Travel insurance with car rental excess: What it covers and how it works
Driving overseas? Compare the best travel insurance with car rental excess cover in Singapore. See coverage limits, prices, and top providers for 2026.
The cheapest travel insurance plans in Singapore: Comparison & guide
Having travel insurance offers peace of mind and important safeguards when you’re away from home. Whether you need the cheapest travel insurance for a Schengen visa or the cheapest single-trip travel insurance from Singapore, this guide has ideas for you to explore.
We'll also introduce the Wise card, a handy travel companion to make seamless card payments when you're overseas.
Do you need travel insurance?
Having travel insurance may be a mandatory requirement for your visa - but even if it is not, it’s highly recommended.
Some countries require proof of insurance for entry - but even if not, it’s good to have anyway because it offers reassurance you’ll have help if you have an accident, medical issue, or become the victim of a crime.
Wondering when to buy travel insurance? Most policies can be bought from 30 days to a full year before a trip, but usually you must sign up before you leave Singapore. We do have one option for those leaving it late, though - NTUC Income Travel Insurance - which you can arrange even shortly after leaving Singapore.
Single-trip vs annual multi-trip insurance
Travel insurance plans are usually offered on a single-trip or annual basis. Single-trip plans are usually for one destination only and for a fixed period of time, while an annual plan may cover you for many trips and a fixed number of total days away from Singapore in the year.
The best option for you depends on how often you travel, but you can generate online or phone quotes for both types of plans to compare the costs and see which is the most economical for your unique needs.
What to look for in a travel insurance plan
We have some good basic travel insurance plans to look at in just a moment - when you’re deciding which suite you, consider the following:
- Medical coverage - overseas medical costs can be very expensive, depending on the region you're travelling to. Top-notch cover offers 1 million SGD or more, with basic plans usually covering around 100,000 SGD of expenses.
- Trip cancellation - this isn’t always covered on basic plans, but if you are paying a deposit on a trip, and worry about losing out if you need to cancel, it may be worth seeking out.
- Baggage and personal belongings - cover is usually available even on basic plans, but the level of payment available can be low. If you’re traveling with expensive items, check that the cover is enough for your needs.
- Personal liability - personal liability is normally an inclusion even on basic plans, and can offer peace of mind in case you’re involved in an accident overseas, for example.
- Adventure sports coverage - adventure activity cover is normally an add-on option, worth skipping to save money if you are not participating in these activities.
- Exclusions - remember that ‘cheap’ policies have strict exclusions, including pre-existing conditions - read the policy wording carefully when you sign.
- 24/7 Emergency assistance - review the way your provider supports you in the event of an emergency, ideally with 24/7 support you can access from anywhere.
Singapore’s cheapest travel insurance plans: A comparison
This guide explores the options for the cheapest travel insurance in Singapore - here’s an overview of the providers we examine:
- FWD Travel Insurance - great for choice of cheap plans with 1M SGD medical cover and unlimited repatriation costs
- Singlife Travel Insurance - great for people hiring a car abroad, with excess cover even on the basic plan
- NTUC Income Travel Insurance - great for anyone leaving it late - arrange even shortly after leaving Singapore
- ETIQA Travel Insurance - great for COVID cover, which comes as standard, even on cheaper plans
- MSIG Travel Insurance - great for basic single trip plans with limited cover, useful for low budget and low risk trips
- AIG Travel Insurance - great for tailor-made quotes to suit your individual needs
- Great Eastern Travel Insurance - great for broad medical and trip disruption covers, even on the cheapest plan
- Allianz Travel Insurance - great for cover from as little as 14 SGD, depending on your plans
- Chubb Travel Insurance - possibly the cheapest travel insurance to Malaysia, great for low-cost plans for Batam, Bintan, and Malaysia
Travel insurance premiums depend on your personal circumstances and the trip you’re taking. That means there’s not really one ‘cheapest’ provider or policy - but we’ve picked out what these plans are best for, to help you narrow down your research.
| Insurance company | Best for | Medical coverage (SGD) | Trip cancellation (SGD) | Key features | Exclusions |
|---|---|---|---|---|---|
| FWD Travel Insurance¹ | Choose from 3 different plans, from 14 SGD for 3 days | 1 million, unlimited repatriation | Up to 7,500 | Covers delays, cancellations, theft and damage as well as medical | Add-ons needed for COVID, pre-existing conditions, or cancel for any reason cover |
| Singlife Travel Insurance² | Rental vehicle excess cover even on a basic plan | 250,000 on cheapest plan | Not covered on cheapest plan | Rental vehicle excess, trip interruption, loss and theft included as well as medical | Add-ons needed for pre-existing conditions, winter and adventure sports, and weddings |
| NTUC Income Travel Insurance³ | Sign up as late as a day after departure | 250,000 on cheapest plan | Up to 5,000 | Some adventure sports covered, as well as delays, cancellations, losses and medical | Specific plan choices needed for pre-existing conditions |
| ETIQA Travel Insurance⁴ | COVID cover as a standard | 200,000 on cheapest plan | Up to 5,000 | Some pre-existing conditions may be covered on select plans | Add on cover needed for pet costs, sports equipment, child education costs |
| MSIG Travel Insurance⁵ | Basic plan option with low price point | 50,000 on cheapest plan | Not covered on cheapest Lite plan | Lite plan covers most common medical areas with low limits | Specific plans needed for pre-existing conditions and to avoid excess costs |
| AIG Travel Insurance⁶ | Individual quotes based on travel plans | Up to 2.5M on highest cover plans - low cost plan details on request only | Cover details on request only | Plans are sold on an individual basis, so you need to generate a quote to learn cover options | Basic plans exclude sports and adventure sport cover |
| Great Eastern Travel Insurance⁷ | Evacuation, overseas and Singapore medical cover even on basic plan | 100,000 on cheapest plan | Up to 2,000 | Travel cancellation, postponement and disruption and emergency phone costs, as well as medical cover | Specific plans needed for pre-existing conditions |
| Allianz Travel Insurance⁸ | Basic plans from just 14 SGD | 200,000 on cheapest plan | Up to 1,000 | Emergency dental covered even on basic plan, good breadth of cover options | Specific plans needed for delays, loss of documents and other common events |
| Chubb Travel Insurance⁹ | Low-cost insurance for Batam, Bintan, and Malaysia | Cover details on request only | Cover details on request only | Different plans have their own reach and cover levels | Basic plans are very limited in scope - trade up for other destinations and higher limits |
*Details correct at time of research, 18th November 2025
FWD Travel Insurance
Best for: Choice of plans from as little as 14 SGD for a 3-day trip
FWD Travel Insurance has 3 different plans with their own coverage levels, which all include delays, cancellations and medical support.
Key features:
- From 14 SGD for a 3-day Single trip in ASEAN
- Choose from Premium, Business, or First plans with different costs and cover
- Delays covered by 100 SGD for every 6 hours of delay on cheapest plan
- Add ons include Pre-existing Medical Conditions cover, Cancel For Any Reason cover, COVID-19 cover
Singlife Travel Insurance
Best for: Car hire cover, even with a cheaper plan choice
Singlife Travel Insurance offers different coverage levels, each with some nice inclusions, such as rental vehicle excess. The cheapest plan doesn't cover cancellation but does have 1,000 SGD interruption cover.
Key features:
- Three plans - Travel Lite, Plus or Prestige, depending on cover needed
- Rental vehicle excess on all plans
- Higher tier has unlimited medical cover - basic plan runs to 250,000 SHD
- Add-ons include Pre-existing Medical Conditions cover, winter and adventure sports, and weddings
NTUC Income Travel Insurance
Best for: availability even after departure - buy up to a day into your trip if you forget
NTUC Income Travel Insurance has good coverage breadth, with varied plans depending on the cover levels you need and whether or not you have pre-existing conditions to include in your plan.
Key features:
- Multiple different plans, including some which cover pre-existing conditions
- Buy up to a day after leaving Singapore
- Excellent offers and discounts for new customers
- All plans include medical cover, delay, cancellation and disruption support - reasons and coverage levels vary
ETIQA Travel Insurance
Best for: All plans include COVID cover, which includes cancellation options where eligible
ETIQA Travel Insurance has several different plans, which have their own features and cover levels. There are some options which have pre-existing condition insurance, but the most basic plans may not offer this feature.
Key features:
- Plans split into pre-existing condition cover and standard options, with different cover levels
- All offer good range of cover types, including medical, cancellation and delays
- Arrange everything online or in the provider app
- An add-on cover available for pet costs, sports equipment, child education costs
MSIG Travel Insurance
Best for: Lite plans on a single-trip basis can offer basic coverage with a low price point
MSIG Travel Insurance have many different plans depending on your needs, which include the Lite plan, which has a very low cost but has correspondingly limited benefits. This could be a good option if you’re on a low-risk trip and need only very basic insurance.
Key features:
- Choose from different plans, including Lite which is a cheaper option with basic cover levels
- Basic plan offers repatriation and some medical cover, as well as limited travel disruption support
- Instant online policy issuance if you’re in a hurry
- More comprehensive plans include options for individuals with pre-existing conditions
AIG Travel Insurance
Best for: Tailor-made quotes based on your age, destination and plans
AIG Travel Insurance is one of the largest providers in Singapore and offers a varied range of policy options. However, to learn about the options which suit your trip, you’ll need to generate a quote and talk to an agent. This will allow you to decide if it’s the cheapest insurance in Singapore for your needs.
Key features:
- Variable plans available with tailor-made quotes
- Highest tier boasts the highest medical cover of all plans available in Singapore
- COVID-19 cover is included in all plans
- Premium plans include sports and adventure sports cover
Great Eastern Travel Insurance
Best for: Good medical and repatriation breadth of cover, even on the cheapest plan
Great Eastern Travel Insurance is another major Singapore insurance provider with a good range of plans. The cheapest plan option still covers many common claims for medical costs and trip disruption.
Key features:
- Different plans available depending on needs and pre-existing conditions to cover
- Travel cancellation, postponement and disruption cover included in basic plan
- Plans can be bought entirely online or through the provider's app
- Add-ons can cover leisure adventure activities and sports equipment
Allianz Travel Insurance
Best for: Very low price point for the cheapest plans
Allianz Travel Insurance has Basic, Silver and Platinum plan options, with the Basic plan marketed at the cost of just 14 SGD and upwards. Cover levels vary, so check suitability before you buy.
Key features:
- Choose from a range of plans, from just 14 SGD for the cheapest
- Emergency dental and some TCM covered even on basic plan
- Travel accidents are not covered on basic plan - trade up for this benefit
- Popular provider with 24/7 support and a global footprint
Chubb Travel Insurance
Best for: Low-cost insurance for Batam, Bintan, and Malaysia
Chubb Travel Insurance can be a good option if you are heading to a near neighbour, including Batam, Bintan, and Malaysia. The lowest price point Saver plan covers these destinations for peace of mind while you’re away.
Key features:
- Choose from Saver, Economy, Business or First plan levels
- All plans are offered on an individual quotation basis only
- Discounts and promotions often available for new customers
- Global provider with good support services
Summary
Having travel insurance may be mandatory for your trip - but even if it isn't, it’s a smart idea to get support and cover for any unforeseen events during your trip. Even a basic travel insurance plan can be a real help if you fall ill or have an accident - with plans offered for as little as a few dollars a day.
Travelling soon? Bring the Wise card along to maximise your foreign currency transactions
The Wise card lets you spend in 40+ currencies at the mid-market rate including MYR, JPY, CNY, and USD so you know you'll be getting a great deal in over 150+ countries. Simply create a free Wise account, order a card and top-up SGD to get started.
Virtual cards are free and can be added to your Google or Apple Pay wallet, while a physical Wise card can be ordered for a low fee of 8.50 SGD. Having a physical Wise card allows you to make chip and pin payments, as well as 2 free ATM withdrawals to the value of 350 SGD each month, before low fees start.
While abroad, you can choose to spend with directly in SGD and let auto-conversion do the trick, or convert to your desired currency with your Wise account. Either way, you’ll get the exchange rate you see on Google, with low, transparent fees from 0.26%.
Plus, you can activate Wise Interest to earn returns* on your SGD and other currencies, meaning your travel money could be growing right up until you spend it.
*Growth is not guaranteed. Capital at risk.
Frequently asked questions
Which is the best travel insurance in Singapore?
There’s no single best travel insurance in Singapore - different providers all have their own levels of cover and packages to suit different needs. Use this guide to get some ideas and do your own research.
Which insurance company is best for travel insurance?
No single company is ‘best’ for travel insurance, but choosing one with a good reputation with customers and 24/7 emergency support can offer peace of mind if you ever need their help.
Can I buy travel insurance after departure from Singapore?
Usually, you must sign up before you leave Singapore. If you forget, look out for NTUC Income Travel Insurance - which you can arrange even shortly after leaving Singapore.
Sources:
- FWD Travel Insurance
- Singlife Travel Insurance
- NTUC Income Travel Insurance
- ETIQA Travel Insurance
- MSIG Travel Insurance
- AIG Travel Insurance
- Great Eastern Travel Insurance
- Allianz Travel Insurance
- Chubb Travel Insurance
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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