MSIG travel insurance is one of the most popular brands in Singapore and is second only to NTUC (impressive!). That’s probably because MSIG used to be the provider of DBS travel insurance.
DBS might have since changed their provider to Chubb, but that doesn’t mean that MSIG travel insurance isn’t solid. Let’s have a look at whether MSIG TravelEasy is worth your money.
MSIG travel insurance at a glance
Here’s a quick look at the 3 tiers of MSIG TravelEasy insurance plans:
|Travel insurance plan||Standard||Elite||Premier|
|Price for 1 week (ASEAN)||$47||$59||$80|
|Price for 1 week (Asia)||$55||$74||$109|
|Price for 1 week (worldwide)||$76||$96||$134|
|Promotion||50% off single trip plans|
|Medical expenses (overseas)||$250,000||$500,000||$1,000,000|
|Emergency medical evacuation||$500,000||$1,000,000||$1,000,000|
|Personal accident (death & TPD)||$150,000||$200,000||$500,000|
|Travel delay ($100 every 6 hours)||$500 (flights)
$500 (public transport)
$1,000 (public transport)
$1,500 (public transport)
|Baggage delay||$150 every 6 hours up to $600||$250 every 6 hours up to $1,000||$375 every 6 hours up to $1,500|
|Adventure activities covered?||No||Yes||Yes|
MSIG travel insurance promotions
Though the listed prices of MSIG travel insurance plans seem pretty hefty at first glance, there’s almost always a promotion to keep their prices competitive, like the current 50% discount off single trip plans.
That means if you get an MSIG TravelEasy Standard plan for a week in ASEAN, it’d only set you back $23.50. That’s quite a steal.
To see what’s on, just click or tap on the “Promotions” tab on the MSIG travel insurance page.
As long as the 50% promotion is on, I’d say it’s worth it to buy travel insurance from MSIG. The price is really competitive against the likes of NTUC Income, Aviva and FWD.
What does MSIG travel insurance cover?
Overall, MSIG’s travel insurance coverage is pretty adequate. The Standard plan has a slightly low coverage limit for emergency evacuation, and the payout for baggage delays is lower than standard, but those aren’t dealbreakers.
But the important thing to note is that the cheapest Standard plan is limited in coverage if you’re planning anything more than a normal sedate city getaway. It doesn’t cover most outdoor activities, even basic ones like skiing and scuba diving.
So you might want to opt for an Elite (or even Premier) plan for better and wider coverage. These higher tier plans cover a whole slew of outdoor activities, including the common ones listed here:
|Outdoor activity||Covered by MSIG?|
|Hot air balloon||Elite & Premier only|
|Scuba diving||Elite & Premier only (up to 30m)|
|Skiing and other ice/snow sports||Elite & Premier only|
|Hiking or trekking||Elite & Premier only (up to 3,000m)|
|Mountaineering or outdoor rock climbing||Elite & Premier only (up to 3,000m)|
|Marathons or other competitions||Elite & Premier only (marathon up to 42.195km)|
|Jet skiing||Elite & Premier only|
|White water rafting||Elite & Premier only (up to Grade 3)|
|Skydiving||Elite & Premier only|
|Paragliding, hang gliding or parachuting||Elite & Premier only|
|Bungee jumping||Elite & Premier only|
The Elite & Premier plans also cover loss of wedding-related items (so it’s good for wedding photoshoots or destination weddings) and entertainment/sports tickets (so get this if you plan to go to a festival or watch a major football match).
MSIG travel insurance claim procedure
Emergency hotline: Call the MSIG emergency assistance hotline at +65 6323 8288
Phone claims: For non-emergency but urgent claim requests, call MSIG’s Claims Hotline at +65 6827 7660. A claims officer will be in touch with you to handle your case.
Hard copy claims: You can submit your claim in person or mail it to MSIG, 4 Shenton Way, #21-01 SGX Centre 2, Singapore 068807.
Things to note: Refer to MSIG’s travel insurance claims page for instructions and a useful checklist of required documents before you make a claim. There’s also a chatbot with whom you can check on your eligibility for certain claims.
MSIG prides itself on a good claims experience, with personalised, responsive claims specialists attending to your requests. They typically settle straightforward claims within 2 to 3 weeks. Expect some delays during peak travel periods like school holidays.
Conclusion: should you buy MSIG travel insurance?
If you just look at its cheapest Standard plan, MSIG travel insurance is extremely affordable after the generous promotional discounts.
The level of support and clarity MSIG provides is also reassuring. Terms & conditions are clearly stated on the site, not hidden away in some remote PDF, and the claims process appears to be pleasant. Basically, it looks like MSIG knows their stuff.
However, the drawback is that MSIG has made the Standard plan very limited in comparison to the Elite and Premier plans. Once you compare their coverage, you will definitely feel tempted to upgrade. It’s a bit like how budget airlines compel you to add a bundle on to your basic-ass air ticket.
In my opinion, it is worthwhile to pay a bit more for Elite if you’re taking part in outdoor activities, a wedding shoot or catching some kind of music or sports event overseas. As a bonus, you get higher coverage limits too.
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Tags: Travel Insurance