What Is the Best Cheap Travel Insurance in Singapore?

Written By:

Emma Lam

| Updated July 01, 2026

2 Mins Read

Part 4 of 28 from article series: Travel Insurance General →

What is the best cheap travel insurance in Singapore?

If you’re searching for the best travel insurance in Singapore, Zurich and FWD typically offer the lowest prices for essential coverage. For those who want extra perks or higher coverage at a value-for-money price, MSIG and DirectAsia are strong contenders. Ultimately, the "best cheap" plan depends on your own travel needs, what you want covered, and which insurers are running the best travel insurance promotions at the time.

Top cheap travel insurance options to consider

Here’s a comparison of popular entry-level plans for a 1-week single round-trip ASEAN trip to Thailand.

Insurer	Travel insurance plan	Estimated premium	Key highlights
Tiq by Etiqa	Entry	S$22.50	Seamless digital claims; automatic payout for 3+ hour flight delays.
FWD	Premium	S$22.85	Affordable; unlimited emergency evacuation; fully digital claims process.
DirectAsia	Voyager 150	S$24.75	Competitive pricing; children get the same coverage as adults in family plans.
MSIG	TravelEasy Standard	S$24.80	Strong value; high post-trip local medical coverage; automatic adventure sports cover.

Factors to consider when choosing travel insurance

Coverage needs: Basic plans have lower limits for medical expenses or trip cancellation. If you’re travelling to countries with costly healthcare (e.g., USA), consider mid- or high-tier plans.
Trip frequency: Travel more than 2–3 times a year? An annual multi-trip plan is usually more cost-effective than multiple single-trip policies.
Included activities: Most entry plans exclude adventure sports. MSIG and Great Eastern often include these by default. Always check the product terms for details.
COVID-19 protection: Most policies now include COVID-19 coverage, but some (e.g., FWD, Tiq) offer it as an optional add-on, which can affect price and limits.
Exclusive promotions and discounts: Insurers run frequent discounts (sometimes up to 60% off!), plus extra perks via MoneySmart (e.g., eSIMs, cash rewards). Compare current deals before buying.
Ease of claims: Providers such as FWD and Tiq have fully digital or automated claims—ideal for hassle-free processing and fast payouts.

💡 MoneySmart Tip

Use trusted online comparison tools like MoneySmart's travel insurance comparison to explore coverage limits, premiums, and policy features across leading insurers in Singapore—helping you find the right insurance plan for your trip, quickly.

FAQs About Cheap Travel Insurance

What do cheap travel insurance plans usually not cover?

Most cheap travel insurance plans do not fully cover trip cancellations, pre-existing medical conditions, or high-risk/adventure sports activities. Coverage limits for medical expenses and baggage loss also tend to be lower than comprehensive plans.

Is cheap travel insurance enough for most trips?

Cheap travel insurance is often enough for short, low-risk trips where you are mainly concerned about basic medical emergencies or flight delays. If you are travelling for longer periods, visiting multiple countries, or carrying expensive items, a more comprehensive plan may offer better value.

Do cheap travel insurance plans include Covid-19 coverage?

Some cheap travel insurance plans do include Covid-19 coverage, but limits are often lower and exclusions may apply. Travellers are advised to always check whether outpatient treatment, quarantine costs, or trip cancellations due to Covid-19 are covered.

Who should buy cheap travel insurance?

Cheap travel insurance is best suited for travellers taking short, low-risk trips who mainly need basic medical coverage and protection against common issues like flight delays. It can also work for budget travellers or frequent flyers who already have some coverage through credit cards or employer benefits. However, it may not be ideal for longer trips, families, or travellers who need higher medical or cancellation coverage.

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Written By:Emma LamContent Strategist

As a personal finance content strategist for over 3 years, Emma understands the struggle of juggling savings, credit cards, and everything in between all too well; she aims to simplify money matters one jargon at a time.