SINGAPORE – As many prepare to escape the hustle and bustle of work and school this festive season, several beloved travel destinations have recently faced life-threatening natural disasters. Locations like Japan, Thailand, and Taiwan, famous for their winter holidays and street food, have seen deadly earthquakes this year.
Recent Natural Disasters
- Japan: A 7.6-magnitude earthquake struck central Japan on New Year’s Day, claiming more than 200 lives.
- Taiwan: In April, Taiwan experienced its biggest earthquake in 25 years, resulting in nine fatalities and around 1,000 injuries. A Singaporean couple is still unaccounted for since then.
Importance of Travel Insurance
With the ongoing trend of climate change causing extreme weather events, the General Insurance Association of Singapore (GIA) urges travellers to secure comprehensive insurance before heading abroad. Industry experts emphasise that adequate coverage is crucial for unexpected medical needs.
Medical Claims on the Rise
According to Jeremy Lian, MSIG’s senior vice-president of technical services, medical expenses ranked within the top three claims reported by travellers in 2023. The costs associated with urgent medical treatment can be staggering, leading some travellers to resort to crowdfunding for overseas medical expenses.
What to Look for in Your Policy
As you prepare for your travels, here are key points to consider regarding travel insurance:
- Know Your Coverage: Policies may not cover ‘known events’, which include incidents publicly reported or advised against before your policy purchase. Purchasing after a known event means no coverage for related claims.
- Policy Benefits: Be mindful of the benefits, limits, exclusions, and conditions of your policy. Consider specific needs, such as coverage for winter or water sports if applicable.
- Pre-existing Conditions: If you have a pre-existing medical condition, premiums may be higher. It’s worth addressing these specifics with your insurer.
- Plan Early: Policies can be purchased up to 180 days in advance. Early purchase can cover you for unforeseen events such as trip cancellations.
Reviewing Your Policy
Take time to review your insurance policy thoroughly to ensure it meets your needs for your travels. Contact your insurer for clarification on any confusing aspects to avoid unpleasant surprises down the road.