Best Travel Insurance Promotions 2024

With so many travel insurance policies available, it's difficult to know when you're getting a great deal. To help you find the right policy for you, our insurance analysts compiled a list of travel insurers who offer the most lucrative promotions in Singapore.

Comparing Travel Insurers with the Best Ongoing Promotions

We analysed hundreds of premiums and benefits from dozens of car insurers in Singapore to find out insurers offer the best promotions to save you the most money.

Best Travel Insurance Promotion: FWD

  • Consider this if you are looking for a high value plan that can benefit you on any type of holiday
  • Promotion: Use code "TRAVEL25" for 25% off
  • Read our full review
Premium PlanBusiness PlanFirst Plan
1-Week Global Trip PremiumS$37.80S$48.60S$65.70
Annual ASEAN PremiumS$194.66S$277.31S$305.59
Trip CancellationS$7,500S$10,000S$15,000
Baggage Loss/DamageS$3,000S$5,000S$7,500
Medical ExpensesS$200,000S$500,000S$1,000,000
Premiums reflected are after discount is applied. Accurate as of 05/2023

FWD's travel insurance is a good option whether you're travelling alone, as a group or with a family due to its robust benefits and attractive prices that will appeal to a wide consumer base. FWD's 20-25% off promotions come on top of already competitive prices, which makes any of its 3 travel insurance plans great value options. Regardless of destination or trip duration, FWD's premiums end up 15-30% below average, while still providing coverage that extends beyond basic medical and trip inconvenience.

For instance, it includes coverage for loss of passport and money theft, travel agency insolvency and payment of rental car excess, as well as up to S$2,000 of coverage for your sports equipment that costs only an additional S$37.54.

Consider this if you are looking for a high value plan that can benefit you on any type of holiday
BenefitsLimitExtra CostExcess
1-Week Global Trip Premium37.8048.6065.70
Annual ASEAN Premium194.66277.31305.59
Trip CancellationS$7,500S$10,000S$15,000
Baggage Loss/DamageS$3,000S$5,000S$7,500
Medical ExpensesS$200,000S$500,000S$1,000,000

FWD's travel insurance is a good option whether you're travelling alone, as a group or with a family due to its robust benefits and attractive prices that will appeal to a wide consumer base. FWD's 20-25% off promotions come on top of already competitive prices, which makes any of its 3 travel insurance plans great value options. Regardless of destination or trip duration, FWD's premiums end up 15-30% below average, while still providing coverage that extends beyond basic medical and trip inconvenience.

For instance, it includes coverage for loss of passport and money theft, travel agency insolvency and payment of rental car excess, as well as up to S$2,000 of coverage for your sports equipment that costs only an additional S$8. Additionally, if you want some perks besides just a discount, FWD sometimes has special promotions that include vouchers for things such as CapitaVouchers.

Best Budget Travel Insurance: Etiqa Tiq

Etiqa Tiq Travel Insurance
Etiqa Tiq Travel Insurance
  • Consider this if you are choosing travel insurance based on affordability
  • Promotion: Use code "TAKE60" for up 40% off single trip plans
Entry PlanSavvy PlanLuxury Plan
1-Week Global Trip PremiumS$39.00S$51.00S$63.60
Annual ASEAN PremiumS$206.00S$293.00S$323.00
Trip CancellationS$5,000S$5,000S$10,000
Baggage Loss/DamageS$2,000S$2,000S$3,000
Medical ExpensesS$200,000S$500,000S$1,000,000
Premiums reflected are after discount is applied. Accurate as of 05/2023

Etiqa's Tiq travel insurance plans are a great option for people on a tight budget who are willing to sacrifice some, but not all, benefits in exchange for affordability. Before discounts, Etiqa's pricing is not necessarily competitive—in fact, its top tier Business Plan actually costs more than the industry average. However, Etiqa's is currently running a promotion of up to 60% off single trip plans which create plans that are some of the cheapest on the market.

In terms of coverage, you'll receive standard trip cancellation, delay, misconnection and curtailment coverage in addition to flight overbooking, personal belongings and bankruptcy of a travel agent. Though trip inconvenience and personal accident coverage is below average until you get to its Business Plan option, Etiqa's above average medical, hospital allowance, hospital visitation and emergency evacuation coverage may appeal to consumers who are looking for a medically-inclined budget plan.

Etiqa also has special travel insurance plans for those with pre-existing conditions, including diabetes, stroke, asthma, sleep apnea, cancer, epilepsy and more. Although the premiums are slightly more expensive, it provides an equal amount of coverage as it's non pre-existing condiiton plans. This means that those with pre-exisitng are still able to get good comprehensive coverage for their travels.

Etiqa Tiq Travel Insurance
Etiqa Tiq Travel Insurance
Consider this if you are choosing travel insurance based on affordability
  • Promotion: Use code "TAKE60" for up 40% off single trip plans
Entry PlanSavvy PlanLuxury Plan
1-Week Global Trip PremiumS$39.00S$51.00S$63.60
Annual ASEAN PremiumS$206.00S$293.00S$323.00
Trip CancellationS$5,000S$5,000S$10,000
Baggage Loss/DamageS$2,000S$2,000S$3,000
Medical ExpensesS$200,000S$500,000S$1,000,000

Etiqa's Tiq travel insurance plans are a great option for people on a tight budget who are willing to sacrifice some, but not all, benefits in exchange for affordability. Before discounts, Etiqa's pricing is not necessarily competitive—in fact, its top tier Business Plan actually costs more than the industry average. However, Etiqa's generous promotions 45% off (with an additional 10% off every Friday) and 35% off for Annual Trip plans create plans that are some of the cheapest on the market (around 35% below average).

In terms of coverage, you'll receive standard trip cancellation, delay, misconnection and curtailment coverage in addition to flight overbooking, personal belongings and bankruptcy of a travel agent. Though trip inconvenience and personal accident coverage is below average until you get to its Business Plan option, Etiqa's above average medical, hospital allowance, hospital visitation and emergency evacuation coverage may appeal to consumers who are looking for a medically-inclined budget plan.

Best Global Travel Insurance with Misc. Perks: HL Assurance

  • Consider this if you are looking to for cheap coverage for global destinations and hotel or rental car perks
  • Promotion: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
  • Read our full review
Basic PlanEnhanced PlanSuperior Plan
1-Week Global Trip PremiumS$49.20S$71.40S$94.80
Annual Asia (inc. ASEAN) PremiumS$189.50S$255.50S$350.00
Trip CancellationS$5,000S$7,000S$12,000
Baggage Loss/DamageS$3,000S$5,000S$7,000
Overseas Medical ExpensesS$150,000S$250,000S$500,000
Premiums reflected are after discount is applied. Accurate as of 05/2023

If you are looking to travel outside of the ASEAN region, HL Assurance's travel insurance plans are great for the budget global traveller. The 40% off Single Trip plan and 50% off Annual Trip plan promotion makes the HLAS Enhanced Plan's premiums 42% below average for global trips. However, while coverage isn't the highest compared to its more expensive peers, it does provide robust trip inconvenience and medical coverage compared to plans in a similar price point. For example, there is coverage for lost items, trip curtailment, postponement, cancellation and delays, as well as rental car excess (the excess you owe if you get into a car accident abroad), medical expenses and hospital cash benefit both abroad and back in Singapore. HL Assurance's travel insurance also boasts extensive COVID-19 coverage where you can be reimbursed up to S$1,500 if you have to be quarantined overseas. You are also able to make changes to your coverage should your holiday need to be cancelled due to you or a family member contracting COVID-19.

Another perk that customers might find useful is that HL Assurance gives customers a no claims discount. If you do not make any claims from your travel insurance, you are eligible to get 10% off your next travel insurance purchase with them, on top of any promotions running at the time.

Consider this if you are looking to for cheap coverage for global destinations and hotel or rental car perks
  • Promotion: Purchase a travel policy and stand a chance to win a flight ticket to a destination of your choice
  • Read our full review
Basic PlanEnhanced PlanSuperior Plan
1-Week Global Trip PremiumS$46.40S$61.60S$00.00
Annual Asia (inc. ASEAN) PremiumS$204.00S$224.80S$00.00
Trip CancellationS$5,000S$7,000S$12,000
Baggage Loss/DamageS$3,000S$5,000S$7,000
Overseas Medical ExpensesS$150,000S$250,000S$500,000

If you are looking to travel outside of the ASEAN region, HL Assurance's travel insurance plans are great for the budget global traveller. The 40% off Single Trip plan and 50% off Annual Trip plan promotion makes the HLAS Enhanced Plan's premiums 42% below average for global trips. However, while coverage isn't the highest compared to its more expensive peers, it does provide robust trip inconvenience and medical coverage compared to plans in a similar price point. For example, there is coverage for lost items, trip curtailment, postponement, cancellation and delays, as well as rental car excess (the excess you owe if you get into a car accident abroad), medical expenses and hospital cash benefit both abroad and back in Singapore. HL Assurance's travel insurance also boasts extensive COVID-19 coverage where you can be reimbursed up to S$1,500 if you have to be quarantined overseas. You are also able to make changes to your coverage should your holiday need to be cancelled due to you or a family member contracting COVID-19.

Another perk that customers might find useful is that HL Assurance gives customers a no claims discount. If you do not make any claims from your travel insurance, you are eligible to get 10% off your next travel insurance purchase with them, on top of any promotions running at the time.

Best Trip Inconvenience Coverage: Allianz Travel

  • Consider this if you want to maximise travel inconvenience coverage
  • Promotion:
  • Read our full review
Bronze PlanSilver PlanPlatinum Plan
1-Week Global Trip PremiumS$85.20S$118.80S$154.20
Annual Asia (inc. ASEAN) PremiumS$259.20S$358.80S$501.00
Trip CancellationS$10,000S$15,000S$25,000
Baggage Loss/DamageS$3,000S$5,000S$7,000
Medical ExpensesS$200,000S$500,000S$1,000,000
Premiums reflected are after discount is applied. Accurate as of 05/2023

For those who are looking for a combination of affordability and value with a focus on trip and baggage coverage, Allianz Travel can be a great match.

What makes these plans stand out is that they exhibit very high value with their generous trip inconvenience coverage. In fact, these plans consistently have the highest trip inconvenience coverage trip cancellation, baggage loss/delay and trip delay coverage) among their peers. If you tend to travel with valuable belongings or you are concerned with sudden changes to your trip itinerary, Allianz Travel plans can provide maximum peace of mind in that area. However, it does lag behind peers in terms of personal accident coverage.

Consider this if you want to maximise travel inconvenience coverage
Bronze PlanSilver PlanPlatinum Plan
1-Week Global Trip PremiumS$85.20S$118.80S$154.20
Annual Asia (inc. ASEAN) PremiumS$259.20S$358.80S$501.00
Trip CancellationS$10,000S$15,000S$25,000
Baggage Loss/DamageS$3,000S$5,000S$7,000
Medical ExpensesS$200,000S$500,000S$1,000,000

For those who are looking for a combination of affordability and value with a focus on trip and baggage coverage, Allianz Travel can be a great match.

What makes these plans stand out is that they exhibit very high value with their generous trip inconvenience coverage. In fact, these plans consistently have the highest trip inconvenience coverage trip cancellation, baggage loss/delay and trip delay coverage) among their peers. If you tend to travel with valuable belongings or you are concerned with sudden changes to your trip itinerary, Allianz Travel plans can provide maximum peace of mind in that area. However, it does lag behind peers in terms of personal accident coverage.

High Value Travel Insurance for Families: MSIG

  • Consider this if you often go on family vacations and are shopping based on coverage rather than price
  • Promotion:
  • Read our full review
StandardElitePremier
1-Week Global Trip PremiumS$72.90S$93.00S$125.10
Annual Family ASEAN PremiumS$231.20S$319.20S$447.20
Trip CancellationS$5,000S$10,000S$15,000
Baggage Loss/DamageS$3,000S$5,000S$7,500
Overseas Medical ExpensesS$250,000S$500,000S$1,000,000
Premiums reflected are after discount is applied. Accurate as of 05/2023

If you tend to go on vacation with your family often, MSIG's travel insurance plans can offer you some of the highest levels of coverage available. MSIG is running a Chinese New Year promotion of 45% off for Single Trip plans and 25% off for Annual Plans until 5 Feb 2023. Though it's not the most competitively priced insurer, MSIG offers many family-friendly benefits such as cover for adventurous activities, haze-related events, unused entertainment tickets (to theme parks, performances, concerts and sporting events) and even your domestic worker's belongings. These benefits are in addition to the above market average standard trip inconvenience and medical benefits, so you can be sure that your family will be receiving quite extensive coverage for maximum peace of mind.

Consider this if you often go on family vacations and are shopping based on coverage rather than price
StandardElitePremier 1-Week Global Trip PremiumS$72.90S$93.00S$125.10
Annual Family ASEAN PremiumS$231.20S$319.20S$447.20
Trip CancellationS$5,000S$10,000S$15,000
Baggage Loss/DamageS$3,000S$5,000S$7,500
Overseas Medical ExpensesS$250,000S$500,000S$1,000,000

If you tend to go on vacation with your family often, MSIG's travel insurance plans can offer you some of the highest levels of coverage available. The current promotion of 50% off for Single Trip plans and 20% off for Annual Plans create premiums that are around 15-30% below average for single trip plans and 10-15% below average for annual plans. Though it's not the most competitively priced insurer, MSIG offers many family-friendly benefits such as cover for adventurous activities, haze-related events, unused entertainment tickets (to theme parks, performances, concerts and sporting events) and even your domestic worker's belongings. These benefits are in addition to the above market average standard trip inconvenience and medical benefits, so you can be sure that your family will be receiving quite extensive coverage for maximum peace of mind.

Anastassia Evlanova

Anastassia is a Senior Research Analyst at ValueChampion Singapore, evaluating insurance products for consumers based on quantitative and qualitative financial analysis. She holds degrees in Economics and International Business Management and her prior working experience includes work in the capital markets sector. Her analyses surrounding insurance, healthcare, international affairs and personal finance has been featured on AsiaOne, Business Insider, DW, Vice, Her World, Asia Insurance Review, the Australian Institute of International Affairs and more.

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