As an avid traveller, you’re always looking for ways to keep the price of your trips affordable. Travel insurance is an unavoidable expense as it is essential to ensure you stay safe as you travel.
However, there are certain tips and tricks that can help you keep your travel insurance premiums low without compromising on quality, such as the following.
Family plans
When you travel as a family, expenses are multiplied, and the cost of protecting everyone with travel insurance is no exception.
One money-saving tip is to look out for plans that can be purchased as a family rather than as an individual. This lowers your overall cost compared to if you were to buy separate travel insurance plans for each member of the family.
For instance, HL Assurance’s Travel Protect360 plans can be purchased as a family. You and your spouse can choose to buy the plan as a couple, and can also add up to four children. Buying travel insurance as a family is more economical and enables you to avoid paying for duplicated benefits.
Annual policies
Frequent travellers can end up spending a considerable amount on travel insurance. If you travel more than a few times a year, it might make more financial sense to purchase an annual policy instead of single-trip policies.
At HL Assurance, all three tiers of Travel Protect360, namely Basic, Enhanced and Superior, can be purchased as annual plans.
For a one-time premium at the beginning of your plan, you’ll enjoy travel insurance coverage for a whole year. At the end of the year, simply renew your plan to enjoy an additional year of protection.
No Claim Discount
While travel insurance is essential for peace of mind on any overseas holiday, if all goes well on your trip, you generally do not need to make claims. A travel insurance plan that offers a no claims discount enables you to enjoy lower premiums on subsequent trips so long as you do not make a claim.
HL Assurance is currently the only insurer in Singapore that offers no claim discounts on travel insurance.
From 9 Sep 2019, 12pm to 31 Jan 2020, 12pm, purchase a single-trip or annual Travel Protect360 plan from HL Assurance and you will be eligible for a no claim discount on your next plan if you do not make a claim within 30 days after your trip ends.
Single-trip policyholders who do not make a claim will receive 5% off their next travel insurance premium and 10% on subsequent premiums for as long as they continue not to make claims. Meanwhile, annual travel insurance policyholders will receive 10% off their premiums when they renew their policy at the end of the year if no claims have been made.
HL Assurance Travel Protect360 lets you put into practice all of the above tips in order to enjoy the cheapest travel insurance premiums possible. Compare travel insurance plans and find out about the latest travel insurance promotions on our website.
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