While you are travelling, you may have a particular budget in mind. But, you may have to go beyond your budget if you have to spend your money on unexpected expenses. For this, Singapore offers annual travel insurance plans to its citizens. In our article, we will talk about- is annual insurance in Singapore worth it?
What will an annual travel insurance plan in Singapore cover?
An annual travel insurance plan will provide you with coverage for both major and minor inconveniences. For instance, if you lose your luggage, experience a delay in your flight, or have an accident while you are on vacation overseas. A year-long or 12 months annual travel insurance coverage will cover all your immediate expenses. This will include cases of death and serious illness, flight cancellations, delayed luggage, and medical evacuation.
As an annual travel insurance plan, it will also cover and reimburse deposits for the following reasons.
- If someone uses your credit card for fraudulent practices overseas
- If someone overseas kidnaps you
To get coverage for all of the above, it is best to get an annual travel insurance plan. Another benefit of choosing this plan is that it is cheap and convenient.
Making claims on annual travel insurance
Each annual travel insurance provider has a unique process of making claims. You can make your claims via an online platform. But, at the same time, you will have to mail your insurer some supporting documents or take them to the office of the insurer. Some of the things that you need to be aware of before making claims on your annual travel insurance plan are as follows.
- Expenses of rental vehicles
Annual travel insurance plans offer coverage for accidents that occur in rental vehicles. To make a claim, you will have to submit a police report with your photos and proof of that accident. In addition, you will have to show your car rental contract and repair bills.
- Damaged or lost personal belongings
To have a claim for personal belongings, you will be required to submit your police report along with the original receipt and invoice of the items.
- Travel cancellation or disruption
To get benefits of travel disruption, you will have to display a single written proof of the cancellation or delay from the travel agent, hotel, or airline, as well as the receipt of the mode of payment.
- Medical expenses or personal accident
Similar to affordable hospital income plan in Singapore, with an annual travel insurance plan, you will get reimbursement for medical expenses overseas. You must ensure to carry all the original receipts, your full report of medical history, and, if applicable, the police report. When you return to Singapore, do not delay in making a claim on your annual travel insurance. If you are making a claim online, you will have to mail all the original documents to the provider of your annual travel insurance.
- Assistance during emergencies
Before you go out and travel, note down the number of your annual travel insurance provider. It will be useful in case of emergency situations. When it comes to emergencies, contact your insurer and have your policy number with you.
Who can use annual travel insurance in Singapore?
Just like car insurance review in Singapore, you can use annual travel insurance in terms of your own specific needs. Below we will tell you how one can make use of annual travel insurance in Singapore.
- Citizens and Expats who have family abroad
Permanent residents and expats who have family abroad whom they visit frequently can benefit from an annual travel insurance plan. This way, you will not have to worry regarding the renewal of your travel insurance every few months as you will only have to renew it once each year. In addition, if you have expensive medical care in your home country, you will be able to get affordable medical expenses with your annual insurance plan.
- Travel Bloggers
Travel bloggers often have to travel frequently, and they visit other areas not common to tourists. For this reason, if you travel for five weeks each year, an annual travel insurance plan will be worth your money. Moreover, it is important for travel bloggers to look for policies that offer high inconvenience coverage.
- Business travellers
If your company does not provide you with a plan of travel insurance for business trips, you can try an annual travel insurance policy in Singapore. You can check with your insurer for plans that provide work-related benefits. These benefits may include flexibility in trip cancellation as well as replacement traveller benefits.
An annual insurance plan safeguards you and helps you to be prepared for all emergency expenses. Thus, in each and every situation, you will have security while travelling.