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Comparison of Travel Insurance in Malaysia

I highly recommend travel insurance when you go traveling. I used to skip purchasing travel insurance until I fell and injured myself in Sydney. Ever since then, I purchase travel insurance for myself and my girlfriend everytime we go traveling. And we were lucky to have bought it when we went to Thailand as our luggage was lost in transit. You can read about it here which teaches you the process of reporting and claiming lost luggage.

In this article, I would like to compare the different travel insurance plans in Malaysia that can be purchased online. To compare apple to apple, below are the details I put in to search for the quotations:

  • Single trip
  • 2 adults
  • Japan
  • Mar 1 to Mar 31

You can click on the links below to jump straight to the specific insurance provider.

  1. AIG
  2. Allianz
  3. AXA
  4. Chubb
  5. Etiqa
  6. Kurnia
  7. Lonpac
  8. MSIG
  9. Sompo
  10. Takaful Malaysia
  11. Tokio Marine
  12. Tune Protect

TL;DR – skip to Conclusion

AIG

AIG (American International Group) has 3 travel insurance plans which are Basic, Standard, and Deluxe.

AIG trip details

Even though Basic is the cheapest, it does not cover travel cancellation, delay (travel nor baggage), and personal effects.

AIG travel insurance plans and benefits AIG travel insurance plans and benefits AIG travel insurance plans and benefits AIG travel insurance plans and benefits AIG travel insurance plans and benefits

You can also scroll here to have an overview of the differences between the 3 packages. You can also switch the button at the top to switch to the comparison for family plans.

Website/ Product Disclosure Sheet/ Brochure

Allianz

For Allianz it is very straightforward as you don’t need to choose any plans after keying in the required info.

Allianz travel insurance details and benefits

The price is RM272 for 2 person and you can choose to add on the following:

  • Sports insurance coverage (RM63 per person)
  • High altitude mountaineering (RM450 per person for adult between 18-40, RM900 per person for adult between 41-60)
  • Domestic coverage (RM27 per person)

For sports insurance coverage, you might want to add on if you are doing any high risk sports which includes mountaineering up to 3500 meters. You will be insured with the following:

Allianz add on option

For mountaineering above 3,500m and up to 5,500m, you will need to choose this instead of the add on above.

Allianz add on option

Lastly, for Worldwide or Asia plans, Malaysia (domestic) is not included so you might want to add on this.

Allianz add on option

Although Allianz Travel Easy travel insurance has only 1 option, it has a wide coverage with reasonable insured amount. Besides that, the add on options are especially good for those doing high risk sports.

Website/ Product Disclosure Sheet/ Brochure

AXA

AXA has only 2 options – classic and VIP. If you have been reading from the top, classic is similar to AIG’s basic where it doesn’t cover travel delay/cancellation and personal effects. Therefore, VIP is the recommended option here.

AXA travel details

In a nutshell comparison:

AXA travel insurance plans

By breakdowns:

AXA travel insurance benefits AXA travel insurance benefits AXA travel insurance benefits AXA travel insurance benefits

Website/ Product Disclosure Sheet

Chubb

Chubb (formerly ACE Jerneh) has 3 options for their travel insurance which are – Premium, Executive, and First.

Chubb travel details Chubb travel insurance plans

The company has a comprehensive page which lists down all the coverage in details which helps to compare the 3 travel insurance plans which you can visit here.

For Chubb, even the basic Premium has an extensive coverage. Besides that, you have the option to add on coverage for cruise at a minimal cost. If you are playing golfs during your travel, do take First as it also covers for golfs.

Website/ Product Disclosure Sheet

Etiqa

Etiqa offers 2 travel insurance plans which are TripCare 360 Takaful and TripCare 360 Insurance. The 2 plans can be further categorized into Silver, Gold, and Platinum options.

Etiqa travel insurance plans

Both plans have the same options and costs as below. The price is before 25% discount and is for 1 individual.

Etiqa travel insurance plans and prices

The summary of benefits for each options as below:

Etiqa travel insurance benefits Etiqa travel insurance benefits

The basic silver has a good coverage but it lacks trip cancellation and curtailment. In addition, it also does not cover personal money and travel documents. Depending on your need, it can be sufficient or you can choose Gold instead for the mentioned items.

Besides that, you can also add on Adventurous activity cover to your travel insurance with a minimal premium which covers the following sports.

Etiqa add on for adventurous activities

Website/ Product Disclosure Sheet (TripCare 360 Takaful)/ Product Disclosure Sheet (TripCare 360 Insurance)

Kurnia

Kurnia’s Travel Supreme plan has 2 options which are Plan A and Plan B. Perhaps the team wants to be different than the other competitors thus no fancy names were given to the options.

Anyways, below is the price for 1 individual.

Kurnia travel insurance plans

For the full itemized benefits, you may refer to Plan A or Plan B.

Despite the non fancy name, the basic Plan A has a wide coverage which is sufficient for most travelers. With just an additional top up of RM19 to Plan B, you can get more higher coverage which seems to worth the price.

However, do take note that the plans offered by Kurnia are underwritten by AmGeneral Insurance Berhad.

Website/ Product Disclosure Sheet

Lonpac

Lonpac has 2 options for their Travel ezSecure travel insurance which are Basic and Premier. The price below shows for 1 individual only.

Lonpac travel insurance plans Lonpac travel insurance benefits Lonpac travel insurance benefits Lonpac travel insurance benefits Lonpac travel insurance benefits

The Basic option only covers for Personal Accident, Medical, Emergency Medical, and Personal Liability. Therefore, the Premier option seems to be the better choice with just an additional of RM30.75.

Website/ Product Disclosure Sheet

MSIG

MSIG (Mitsui Sumimoto Insurance Group) offers 2 travel insurance plans with simple name just like Kurnia which are Plan 1 and Plan 2.

The plans below are for 1 individual only.

MSIG travel insurance plan 1

MSIG travel insurance plan 2 MSIG travel insurance benefits MSIG travel insurance benefits MSIG travel insurance benefits MSIG travel insurance benefits MSIG travel insurance benefits MSIG travel insurance benefits

And once again, even though the name is plain, but both plans have wide coverage. The only difference between the 2 plans is that Plan 2 covers higher amount than Plan 1. Besides that, both MSIG travel insurance plans also covers for high-risk activities as stated in Section 19.

Website/ Product Disclosure Sheet

Sompo

Sompo offers 3 options for their travel insurance which are Lite, Basic, and Elite.

Sompo travel details Sompo travel insurance benefits Sompo travel insurance benefits Sompo travel insurance benefits Sompo travel insurance benefits Sompo travel insurance benefits Sompo travel insurance benefits Sompo travel insurance benefits

Although Lite seems to cover less items compared to Basic, but it has a higher price tag. The only 2 things that Lite covers but is not covered by Basic are Hospital Allowance and Travel Delay. However, both Lite and Basic do not cover the items in Section D – Travel Inconveniences (except Travel Delay for Lite). Therefore, I would suggest to go for Elite although it comes with a higher price tag.

Website/ Product Disclosure Sheet

Takaful Malaysia

Takaful Malaysia offers 3 plans for their Takaful myClick Travel PA travel insurance which are Bronze, Silver, and Gold.

Takaful Malaysia travel details

The prices below are for 1 person only.

Takaful Malaysia travel insurance bronze Takaful Malaysia travel insurance silver Takaful Malaysia travel insurance gold

The above screenshots are basic overview of their coverage and amount. They have the comprehensive table for comparison here. The basic Bronze covers extensive items which is sufficient for most travelers. However, it is recommended to go for Silver which covers higher amount with just an additional RM22. If you rent a car or plays golf during your travel, Silver and Gold also covers for these as well.

Website/ Product Disclosure Sheet

Tokio Marine

Tokio Marine provide 2 plans for their Tokio Marine Explorer travel insurance which are P100 (basic plan) and P325 (standard plan).

Tokio Marine travel insurance plans

The price below is for 1 individual.

Tokio Marine travel insurance p100 Tokio Marine travel insurance p325  Tokio Marine travel insurance coverage

Tokio Marine has a table for easy comparison between the plans here. In the fact sheet there is a P500 plan but is not offered under the drop down button in the selection of plans phase. The P100 basic plan does not cover a lot of items that P325 does which includes hospital allowances and travel cancellation/curtailment. However, surprisingly even the P100 covers for golf equipment as well.

I would recommend going for the P325 standard plan by topping up RM33. Besides that, this plan covers for car rental as well. In addition, you can add on premium for extreme activities. However, I can’t find this option in the selection phase.

Website/ Product Disclosure Sheet

Tune Protect

Tune Protect also offers 1 plan only for their travel insurance which is similar to Allianz.

The price below is for 1 individual only.

Tune Protect travel detailsTune Protect travel insurance benefits Tune Protect travel insurance benefits Tune Protect travel insurance benefits Tune Protect travel insurance benefits Tune Protect travel insurance benefits Tune Protect travel insurance benefits

Tune Protect has a full list of items that is covered by their travel insurance here in table format. It covers most, if not all of the basic items which includes trip cancellation and curtailment.

Website/ Product Disclosure Sheet

More options for travel insurance

There are several companies that provide travel insurance as well such as QBE, Prudential, and Great Eastern etc. However, you cannot buy via online for the mentioned companies (for Great Eastern it can be done via online but after I key in the info it keeps showing error and I can’t proceed). Therefore, if you have an agent that is servicing you for these companies, you can check with them. However, buying online is generally cheaper as the insurance companies usually rebate the agency commission to you.

Banks offer travel insurance as well

Besides the insurance providers as above, banks also offers travel insurance. However, most of them leads back to the insurance providers above. For example, if you go to Maybank website to get quotation, you will end up at Etiqa website with the same price and options. Same goes to Bank Simpanan Nasional (BSN) which goes back to AIG’s website.

However, some banks give you special promo or discount by purchasing through them.

CIMB x Sompo

CIMB gives you RM10 off the stamp duty when you pay with CIMB cards or CIMB Clicks.

CIMB Sompo promotion

However, if you key in the same details, the results come out differently. Firstly, the Lite option is not there if you compared to purchasing directly from Sompo website. Besides that, Basic costs RM90 instead of RM77.50 while Elite costs RM196 instead of RM157. However, the product disclosure sheet is the same as Sompo meaning the benefits are the same.

CIMB x Sompo

Besides CIMB, Standard Chartered also has promotion as below where you can get Grab vouchers if you purchase the travel insurance from them.

Standard Chartered x Allianz

Standard Chartered Allianz promotion

However, if you key in the same details as Allianz, you will find that the cost is RM300 instead of RM272. But for the price difference of RM28, you will get RM80 Grab vouchers which is a good deal.

Standard Chartered x Allianz

UOB x Liberty Insurance

UOB’s travel insurance is underwritten by Liberty Insurance. It has only 1 option like Allianz and Tune Protect. The price below is for 1 individual only.

UOB x Liberty Insurance UOB x Liberty Insurance

It has a wide coverage which includes travel cancellation and curtailment.

Website/ Product Disclosure Sheet

OCBC x Great Eastern

Although I had trouble getting quotation directly from Great Eastern website, but I have no trouble getting it via OCBC. However, do take note that OCBC’s plan is TravelMate while the one I tried to access via Great Eastern website is Great Voyager travel insurance.

Great Eastern offers 2 plans for their travel insurance which are Value Plan and Signature Plan. The price below is for 1 person only.

OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern

Both travel insurance plans cover extensively but with just an additional RM20, you get insured for a higher sum which is worthy. In addition, you can add on 5 benefits to your insurance plan if needed:

  1. Medical extension (RM10 for both plans)
  2. Golfer’s cover (RM100 for Value, RM60.50 for Signature. Same coverage amount but not sure why Value is more expensive)
  3. Adventurous activities cover (RM75.50 for both plans)
  4. Personal liability & rental car excess cover (RM12 for both plans)
  5. Home contents benefit (RM29 for both plans)

OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern OCBC x Great Eastern

Website/ Product Disclosure Sheet

Hong Leong Bank x MSIG

For Hong Leong Bank, it has the same travel insurance plans and benefits as per MSIG. Here is the summary table on HLB website. Besides that, it has the same product disclosure sheet. However, compared to the other banks, you get the quotation and purchase directly from HLB website so you would need to have their account.

Hong Leong Bank x MSIG

The price above is for 1 individual only. Just like the other banks, the price is higher (the price is actually the same for MSIG and HLB, but MSIG has 25% rebate).

RHB Insurance

RHB Group has their own insurance arm but it cannot be purchased online. For more info, you may visit here.

Citibank x AXA

You will be landed to AXA website to get quotation for the travel insurance. However, I’ve been having trouble getting the quotation but if I go directly to AXA website it is ok. You may try it here. However, both AXA and Citibank have the same plans and coverage which you can refer here.

Affin Bank x AXA

Just like Citibank, I have trouble getting quotation from this link. However, the plans are the same with AXA.

Alliance Bank x Zurich

Both cannot be purchased online. However, you may read about it here.

Airlines also offer travel insurance

When you purchase flight tickets, there are usually options to add on insurance. Below are some of the samples and their underwriting insurance provider.

Conclusion

Now that we have gone through all the travel insurance plans, it’s the headache moment to pick the one that is suitable. Let’s take a look at the prices based on the details below:

  • Single trip
  • 2 adults
  • Japan
  • Mar 1 to Mar 31
Insurance providerBasicStandardExtensive
AIG 150220380
Allianz262
AXA86196
Chubb214248366
Etiqa148.20241.60319.60
Kurnia 124162
Lonpac175.50237
MSIG182274
OCBC x Great Eastern162202
Sompo104100206
Takaful Malaysia98.66157.32192
Tokio Marine112200
Tune Protect166
UOB x Liberty Insurance140

Do take note that the prices above are gross prices, meaning it does not take into consideration of 25% discount (if applicable) and RM10 stamp duty.

Based on the table above, UOB x Liberty Insurance has the cheapest Extensive plan followed by Kurnia and Tune Protect. Therefore, if we were to rank solely based on price, then below are the options:

However, we should also take into consideration of the things that are being insured. I have shortlisted the 3 most important items:

  1. Medical expenses in overseas + follow-up treatment in Malaysia
  2. Travel cancellation and curtailment
  3. Loss of luggage/money/travel documents/credit card

Based on the criteria above, all 3 of the cheapest Extension plans do include the above with the only Exception that UOB x Liberty Insurance does not cover the follow-up treatment in Malaysia. Therefore, in terms of pricing and coverage, the ranking would be as follow:

  1. UOB x Liberty Insurance
  2. Kurnia Plan B
  3. Tune Protect

However, claiming process is also an important consideration. The easier and faster you can get a claim when something happens the better. But, let’s hope there is no need to claim it though. I’ve tried claiming from AXA once and the claiming process is not a pleasant experience. You can read about it here.

In addition, here are some notable mentions:

If you have any pleasant/unpleasant experience getting a claim, please feel free to share in the comments section below.

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