Like many other insurers in Singapore, MSIG offers a three-pronged suite of travel insurance plans to help you make sure your travel plans aren’t disrupted by accidents or mishaps. With its Standard, Elite and Premier Plans representing the budget, mid-tier and premium categories, does MSIG offer a package worth buying? Our team at ValueChampion took an in-depth look at MSIG’s travel insurance plans to help you answer that question.
Summary of MSIG Travel Easy Travel Insurance
|Standard Plan||Elite Plan||Premier Plan|
|Below average to average coverage for relatively high prices|
|Best deals can be found in MSIG’s annual policies, especially for trips within ASEAN|
|High value option for family and group travel|
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MSIG Travel Insurance: What You Need to Know
MSIG’s cheapest travel insurance plan, the Travel Easy Standard, as well as the mid-tier Elite Plan are difficult policies to recommend due to their tendency to cost more than the average while providing lackluster coverage that is not quite up to the industry standard. The Standard and Elite plans’ coverage for personal accident, medical, and general trip inconvenience all fall below the market average for budget and mid-tier travel insurance plans. The premium-tier Premier plan fares only slightly better, generally tending to provide an average level of coverage—but still for rather high prices.
If you don't care about price, MSIG can offer some notable perks in its coverage that are rarely seen all together in other plans. This includes golf coverage and adventure coverage. Additionally, there are some perks that some consumers can find useful, such as wedding items coverage, passive war medical coverage, terrorism cover and pet care coverage. If you tend to travel with your foreign domestic worker, there is also coverage if something happens to her belongings. However, all of these perks are offered only for the Premier and Elite plan, which can price out those who are looking for budget plans.
Only in a few isolated cases, such as for annual trips within the ASEAN region, do MSIG’s travel insurance plans offer a competitive price based on the amount of coverage provided. In our opinion, for the vast majority of travellers seeking a good deal on travel insurance or good value for their money, you would be better served by plans that simultaneously offer better coverage for less money such as AXA Essential or Allianz Global Assistance Bronze from the budget-tier category, Aviva Travel Elite or Allianz Global Assistance Silver from the mid-tier category, or DirectAsia Travel 500 or the top-tier offerings from Aviva and Allianz Global Assistance from the premium category.
MSIG has standard medical and trip/baggage related exclusions. You can't claim for pre-existing conditions, mental disorders, pregnancy related expenses and you can't file any claims if you are travelling for medical purposes. Additionally you will not be covered if you are travelling to compete in professional sports, will do any kind of manual work or will be going on expeditions. You should always double check the policy wording to make sure you know exactly what events you will be covered for.
|Medical Exclusions||Trip Inconvenience Exclusions|
|Pre-existing conditions||Participation in professional or compensated sports|
|Mental disorders and suicide||Items taken by customs officials|
|Unnecessary dental expenses||Items left unattended in a public place|
|Pregnancy-related events unless mother is at risk||Travelling to a country at war|
|Travelling when medically unfit||Claims paid for by other insurers|
You are covered for adventurous activity including bungee jumping, skydiving, paragliding, hot air ballooning, jet skiing, white water rafting, diving and general snow sports (skiing, snowboarding). There is also decent golf coverage for equipment, unused green fees, and hole-in-one. However, you will only get the adventure cover and golf cover for Elite and Premier plans.
|Equipment Damage or Loss (except in use)||N/A||S$1,000||S$1,500|
|Unused Green Fee||N/A||S$500||S$750|
To submit a claim with MSIG, you can either submit the claim online or download and mail the claim form. For both options you need to have all the appropriate documentation. If you are claiming for loss or damaged items, you have to make a police report within 24 hours of the event and request a copy for your claim submission.
|Customer Service||(65) 6827 2548|
|24-Hour Emergency Assistance||(65) 6323 8288|
|Address||4 Shenton Way #21-01 SGX Centre 2, Singapore 068807|
MSIG Travel Insurance Details
It is important to make sure that you are getting the right coverage for your next trip, and that you're not overpaying for coverage. Below, you'll find a summary of MSIG's benefits and premiums, as well as how they compare to the industry average. If you would like to compare MSIG to other plans on the market, you can read our top picks of the best travel insurance policies in Singapore here.
|1 Week ASEAN Value Ratio||0.65||0.95||1.21||0.86|
|Annual Global Ratio||0.46||0.68||0.88||0.87|
|Coverage Benefits||Standard||Elite||Premier||Industry Average|
|Personal Accident & Death||S$150,000||S$200,000||S$500,000||S$828,790|
|Emergency Medical & Repatriation||S$500,000||S$1,000,000||S$1,000,000||S$767,647|
|Baggage Loss Damage||S$3,000||S$5,000||S$7,000||S$5,923|