For a nation that's known for being "kiasu" (afraid to miss out or lose), Singaporeans are surprisingly unfazed about how important travel insurance is. We either buy it before a trip without much consideration, or not even buy it at all.
In order to get adequate protection and peace of mid for your next holiday, here's how to level up your "kiasu-ness" when buying travel insurance and handling claims:
1. Get It in Black and White
Do you hear this phrase in the office all the time? Start paying attention, because it's just as important to keep a paper trail for your insurance and document important events and information.
If you need to change or cancel your travel plans due to an illness, make sure you get a written confirmation from a doctor to confirm that your illness was serious enough to warrant changing your travel plans. Lost your luggage? Keep calm and get written confirmation from the airline you flew with or obtain a police report.
If you've damaged your belongings while taking public transport overseas, get a Damage Irregularity Report from the transport operator. For overseas robberies or lost items, file a police report immediately and have it translated when you submit your claims. Pro tip: try to obtain the receipt or credit card statement showing the cost of your lost or damaged items. This ensures you get compensated fairly, even when insurers have to apply a depreciation rate on your items.
2. Say No to Procrastinating
We've all done it. It's pretty harmless to procrastinate studying for exams, but it's a whole other matter to procrastinate tasks related to insurance claims.
Don't get complacent just knowing that you have coverage - not taking extra note of the requirements could be costly mistake. For example, when filing claims, TravelEasy® customers are advised to seek medical treatment within 72 hours of returning to Singapore, to qualify for medical coverage if the injury or illness wasn't treated overseas. Similarly, for lost or stolen items, your police report must be made within 24 hours upon discovery or theft.
3. Understand Your Coverage
This sounds obvious enough, but understanding your coverage is much more than just knowing what you're covered for. Before buying the policy, take 10 minutes of your time to properly understand the parameters of your coverage.
For example, don't just buy a policy because it has flight delay coverage - find out how many hours of delay it covers first! If you're considering an uncommon travel destination, don't be too quick to assume your policy covers all countries. Check the list of countries covered first and if there are any known events currently affecting coverage.
It's great that your policy covers lost belongings, but that doesn't mean everything you own is covered. Refer to your policy document for an extensive list of specific possessions that are covered and the maximum amount it will pay for.
Lastly, get your definitions right! For policies covering "adventurous activities", find out what exactly that entails. For example, if you're climbing a mountain, your coverage may only extend up to a certain height.
Buying travel insurance is a good first step in taking care of yourself. So take it one step further by understanding the policies you buy, in order to fully maximise its benefits.
Voted Best Overall Value for Travel Insurance in Singapore 2019 by Seedly, TravelEasy comes with extensive coverage for a wide range of needs: cancelled and delayed flights, loss and damage of belongings and medical expenses. You also enjoy access to a 24-hour emergency helpline that can also advise you in a medical emergency. Find out more here.