- The best business travel insurance plans
- What Is Business Travel Insurance?
- The price of business travel insurance
- What does business travel insurance cover?
- The Conditions of Business Travel Insurance
- Why take out business travel insurance?
- How to choose the right business travel insurance
- Do your current insurance policies cover business travel insurance?
- FAQ
business travel insurance: key takeaways
1. Definition: Business travel insurance is for work trips, covering professional risks like lost equipment and trip interruptions.
2. Price: A one-week business policy for Europe from Singapore typically costs between SGD 80 and SGD 200.
3. Coverage: It covers medical emergencies and business equipment but often excludes pre-existing conditions and non-emergency work changes.
4. Bank cards and health insurances: Bank cards and health plans like MediShield Life offer limited coverage, often excluding business-specific risks.
5. Tips: Choose annual policies for frequent travel and ensure coverage matches your business equipment's value and destination.
6. Other useful info: For business owners in Singapore, insurance premiums are often considered a tax-deductible business expense.
Why trust HelloSafe ?
HelloSafe is an international specialist in travel insurance comparison, advising over one million travelers every month. After analysing 41 travel insurance policies available in Singapore, our experts share everything you need to know to choose the best business travel insurance.
The best business travel insurance plans
Here is a selection of the best business travel insurance plans available for Singapore residents in 2025. These options stand out for their high medical coverage limits, low deductibles and clear terms, making them suitable for frequent business travelers.
| Contract we recommend | Medical reimbursement | Deductible | Advantages |
|---|---|---|---|
| HelloTravel Premium | SGD 300,000 | SGD 100 | • Immediate documentation for visa requirements. • Fast claims for work devices. • 24/7 multilingual helpline. • Flexible trip duration cover. |
| Cap Assistance 24/24 | SGD 300,000 | SGD 100 | • Mobile app support. • Business equipment protection. • Rapid online claims. • Covers repeated short work trips. |
| Tourist Card | SGD 200,000 | SGD 150 | • Easy electronic submissions. • Includes document loss. • Medical and liability in one plan. • Recognized by major consulates. |
| World Travel | SGD 300,000 | SGD 200 | • Higher equipment limits. • Dedicated business hotline. • Group policy options. • Upfront payment for emergencies. |
| Globe Partner | SGD 250,000 | SGD 100 | • No premium increase for frequent travel. • Covers temporary staff and consultants. • Digital claims dashboard. • 24-hour worldwide assistance. |
| Globe Traveller | SGD 300,000 | SGD 150 | • Coverage up to 12 months. • Strong protection across Asia and Europe. • Competitive rates for SMEs. • No administrative restrictions. |
• Fast claims for work devices.
• 24/7 multilingual helpline.
• Flexible trip duration cover.
• Business equipment protection.
• Rapid online claims.
• Covers repeated short work trips.
• Includes document loss.
• Medical and liability in one plan.
• Recognized by major consulates.
• Dedicated business hotline.
• Group policy options.
• Upfront payment for emergencies.
• Covers temporary staff and consultants.
• Digital claims dashboard.
• 24-hour worldwide assistance.
• Strong protection across Asia and Europe.
• Competitive rates for SMEs.
• No administrative restrictions.
The best business travel insurance depends on individual requirements. Use HelloSafe’s travel insurance comparison tool to find the plan that fits you and subscribe directly online.
Compare the best travel insurance for freeI compareWhat Is Business Travel Insurance?
Business travel insurance is a specialised policy providing protection for those travelling for work, covering unique business-related risks during domestic and international trips.
It typically offers cover for medical emergencies, trip cancellation or interruption, lost or stolen business equipment, and personal liability.
This insurance is essential for professionals as it includes benefits for business documents, higher limits for devices, and fast claims to limit work disruption.
Business travel insurance is not the same as leisure travel insurance, which does not cover work-specific risks or equipment.
Expert advice
Here are the situations where taking out business travel insurance is especially important if you are travelling from Singapore:
- When you travel with valuable business equipment like laptops or phones.
- If trip cancellation means a significant financial loss for your business.
- For travel to countries with high medical costs like the USA.
- When your work involves potential personal liability risks with third parties.
- If you travel frequently for work, an annual policy is better.
- If a work emergency requires an urgent, unscheduled return to Singapore.
- To cover the replacement of critical business documents or samples.
The price of business travel insurance
On average, business travel insurance costs between 3% and 6% of the total cost of your trip.
| Trip | Trip cost | Indicative price per person |
|---|---|---|
| 3-day business trip to Kuala Lumpur | $1,000 | $30 to $60 |
| 1 week in Tokyo for a conference | $4,200 | $125 to $230 |
| 2 weeks in London visiting partner firms | $7,500 | $225 to $420 |
| 1 month multi-country Asia-Pacific sales tour | $14,000 | $400 to $800 |
These prices are provided as an indication and may vary depending on the type of plan chosen (standard or premium) and the specific conditions of each insurer.
The price of your business travel insurance depends on several factors:
- trip duration: longer business trips increase the insurance cost.
- destination: travel to countries with high medical expenses, such as the US, costs more.
- type and amount of coverage: higher limits and extra benefits raise premiums.
- traveler’s age: older professionals typically pay more for coverage.
- business equipment value: coverage for laptops and devices increases the price.
What does business travel insurance cover?
Business travel insurance is a specialised policy that protects professionals travelling for work-related purposes, ensuring uninterrupted work and financial security on business trips.
It provides broader coverage, tailored for higher-value items and unique business risks not found in leisure travel plans.
| Covered guarantee | Definition | Expert advice |
|---|---|---|
| ✈️ Trip cancellation | Covers unused business travel costs if the trip is cancelled for an approved reason. | Minimum $10,000 cover, maximum deductible $100. Change of mind and internal meeting rescheduling are excluded. |
| 🚗 Missed departure | Extra transport costs if you miss a connection for reasons beyond your control. | Choose at least $300, no deductible preferred. Not covered if you are responsible for the delay or lack proof. |
| 🎒 Business equipment loss | Covers laptops, phones, tablets and work equipment lost or stolen on a trip. | $5,000 minimum cover, deductible under $50. Wear and tear, software issues and non-reporting are excluded. |
| 🕒 Travel delay | Fixed cash compensation for long transport or flight delays. | At least $100 per 4–6 hours, no deductible. Delays under 4 hours or routine rescheduling are not covered. |
| 🏥 Medical expenses abroad | Key guarantee. Emergency treatment, hospitalisation and medical care when travelling. | Minimum $500,000, deductible under $100 advised. Pre-existing conditions and elective care are not covered. |
| 🚑 Medical evacuation & repatriation | Key guarantee. Evacuation to Singapore or nearby suitable care if required. | $500,000 minimum, unlimited cover is ideal. Non-urgent or traveller-refused evacuations are not covered. |
| 🦷 Emergency dental care | Pays for urgent dental work in case of accident or pain abroad. | At least $200, deductible under $30. Cosmetic or routine treatment is not included. |
| 🪪 Personal liability abroad | Covers damage or injury you cause to others while on business. | $500,000 minimum, deductible below $100. Intentional acts and injury to family or work colleagues are excluded. |
| 🧳 Baggage delay | Covers urgent essential purchases if checked baggage is delayed. | Minimum $200 after a 24 hour delay. Return-trip delays and claims without receipts are not covered. |
| 📄 Important documents | Pays for urgent replacement of vital business papers lost abroad. | Aim for $2,000 of protection. Digital files and generic materials are generally excluded. |
Change of mind and internal meeting rescheduling are excluded.
Not covered if you are responsible for the delay or lack proof.
Wear and tear, software issues and non-reporting are excluded.
Delays under 4 hours or routine rescheduling are not covered.
Pre-existing conditions and elective care are not covered.
Non-urgent or traveller-refused evacuations are not covered.
Cosmetic or routine treatment is not included.
Intentional acts and injury to family or work colleagues are excluded.
Return-trip delays and claims without receipts are not covered.
Digital files and generic materials are generally excluded.
Reimbursement limits vary depending on the insurer and the plan selected (eco, standard, premium). They must always be checked in the general terms and conditions.
To find the business travel insurance best suited to your needs and your trips, easily compare offers on HelloSafe.
The Conditions of Business Travel Insurance
To benefit from your business travel insurance coverage, certain conditions must be met.
- Policy purchase timing: you must buy the policy before your business trip begins, not during or after departure.
- Eligibility: the insured must be a Singapore resident or employee of a Singapore-based company at the policy start date.
- Business purpose: your trip must be primarily for work, such as meetings, training, or conferences, not for tourism.
- Trip duration compliance: each trip must not exceed the maximum period indicated in your policy, often 90 or 180 days.
- Destination restrictions: travel to countries under official travel bans or advisories may be excluded from coverage.
- Incident notification: you must inform the insurer promptly after any incident, usually within the time frame specified in your policy.
- Supporting documents: claims must be substantiated with original receipts, doctor’s reports, or official documentation as required.
- Exclusion checks: activities not related to business, pre-existing conditions, or unapproved side trips may void coverage.
Watch out!
Many professionals in Singapore mistakenly rely on their credit card's complimentary travel insurance. These policies often lack crucial business-specific benefits, like coverage for work equipment, trip cancellation due to work emergencies, or professional liability. Always verify the fine print to avoid being underinsured on your trip.
Why take out business travel insurance?
On business travel, sudden illness or accidents can generate very high costs, potentially affecting your health and finances if you are uninsured.
Here are some examples of healthcare costs abroad:
| Type of treatment | Average cost | Covered by insurance |
|---|---|---|
| Foot sprain (X-ray and consultation) |
| Up to 100%, policy limits apply |
| Medical repatriation |
| Usually covered up to 100% |
| Appendicitis surgery and hospitalisation |
| Up to 100%, subject to plan |
| Stitches after a fall |
| Typically covered in full |
| Emergency tooth extraction |
| Partial, often capped |
- Europe: $800 to $1,200
- North America: $1,500 to $2,500
- Asia: $300 to $800
- Europe: $15,000 to $50,000
- North America: $20,000 to $80,000
- Asia: $8,000 to $25,000
- Europe: $8,000 to $15,000
- North America: $25,000 to $50,000
- Asia: $3,000 to $10,000
- Europe: $600 to $1,000
- North America: $1,200 to $2,000
- Asia: $200 to $600
- Europe: $500 to $900
- North America: $1,000 to $1,800
- Asia: $200 to $500
Coverage varies greatly depending on the plan chosen (standard or premium) and the insurer. Refer to the general conditions and always compare with tools like HelloSafe.
Business travel insurance often goes beyond medical care, offering protection for business equipment, document loss, trip cancellation, personal liability, emergency evacuation and 24/7 global assistance. These features help professionals minimize business interruptions and financial loss while travelling.
Good to know
## Why take out Standard policies often exclude business equipment and work-related cancellations. Imagine a medical emergency in the US costing over $25,000. Protect your business assets and avoid crippling medical bills. A specialised plan from an insurer like ACS ensures you're covered, so you can focus on your objectives.
How to choose the right business travel insurance
Not all business travel insurance policies provide the same coverage or reimbursement limits, so it is important to compare key criteria before making a decision that fits your needs.
| Criterion | Why it matters | Expert tip |
|---|---|---|
| 💰 Reimbursement limits | Insufficient limits may leave you to pay out-of-pocket if a major incident occurs abroad. | Always select coverage that meets or exceeds the medical and equipment value needs of your business travel. |
| 📋 Policy conditions | Some policies limit certain benefits or only apply if conditions are met. | Review exclusions, time limits, and notification requirements to avoid surprises in claim denial situations. |
| 🧑💼 Traveller profile | Needs differ for employees, executives, or self-employed business travelers. | Match your coverage to your business role and responsibilities for truly effective protection. |
| 🧳 Business equipment cover | Lost or damaged laptops or devices may disrupt your work and result in high replacement costs. | Ensure your plan includes high limits for laptops, phones, and important devices taken on business trips. |
| 🌍 Geographic area | Business travel often covers regional or global destinations, each with unique risks and health cost structures. | Choose global coverage for multi-country trips or high-risk regions, not just the most frequent destination. |
| 🏢 Company policy compliance | Your employer may require certain insurance types or minimum limits for travel approval and expense reimbursement. | Coordinate with your HR or travel manager to ensure your plan is company-approved before purchasing. |
| 📆 Trip duration | Policies may exclude trips over a set duration, common for extended projects or training. | For long or repeated stays, choose annual or extended stay coverage to remain protected the entire period. |
| 🏥 Medical pre-existing conditions | Unreported conditions can lead to rejected claims or limited emergency support abroad. | Declare any health issues when applying for insurance for full medical protection if something happens. |
| 🔄 Claim processing speed | Delays in business claim settlements can impact cash flow and disrupt critical work. | Select insurers with fast-track claims for business policies to minimize downtime and reimbursement wait. |
Do your current insurance policies cover business travel insurance?
It is understandable to question whether your current insurance, such as credit card coverage or public health insurance, is enough for business travel, but it rarely meets the specific needs required.
Here is a summary table to help you review your current insurance and what it covers.
| Type of insurance | Business travel insurance included? | What it covers | Why Travel Insurance is better |
|---|---|---|---|
| Public health insurance (Medisave/Medishield) | Never | Emergency medical only, up to $15,000 SGD annually, hospital bills overseas only in specific cases. Does not cover business equipment, liability, or trip disruption. | Travel insurance covers up to $2,000,000 SGD, business equipment, liability, cancellation, faster claims, and business interruption. |
| Private health insurance (Great Eastern, AIA) | Almost Never | Overseas treatment up to $200,000 SGD, but excludes business property and professional risks. No business equipment, liability, or trip interruption coverage. | Travel insurance provides up to $2,000,000 SGD, plus business risks, devices, cancellation, repatriation, and travel liability. |
| Classic credit card (DBS Treasures, OCBC Premier) | Never | Medical cover ($100,000 – $200,000 SGD), baggage loss ($2,000 SGD), only if trip fully paid with card. No business-related guarantees or professional coverage. | Travel insurance reimburses up to $2,000,000 SGD, plus professional expenses, equipment, and specific business travel risks. |
| Premium credit card (Citibank Prestige, HSBC Premier) | Limited Coverage | Medical ($300,000 – $500,000 SGD), evacuation, limited business equipment ($1,000 SGD), but lacks business interruption. No high compensation for equipment or interruption. | Travel insurance can offer up to $2,000,000 SGD, full equipment protection, high liability, repatriation, and comprehensive risks. |
Does not cover business equipment, liability, or trip disruption.
No business equipment, liability, or trip interruption coverage.
No business-related guarantees or professional coverage.
No high compensation for equipment or interruption.
Expert advice
Bank card and health insurance often exclude key situations like trip interruption for a relative's illness. Always read the fine print to avoid nasty surprises abroad. In all cases, it is safer and more reassuring to subscribe a dedicated travel insurance tailored to the trip.
FAQ
Is business travel insurance mandatory?
Business travel insurance is not legally mandatory for all destinations, but it is required by certain countries as part of visa applications, especially for Schengen business visas. Even when not mandatory, it is strongly recommended—especially for trips involving expensive equipment or international meetings—since unforeseen events like medical emergencies or lost devices can cause major disruption and costs.
When is it recommended to purchase business travel insurance?
It is best to purchase business travel insurance as soon as your business trip is confirmed and before making any non-refundable bookings. This ensures you are covered for unexpected events, such as cancellations or last-minute emergencies, and gives you the greatest financial benefit by maximizing the coverage period.
How do I purchase business travel insurance?
1/ Compare: Use HelloSafe’s travel insurance comparison to find the best value.
2/ Check guarantees and exclusions: Carefully review business-specific conditions, such as equipment and trip interruption cover.
3/ Purchase online: Complete the application securely through the provider’s website.
4/ Receive the certificate: Your policy and confirmation are usually sent instantly via email.
Can I purchase business travel insurance after booking?
Yes, you can generally buy business travel insurance after booking your trip, but coverage for certain incidents—like cancellations—often only activates for events occurring after the policy’s start date. Purchasing early maximizes your protection.
How do I make a claim?
If you need to claim, contact your insurer as soon as possible and provide required documents, such as invoices, medical reports, or police statements. Most insurers allow you to submit claims online or via mobile apps, and prompt notification helps speed up processing.
Does business travel insurance cover my business equipment?
Yes, most business travel insurance plans include coverage for laptops, mobile devices, and important documents used during your trip. Always check the coverage limit, which can range from $5,000 to $15,000 SGD, and ensure you report losses quickly to avoid claims denial.
Are COVID-19-related disruptions included in business travel insurance?
Many current business travel insurance plans in Singapore now include specific benefits for COVID-19 disruptions, such as quarantine costs, border closures, or medical care. Review the fine print and consider pandemic add-ons to ensure complete protection for business trips.
Is business travel insurance mandatory?
Business travel insurance is not legally mandatory for all destinations, but it is required by certain countries as part of visa applications, especially for Schengen business visas. Even when not mandatory, it is strongly recommended—especially for trips involving expensive equipment or international meetings—since unforeseen events like medical emergencies or lost devices can cause major disruption and costs.
When is it recommended to purchase business travel insurance?
It is best to purchase business travel insurance as soon as your business trip is confirmed and before making any non-refundable bookings. This ensures you are covered for unexpected events, such as cancellations or last-minute emergencies, and gives you the greatest financial benefit by maximizing the coverage period.
How do I purchase business travel insurance?
1/ Compare: Use HelloSafe’s travel insurance comparison to find the best value.
2/ Check guarantees and exclusions: Carefully review business-specific conditions, such as equipment and trip interruption cover.
3/ Purchase online: Complete the application securely through the provider’s website.
4/ Receive the certificate: Your policy and confirmation are usually sent instantly via email.
Can I purchase business travel insurance after booking?
Yes, you can generally buy business travel insurance after booking your trip, but coverage for certain incidents—like cancellations—often only activates for events occurring after the policy’s start date. Purchasing early maximizes your protection.
How do I make a claim?
If you need to claim, contact your insurer as soon as possible and provide required documents, such as invoices, medical reports, or police statements. Most insurers allow you to submit claims online or via mobile apps, and prompt notification helps speed up processing.
Does business travel insurance cover my business equipment?
Yes, most business travel insurance plans include coverage for laptops, mobile devices, and important documents used during your trip. Always check the coverage limit, which can range from $5,000 to $15,000 SGD, and ensure you report losses quickly to avoid claims denial.
Are COVID-19-related disruptions included in business travel insurance?
Many current business travel insurance plans in Singapore now include specific benefits for COVID-19 disruptions, such as quarantine costs, border closures, or medical care. Review the fine print and consider pandemic add-ons to ensure complete protection for business trips.
