Why Travel Insurance Can Easily Be A Waste Of Money

Yes, you are reading it correctly. Travel Insurance – and in particular cheap Travel Insurance – can be a complete waste of money. Why? Because many people tend to cheap out and waste money on something that is not worth buying. It is unbelievable. Some Singaporeans spend thousands of dollars on a flight or holiday package and then try to save 10 bucks on their holiday insurance. Difficult to comprehend you think, but ever so true. Even with Travel Insurance being the cheapest type of insurance around, 9 out of 10 customers still buy the cheapest one they can find. Absurd? You bet! To put it differently, do you like to gamble with your life and wealth when travelling?

Amazingly, when people seek a hotel room they compare everything on every platform. The rooms, the facilities, the locations, the Wi-Fi, the breakfast, the views and the reviews, you name it and customers compare it. After all that comparison, they make a balanced, well-informed choice and try to optimise for price and the comfort level they are seeking. Well done!

Comparing will be worth your while

So now we wonder why our bargain hunters often do not do the same for Travel Insurance and just go for the cheapest… Cheap is usually not good. Cheap policies often have lots of exclusions and conditions. Therefore, it may be a really good investment to pay attention to the small print and the terms and conditions.

We make it super convenient for you to compare and know your coverage

Too much trouble? Not really anymore, because that is what Singaporean websites like Insurance Market are for. It may not look so complex, but behind the simple website, we have huge algorithms running and conditional search paths that guide you to the right insurance for your needs. We make sure that we find a Singapore policy that first meets your requirements and when we have that sorted out, then we look at price and you can choose a coverage level you are comfortable with, with a price tag that may not be the cheapest, but that will give you the best value for money.

How to compare and get the best deal

So, next time you go on your trip, we recommend you spend a few minutes and have a look at what you are buying. Compare some of the policies side-by-side and spend a few extra bucks to avoid your trip becoming a nightmare. Look whether your insurance company provides 24/7 SOS help and what medical expenses are covered. We have plenty of stories of Singaporeans that have regretted buying cheap policies and luckily also good ones that have generously benefitted from the small investment that they made before they left. Read on how someone got really sick in Hong Kong and how the Insurance Company helped her out. Particularly medical coverage is not to be taken lightly. Material matters can be replaced. Your physical and mental health sometimes cannot.

Do you gamble with your life and wealth when traveling?

It is not our intention to scare you. Or maybe it is a little. But all jokes aside; Travel Insurance is a serious matter. Just like you, we hope that it was a waste of money because you did not need it, but that is a gamble that you may not be able to afford as Singaporean!

So, when you travel next time, check out Insurancemarket.sg Not only for Travel but also other Personal Insurances as well. At Insurance Market, we take your insurance seriously and want to provide you with what you really need. We want to see you happy, healthy and well covered for when your happiness comes under threat.

  • Get discounts the moment they are live
  • Save time due to autofill of your info
  • 24/7 access to your policies online
  • Control your spend on insurances
  • We are based in Singapore
  • All your information is safe and secure

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  • Get discounts the moment they are live
  • Save time due to autofill of your info
  • 24/7 access to your policies online
  • Control your spend on insurances
  • We are based in Singapore
  • All your information is safe and secure