By MoneyBees
Estimate a travel insurance payout from your own policy's figures: the loss after the excess and wear and tear, up to the benefit limit, or a delay benefit per hours, plus GIA's claim steps and FIDReC limits.
It depends on your policy: the loss you can prove, less any excess, up to the limit for that benefit. For lost or damaged items the insurer may also cut the amount for wear and tear.
Either as cash for each block of hours delayed, up to a maximum, or as a refund of your expenses up to a maximum. GIA's example: S$100 for every 6 hours pays S$400 for a 24-hour delay.
Only the causes your policy lists, commonly strikes, riots or industrial action, adverse weather and mechanical breakdown. GIA notes that airline operational reasons such as crew rotation are not covered, and natural disasters often are not unless the policy names them.
It depends on the claim. GIA lists airline tickets, police reports, medical bills and reports, carrier irregularity reports and original receipts. Your insurer's website lists what each benefit needs.
Make a police report and keep receipts for what was lost. GIA says claims without supporting documents are adjusted for that uncertainty and for wear and tear. Loss caused by your own negligence is not covered.
Only if you do not travel because of an event named in the policy, usually within a set time before departure, often 30 days. Postponing a trip is not covered, and buying a policy after the event will not help.
Complain to the insurer, then appeal to its Chief Executive. If it is still unresolved, take it to FIDReC within 6 months of the insurer's final reply.
FIDReC can adjudicate claims up to S$150,000 each for cases filed from 1 Jul 2024. Mediation has no limit and filing is free; adjudication costs individuals S$50 plus GST.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).