What is Travel Insurance and What are Your Top Options?

Travel is more than getting from one destination to another. Whether you're taking your first international trip, bringing your family on a long-awaited vacation, visiting loved ones abroad, or working overseas, every journey comes with important financial decisions.

While most trips go as planned, unexpected events such as flight cancellations, lost baggage, medical emergencies, or travel disruptions can quickly become expensive. Travel insurance helps protect both your travel investment and your financial well-being.

In this guide, we'll explain how travel insurance works, what it covers, who needs it, and how to choose coverage that fits your travel goals.

What is Travel Insurance and Why is it Important?

Travel insurance is a type of non-life insurance designed to help protect travelers from the financial impact of unexpected events before or during a trip. Whether you're traveling for a family vacation, business trip, study program, or a long-awaited overseas adventure, travel insurance can provide support when things don't go according to plan.

Depending on your policy's coverage, travel insurance may help cover eligible expenses related to the following:

trip cancellations
flight delays
lost or delayed baggage
medical emergencies
accidents
other travel-related disruptions

Some providers also offer cashless arrangements with accredited hospitals and service providers, allowing travelers to access assistance without paying large out-of-pocket costs upfront.

Ultimately, travel insurance is not just about protecting your trip — it's about protecting the time, money, and plans you've invested in making that trip happen.

What Does Travel Insurance Cover?

Now that you have the answer to the question, “What is travel insurance?” you may be wondering about its inclusions. Depending on your insurer and package, the benefits of travel insurance include the following:

Protects your travel budget - Unexpected cancellations, delays, and missed connections can lead to additional expenses. Travel insurance helps minimize the financial impact of these disruptions.
Helps manage medical emergencies abroad - Healthcare costs in other countries can be significantly higher than in the Philippines. Travel insurance can help cover eligible emergency medical expenses.
Provides support during travel disruptions - Travel assistance services may help travelers navigate emergencies, lost documents, flight issues, and other unexpected situations.

On top of the abovementioned benefits, the insurer may offer 24/7 hotline services should you encounter any inconvenience or problem that is covered by your insurance.

How Does Travel Insurance Work?

Say you encounter a travel problem or get sick during your vacay. How will you be able to enjoy the benefits of travel insurance?

Here’s how travel insurance works:

Contact your travel insurance company’s 24/7 hotline to inform them of the incident. You may also get in touch with them via email.
The insurance company or its counterpart (in case you’re abroad) will ask you for the details of your incident. The insurer will also advise you to settle all the expenses you’ve incurred first.
Once you’ve confirmed your case, the insurance company will then also ask you to submit certain documents. These may include medical reports, receipts, and the like.
The insurer will review your case. Depending on your case, they may get back to you after a few weeks.
After the investigation, you will receive a confirmation that your claim has been accepted. Otherwise, you’ll receive a rejection letter explaining the reason behind it.

Note: Alternatively, you can file a claim by completing the application form on your insurer’s website.

How Much is Travel Insurance in the Philippines?

The cost of travel insurance is surprisingly affordable. The premium starts between ₱200 to ₱1,000. But the final travel insurance price in the Philippines will depend on the number of inclusions, your destination country, and the length of your stay.

When Should I Get Travel Insurance?

Not every trip carries the same level of risk, but travel insurance can be especially valuable when you've invested significant time, money, and planning into your journey. Whether you're traveling for leisure, work, education, or family reasons, having the right coverage can help protect you from unexpected expenses and disruptions.

Consider getting travel insurance if any of the following apply to your trip:

✔️ If You Don't Have Life or Health Insurance

Travel insurance can provide an extra layer of protection for travelers who don't have existing life or health insurance coverage. While no one expects to encounter emergencies during a trip, having financial support for eligible medical expenses, accidents, or emergency situations can offer valuable peace of mind — especially if you have loved ones who depend on you.

✔️ International Trips

You need insurance each time you travel abroad. Although you might already have a life or health insurance policy, your medical expenses might not be covered if you get hospitalized overseas. Only a few life insurance policies in the Philippines cover hospitalization and medical treatments abroad.

Medical costs in foreign countries can be expensive, too. You can’t always tell if you’ll have enough cash for out-of-pocket medical expenses. This is where travel insurance in the Philippines comes in handy, as you won't have to be burdened as much when paying for medical bills while on an overseas trip.

✔️ You're Traveling with Family, Children, or Senior Citizens

Family vacations often involve higher travel costs and more moving parts. If a family member gets sick, misses a flight, or encounters a medical emergency, travel insurance can help reduce the financial impact of unexpected events. It can be particularly valuable when traveling with young children or older family members who may require additional support.

✔️ Schengen Visa Application

Filipinos traveling to Europe are required to buy a travel insurance policy before applying for a Schengen visa.

Travel insurance for a Schengen visa should cover the entire period of stay in all member states of the Schengen Area, regardless of the purpose of visit (e.g., tourism, business, education, etc.), with a coverage of at least €30,000 (approximately ₱1.8 million) for medical emergencies, hospitalization, and repatriation in case of death.

Also, the insurance policy should come from an accredited Schengen-compliant insurance company in the Philippines.

✔️ Expensive Trips with Prepaid and Non-Refundable Expenses

If you've already paid for flights, hotels, tours, cruises, or other travel arrangements, travel insurance can help protect your travel investment. Depending on your policy, you may be reimbursed for eligible prepaid and non-refundable expenses if your trip is canceled or interrupted due to covered reasons.

✈️ Book Your Trip Now, Pay Later with UnionBank Personal Loan!

UB PL Generic Ad (Sep 2023) 1200x350 CTA

Fulfill your travel goals without worrying about your budget. UnionBank has got your back! You can easily apply online for a UnionBank Personal Loan—no collateral needed—and get extra cash for booking your trips. Borrow up to ₱2 million and have your loan disbursed in as fast as 24 hours!

When is Travel Insurance Unnecessary?

Even though travel insurance in the Philippines is useful in many cases, it's not always worth the extra cost. Here's when you can skip the insurance for your trips:

❌ You're Traveling for Cheap (or Free)

If you're just visiting your relatives in the province, you won't likely have to pay for food, accommodation, and other travel costs, because chances are, you'll be staying with family members. Buying travel insurance in this case might not be a good idea.

Yes, there's a risk of losing money, but the amount is relatively inconsequential compared to how much you can lose during an overseas trip. Purchasing insurance every time you go on a trip, no matter how short the distance, might cost you more in the long run, defeating the purpose of travel insurance.

As a rule of thumb, try to see the bigger picture first. Check if the benefits you can claim when the need arises are worth more than the costs you’ll shell out if you get travel insurance.

❌ Your Credit Card Provides Travel Insurance

Some credit cards offer free travel insurance as a benefit. An example is AIG travel insurance, which is offered as one of the benefits available to Visa Infinite cardholders who use their card to make land, sea, or air travel purchases.

Check if your card comes with travel insurance and know its specific coverage. You might be getting duplicate coverage if your credit card has sufficient coverage for any travel inconvenience and accident.

If you have a car insurance policy, check it as well to see if its coverage includes theft protection and rental car collision benefits. You don't want to pay extra for travel insurance when your existing car insurance policy already covers any unexpected road mishap.

❌ You Have Life or Health Insurance

If your life or health insurance also covers incidents during trips, you may want to skip travel insurance. To know if you have this coverage, refer to your policy or talk to your agent.

❌ You Have a Pre-Existing Condition

You may want to think twice about getting a travel insurance policy if you have a pre-existing medical condition. Many policies have a clause that keeps those with pre-existing conditions from availing of emergency and hospitalization benefits.

Nevertheless, you may still get travel insurance to cover other incidents, such as trip cancellation, flight delay, and lost baggage.

List of Travel Insurance Providers in the Philippines

If you’re not sure where to get travel insurance in the Philippines, check out this list of travel insurance providers.

📌 OONA

Premium: Starts at ₱299
COVID-19 coverage: Available
Benefits:
- Accidental death and permanent disability benefit
- Personal liability benefit
- Medical expenses and hospitalization benefit
- Baggage delay benefit
- Trip cancellation benefit

MAPFRE Insurance, which has rebranded to OONA,^[1] offers different coverage options for travelers. For its domestic travel insurance, you get protection and coverage for trips within the Philippines with a coverage period of up to 90 days. Meanwhile, the international travel insurance option provides coverage for trips around the world with a coverage period of up to 365 days or one year.

OONA travel insurance includes personal liability and death benefits. Its travel assistance services cover not only medical expenses but also lost luggage, trip cancellation, and repatriation of mortal remains in case the insured dies during the trip.

📌 Prudential Guarantee

Premium: Starts at ₱361
COVID-19 coverage: Available
Benefits:
- Medical and accidental benefits
- Daily hospital confinement allowance
- Compassionate visit
- Trip cancellation and termination
- Flight delay
- Aircraft skyjacking

Prudential Guarantee’s PGAI Travel Shield^[2] comes in domestic and international plans. Regardless of the plan you get, benefits include medical and accidental benefits, worldwide assistance benefits, and travel inconvenience benefits.

If you’re traveling locally, your medical expenses (including COVID-19 coverage) is up to ₱1 million. You also get a daily hospital confinement allowance of ₱1,000 per day for a maximum of 20 days.

The standard international medical benefits are the same as the above. But if you choose to get a comprehensive plan, you can get coverage of up to ₱2.5 million in medical expenses (including COVID-19).

📌 PGA Sompo

Premium: Starts at ₱463
COVID-19 coverage: Available
Benefits:
- Personal accident and liability
- Medical expenses
- Evacuation and repatriation
- Trip cancellation
- Loss of travel documents
- Strikes and hijacking

PGA Sompo’s TravelJOY^[3] offers a wide range of travel insurance inclusions, ranging from medical expenses to strikes and hijacking. It also comes with a COVID-19 cover.

Planning to go to Europe? TravelJOY has a Schengen Visa-accredited travel insurance policy. This has been expanded to other countries, such as the UK, Ireland, Turkey, Scandinavia, Baltic States, European Russia (Moscow and Saint Petersburg), and the Euro Zone countries.

Like other insurance companies, PGA Sompo employs paperless policies. That way, you can view your policy via your mobile phone or computer.

TravelJOY also uses a cashless system. This means you won’t need to settle your bill with the hospital. The insurer will take care of the hospitalization and emergency treatment.

📌 Standard Insurance

Premium: Starts at ₱350
COVID-19 coverage: Available
Benefits:
- Medical expense and personal accident benefit
- Cashless settlement
- Coverage for illnesses and accident-related claims
- Accredited by embassies of all Schengen states

Standard Insurance^[4] offers comprehensive travel insurance policies for both local and international travelers, named Travel LOCAL and Travel International respectively.

Travel LOCAL features a reimbursement type of settlement. As its name suggests, it provides coverage for travelers within the Philippines. You also get up to ₱500,000 limit on medical expense benefits. If you’re traveling with a group, you may enjoy discounted rates.

Travel International, on the other hand, offers a cashless settlement. With this package, you get up to ₱2.5 million cover for medical expenses and personal accident benefits.

📌 Malayan Insurance

Premium: Starts at ₱408
COVID-19 coverage: Available
Benefits:
- Personal accident benefit
- Personal liability benefit
- Travel expenses recovery
- Travel assistance benefit
- Car rental protection

Which travel insurance should you get if you want complete assurance? Check out Malayan Insurance’s Travel Master.^[5] It offers extensive personal accident coverage, which even includes terrorism and unprovoked murder. For its emergency medical treatment, it covers non-pre-existing illnesses and follow-up care.

Moreover, Travel Master has COVID-19 coverage. The policy’s cashless hospitalization feature allows you to use the insurance like an HMO. Value-added benefits include free insurance coverage for damage to rented cars and treatment and assistance for incidents resulting from sports activities.

You can get a Travel Master Asian Essential Plan at ₱408.

📌 FPG Insurance

Premium: Starts at ₱770
COVID-19 coverage: Available
Benefits:
- Medical treatment and expenses
- Trip cancellation
- Trip curtailment
- Luggage delay
- Personal liability

FPG Insurance’s MyTravel Mate^[6] accommodates both local and international travelers. Its wide range of benefits includes medical treatment and expenses (including COVID-19), trip cancellation, personal accident, emergency dental care, first medical assistance, delayed departure, and missed connecting flights, among others.

If you travel multiple times a year, you can avail of the company’s multi-trip and annual multi-trip packages. Cost starts at a little over ₱8,900 for 180 days (multi-trip up to 90 days per trip).

Compared to other travel insurance policies, FPG insurance can cover travelers up to 80 years old.

📌 Etiqa

Premium: Starts at ₱260
COVID-19 coverage: Available
Benefits:
- Medical and hospitalization expenses
- Hospital allowance
- Medicine delivery
- Personal liability
- Missed connecting flight
- Baggage delay

Etiqa is an award-winning ASEAN insurer that provides all types of life and non-life insurance products. It’s a technology-driven insurance company with international experience and deep local knowledge in Southeast Asia. In fact, it’s known as a pacesetter in the digital insurance niche in Singapore and Malaysia.

Despite all its accolades, Etiqa offers affordable insurance products. If you’re looking for the cheapest travel insurance in the Philippines, Etiqa is the provider for you.

This insurance company can protect you against unforeseen events like flight cancellations, medical emergencies, and vehicle accidents while traveling—all for a relatively small premium. And in case of death, the insurance will cover the repatriation of mortal remains.

Whether you’re traveling solo or with your family, you can avail of Etiqa’s comprehensive but cost-effective travel assistance plan, which is available for clients aged 0 to 80. Additional COVID-19 coverage is also available for clients up to age 65 who are traveling internationally.^[7]

📌 AXA

Premium: Starts at ₱275
COVID-19 coverage: Available
Benefits:
- Personal accident benefit
- Travel inconvenience benefits
- Medical and evacuation expenses
- Personal liability benefit
- 24-hour travel assistance

AXA is known for cheap but good travel insurance in the Philippines with decent coverage. Among the benefits you can enjoy are 24/7 emergency travel assistance wherever you are in the world, comprehensive medical benefits (with COVID-19 coverage), refunds for pre-booked travel expenses, protection on personal belongings, and personal accident benefit.^[8]

AXA’s travel insurance covers domestic and international trips. You can also enjoy discounted rates if you and your family or friends purchase a Group Plan.

In case your travel plans include five or more trips per year, the Annual Multi-Trip plan will provide coverage for less.

📌 Pacific Cross

Premium: Starts at ₱355
COVID-19 coverage: Available
Benefits:
- 24/7 worldwide emergency assistance
- Medical coverage
- Cashless medical treatment
- Coverage for baggage loss, loss of travel documents, and flight delay
- Personal accident benefit
- Personal liability
- Trip termination

Pacific Cross is one of the leading insurers in Southeast Asia. Based in the Philippines, the company also has offices in other ASEAN countries like Thailand, Indonesia, and Vietnam.

If you’re traveling for business or pleasure, you can get the Travelsafe Tripguard, which includes COVID-19 coverage. If you’re a frequent traveler, get the Travelsafe Annual. Or if you’re taking short trips and need group travel insurance, go for the ShortSecure.

There’s also travel insurance available for seniors: Travelsafe with COVID-19 coverage (senior plans). Apart from these, there are a couple more options to choose from.^[9]

Pacific Cross travel insurance in the Philippines offers peso, dollar, and euro plans as well as individual, family, and group coverage. The Travelsafe Tripguard covers persons 15 days old to 75 years old.

📌 Chubb

Premium: Starts at ₱466
COVID-19 coverage: No
Benefits:
- Medical necessary expenses benefit
- Hospital confinement allowance
- Personal accident
- Emergency medical evacuation and repatriation
- Compassionate visit
- Travel inconvenience benefits
- 24-hour worldwide assistance services

If you’re looking for medical travel insurance in the Philippines, this is the provider to ring up. Whether you’re a first-time traveler taking your whole family on vacation or a frequent flyer going on a solo trip, you’ll find a plan option that suits your needs at Chubb Travel Insurance in the Philippines.^[10]

Chubb provides access to a global network of travel professionals with local expertise, so you can be sure you’re getting insightful support on your travel insurance needs. Moreover, it prides itself on its fast, efficient, and proactive handling of claims.

The specifics of how to get travel insurance in the Philippines through Chubb are pretty standard. You can call its hotline to make arrangements or get assistance. Then you can accomplish its Online Claim Form with the required supporting documents within 30 days of the incident.

📌 Starr

Premium: Starts at ₱496
COVID-19 coverage: Available
Benefits:
- Medical expenses benefit
- Accidental death
- Overseas hospital cash
- Burns benefit
- Baggage delay
- Travel delay
- Trip cancellation

Starr is one of the most trusted agencies in Asia, having established branches in China, Vietnam, Indonesia, Malaysia, and the Philippines. The local branch possesses an A rating from the A.M. Best Company.

Starr’s travel insurance plans apply to domestic and international trips. Covers include travel inconvenience, medical treatment, trip cancellation, travel delay, lost baggage, hospital cash, loss of travel documents, and Emergency Assistance Services.

One unique aspect of Starr’s travel insurance is that it covers loss of credit card. It also has amateur sports coverage.

📌 Alliedbankers Insurance Corporation

Premium: Starts at ₱227.94
COVID-19 coverage: Available
Benefits:
- Personal accident benefit
- Accidental burial benefit
- Repatriation of remains
- Hospital allowance
- Trip cancellation
- Loss of personal money overseas

Alliedbankers Insurance Corporation is the non-life insurance company of the Lucio Tan Group. It offers Travel Smart, a comprehensive travel insurance for domestic and international travelers.

Primary features include personal accident and accidental burial benefits worth up to US$50,000 or around ₱2.8 million as of this writing. Hospital-related benefits include medical necessary expenses which are issued cashless, compassionate visit, and return of minor children.

Travel Smart’s other coverage includes rental vehicle protection, personal liability with legal expenses, and extension of trip period.

Compare Top Travel Insurance Policies in the Philippines

To make it easier for you to choose the most suitable policy, here’s the list of travel insurance providers in the Philippines. It also includes what is covered and the projected benefits.

Provider	Premium Starts at	COVID-19 Coverage	Personal Accident	Medical Coverage	Trip Cancellation	Baggage Delay	Personal Liability
OONA Insurance	₱299	✔️	Up to US$80,000	Up to ₱1 million	Up to US$100,000	Up to US$200	Up to US$80,000
Prudential Guarantee	₱361	✔️	Up to ₱2.5 million	Up to ₱2.5 million	Up to ₱200,000	Up to ₱4,000 after first six hours	Up to ₱1 million
PGA Sompo	₱463	✔️	Up to ₱1 million	Up to ₱1 million	Up to ₱70,000	Up to ₱5,000	Up to ₱1 million
Standard Insurance	₱350	✔️	Up to ₱2.5 million	Up to ₱2.5 million	Up to ₱80,000	Up to ₱6,000	Up to ₱1.5 million
Malayan Insurance	₱408	✔️	Up to ₱1 million	Up to ₱2.5 million	Up to ₱50,000	Up to ₱5,000	Up to ₱1 million
FPG Insurance	₱770	✔️	Up to ₱5 million	Up to ₱5 million	Up to ₱100,000	Up to ₱5,000	Up to ₱1.5 million
Etiqa	₱260	✔️	Up to ₱1.5 million	Up to ₱2.5 million	Up to ₱25,000	Up to ₱25,000	Up to ₱500,000
AXA	₱275	✔️	Up to ₱5 million	Up to ₱3.5 million	Up to ₱200,000	Up to ₱50,000	Up to ₱2 million
Pacific Cross	₱355	✔️	Up to ₱1.5 million	Up to ₱2.5 million	Up to ₱60,000	Up to ₱3,000	Up to ₱1 million
Chubb	₱466	None	Up to ₱2.5 million	Up to ₱2.5 million	Up to ₱200,000	Up to ₱20,000	Not specified
Starr	₱496	✔️	Up to ₱1.2 million	Up to ₱2.5 million	Up to ₱150,000	Up to ₱5,000	Up to ₱2.5 million
Alliedbankers Insurance Corporation	₱227.94	✔️	Up to US$50,000	Up to US$50,000	Up to US$4,000	Up to US$2,500	Up to US$50,000

How to Choose Travel Insurance in the Philippines

The best travel insurance isn't necessarily the cheapest or the one with the most benefits — it's the policy that matches your travel plans, budget, and protection needs. Before purchasing coverage, take time to compare your options and evaluate what matters most for your trip.

👉 Check the Coverage

Start by considering the type of trip you're taking and the risks you're most likely to encounter. If you're traveling overseas, look for policies that include emergency medical treatment and hospitalization benefits. Features such as medical evacuation, emergency assistance, and repatriation can also provide valuable support during serious emergencies abroad.

Beyond medical coverage, consider common travel disruptions such as flight delays, trip cancellations, lost baggage, and misplaced travel documents. If you're planning adventure activities, cruises, or sports-related trips, check whether these are covered or require additional protection.

👉 Understand What's Not Covered

Travel insurance can provide important financial protection, but no policy covers every situation. Before purchasing a plan, review the exclusions carefully so you'll know what circumstances may not qualify for benefits.

Depending on the provider, exclusions may include pre-existing medical conditions, certain high-risk activities, pregnancy-related claims, incidents involving drugs or alcohol, acts of war, and travel to countries under travel advisories or restrictions. Understanding these limitations can help you avoid surprises if you need to file a claim later.

👉 Balance Cost and Coverage

While travel insurance is often a small portion of your overall travel budget, it's still important to get value for your money. Compare plans based on both price and coverage rather than focusing solely on the lowest premium.

A cheaper policy may offer fewer benefits or lower coverage limits, while a more comprehensive plan can provide greater financial protection against costly travel disruptions. Consider how much you're investing in your trip and choose a policy that gives you confidence without stretching your budget.

👉 Consider How Often You Travel

Your travel frequency can help determine which type of policy makes the most sense.

If you travel several times a year for work, leisure, or family visits, an annual multi-trip plan may offer better value and convenience. Instead of purchasing coverage for every trip, you'll have ongoing protection throughout the policy period.

If you only travel occasionally, a single-trip policy may be the more practical choice. Regardless of the option you choose, make sure to review the maximum trip duration allowed under the policy.

👉 Ask About the Claims Process

Alongside the travel insurance price in the Philippines, the claims process is a crucial factor you should look into. After all, you’re talking about money here.

You can ask your agent about it. Better yet, read reviews on social media and various discussion boards.

Before purchasing a policy, consider:

Your destination - Healthcare costs and travel risks vary by country.
Length of stay - Longer trips may require broader coverage.
Travel budget - The larger your travel investment, the greater the potential financial impact of cancellations or disruptions.
Who you're traveling with - Families, seniors, and groups may have different coverage needs compared to solo travelers.
Planned activities - Adventure sports and certain activities may require specialized coverage.

Final Thoughts

Every trip represents an investment of time, money, and memories. Whether you're taking your first overseas vacation, planning a family getaway, or returning home from abroad, the best travel insurance in the Philippines can help protect your finances from unexpected setbacks.

The right coverage won't prevent travel disruptions from happening, but it can help you recover from them with less financial stress. By understanding your travel needs and comparing your options carefully, you can make a more confident decision before your next journey.

Avail of a travel insurance policy via Moneymax

Sources:

Travel Without Worries: What is Travel Insurance and Where to Get One

Venus Zoleta