Here's why you need to buy travel insurance upon confirming your holiday

Many of us are guilty of leaving travel insurance at the bottom of our to-do list upon confirming our holiday plan. But did you know that it’s best practice to buy your travel insurance immediately after booking your flights and accommodation?


Here are five reasons why you should buy travel insurance early.


#1 If you wait until an unforeseen event, like a typhoon, to hit before you get a plan, you probably won’t get coverage for losses due to the storm

Videos and articles about the Hong Kong protests are all over our Facebook news feeds. If you had purchased travel insurance before the issue blew up, then good for you! Your insurer will probably cover your airfare and accommodation expenses if you decide to cancel your trip now. But if you’re still going ahead with your holiday to dim-sum land because you’re sure you won’t be anywhere close to the main protest areas, you should still get travel insurance to protect you against the costs of common ailments such as the flu or stomach upset which can happen. It’s important to note that any claims arising directly or indirectly due to the protests (or such political events) will not be covered by the insurer.

P.S.: Aviva’s Travel Prestige plan allows trip cancellation for any reason, so you’ll get compensated 50% of what you’ve paid for any unused flight tickets, accommodation and entertainment tickets.


#2 It gives you coverage should an airline, hotel or travel agency go bust

So you’re all set for your holiday but you have just read a report that your travel agency has gone bust? Travel insurance protects you against such circumstances but again, you’re protected only if you purchase the insurance before the news hits the local papers.


#3 You can get a refund of travel expenses even if you fall ill before your trip

If you think that travel insurance only covers your illness-related expenses only if you fall ill overseas, you’re wrong. Should you fall sick before your trip and are too weak to travel, your doctor’s memo is enough for the insurer to give you a refund of expenses you’ve incurred for your trip.


#4 To secure full coverage and maximise your money

For most insurers, there’s likely a cut-off date for you to secure full coverage. For example, in order to utilise the benefit of Aviva's trip cancellation for any reason, you’ll have to purchase travel insurance within 7 days upon payment of your flight or accommodation. Therefore, your best bet is to have a good habit of insuring yourself after your trip confirmation!


#5 You won’t have to pay a higher price for it

Unlike airfare and accommodation prices which tend to fluctuate, the premiums for travel insurance are quite constant so you won’t lose out even if you purchase it earlier. In fact, if anything happens, you’ll be thankful that you did!

Get a travel quote from Aviva in less than 5 minutes.

Receive monthly updates

Subscribe to Money Banter to receive useful tips and guides on insurance and offers on products and services.

Sorry, there seems to be a problem with this page. Please refresh and try again in a few minutes.

Thank you for your submission. 

Please enable javascript on your internet browser in order to use this form

By clicking “Submit”, you consent to Aviva and Aviva related companies contacting you to provide you with information concerning Aviva and Aviva related companies’ products and services and special offers which may be of interest to you. For details of Aviva’s Data Protection Policy, please refer to https://www.aviva.com.sg/en/pdpa/. To withdraw your consent at any time, please call Aviva at +65 6827 7988. 

Important Information

Money Banter (the "Portal") is for general information only and does not take into account the specific investment objectives, financial situation and needs of any particular person. The contents of this Portal are intended merely for educational purposes and should not be construed as the giving of advice or the making of a recommendation. Nothing contained in this Portal shall constitute a distribution, an offer to sell or the solicitation of an offer to buy. We recommend that you discuss any specific matters with your financial adviser representative or legal adviser before making any decision. This Portal may include information sourced from third parties and links to third party websites. We are not responsible for the accuracy or completeness of, and do not recommend or endorse such information or third party websites. While we have taken reasonable care to ensure that the information on this Portal has been obtained from reliable sources and is correct at time of publishing, information may become outdated and opinions may change. Except to the extent prohibited by any law, we are not liable for any loss (including direct, indirect and consequential loss, loss of profits, loss or corruption of data or economic loss of any kind) that may result from the access or use of the information on this Portal. | Terms of Use | Privacy Policy

This advertisement has not been reviewed by the Monetary Authority of Singapore.