TRAVEL INSURANCE

I was in Bangkok from 31 August to 02 September 2006. On the 2nd night (a Friday), the laptop bag I was carrying was snatched from behind by 2 guys on a motorcycle. I was glad I had bought AIG Assist (Travel Insurance from AIG).

Amongst some electronic items, my passport was also inside the bag.
As the Singapore Embassy was closed, I had to extend my stay in Bangkok and reported to the Embassy only on Monday.

Luckily for me, AIG Assist covers my Travel Documents. It pays the Insured's (i.e. me) travel and hotel expenses including cost of obtaining replacement passports, travel tickets and other relevant travel documents. Loss of money (max $300) due to theft is also covered.

Additional 3 nights of hitel stay: $234 (approx)
Statutory Declaration at S'pore Embassy in Bangkok: $17 (approx)
Replacement of New Passport: $120
Extra Travelling Expenses: $50 (approx)
Total: $421
Plus Loss of money: $300

My claim from this section with AIG would total to about $731.00.

I made a check on NTUC Income website on their Travel Insurance (http://www.income.coop/insurance/travel/). Although NTUC Income covers loss of money up to $500 with an excess of $40, they do not cover the loss of travel documents. As such, a claim with NTUC Income would only be $460.00 in this case.

Although the premium for NTUC Income's Deluxe Plan is much cheaper at $21 for my 3 days' trip, the coverage is not as wide. If my passport was not inside the bag, then I would have been able to claim more if I had bought my travel policy from NTUC Income.

AIG's Superior Plan cost only $8 more at $29.
Thank God I did not choose my Travel Insurance based on cheaper premium.