MSIG Travel Insurance: What's the Deal?

MSIG
MSIG

MSIG Travel Insurance: What's the Deal?

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. 

Good for

  • Travellers seeking a good deal on an annual policy, especially for trips within ASEAN
  • People seeking some coverage for golf equipment and other golf or entertainment-related expenses

Bad for

  • Below average to average coverage for relatively high prices
  • Tend to be outshone by stronger alternatives that offer better value for money

Editor's Rating

3.5/5.0

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 PlanElite PlanPremier 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

Table of Contents

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.

This graph compares the price of all the major travel insurance policies in Singapore for a 1-week trip in the ASEAN region in order to help consumers find the cheapest travel insurance for their trip.

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.

Notable Exclusions

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 ExclusionsTrip Inconvenience Exclusions
Pre-existing conditionsParticipation in professional or compensated sports
Mental disorders and suicideItems taken by customs officials
Unnecessary dental expensesItems left unattended in a public place
Pregnancy-related events unless mother is at riskTravelling to a country at war
Travelling when medically unfitClaims paid for by other insurers

Sports Coverage

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.

Golf CoverStandardElitePremier
Equipment Damage or Loss (except in use)N/AS$1,000S$1,500
Unused Green FeeN/AS$500S$750
Hole-in-OneN/AS$500S$750

Claims Information

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.

Contact Information
Customer Service(65) 6827 2548
24-Hour Emergency Assistance(65) 6323 8288
Address4 Shenton Way #21-01 SGX Centre 2, Singapore 068807
ClaimsOnline

MSIG Travel Insurance Details

MSIG
MSIG

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.

StandardElitePremierIndustry Average
1-Week ASEANS$25.50S$32S$43.25S$42.09
Annual ASEANS$178.50S$242.25S$340S$251.11
1-Week AsiaS$30S$40.25S$58.75S$50.11
Annual AsiaS$216.75S$280.50S$382.50S$266
1-Week GlobalS$41.25S$51.75S$72.25S$70.25
Annual GlobalS$306S$382.50S$510S$353.87
1 Week ASEAN Value Ratio0.650.951.210.86
Annual Global Ratio0.460.680.880.87
Coverage BenefitsStandardElitePremierIndustry Average
Personal Accident & DeathS$150,000S$200,000S$500,000S$828,790
MedicalS$250,000S$500,0001,000,000S$312,325
Emergency Medical & RepatriationS$500,000S$1,000,000S$1,000,000S$767,647
Trip CancellationS$5,000S$10,000S$15,000S$12,937
Trip DelaysS$500S$1,000S$1,500S$1,327
Baggage Loss DamageS$3,000S$5,000S$7,000S$5,923
Baggage DelayS$600S$1,000S$1,500S$1,195

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