Tuesday, April 24, 2007

Shopping for Travel Insurance

I search an internet portal for travel insurance. They offered the most competitive rates extracted from many insurance companies in the United Kingdom.

Here are my findings:

* the difference between the lowest and highest in the top 20 quotes can be as much as three times

* the plans indicate coverage of GBP 10 million, but this applies only to emergency evacuation.

* the actual payouts for accident injury and hospital stay is quite modest, and close to the level offered in Singapore.

Conclusion: it pays to shop for your travel insurance. Do not pay more than SGD 4 for each day of coverage. Look at the amount that you are covered for accident, medical expenses and loss of baggage, as they represent the key payouts.

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