UOB travel insurance is something of a hidden gem. When you buy travel insurance, the usual names that come to mind are NTUC, MSIG, FWD and so on.
But in my opinion, UOB travel insurance is one of the best travel insurance in Singapore – and I’m saying this as someone who is not a fan of UOB at all. This is a pleasant surprise because local banks usually don’t try very hard with their insurance products.
Let’s take a closer look so you can decide if it’s worth your money.
UOB travel insurance at a glance
UOB travel insurance is sold under the brand UOB Insure & Travel. It’s actually provided by UOI (United Overseas Insurance) which is UOB’s insurance arm.
Unlike most insurers, who sell insurance in 3 tiers, UOB travel insurance comes in just 2 tiers: Essential and Preferred. In terms of coverage, the cheaper Essential tier is quite comparable to other insurers’ mid-tier plans.
Here’s how the Essential and Preferred plans stack up.
|Travel insurance plan||Essential||Preferred|
|Price for 1 week (ASEAN)||$32||$42|
|Price for 1 week (Asia)||$45||$57|
|Price for 1 week (worldwide)||$68||$80|
|Promotion||40% off single trip plans until 12 Aug 2018|
|Medical expenses (overseas)||$300,000||$500,000|
|Emergency medical evacuation||Unlimited||Unlimited|
|Personal accident (death & TPD)||$250,000||$300,000|
|Travel delay ($100 every 6 hours)||$1,000||$1,200|
|Baggage delay ($200 every 6 hours)||$1,000||$2,000|
|Adventure activities covered?||Yes (but not airborne activities)|
UOB promotion for travel insurance
I don’t know about you, but I really hate buying stuff at full price, especially when I just know there’s going to be a sale just around the corner.
UOB travel insurance is kind of like that. It’s super not worth it to buy when there’s no promotion, even though the usual prices are not exorbitant (though they are rather on the high side).
When there’s a promotion, like the current 40% off for National Day weekend, UOB travel insurance can be downright cheap. After discount, a week’s worth of coverage in ASEAN is less than $20, one of the best prices you can get in Singapore.
You can check for the latest promotions on the UOB travel insurance page. Snap it up while the promo lasts!
By the way, you can also get free travel insurance with the UOB PRVI Miles Card when you charge your travel fare to the card.
But the coverage is extremely limited compared to the normal (paid) UOB travel insurance. It mainly covers death or disability resulting from a travel accident e.g. plane crash, but not other items like medical expenses.
What does UOB travel insurance cover?
In terms of coverage, UOB travel insurance is actually legit. Medical coverage is excellent, travel inconvenience benefits are higher than normal, and if you’re using a UOB credit card you also get bonus fraud protection. Even with an Essential plan, the claim limits are high.
However, UOI isn’t the most lenient of insurers when it comes to adventure activities, so UOB travel insurance is not for thrill-seekers who really want to test fate.
Here’s a list of outdoor activities that are covered, taken from the UOI policy wording document which is rather hidden from view. The notable exceptions are activities in which you’re airborne – bungee jumping, skydiving and so on.
|Outdoor activity||Covered by UOB Insure & Travel?|
|Hot air balloon||No|
|Scuba diving||Yes (with diving instructor)|
|Skiing and other ice/snow sports||Yes|
|Hiking or trekking||Yes (except in remote areas without guide)|
|Mountaineering or outdoor rock climbing||No|
|Marathons or other competitions||Yes (but not racing, motor rallies etc.)|
|White water rafting||Yes|
|Paragliding, hang gliding or parachuting||No|
UOB travel insurance claims procedure
Emergency assistance hotline: +65 6337 9126
UOB travel insurance claims: Download the claim form from the UOB travel insurance page and mail with supporting documents to United Overseas Insurance Ltd, 3 Anson Road, #28-01 Springleaf Tower, Singapore 079909
It’s unfortunate that UOB travel insurance claims can only be done by mail, because loads of insurers allow you to file claims online and even through Whatsapp.
Claims are handled by a third party company, Broadspire by Crawford & Company, and there’s no word on how long the lead time is.
Conclusion: should you buy UOB travel insurance?
It depends on whether there’s a good promotion going on. If there is one, then UOB travel insurance is one of the most bang-for-buck ones out there – even the cheaper Essential plan has excellent coverage.
If there’s no promotion, UOB travel insurance can be a bit pricey at full price. Travel insurers are always discounting their plans, so you’re almost certain to be able to find a better deal out there (insert shameless plug for MoneySmart’s Travel Insurance Wizard here).
It doesn’t make sense to overpay for your travel insurance unless this is some high-stakes trip, like the picture-perfect Maldives wedding you’ve been planning for the last 3 years.
Overall, UOB travel insurance offers very good travel insurance benefits all around, from medical coverage to coverage of travel inconveniences. and its medical coverage is particularly high. It also covers a decent range of outdoor activities (but not airborne ones). Its biggest drawback is probably the fact that its claims process is rather outdated.
Looking to buy UOB travel insurance? Compare all Singapore travel insurance policies by price and coverage first.
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Tags: Travel Insurance