)
Direct Asia DA200	Higher than average coverage for trip cancellation	$209 (40% off)
The Wise Traveller Premium	Higher than average coverage all round	$214.90 (30% off)
Allianz Travel Insurance Silver	Extremely high medical & travel inconvenience coverage	$237.60
Aviva Travel Lite	Pregnancy & childbirth coverage	$249

All 7 plans have all-rounded good coverage, including for medical expenses, emergency evacuation, trip cancellation, baggage loss/damage, plus travel/baggage delays.

But each one has a unique selling point that makes it a standout. I’ll go into detail in the following sections.

 

The Wise Traveller Secure annual travel insurance ($188/year)

If you want to take your chances with an independent travel insurance brand, consider The Wise Traveller as it has the cheapest annual travel insurance plan right now after 20% off.

This is a boutique insurer you may not have heard of, but the policy is actually underwritten by Tokio Marine and emergency assistance is rendered by Allianz – both big names in insurance.

While it’s the most inexpensive, it actually has significantly higher benefit limits. You get really extensive coverage on both the medical/emergency front as well as travel inconveniences.

In particular, the payout for travel delay is US$150 per 6 hours, much higher than the typical S$100. Unfortunately, most adventure sports including snow/ice sports and skydiving aren’t covered, so skip it if you plan to hit the powdery slopes in Niseko.

Annual travel insurance	The Wise Traveller Secure
Price for 1 year (Worldwide)	$188 through MoneySmart (20% off)
Medical expenses (overseas)	$315,000
Emergency medical evacuation	Unlimited
Personal accident (death & TPD)	$210,000
Travel delay	$1,000
Trip cancellation	$10,500
Baggage loss/damage	$5,000
Adventure activities covered?	No

Emergency hotline: +65 6327 2215 (Allianz Global Assistance)

Travel insurance claims: Simple. Just submit your claims through the Wise Traveller online claims portal which also specifies what documents are required.

For medical and dental claims, you have to mail the supporting documents + acknowledgement email to Allianz Global Assistance, 12 Marina View, #14-01 Asia Square Tower 2, Singapore 018961.

 

FWD Premium annual travel insurance ($188.80/year) 

There’s no doubt about it. FWD is the millennial’s insurer, and we’re so glad to see that their annual travel insurance is now $188.80 (thanks to 20% off), making it one of the cheapest annual travel insurance plans in the market.

(Of course, given the crazily competitive nature of travel insurance, this might change any minute.)

Despite its super-low price, it has good overall coverage for Singaporeans who mainly travel around Asia with the occasional sojourn to Europe and beyond. Travel inconvenience benefits a little on the lower side, which means it’s more suited to budget travellers.

Annual travel insurance	FWD Premium annual travel insurance
Price for 1 year (Worldwide)	$188.80 after discount
Medical expenses (overseas)	$200,000
Emergency medical evacuation	Unlimited
Personal accident (death & TPD)	$200,000
Travel delay	$300 ($100 for every 6 hours of delay overseas and in Singapore)
Trip cancellation	$7,500
Baggage loss/damage	$3,000
Adventure activities covered?	Yes excluding airborne e.g. skydiving, bungee jumping

Emergency hotline: +65 6322 2072

Travel insurance claims: FWD’s click to claim feature allows you to sign in with an account and make a claim within minutes. You just need your personal details such as name, NRIC number, mobile number, email, and policy number and you’re done!

 

American Express (Chubb) My VoyageGuard Essential ($207.20/year)

American Express My VoyageGuard Essential annual travel insurance is not the cheapest in the market but it’s still an affordable $207.20 after discounts.

The good thing about American Express My VoyageGuard Essential is that it covers for skydiving and bungee jumping, and the medical coverage is higher than the lower-end annual travel insurance at $500,000.

They’re running a limited time promotion from 22 October to 21 November where you can get a complimentary Samsonite luggage if you get superior plans.

Annual travel insurance	American Express My VoyageGuard Essential annual travel insurance
Price for 1 year (Worldwide)	$207.20 after discount
Medical expenses (overseas)	$500,000
Emergency medical evacuation	Unlimited
Personal accident (death & TPD)	$125,000
Travel delay	$800 ($200 for every 6 hours of delay overseas and in Singapore)
Trip cancellation	$5,000
Baggage loss/damage	$3,500
Adventure activities covered?	Yes includes airborne e.g. skydiving, bungee jumping

Emergency hotline: +65 6836 2922

Travel insurance claims: When it comes to claims, American Express My VoyageGuard may not be the most intuitive. It’s underwritten by Chubb Travel Insurance, so you submit your claim at Chubb Claim Centre.

 

Direct Asia DA200 annual travel insurance ($209/year)

Within the price bracket of AMEX (Chubb) annual travel insurance is the Direct Asia DA200. While it pales in comparison to AMEX’s annual travel insurance in terms of medical coverage, it has higher trip cancellation coverage at $10,000. This means that if you primarily travel via budget airlines, Direct Asia DA200 is quite good.

At $209 after 40% off, Direct Asia DA200 is one of the most affordable annual travel insurance plans.

Annual travel insurance	Direct Asia DA200 annual travel insurance
Price for 1 year (Worldwide)	$209 (40% off)
Medical expenses (overseas)	$500,000
Emergency medical evacuation	Unlimited
Personal accident (death & TPD)	$125,000
Travel delay	$800 ($200 for every 6 hours of delay overseas and in Singapore)
Trip cancellation	$5,000
Baggage loss/damage	$3,500
Adventure activities covered?	Yes includes g airborne e.g. skydiving, bungee jumping

Emergency hotline: +65 6532 1818, or +65 6603 3699 (Overseas)

Travel insurance claims: DirectAsia has a 24-hour claims hotline and you can also submit your claims online.

 

Allianz annual travel insurance ($237.60/year)

There are plenty of up-and-comers offering annual travel insurance around the $200 mark, such as FWD, Etiqa and DirectAsia. But I find that their annual travel insurance plans are not comprehensive enough for a year-long commitment.

If you’re going to pay $2XX for annual travel insurance, you might as well pay a little bit more and get pretty much the best on the market – the Allianz Global Assistance Silver annual plan.

The coverage is amazing for what you pay. The $1 million limit for overseas medical expenses and unlimited evacuation mean you’re pretty much covered anywhere you go, even if it’s to pricey countries like the US.

With its very high benefit limits for trip cancellation and lost/damage items, it’s suitable for even lavish travellers.

The main weakness is an extremely low personal accident payout – so either get a separate PA plan or live with it (if you don’t have dependents). Another thing to note is that it doesn’t cover all outdoor activities.

Annual travel insurance	Allianz Global Assistance Silver
Price for 1 year (Worldwide)	$237.60
Medical expenses (overseas)	$1,000,000
Emergency medical evacuation	Unlimited
Personal accident (death & TPD)	$80,000
Travel delay	$1,500
Trip cancellation	$15,000
Baggage loss/damage	$12,000
Adventure activities covered?	Yes, excluding skydiving

Emergency hotline: +65 6327 2215

Travel insurance claims: Submit claims quickly and easily through the Allianz online claims portal.

For medical and dental claims, you have to mail the supporting documents + acknowledgement email to Allianz Global Assistance, 12 Marina View, #14-01 Asia Square Tower 2, Singapore 018961.

 

Aviva Travel Lite annual travel insurance ($249/year)

Aviva’s annual travel insurance is significantly more expensive than the previous 2, but it’s my pick for women travellers because it explicitly insures pregnancy and childbirth.

Now, I’m NOT saying that being female is equal to bearing children – that’s like something out of The Handmaid’s Tale. But if there’s the slightest chance you might be pregnant in the coming year, I think it’s worth it to pay $60 more for assurance that you and your potential baby are covered.

Pregnancy-related overseas emergency medical expenses for Aviva Travel Lite are covered for $1,000.

If you have an immediate family member with a MINDEF/MHA policy with Aviva, you get 30% off, which makes the plan excellent value. (In fact, if you do have the 30% discount, I’d recommend upgrading to Aviva Travel Plus because of their tok gong $2 million medical coverage limit.)

Annual travel insurance	Aviva Travel Lite
Price for 1 year (Worldwide)	$249
Medical expenses (overseas)	$250,000
Emergency medical evacuation	$250,000
Personal accident (death & TPD)	$50,000
Travel delay	$1,000
Trip cancellation	$5,000
Baggage loss/damage	$3,000
Adventure activities covered?	Some, but not bungee jumping, sky diving or mountaineering

Emergency hotline: +65 6322 2022

Travel insurance claims: Submit your claim through the Aviva online form linked on this page.

For any upfront expenses e.g. medical bills, you need to mail original supporting documents (write down your policy number) to Aviva Travel Insurance Claims, Aviva Ltd, 4 Shenton Way, #01-01 SGX Centre 2, Singapore 068807.

For more about Aviva travel insurance, read our comprehensive review here.

 

How should you choose annual travel insurance?

There are a few factors you should consider before you take the plunge. Annual travel insurance is, after all, a year-long commitment and you can’t switch providers midway just because you buay song.

Here are some basics to know before you click “buy”.

Worldwide coverage: Always choose worldwide coverage so you’re not limited to specific regions when you travel. Even if you don’t have anything planned yet, you just never know where 2019/2020 will take you.

Individual vs group plans: Generally annual travel insurance is a personal decision, but do note that some insurance providers give you better rates if you buy as a couple. (You don’t necessarily have to travel together.)

Basic vs upper-tier plan: With travel insurance, you don’t want to be too giam and just stick to the cheapest plan offered by the provider. Instead, consider both basic and mid-tier plans for the best mix of affordability and coverage.

Medical & emergency coverage: You might end up travelling to expensive countries, so make sure to buffer against high healthcare costs. Go for overseas medical expense limits of at least $300,000 if possible, and at least $1 million for emergency evacuation.

Travel inconvenience coverage: You can get away with lower coverage for travel delays and such with single trip insurance, like if you’re going to Bali where the tourist infrastructure is strong and accommodation is plentiful. But you wouldn’t want to have to sleep at the airport in the US just because you can’t get enough compensation for a travel delay. So, pick only annual travel insurance with good coverage for travel inconvenience.

Priced under $250: Generally you won’t want to spend more than $250 on an annual travel insurance plan unless you travel more than 10 times a year. You’ll want your annual plan to save you money, not work out to be more expensive per trip!

Adventure activities: Unlike single-trip plans where you can choose a plan that specifically covers such activities, your annual plan needs to cover anything you might end up doing in the course of the year. Even if you’re not very outdoorsy, your colleagues might talk you into learning to dive with them. You never know. So it’s best to be as unrestrictive as possible.

Comfort level: Finally, don’t commit to an annual travel insurance plan unless you’re REALLY comfortable with the policy wording, the claims process and the reputation of the brand (both for rendering emergency assistance and for settling claims).

Looking to buy annual travel insurance? Compare all Singapore annual travel insurance policies by price and coverage first.