What is Travel Insurance and What are Your Top Options?

Travel insurance is typically not a priority for most Filipinos when planning a trip. We usually consider getting one only when the airline offers it with flights or when it’s required for certain visa applications.

You wonder: "What is travel insurance? Do I really have to buy it? Or is it just an unnecessary expense?"

To decide whether to get this type of insurance or not, it's best to understand how travel insurance in the Philippines works and what benefits you can expect from some of the established travel insurance providers in the country.

What is Travel Insurance and Why is it Important?

Travel insurance is a type of non-life insurance that provides financial protection against unforeseen inconveniences and incidents during a trip.

Based on the scope and limitations of your policy, your travel insurance can reimburse you for money that you’ve lost due to unexpected circumstances during your trip. Some insurance companies also implement cashless settlements.

It is important that you get travel insurance before the trip. Otherwise, you won’t be able to avail of the benefits of your travel insurance.

What Does Travel Insurance Cover?

Now that you have the answer to the question, “What is travel insurance?” you may be wondering about its inclusions. Depending on your insurer and package, the benefits of travel insurance include the following:

Medical expenses – If you get injured or sick during your trip, your travel insurance will cover pertinent costs, such as hospital expenses and doctor’s fees.
Personal accidents – Incidents resulting in death or permanent disablement are usually covered by travel insurance.
Personal belongings coverage – Your travel insurance may cover lost, damaged, or stolen belongings during your trip.
Cancellation and postponement coverage – If your trip has been canceled or postponed, your insurer will reimburse the amount equivalent to your non-refundable expenses.

On top of the abovementioned benefits, the insurer may offer 24/7 hotline services should you encounter any inconvenience or problem that is covered by your insurance.

How Does Travel Insurance Work?

Say you encounter a travel problem or get sick during your vacay. How will you be able to enjoy the benefits of travel insurance?

Here’s how travel insurance works:

Contact your travel insurance company’s 24/7 hotline to inform them of the incident. You may also get in touch with them via email.
The insurance company or its counterpart (in case you’re abroad) will ask you for the details of your incident. The insurer will also advise you to settle all the expenses you’ve incurred first.
Once you’ve confirmed your case, the insurance company will then also ask you to submit certain documents. These may include medical reports, receipts, and the like.
The insurer will review your case. Depending on your case, they may get back to you after a few weeks.
After the investigation, you will receive a confirmation that your claim has been accepted. Otherwise, you’ll receive a rejection letter explaining the reason behind it.

Note: Alternatively, you can file a claim by completing the application form on your insurer’s website.

How Much is Travel Insurance in the Philippines?

The cost of travel insurance is surprisingly affordable. The premium starts between ₱200 to ₱1,000. But the final travel insurance price in the Philippines will depend on the number of inclusions, your destination country, and the length of your stay.

When Should I Get Travel Insurance?

Who needs travel insurance? This will depend on your travel plans, but generally, this safety measure is necessary in the following situations:

✔️ If You Don't Have Life or Health Insurance

Travel insurance is advisable for travelers who have no life or health insurance coverage. It’s all the more imperative to get one if you have dependents.

Even if the odds of illness or death while traveling are low, you'd want to have protection for when you need funds to cover your medical expenses until you return home.

✔️ International Trips

You need insurance each time you travel abroad. Although you might already have a life or health insurance policy, your medical expenses might not be covered if you get hospitalized overseas. Only a few life insurance policies in the Philippines cover hospitalization and medical treatments abroad.

Medical costs in foreign countries can be expensive, too. You can’t always tell if you’ll have enough cash for out-of-pocket medical expenses. This is where travel insurance in the Philippines comes in handy, as you won't have to be burdened as much when paying for medical bills while on an overseas trip.

✔️ Schengen Visa Application

Filipinos traveling to Europe are required to buy a travel insurance policy before applying for a Schengen visa.

Travel insurance for a Schengen visa should cover the entire period of stay in all member states of the Schengen Area, regardless of the purpose of visit (e.g., tourism, business, education, etc.), with a coverage of at least €30,000 (approximately ₱1.8 million) for medical emergencies, hospitalization, and repatriation in case of death.

Also, the insurance policy should come from an accredited Schengen-compliant insurance company in the Philippines.

✔️ Expensive Trips with Prepaid and Non-Refundable Expenses

Do your prepaid and non-refundable travel expenses (e.g., airline tickets, tours, accommodations, etc.) cost more than what you're willing to lose? Are you worried about losing money if the airline cancels your trip?

If so, you should get insurance before you leave so that you'll be reimbursed for your travel-related bookings in case your trip is canceled.

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When is Travel Insurance Unnecessary?

Even though travel insurance in the Philippines is useful in many cases, it's not always worth the extra cost. Here's when you can skip the insurance for your trips:

❌ You're Traveling for Cheap (or Free)

If you're just visiting your relatives in the province, you won't likely have to pay for food, accommodation, and other travel costs, because chances are, you'll be staying with family members. Buying travel insurance in this case might not be a good idea.

Yes, there's a risk of losing money, but the amount is relatively inconsequential compared to how much you can lose during an overseas trip. Purchasing insurance every time you go on a trip, no matter how short the distance, might cost you more in the long run, defeating the purpose of travel insurance.

As a rule of thumb, try to see the bigger picture first. Check if the benefits you can claim when the need arises are worth more than the costs you’ll shell out if you get travel insurance.

❌ Your Credit Card Provides Travel Insurance

Some credit cards offer free travel insurance as a benefit. An example is AIG travel insurance, which is offered as one of the benefits available to Visa Infinite cardholders who use their card to make land, sea, or air travel purchases.

Check if your card comes with travel insurance and know its specific coverage. You might be getting duplicate coverage if your credit card has sufficient coverage for any travel inconvenience and accident.

If you have a car insurance policy, check it as well to see if its coverage includes theft protection and rental car collision benefits. You don't want to pay extra for travel insurance when your existing car insurance policy already covers any unexpected road mishap.

❌ You Have Life or Health Insurance

If your life or health insurance also covers incidents during trips, you may want to skip travel insurance. To know if you have this coverage, refer to your policy or talk to your agent.

❌ You Have a Pre-Existing Condition

You may want to think twice about getting a travel insurance policy if you have a pre-existing medical condition. Many policies have a clause that keeps those with pre-existing conditions from availing of emergency and hospitalization benefits.

Nevertheless, you may still get travel insurance to cover other incidents, such as trip cancellation, flight delay, and lost baggage.

List of Travel Insurance Providers in the Philippines

If you’re not sure where to get travel insurance in the Philippines, check out this list of travel insurance providers.

📌 OONA

Premium: Starts at ₱299
COVID-19 coverage: Available
Benefits:
- Accidental death and permanent disability benefit
- Personal liability benefit
- Medical expenses and hospitalization benefit
- Baggage delay benefit
- Trip cancellation benefit

MAPFRE Insurance, which has rebranded to OONA,^[1] offers different coverage options for travelers. For its domestic travel insurance, you get protection and coverage for trips within the Philippines with a coverage period of up to 90 days. Meanwhile, the international travel insurance option provides coverage for trips around the world with a coverage period of up to 365 days or one year.

OONA travel insurance includes personal liability and death benefits. Its travel assistance services cover not only medical expenses but also lost luggage, trip cancellation, and repatriation of mortal remains in case the insured dies during the trip.

📌 Prudential Guarantee

Premium: Starts at ₱361
COVID-19 coverage: Available
Benefits:
- Medical and accidental benefits
- Daily hospital confinement allowance
- Compassionate visit
- Trip cancellation and termination
- Flight delay
- Aircraft skyjacking

Prudential Guarantee’s PGAI Travel Shield^[2] comes in domestic and international plans. Regardless of the plan you get, benefits include medical and accidental benefits, worldwide assistance benefits, and travel inconvenience benefits.

If you’re traveling locally, your medical expenses (including COVID-19 coverage) is up to ₱1 million. You also get a daily hospital confinement allowance of ₱1,000 per day for a maximum of 20 days.

The standard international medical benefits are the same as the above. But if you choose to get a comprehensive plan, you can get coverage of up to ₱2.5 million in medical expenses (including COVID-19).

📌 PGA Sompo

Premium: Starts at ₱463
COVID-19 coverage: Available
Benefits:
- Personal accident and liability
- Medical expenses
- Evacuation and repatriation
- Trip cancellation
- Loss of travel documents
- Strikes and hijacking

PGA Sompo’s TravelJOY^[3] offers a wide range of travel insurance inclusions, ranging from medical expenses to strikes and hijacking. It also comes with a COVID-19 cover.

Planning to go to Europe? TravelJOY has a Schengen Visa-accredited travel insurance policy. This has been expanded to other countries, such as the UK, Ireland, Turkey, Scandinavia, Baltic States, European Russia (Moscow and Saint Petersburg), and the Euro Zone countries.

Like other insurance companies, PGA Sompo employs paperless policies. That way, you can view your policy via your mobile phone or computer.

TravelJOY also uses a cashless system. This means you won’t need to settle your bill with the hospital. The insurer will take care of the hospitalization and emergency treatment.

📌 Standard Insurance

Premium: Starts at ₱350
COVID-19 coverage: Available
Benefits:
- Medical expense and personal accident benefit
- Cashless settlement
- Coverage for illnesses and accident-related claims
- Accredited by embassies of all Schengen states

Standard Insurance^[4] offers comprehensive travel insurance policies for both local and international travelers, named Travel LOCAL and Travel International respectively.

Travel LOCAL features a reimbursement type of settlement. As its name suggests, it provides coverage for travelers within the Philippines. You also get up to ₱500,000 limit on medical expense benefits. If you’re traveling with a group, you may enjoy discounted rates.

Travel International, on the other hand, offers a cashless settlement. With this package, you get up to ₱2.5 million cover for medical expenses and personal accident benefits.

📌 Malayan Insurance

Premium: Starts at ₱408
COVID-19 coverage: Available
Benefits:
- Personal accident benefit
- Personal liability benefit
- Travel expenses recovery
- Travel assistance benefit
- Car rental protection

Which travel insurance should you get if you want complete assurance? Check out Malayan Insurance’s Travel Master.^[5] It offers extensive personal accident coverage, which even includes terrorism and unprovoked murder. For its emergency medical treatment, it covers non-pre-existing illnesses and follow-up care.

Moreover, Travel Master has COVID-19 coverage. The policy’s cashless hospitalization feature allows you to use the insurance like an HMO. Value-added benefits include free insurance coverage for damage to rented cars and treatment and assistance for incidents resulting from sports activities.

You can get a Travel Master Asian Essential Plan at ₱408.

📌 FPG Insurance

Premium: Starts at ₱770
COVID-19 coverage: Available
Benefits:
- Medical treatment and expenses
- Trip cancellation
- Trip curtailment
- Luggage delay
- Personal liability

FPG Insurance’s MyTravel Mate^[6] accommodates both local and international travelers. Its wide range of benefits includes medical treatment and expenses (including COVID-19), trip cancellation, personal accident, emergency dental care, first medical assistance, delayed departure, and missed connecting flights, among others.

If you travel multiple times a year, you can avail of the company’s multi-trip and annual multi-trip packages. Cost starts at a little over ₱8,900 for 180 days (multi-trip up to 90 days per trip).

Compared to other travel insurance policies, FPG insurance can cover travelers up to 80 years old.

📌 Etiqa

Premium: Starts at ₱260
COVID-19 coverage: Available
Benefits:
- Medical and hospitalization expenses
- Hospital allowance
- Medicine delivery
- Personal liability
- Missed connecting flight
- Baggage delay

Etiqa is an award-winning ASEAN insurer that provides all types of life and non-life insurance products. It’s a technology-driven insurance company with international experience and deep local knowledge in Southeast Asia. In fact, it’s known as a pacesetter in the digital insurance niche in Singapore and Malaysia.

Despite all its accolades, Etiqa offers affordable insurance products. If you’re looking for the cheapest travel insurance in the Philippines, Etiqa is the provider for you.

This insurance company can protect you against unforeseen events like flight cancellations, medical emergencies, and vehicle accidents while traveling—all for a relatively small premium. And in case of death, the insurance will cover the repatriation of mortal remains.

Whether you’re traveling solo or with your family, you can avail of Etiqa’s comprehensive but cost-effective travel assistance plan, which is available for clients aged 0 to 80. Additional COVID-19 coverage is also available for clients up to age 65 who are traveling internationally.^[7]

📌 AXA

Premium: Starts at ₱275
COVID-19 coverage: Available
Benefits:
- Personal accident benefit
- Travel inconvenience benefits
- Medical and evacuation expenses
- Personal liability benefit
- 24-hour travel assistance

AXA is known for cheap but good travel insurance in the Philippines with decent coverage. Among the benefits you can enjoy are 24/7 emergency travel assistance wherever you are in the world, comprehensive medical benefits (with COVID-19 coverage), refunds for pre-booked travel expenses, protection on personal belongings, and personal accident benefit.^[8]

AXA’s travel insurance covers domestic and international trips. You can also enjoy discounted rates if you and your family or friends purchase a Group Plan.

In case your travel plans include five or more trips per year, the Annual Multi-Trip plan will provide coverage for less.

📌 Pacific Cross

Premium: Starts at ₱355
COVID-19 coverage: Available
Benefits:
- 24/7 worldwide emergency assistance
- Medical coverage
- Cashless medical treatment
- Coverage for baggage loss, loss of travel documents, and flight delay
- Personal accident benefit
- Personal liability
- Trip termination

Pacific Cross is one of the leading insurers in Southeast Asia. Based in the Philippines, the company also has offices in other ASEAN countries like Thailand, Indonesia, and Vietnam.

If you’re traveling for business or pleasure, you can get the Travelsafe Tripguard, which includes COVID-19 coverage. If you’re a frequent traveler, get the Travelsafe Annual. Or if you’re taking short trips and need group travel insurance, go for the ShortSecure.

There’s also travel insurance available for seniors: Travelsafe with COVID-19 coverage (senior plans). Apart from these, there are a couple more options to choose from.^[9]

Pacific Cross travel insurance in the Philippines offers peso, dollar, and euro plans as well as individual, family, and group coverage. The Travelsafe Tripguard covers persons 15 days old to 75 years old.

📌 Chubb

Premium: Starts at ₱466
COVID-19 coverage: No
Benefits:
- Medical necessary expenses benefit
- Hospital confinement allowance
- Personal accident
- Emergency medical evacuation and repatriation
- Compassionate visit
- Travel inconvenience benefits
- 24-hour worldwide assistance services

If you’re looking for medical travel insurance in the Philippines, this is the provider to ring up. Whether you’re a first-time traveler taking your whole family on vacation or a frequent flyer going on a solo trip, you’ll find a plan option that suits your needs at Chubb Travel Insurance in the Philippines.^[10]

Chubb provides access to a global network of travel professionals with local expertise, so you can be sure you’re getting insightful support on your travel insurance needs. Moreover, it prides itself on its fast, efficient, and proactive handling of claims.

The specifics of how to get travel insurance in the Philippines through Chubb are pretty standard. You can call its hotline to make arrangements or get assistance. Then you can accomplish its Online Claim Form with the required supporting documents within 30 days of the incident.

📌 Starr

Premium: Starts at ₱496
COVID-19 coverage: Available
Benefits:
- Medical expenses benefit
- Accidental death
- Overseas hospital cash
- Burns benefit
- Baggage delay
- Travel delay
- Trip cancellation

Starr is one of the most trusted agencies in Asia, having established branches in China, Vietnam, Indonesia, Malaysia, and the Philippines. The local branch possesses an A rating from the A.M. Best Company.

Starr’s travel insurance plans apply to domestic and international trips. Covers include travel inconvenience, medical treatment, trip cancellation, travel delay, lost baggage, hospital cash, loss of travel documents, and Emergency Assistance Services.

One unique aspect of Starr’s travel insurance is that it covers loss of credit card. It also has amateur sports coverage.

📌 Alliedbankers Insurance Corporation

Premium: Starts at ₱227.94
COVID-19 coverage: Available
Benefits:
- Personal accident benefit
- Accidental burial benefit
- Repatriation of remains
- Hospital allowance
- Trip cancellation
- Loss of personal money overseas

Alliedbankers Insurance Corporation is the non-life insurance company of the Lucio Tan Group. It offers Travel Smart, a comprehensive travel insurance for domestic and international travelers.

Primary features include personal accident and accidental burial benefits worth up to US$50,000 or around ₱2.8 million as of this writing. Hospital-related benefits include medical necessary expenses which are issued cashless, compassionate visit, and return of minor children.

Travel Smart’s other coverage includes rental vehicle protection, personal liability with legal expenses, and extension of trip period.

Compare Top Travel Insurance Policies in the Philippines

To make it easier for you to choose the most suitable policy, here’s the list of travel insurance providers in the Philippines. It also includes what is covered and the projected benefits.

Provider	Premium Starts at	COVID-19 Coverage	Personal Accident	Medical Coverage	Trip Cancellation	Baggage Delay	Personal Liability
OONA Insurance	₱299	✔️	Up to US$80,000	Up to ₱1 million	Up to US$100,000	Up to US$200	Up to US$80,000
Prudential Guarantee	₱361	✔️	Up to ₱2.5 million	Up to ₱2.5 million	Up to ₱200,000	Up to ₱4,000 after first six hours	Up to ₱1 million
PGA Sompo	₱463	✔️	Up to ₱1 million	Up to ₱1 million	Up to ₱70,000	Up to ₱5,000	Up to ₱1 million
Standard Insurance	₱350	✔️	Up to ₱2.5 million	Up to ₱2.5 million	Up to ₱80,000	Up to ₱6,000	Up to ₱1.5 million
Malayan Insurance	₱408	✔️	Up to ₱1 million	Up to ₱2.5 million	Up to ₱50,000	Up to ₱5,000	Up to ₱1 million
FPG Insurance	₱770	✔️	Up to ₱5 million	Up to ₱5 million	Up to ₱100,000	Up to ₱5,000	Up to ₱1.5 million
Etiqa	₱260	✔️	Up to ₱1.5 million	Up to ₱2.5 million	Up to ₱25,000	Up to ₱25,000	Up to ₱500,000
AXA	₱275	✔️	Up to ₱5 million	Up to ₱3.5 million	Up to ₱200,000	Up to ₱50,000	Up to ₱2 million
Pacific Cross	₱355	✔️	Up to ₱1.5 million	Up to ₱2.5 million	Up to ₱60,000	Up to ₱3,000	Up to ₱1 million
Chubb	₱466	None	Up to ₱2.5 million	Up to ₱2.5 million	Up to ₱200,000	Up to ₱20,000	Not specified
Starr	₱496	✔️	Up to ₱1.2 million	Up to ₱2.5 million	Up to ₱150,000	Up to ₱5,000	Up to ₱2.5 million
Alliedbankers Insurance Corporation	₱227.94	✔️	Up to US$50,000	Up to US$50,000	Up to US$4,000	Up to US$2,500	Up to US$50,000

How to Choose Travel Insurance in the Philippines

Now that you know your options, learn how to choose the right policy. Here are some tips:

👉 Check the Coverage

Check all the inclusions that you will possibly need for your trip. For your well-being, make sure that it has emergency and hospitalization benefits. Features such as medical evacuation and repatriation of mortal remains should be also present.

Factor in the most common inconveniences, such as cancellations, delays, and lost baggage and documents. Depending on your planned activities, consider getting other inclusions like automatic extension and incidents related to sports and recreational activities.

👉 Take a Look at the Exclusions

Never assume that your travel insurance will cover everything. Spare yourself the disappointment by checking exclusions and related clauses. As mentioned above, travel insurance policies usually don’t cover pre-existing conditions and certain age groups.

Depending on your travel insurance, exclusions may include incidents such as war, pregnancy, suicide, loss caused by the influence of drugs and alcohol. Your insurance may also be considered void if you travel to certain countries, such as North Korea, Afghanistan, Sudan, Syria, etc.

👉 Check the Premium

Despite its minimal cost, travel insurance is still an additional expense. Compare your options and go for the insurer whose policy is comprehensive yet affordable. The golden rule, however, is that the more coverage you have, the more expensive your travel insurance price will be.

👉 Consider the Frequency of Your Trip

What travel insurance do I need? That depends on how many times you travel per year.

If you’re a jet-setter who goes on multiple holidays per year, get an annual plan. That way, you get to save money and time since you don’t have to apply for insurance every time you book a trip.

Otherwise, get a short-term travel insurance policy. Short-term policies are also applicable to sudden trips.

Regardless of the travel insurance type, always take into account the allowed maximum number of days per trip.

👉 Ask About the Claims Process

Alongside the travel insurance price in the Philippines, the claims process is a crucial factor you should look into. After all, you’re talking about money here.

You can ask your agent about it. Better yet, read reviews on social media and various discussion boards.

Final Thoughts

Ultimately, the best travel insurance in the Philippines is the one that not only gives you extensive coverage but also fits your budget. Check all available travel insurance providers and compare them based on plan types, coverage, benefits, and premiums.

Many people learn what travel insurance is and its importance of insurance the hard way—that is, when it’s already too late. Avoid this scenario and make sure you’ve got all your bases covered when tragedy strikes by getting travel insurance in the Philippines.

While you’re at it, consider getting other types of non-life insurance like mortgage redemption insurance or fire insurance to make sure that your home, office, and other properties are protected if something unpleasant and unexpected occurs.

Avail of a travel insurance policy via Moneymax

Sources:

Travel Without Worries: What is Travel Insurance and Where to Get One

Venus Zoleta