A Comparison of Travel Insurance Companies in the Philippines

Two years ago, I lost my luggage when I flew from Manila to Kuala Lumpur. I was attending a familiarization tour in Malaysia and it was the worst travel nightmare I’ve had. Imagine, I didn’t have anything but a pair of socks, a few undies and a shirt and a short in my backpack and our itinerary was to go to remote villages in Perak, Malaysia. I thought I would get it in a day or two so I didn’t buy anything in Kuala Lumpur but unfortunately, it did not arrive. To make the long story short, my baggage was lost and it was only found when I was about to fly back to the Philippines.

To be fair with the airline, I was reimbursed of the expenses I incurred in buying personal effects and I was paid based on the coverage stated by the Philippine law when it comes to lost baggage. If only I got travel insurance, it could have been a lot better.

Well, that was the turning point when I told myself that I should get a travel insurance whenever I go out of the country. I don’t want to be in that situation again and not covered by insurance. Plus, I don’t want to burden my family if something happens to me while I am away. At least I am covered if I get hospitalized or get financial assistance if I need to cut short my vacation due to an emergency at home.

How to get a travel insurance in the Philippines?

Getting a travel insurance in the Philippines is quite easy. There are lots of companies that offer travel insurance no matter how short or long you will be gone. You don’t have to physically go to their offices as most of them offer online services for your convenience.

Here’s a list of some of the popular companies in the Philippines that offer travel insurance.

Pacific Cross

Website: http://www.pacificcross.com.ph
Email: info@pacificcross.com.ph
Phone number: +63 2 899-800

Pacific Cross offers two types of travel insurance – Travelsafe Tripguard and Travelsafe Annual. The former is ideal if you are not traveling a lot in a year and the latter is perfect for those frequent travelers so you get coverage the whole year provided that your trip does not exceed 90 days every time you travel.

How much does it cost to buy a Pacific Cross Travelsafe Tripguard Insurance?

The cost basically depends on the number of days of your trip. To give you an idea of the cost, we have screenshot a sample computation for a 5, 10, 20 and 30 days trip.

The cost of Insurance for a 5-day vacation

Cost of Insurance for a 10-day vacation

20-day vacation Cost of Insurance

Cost of Insurance for 30-day vacation

As for the benefits, you can check the full coverage here. I normally buy their De Luxe Peso plan when I travel around Asia and Executive Dollar Plan for other continents.

Why choose Pacific Cross?

  1. Their premium is quite cheap.
  2. You pay for whatever days you travel. The premium is adjusted on a per day basis.
  3. Benefits and coverage are quite good, to be honest.
  4. The loss of travel document is covered.
  5. Trip cancellation and trip termination are covered. Very important if there is an emergency back home.

Cons: Loss of laptop and theft of cash are not covered.

Disclaimer: I have purchased their travel insurance but I never had any misfortunes, luckily, so I cannot tell you how’s the process of claiming the benefits. If you have an experience with Pacific Cross, we want to hear your story. Let us know in the comment section below.

Malayan Insurance

Website: https://www.malayanonline.com/travelmaster/

Another travel insurance provider in the Philippines is Malayan Insurance. Unlike Pacific Cross, Malayan Insurance only offers one type of travel insurance with only one type of policy/premium. Their maximum benefit is only up to Php1,000,000. To view their full coverage and benefits, you can check here.

Cost of Travel Insurance with Malayan Insurance

The cost varies depending on how many days you will be traveling. Their computation is based on a period: 4, 8, 15, 24, 31, 45, 60, and 90 days.

Why choose Malayan Insurance?

  1. Their premium is cheap.
  2. Buy this if your travel period is within their limits so you will not pay for more as they do not compute on a per day basis, unlike the Pacific Cross.
  3. Trip cancellation and trip termination are covered.
  4. Loss of cash and loss of laptop are covered but with very minimal value. Php5,000 and 10,000 respectively.

Cons: Only one type of premium and the maximum benefit is only Php1,000,000. Also, not a good choice if you travel outside their specific period of coverage like if you travel for 5 or 10 days, you will have to get their 8 and 15 days insurance. In short, you pay for more than your intended stay.

Disclaimer: Again, I have purchased a travel insurance from Malayan but I never tried cliaming for benefits.

BPI Insurance

Website: BPI Travel Care Insurance

Bank of the Philippine Islands (BPI) offers three types of Travel Insurance premium as part of its non-life insurance, classified into Gold, Diamond, and Platinum. They also offer a separate package (more expensive) if you travel to Europe. To check the detailed benefits and coverage, click here.

Cost of travel insurance with BPI Travel Care Insurance

Like Malayan Insurance, you pay per covered duration: 1-4 days, 5-7 days, 8-14 days, 15-21 days, and 30 days.

Cost of Non Schengen Package

Cost of Schengen Package

Why choose BPI Insurance?

I honestly don’t know. Based on the amount of premium and coverge, I’d choose Malayan or Pacific Cross. Also, their coverage for repatriation is with a limited amount. I never tried purchasing a travel insurance with them.

World Nomads Insurance

Website: World Nomads

If you want a wider coverage and is willing to pay more, World Nomads may be the right travel insurance for you. It’s a trusted brand and based on reviews, it’s one of the best in the industry.

Their standard plan is roughly around Php4,000 for a two-week travel.

For a detailed premium and coverage, you may enter you details below and get a quote.

Why get a Travel Insurance?

You don’t know what the future holds and who knows what will happen on your next trip. You might lose your passport, your luggage or you might meet an accident. These are some of the possible scenarios that can happen while you are on a holiday. With a travel insurance, you will be able to get financial assistance when these emergencies occur while traveling.

Some of the benefits you can avail when you have travel insurance:

  • Emergency Accident & Sickness Medical Expenses Reimbursement
  • Emergency Repatriation and Evacuation Assistance
  • Recovery of travel expenses during emergency trip cancellation and trip termination.
  • Travel Benefits and compensation if you lose your travel documents, laptop, luggage, or if you encounter flight delays and cancellation.
  • Coverage for loss of life.

So, the next time you travel abroad, make sure you are covered!

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