DBS travel insurance review: Covid-19 coverage, promo codes, complimentary insurance and more
PHOTO: Pexels
PUBLISHED ONJuly 18, 2022 5:27 AMByClara Lim
It should surprise no one that DBS TravellerShield Plus, DBS’ travel insurance (or POSB’s travel insurance) is one of the most popular travel insurance brands in Singapore, since it’s so convenient for DBS and POSB customers to buy.
Well, you can’t fault us. Most Singaporeans are lazy to walk more than 100m for lunch, let alone scour the internet for the best travel insurance plan in town. Got buy? Very good liao.
Though the main DBS travel insurance plan DBS TravellerShield Plus is sold by DBS, the bank DBS isn’t actually the insurance provider. Instead, the real insurer behind the plan (called underwriter) is Chubb insurance. Why is this important? It’ll come in handy when you need to do claims.
Let’s have a closer look at it so you know what you’re actually buying.
1. DBS travel insurance summary
There are several ways you can buy travel insurance from DBS, and get DBS complimentary travel insurance. While the main DBS travel insurance plan is called DBS TravellerShield Plus (provided by Chubb), there are several other credit cards that gives you complimentary travel insurance.
Here are all the ways you can get DBS travel insurance:
- DBS TravellerShield Plus (by Chubb)
- DBS Travel & Leisure Marketplace: Make flights and overseas hotel booking to get complimentary DBS travel insurance
- You are a DBS Treasures Black Elite Card or DBS World Business Card credit cardholder
- You are a DBS Insignia Visa Infinite Card cardholder
2. DBS Chubb travel insurance: Coverage
The main DBS travel insurance plan is called DBS TravellerShield Plus. It comes in 3 plan tiers:
- Classic Plan (cheapest, lowest coverage)
- Premier Plan
- Platinum Plan (expensive, highest coverage)
DBS TravellerShield Plus has divided their insurance premiums into 4 categories:
- Region 1: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Thailand, Vietnam and Cruise to nowhere
- Region 2: China, Hong Kong SAR, Macao SAR, Taiwan, South Korea, Australia, New Zealand, Japan, India, Sri Lanka, Mongolia, Timor-Leste and including Region 1
- Region 3: Worldwide including Nepal, North Korea, Tibet, Region 1 and 2 but excluding Cuba, USA and Canada
- Region 4: Worldwide excluding Cuba
DBS Chubb Travel Insurance’s coverage, claim limits, and key benefits are as follow:
| DBS TravellerShield | Classic | Premier | Platinum |
| Price (Region 1) | $75/week | $89/week | $122/week |
| Price (Region 2) | $100/week | $118/week | $152/week |
| Price (Region 4) | $171/week | $201/week | $280/week |
| Medical Expenses (Overseas) | $300,000 | $500,000 | $1,000,000 |
| Emergency Medical Evacuation | $1,000,000 | $1,000,000 | $1,000,000 |
| Personal Accident (Death & TPD) | $150,000 | $200,000 | $500,000 |
| Trip cancellation | $5,000 | $10,000 | $15,000 |
| Baggage loss | $3,000 | $5,000 | $8,000 |
| Outdoor Adventure | Yes | Yes | Yes |
| Covid-19 | Yes | Yes | Yes |
DBS Travel Insurance is, by far, the most expensive travel insurance plan in Singapore with weekly premiums ranging from $75 to $280 – a whole lot more than MSIG Travel Insurance’s $201, NTUC Income’s $195, and Sompo’s $132.
A comparison of the most expensive travel insurance premiums in Singapore:
- DBS Travel Insurance: $75 to $280 per week
- MSIG Travel Insurance: $61 to $201 per week
- NTUC Income Travel Insurance: $61 to $195 per week
- Sompo Travel Insurance: $52 to $132 per week
Is DBS Travel Insurance’s coverage good? Given the price, DBS travel insurance actually offers comprehensive coverage for overseas medical expenses, emergency medical evacuation, and personal accident death – all the important things you would want covered in your travel insurance.
In terms of travel inconveniences such as trip cancellation, DBS offers $5,000 to $15,000 in coverage – very competitive and similar to that of MSIG’s and NTUC’s.
3. DBS travel insurance Covid-19 coverage
Surprisingly, DBS TravellerShield Plus travel insurance plan automatically includes Covid-19 coverage (Citibank’s travel insurance doesn’t) and has pretty decent Covid-19 coverage:
| DBS TravellerShield Covid-19 Coverage | Classic | Premier | Platinum |
| Overseas Medical Expenses | $50,000 | $100,000 | $200,000 |
| Overseas Hospitalisation Cash Benefit | $100/day (max $700) | $100/day (max $1,400) | $100/day (max $1,400) |
| Overseas Quarantine Cash Benefit | $100/day (max $700) | $100/day (max $1,400) | $100/day (max $1,400) |
| Emergency Medical Evacuation | $50,000 | $100,000 | $200,000 |
| Repatriation | $50,000 | $100,000 | $200,000 |
| Trip Cancellation | $2,500 | $5,000 | $7,500 |
| Trip Curtailment | $2,500 | $5,000 | $7,500 |
Compared to a popular travel insurance such as FWD Travel Insurance‘s Covid-19 offerings ($200,000 in medical expenses), DBS TravellerShield’s lowest-tier Classic plan ($50,000) may not give you sufficient hospitalisation coverage in the event you have to be hospitalised overseas due to Covid-19.
4. DBS complimentary travel insurance
There are three ways you can get complimentary travel insurance from DBS:
- DBS Travel & Leisure Marketplace: Make flights and overseas hotel booking to get complimentary DBS travel insurance
- You are a DBS Treasures Black Elite Card or DBS World Business Card credit cardholder
- You are a DBS Insignia Visa Infinite Card cardholder (DBS Treasures only)
Let’s go through each option briefly.
The DBS Travel & Leisure Marketplace complimentary travel insurance is provided by Chubb. You will need to purchase your travel airfare and hotel through the DBS Travel Marketplace online. Upon checkout, your complimentary travel insurance will be automatically activated.
Is the coverage any good? Don’t bear high hopes. Considering it’s a free travel insurance, the plan only comes in one tier with extremely low coverage.
Here are the benefits:
| DBS Complimentary Travel Insurance | Coverage |
| Price | Free |
| Personal Accident (Death, TPD) on transport | $200,000 |
| Travel Delay | $50/6 hours (max $150) |
| Baggage Delay | $50/6 hours (max $150) |
| Trip Cancellation | $500 |
It sounds great to hear and know that the free travel insurance includes Covid-19 coverage. However, on close inspection, you’ll realise the Covid-19 coverage is…. close to nothing.
| DBS Complimentary Travel Insurance (Covid-19) | |
| Overseas Medical Expenses (Covid-19) | $500 |
| Overseas Hospitalisation Cash Benefit (Covid-19) | $100/day (max 5 days, first 2 days non-payable) |
| Overseas Quarantine Cash Benefit (Covid-19) | $100/day (max 5 days) |
| Emergency Medical Evacuation (Covid-19) | $1,000 |
| Repatriation (Covid-19) | $1,000 |
| Trip Cancellation (Covid-19) | $500 |
| Trip Curtailment (Covid-19) | $200 |
What can you do with $500 of overseas hospitalisation medical expenses? Not even the admin fees. To be very honest, this DBS complimentary travel insurance is… as good as useless. Please do not rely on this free travel insurance while travelling.
DBS Treasures Black Elite Card, DBS World Business Card
If you’re a DBS Treasures Black Elite cardholder (DBS Treasures clients only) or DBS World Business cardholder ($80,000 annual income), you get complimentary travel insurance if you charge your “travel fares” (no mention of hotel or accommodation) to your credit card. Again, the travel insurance plan is underwritten by Chubb.
Compared to the above DBS Travel & Leisure Marketplace complimentary travel insurance, this free credit card travel insurance seems to offer way more value at first glance. $1,000,000 for accidental death? Great!
However, scroll down and you’ll see that the DBS Treasure Black Elite or DBS World Business cards’ complimentary travel insurance may not be sufficient either.
| DBS Complimentary Travel Insurance | Coverage |
| Price | Free |
| Personal Accident (Death, TPD) on transport | $1,000,000 |
| Overseas Medical Expenses (Accident) | $5,000 |
| Flight Delay (Connecting flights only) | $400 |
| Travel Delay | $400 |
| Baggage Delay | $400 |
| Baggage Loss | $1,000 |
| Covid-19 | No |
So, does it mean if you get any of these free DBS travel insurance, and then buy another best travel insurance plan, you’ll be greatly covered by two travel insurance plans – and will be able to claim from both plans?
No, no. Read through the terms and conditions and you’ll realise that in the event you have more than one travel insurance plan, most travel insurers will only allow you to claim from one travel insurance plan that has the higher claim limit.
These DBS complimentary travel insurance plans are great freebies to have. However, due to their terribly low coverage, you will definitely need to get another travel insurance plan anyway.
5. DBS Visa Altitude travel insurance
If you are a DBS Visa Altitude credit cardholder, you’ll remember that your sleek white card came with free travel insurance for many years. However, if you browse through the DBS Visa Altitude website, you’ll realise that the complimentary travel insurance perk has been removed.
Back then, if you charge your full travel fare to the DBS Altitude Card, you could get free travel accident coverage (i.e. a payout in the case of death or injury on public conveyance, e.g. airplane, train, car).
While it’s a nice freebie to have, this free coverage is not a substitute for the a comprehensive travel insurance. Free credit card travel insurance won’t cover important things like travel delays, overseas medical expenses, and emergency medical evacuation.
6. DBS travel insurance: Extreme sports outdoor adventure
If you’re planning any form of outdoor activity, such as scuba diving or skiing, you must check if your DBS Travel Insurance (or free travel insurance) has you covered.
Let’s go through each DBS travel insurance’s extreme sports and outdoor adventure coverage:
DBS TravellerShield Plus travel insurance:
| Outdoor Adventure | DBS TravellerShield Plus Travel Insurance |
| Hot air balloon | Premier, Platinum |
| Scuba diving, underwater | Premier, Platinum (PADI cert, max 30m) |
| Skiing and other ice, snow sports | Premier, Platinum (within ski resort) |
| Hiking or trekking | Yes (up to 3,000m) |
| Mountaineering, outdoor rock climbing | Premier, Platinum (up to 3,000m) |
| Marathons, competitions | Yes (no ultramarathons, biathlons or triathlons) |
| Jet skiing | Premier, Platinum |
| White water rafting | Premier, Platinum (up to Grade 4) |
| Skydiving | Premier, Platinum |
| Paragliding, hang gliding, parachuting | Premier, Platinum |
| Bungee jumping | Premier, Platinum |
| Helicopter (sightseeing) | Premier, Platinum |
Note that competitors like FWD travel insurance already cover most of these activities in their cheapest plans, so if you want to save money on your travel insurance, you should shop around for the coverage you want. If you’re taking part in contact or extreme sports, consider Direct Asia travel insurance‘s sports rider.
DBS Treasures Black Elite Card, DBS World Business Card:
No mention of any form of extreme sports or outdoor adventure in the policy wording‘s general exclusions.
7. DBS travel insurance promo code
Earlier on, we mentioned that DBS Travel Insurance is, by far, the most expensive travel insurance plans. But as with many a travel insurance policy, it’s the ongoing promotions that make prices attractive and more palatable.
DBS Travel Insurance currently has a 55 per cent discount promotion for all single trip plans. You don’t need any DBS travel insurance promo codes to get this discount. Discount is automatically applied online.
Here are the DBS Travel Insurance prices after the 55 per cent discount:
| DBS TravellerShield | Classic | Premier | Platinum |
| Price (Region 1) | $33.75/week | $40.05/week | $54.90/week |
| Price (Region 2) | $45/week | $53.10/week | $68.40/week |
| Price (Region 4) | $76.95/week | $90.45/week | $126/week |
After discount, considering the comprehensive overseas medical coverage and Covid-19 coverage it gives, DBS travel insurance’s highest tier Platinum plan is actually very value for money.
8. DBS travel insurance claim review
Remember at the start of this article we mentioned that DBS travel insurance is actually provided for by Chubb. This piece of information matters to you because when it’s time to put in a claim, you need to file your claim (or call the emergency hotline) with Chubb.
Chubb has its own Chubb Assistance service for travel insurance holders.
DBS Chubb Travel Insurance Emergency hotline: +65 6836 12922 (24-hour)
DBS Chubb Travel Insurance Claim hotline: Chubb customer service hotline +65 6398 8797 (Mon – Fri, 9am to 5pm, no PH)
DBS Chubb Travel Insurance Online claims: Submit your claims and supporting documents online via Chubb
DBS Chubb Travel Insurance Claim due date: Claims must be made within one month of your return to Singapore
Although there aren’t many Singapore reviews of Chubb’s claims process, the Swiss-based insurance company has good worldwide reputation for smooth claims.
9. Should I buy DBS travel insurance?
If you’re thinking of getting DBS Travel Insurance to boost your DBS Multiplier savings account bonus interest rate, don’t. That’s because if you were to go through the list of eligible DBS Multiplier transactions, DBS Travel Insurance is not one of them.
Coverage-wise, the cheapest plan from DBS is adequate for, say, a shopping trip to Bangkok or a relaxing tour of Japan. It also covers leisure hikes up to 3,000m, so it’s fine if you want to climb Mount Ophir too.
But if you want to do outdoor activities like scuba diving, skiing or even skydiving, you will need to upgrade to the middle or higher tier plan to get covered.
Unfortunately, DBS doesn’t make this limitation in coverage clear from the outset – you need to do a super close reading of the FAQ or policy wording to figure that out. Minus points for that.
This article was first published in MoneySmart.