Categories > Insurance
5 Best Travel Insurance Agencies in Singapore
1. FWD Insurance
Coverage: Life and health, home, motor, and travel insurance
Website: https://www.fwd.com.sg/
Address: 6 Temasek Blvd, #18-01 Suntec Tower 4, Singapore 038986
Contact Details: +65 6280-8888
Operating Hours: Monday to Friday: 9:00 AM – 6:00 PM
Google Reviews | 4.5/5 |
Trustpilot | 4.5/5 |
Total reviews | 5/5 |
Score consistency | 5/5 |
Coverage | 5/5 |
Reputation | 5/5 |
-Years in the industry | 5/5 |
-Credentials | 5/5 |
Financial strength | 4.5/5 |
Customer service | 4/5 |
-Responsiveness | 5/5 |
-Promptness | 4/5 |
Pros
- Budget-friendly rates
- Three tiers accommodate more clients
- Sports equipment coverage available
- Easy-to-use app
Cons
- Overseas medical coverage not as stellar as trip delay coverages
- Delayed responses to claims possible
We find FWD Insurance promising thanks to its relatively affordable premiums. There are also three tiers to choose from, accommodating more clients with various budget caps.
Aside from affordability, FWD Insurance’s travel benefits are helpful for the most part.
We find the travel delay, baggage delay, and sports equipment coverage particularly laudable, as feedback for these was so far above average despite the low premium rates.
That said, we can’t say the same for the company’s overseas medical expenses coverage. Clients we talked to pointed out the slow claiming process for this benefit as the reason why this part of the package is below average.
It’s a good thing that the agency has a user-friendly app through which clients can file their claims, as it makes things easier. However, know that the process might be slow if the claim is complex and requires additional documents.
Response rate might also frustrate some clients who are used to receiving a reply to their queries right away. We heard cases of 30 minutes to a few days of delay.
2. MSIG Insurance
Coverage: Travel, home, motor, health, and personal accident insurance
Website: https://www.msig.com.sg/
Address: 4 Shenton Way, #21-01, Singapore 068807
Contact Details: +65 6827-7602
Operating Hours: Monday to Friday: 8:45 AM – 5:30 PM
Google Reviews | 4.3/5 |
Total reviews | 3/5 |
Score consistency | 5/5 |
Coverage | 5/5 |
Reputation | 5/5 |
-Years in the industry | 5/5 |
-Credentials | 5/5 |
Financial strength | 5/5 |
Customer service | 4.02/5 |
-Responsiveness | 3.5/5 |
-Promptness | 4/5 |
Pros
- Regular promos help save on costs
- Outdoor activities coverage available under higher tiers
- Values transparency
Cons
- Customer service a bit inconsistent
- Payouts for some coverage slightly lower than average
MSIG Insurance is quite an appealing agency, as it offers discount promos regularly, making its lowest tier rates much more affordable.
The promos are most helpful for first-time buyers, who can be entitled to discounts reaching 40% and above plus vouchers.
However, we found the pull of affordability short-lived, as the lowest tier has limited coverage compared to the higher two. For instance, outdoor activities during travel are only covered if we purchase elite or premier plans.
You might also want to consider that MSIG’s standard payouts for baggage delays and its COVID-19 extension are slightly lower than average.
It’s worth noting that MSIG is transparent with its terms and conditions, though. Proof of the matter is that we can read the policy details directly from the company website!
The claiming system is generally smooth, too, but only if we got ahold of customer service.
We think sending queries via e-mail or calling isn’t enough at times due to the bulk of requests the company receives, so we suggest transacting with MSIG in person.
3. HL Assurance
Coverage: Travel, car, home, and fire insurance; commercial insurance
Website: https://www.hlas.com.sg/
Address: 11 Keppel Rd, #11-01 ABI Plaza, Singapore 089057
Contact Details: +65 6702-0202
Operating Hours: Monday to Friday: 9:00 AM – 6:00 PM
Google Reviews | 4.5/5 |
3.4/5 | |
Total reviews | 5/5 |
Score consistency | 3/5 |
Coverage | 4.3/5 |
Reputation | 5/5 |
-Years in the industry | 5/5 |
-Credentials | 5/5 |
Financial strength | 5/5 |
Customer service | 4.3/5 |
-Responsiveness | 4.3/5 |
-Promptness | 4.3/5 |
Pros
- Above-average trip and baggage benefits
- Single-trip policy available
- Reasonable rates
Cons
- Medical coverage can be limited
- Some outdoor activities not covered
Clients who prioritize utility over quantity may find HL Assurance’s travel packages ideal.
The company offers basic coverage for travelers at reasonable prices, which can be attractive for those who worry about travel inconveniences the most.
We find the trip and baggage benefits particularly attractive, as there are above-average payouts for these coverages.
We also like that you can choose between a single trip or an annual policy, with the former being the practical choice for infrequent travelers.
However, you might want to reconsider purchasing a package, as HL Assurance is limited in other areas.
For instance, the travel policies don’t include coverage for sports equipment and adventurous activities such as bungee jumping and mountaineering.
Also, its medical coverage is not at par with other travel insurance agencies in that it has fewer benefits and lower limits.
Nonetheless, travelers who want to be protected from travel cancellations and baggage mishaps can count on HL’s no-fuss, straightforward policies.
4. DirectAsia Insurance
Coverage: Car, motorcycle, and travel insurance
Website: https://www.directasia.com/
Address: 20 Anson Rd, #08-01, Singapore 079912
Contact Details: +65 6665-5555
Operating Hours: Monday to Friday: 9:00 AM – 6:00 PM
Google Reviews | 4.1/5 |
Total reviews | 5/5 |
Score consistency | 3/5 |
Coverage | 4.2/5 |
Reputation | 4.75/5 |
-Years in the industry | 5/5 |
-Credentials | 4.5/5 |
Financial strength | 4.5/5 |
Customer service | 4/5 |
-Responsiveness | 4/5 |
-Promptness | 4/5 |
Pros
- Affordable rates
- Attractive medical coverage
- Easy-to-purchase policies
Cons
- Communication hiccups possible
- Claims processing a bit slow
DirectAsia is a convenient choice for buyers who prefer to purchase both car and travel insurance policies at affordable rates.
The company has one of the cheapest premiums out there for both insurance packages, not to mention that it offers regular promos for clients.
It also has four travel plans you can choose from, with medical coverage having the most attractive payable limits.
But while it’s easy to purchase a plan from DirectAsia, some past clients describe the claiming phase as anything but convenient.
So far, the complaints are from car insurance queries. Nevertheless, we still see this as an issue that the company should address if it wants to retain its travel insurance customers as well.
DirectAsia also has a tendency to charge additional fees for benefits that could have been included in its policies. We suggest reading the policy’s fine print carefully to spare yourself the surprise.
5. Etiqa Insurance
Services: Life, auto, home, travel, and accident insurance; business insurance
Website: https://www.etiqa.com.sg/
Address: One Raffles Quay, #22-01 North Tower, Singapore 048583
Contact Details: +65 6887-8777 | [email protected]
Operating Hours: Monday to Friday: 9:00 AM – 6:00 PM
Google Reviews | 4/5 |
4.3/5 | |
Total reviews | 5/5 |
Score consistency | 4/5 |
Coverage | 5/5 |
Reputation | 4.75/5 |
-Years in the industry | 5/5 |
-Credentials | 4.5/5 |
Financial strength | 4.5/5 |
Customer service | 4/5 |
-Responsiveness | 4/5 |
-Promptness | 4/5 |
Pros
- Has coverage for pre-existing medical conditions
- Budget-friendly policies
- Covers outdoor activities
- Automatic claims for delayed flights
Cons
- Slow response rate
- Offers only standard-level benefits
Etiqa Insurance provides standard coverage for travelers, but with some twists.
For instance, one of its policies covers claims related to select pre-existing medical conditions. We find this feature impressive, as many insurance companies aren’t willing to offer the same.
We also like that the company provides automatic claims approval for 3-hour flight delays. It saves us the effort of applying for one claim, after all.
Other than that, Etiqa has pretty much the same standard benefits offered by others, so it’s not that unique.
That said, we think the company policy’s affordability and outdoor activity coverage are ideal for adventurous budget travelers.
As for the claiming process, it’s a bit disappointing that Etiqa seems to be busy most of the time to the point that a client’s concern will take months before it gets resolved.