Chubb Travel Insurance: Is it a Good Deal?

Chubb Travel Insurance: Is it a Good Deal?

With lackluster coverage and expensive premiums for most of its plans, it'll be difficult for the budget or deal-seeking consumer to find good value with Chubb's travel insurance.

Good for

  • Wealthy consumers who like customisation
  • Those looking for comprehensive top-tier plans

Bad for

  • Those looking for budget or high-value plans
  • Cost-restrained sports enthusiasts
  • Those looking for all-inclusive plans

Editor's Rating

3.0/5.0

As one of the most expensive plans on the travel insurance market, Chubb prices out cost-conscious consumers. Not only that, Chubb tends to separate out certain benefits like car rental excess and adventure sports cover as pricey optional add-ons, while they are typically included in other insurer's plans. With its above average price and below average coverage , it is hard to recommend this plan for travellers looking for cheap or comprehensive plans.

Summary of Chubb Travel Insurance

SaverEconomyBusinessFirst
Only for trips to Malaysia, Batam Island and Bintan IslandSubpar coverage and low valueAbove average price but above average coverage
Many optional add-ons for golf, wedding, lifestyle and adventure sports

Table of Contents

Chubb Travel Insurance: What You Need to Know

Chubb's travel insurance policies are expensive and due to their coverage they offer, making the insurer less than ideal for consumers looking for high-value or budget plans. Its four policies, Saver, Economy, Business and First, give you options to purchase individual, family and group plans as either single trip or annual policies. Saver is the cheapest plan, and is only offered to travellers who are going to Malaysia and the Batam/Bintan Islands.

This graph shows the cheapest travel insurance premiums for a 1-week trip to the ASEAN region

If you are looking for a plan that has the potential to cover everything, whether or not you have to pay extra, Chubb could come in handy. This is because it lets you add a plethora of optional add-ons, including winter sports, adventure sports, additional belongings and medical cover. These optional protections offered are the same from the Saver Plan up to the First plan (which then doubles the coverage), a notable perk since most other insurers only provide meaningful options for their premium plans. However, it is also worth mentioning that you can find plans that offer the same add-ons for much cheaper, with some insurers even including these benefits as part of their core plan as a default.

Chubb will not work for those who looking for a great deal or for all-inclusive basic or mid-tier policies, as the coverage is quite subpar compared to the premium charged. Chubb also tends to change its pricing depending on when you purchase your policy, so you may not even know that you aren't getting the cheapest price. From our research, we noticed that the farther in advance you book your travel insurance, the more you pay. This means that, to get the best deal, you have to book as close as possible to your departure date, or you can expect a several dollar increase in your premium for every month in advance you book.

Notable Exclusions

Like most insurers, Chubb doesn't cover injury or death related to war, pre-existing conditions, pregnancy-related medical expenses (unless indirect injury), extreme sports and has certain limitations as to what kind of claims you can make for item or baggage loss.

Medical ExclusionsTrip Exclusions
Injury due to war/riotDamage to fragile items
Pregnancy-related expensesDamage of art, musical instruments, antiques
Extreme sports without guide (unless add-on is purchased)Items retained by customs
Prosthetics, dentures, contact lensesItems left unattended
Travel booked against advice of doctorTrip cancellation due to financial reasons

Chubb Saver & Economy Plans

If you are travelling to Malaysia or the Batam/Bintan Islands, you can opt for Chubb's S$14 Saver plan, which will provide basic coverage of S$50,000 for death and disablement, S$20,000 for medical expenses, S$1,000 in loss of baggage and S$20,000 for emergency medical evacuation. This could be a good deal if you are going for a week long vacation and want basic coverage for a cheap price. However, you can only purchase the Saver plan as a single-trip policy, so if you travel to that region frequently, you can save money by opting for Budget Direct, which has the cheapest annual ASEAN plan on the market.

Chubb's Economy plan costs around S$44.50 for a 1-week ASEAN policy when purchased about a month or less in advance (the premiums increase the farther ahead you book your policy). It exhibits quite low value as it costs around 30% more than the average basic plan for the same trip, while having below average coverage for medical, trip inconvenience (baggage loss, trip delay, etc.) and personal accident expenses. If you need to purchase an add-on to protect yourself from sports activities, the premium can increase up to S$57, making this plan suboptimal for cost-conscious sports enthusiasts or those looking for a great value plan. For these consumers, we'd recommend checking out either FWD for cost saving or Allianz for comprehensive and high-value policies.

Chubb Travel Insurance Business & First Plans

For a policy that's one of the most expensive on the market at S$58 for a 1-week ASEAN plan and S$367 for an annual ASEAN plan (30-50% more expensive than its peer average), the Business plan won't give consumers their money's worth. With S$500,000 of medical, S$200,000 of personal accident and S$17,000 of trip inconvenience coverage, its coverage is lackluster as it's below or barely average compared to other mid-tier plans across the board. Instead, there are much cheaper basic plans like AXA that offer even higher coverage across the board. Not only that, you can find cheaper top-tier plans that offer either higher medical or trip inconvenience coverage, like FWD's First plan. Thus, it would be difficult for us to recommend this plan to consumers who want either comprehensive coverage or a cost-efficient plan.

If you are adamant about Chubb being your insurer, you should consider its First Plan as it will give you the greatest value out of the four plans. For instance, Chubb First Plan's coverage is actually somewhat commensurate with its cost. However, compared to other insurers, it still doesn't fare well due to premiums that are 50-70% more expensive on average for both single and annual trips. Though it has above average coverage compared to other top-tier plans with S$2,000,000 in medical, S$31,200 in trip inconvenience and $500,000 in personal accident coverage, there are other insurers that charge lower for similar amounts, such as Aviva. In theory, consumers who want maximum protection and are willing to pay to customise their policy can find some value in this policy, but it is hard to justify the additional prices since some of the optional coverage offered for additional fees, while they tend to be included in other insurer's plans as default (like frequent flyer points and adventure sports covers).

Chubb Travel Insurance Sports Coverage

Chubb does have quite comprehensive sports coverage with cover available for skiing, golf expenses and adventure sports (trekking up to 4,000 meters and 4-wheel driving) medical expenses. However, as you move from Saver to First plans, or add covers to annual policies, the add-on costs drastically increase up to hundreds of dollars. The tables below summarize Chubb's sports coverage.

Skiing CoverageSaverEconomyBusinessFirst
Ski EquipmentS$2,500S$2,500S$2,500S$5,000
Piste ClosureS$50/dayS$50/dayS$50/dayS$100/day
Unused ski equipment, lift passes, ski schoolS$500S$500S$500S$1,000
Replacement of ski or lift passS$250S$250S$250S$500
Additional Cost (annual trip)N/AS$76.50-S$98S$92-S$125.50S$134.50-S$189.50
Additional Cost (single trip)S$2S$4.50-S$17S$5.50-S$21S$6.50-S$25.50
Golf CoverageSaverEconomyBusinessFirst
Golf EquipmentS$500S$500S$500S$1,000
Hole-In-OneS$500S$500S$500S$1,000
Unused Green FeeS$500S$500S$500$1,000
Additional Cost (annual trip)N/AS$76.50-S$98S$92-S$125.50S$134.50-S$189.50
Additional Cost (single trip)S$2S$4.50-S$17S$5.50-S$21S$6.50-S$25.50
Adventurous Sports Medical CoverageSaverEconomyBusinessFirst
Winter Sports (not skiing)S$100,000S$100,000S$100,000S$200,000
Water Sports
Biking Sports (i.e. mountain biking)
Outdoor sports (i.e. trekking up to 4,000)
Additional Cost (annual trip)N/AS$122.50-S$156.50S$147-S$200.50S$215.50-S$303.50
Additional Cost (single trip)S$5S$10.50-S$13S$12.50-S$15.50S$18.50-S$23.50

Claims Information

Chubb's claims process is completed online, where you'll have one 20-minute session to submit all your claims. If you are filing a medical claim, you must submit a claim with your health provider beforehand. You have 24 hours to report personal effects/baggage loss or damage for theft claims to be valid. For any other incident, you have 30 days to file and submit your claim. Before you submit anything, make sure you know which documents are required. If you think you won't have enough time to submit your claim, Chubb also offers a pdf form which you can use to file by mail.

Contact Information
Customer Service Phone Number (9am-5pm Mon-Fri)(65) 6398 8776
24-Hour Emergency Assistance Hotline(65) 6836 2922
AddressChubb Insurance Singapore Limited, 138 Market Street Level 11-01, CapitaGreen Singapore 048946
ClaimsWebsite

Chubb Travel Insurance Benefits & Coverage Summary

Chubb Insurance

While buying travel insurance is recommended to prevent unnecessary monetary loss due to forces outside of your control, it is important to make sure you don't settle on the first policy you see. Either you may end up paying too little and not getting enough coverage, or you may end up grossly overpaying for benefits that are covered for cheaper with other insurers. Below, you'll find the price and coverage summary for Chubb as well as how it compares to the competition. If you would like to read our top picks for travel insurance, you can read our guide to the best travel policies in Singapore.

SaverEconomyBusinessFirstIndustry Average
1-week ASEANS$14.50S$44.50S$58S$78S$42.09
1-week AsiaN/AS$46.50S$60S$81S$50.11
1-week GlobalS$N/AS$82.50S$118S$146S$70.25
Annual ASEANN/AS$306S$367S$538S$251.11
Annual AsiaN/AS$306S$367S$538S$264.38
Annual GlobalN/AS$391S$501.50S$758S$353.87
1-week ASEAN Ratio0.620.380.52940.86
Annual Global Value RatioN/A0.340.500.830.81
Coverage & BenefitsSaverEconomyBusinessFirstIndustry Average
MedicalS$20,000S$250,000S$500,000S$2,000,000S$832,556
Personal AccidentS$50,000S$150,000S$200,000S$500,000S$318,802
Emergency Medical EvacuationS$500,000UnlmtdUnlmtdUnlmtS$767,647
Trip CancellationS$5,000S$5,000S$10,000S$20,000S$12,937
Trip DelaysS$400S$800S$1,000S$2000S$1,327
Baggage Loss/DamageS$1,000S$3,000S$5,000S$8,000S$5,923
Baggage DelayS$400S$800S$1,000S$1,200S$1,195

Comments and Questions

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