DBS travel insurance plans automatically include Covid-19 coverage for the following:
DBS travel insurance plans are very comprehensive, often offering comparable or slightly higher coverage than other providers offer. This is especially for your overseas medical expenses which start at $300,000. But you pay for what you get – DBS travel insurance also comes with higher premiums.
When I buy travel insurance, I don’t care much if the insurer has 900 years of experience or if the plan comes with extra coverage for Chanel handbags. Just give me the cheapest travel insurance plan you can liao!
If this sounds like you too, you’ll be happy to know that we’ve done the legwork for you. After evaluating the most popular travel insurers in Singapore, the honor of cheapest travel insurance in Singapore goes to… Bubblegum Travel Insurance.
But as the old saying goes, you get what you pay for. Will you regret being a cheapskate and missing out on important coverage if the only number you look at is price?
Looking at the non-Covid coverage first, Bubblegum’s overseas medical expense limit of $150,000 is slightly lower than other providers. For comparison, the lowest level of the FWD comes with an overseas medical expense limit of $200,000.
Next, we look at coverage of Covid-19. After Bubblegum, the next 3 cheapest travel insurance options won’t cover you for Covid-19, and you’ll need to pay anywhere from $15.45 to $40 more to get these benefits. Comparatively, Bubblegum Travel Insurance already comes with Covid-19 coverage, including up to $65,000 for Covid-19 medical expenses, $1,400 ($100/day) in hospital cash, and $5,000 if your trip is canceled due to Covid-19.
All in all, Bubblegum Travel Insurance is the most affordable travel insurance option that already includes Covid-19 coverage. It also has decent regular non-Covid coverage – not the best but good enough for a trip abroad. This makes it a great value for money option if you are just looking for full travel insurance benefits.
However, if you have specific travel insurance coverage in mind, such as a travel reduction benefit, then evaluate other travel insurance options to find one that meets your specific needs.
8. Does travel insurance cover Covid-19?
When the Covid-19 pandemic began, most insurers did not extend their coverage for Covid-19 related mishaps. The pandemic was quickly deemed a “known event” for which insurers typically do not provide compensation. So if your flight is canceled because of Covid-19, you’re out of luck trying to get your insurance claims approved.
Now, as travel restrictions are lifted, insurers are racing for a piece of the pie. As the virus appears to be here to stay, most insurers are offering coverage that includes specific benefits for Covid-19. Where Covid-19 benefits are not already included in the policy, insurers offer an optional Covid-19 add-on that you can pay to add to your existing regular coverage.
Read your policy documents carefully to see if Covid-19 is covered and add it if necessary.
ALSO READ: Best Travel Insurance Policies for Natural Disaster Prone Places (2022)
9. How do I choose the best travel insurance with Covid-19 coverage?
Covid-19 coverage can vary widely from insurer to insurer. When shopping for the best insurance policy, there are three things to look out for when choosing the best travel insurance with Covid-19 coverage:
- Coverage of medical expenses
- Hospital money abroad
- Overseas quarantine allowance
- trip cancellation
Please note that plans still exclude travel against a travel advisory implemented by the Government of Singapore or the local authority at your travel destination. Meaning, if your destination country goes on red alert for Covid-19, it is very likely that visitors will come into contact with the virus and it is highly likely that your insurance will reject any Covid-19 claims. So make sure you check the ads on both ends before you go.
Another common exclusion is not taking precautions against Covid-19. This is worded loosely in those lengthy insurance policies, but it can include not following any Covid-19 regulations at your destination or on the plane. So make sure you wear your mask whenever you have to (or even when you don’t if you want to play it safer) and don’t go to illegal raves.
10. What should I do if I catch Covid-19 during or after traveling?
First, when booking your trip, you should keep all receipts, tickets and itineraries in case your trip needs to be canceled or changed.
At the first sign of Covid-19 infection or travel-related disruption, you should call your insurance company and ask for guidance. Many insurers maintain a 24-hour travel claims hotline. Save this number before you leave Singapore so you don’t get stuck somewhere without wifi or 4G to Google the hotline.
To claim, you will normally need to submit your insurer’s form with supporting documents by the deadline indicated in your contract (usually 30 days). Don’t wait until you’re back in Singapore to check what documents you need.
If you catch Covid-19 while in Singapore, you will likely need to submit the results of a PCR swab test or rapid antigen test performed at a clinic or hospital.
It gets a little more complicated if you’re abroad. The insurance company will likely require documentation from the hospital, as well as a letter from your doctor stating that you are unfit to travel and/or recommending treatment.
If you need to be quarantined abroad, make sure you have a government quarantine order, otherwise you may not be able to apply for the quarantine allowance. Remember to ask for this, as not all countries automatically issue this documentation.
This article was first published on MoneySmart.