Insurance for Travellers

There are many insurers in Malaysia offering Travel Insurance. There are several variations but the basic benefits are roughly the same such as :

  • individual PA
  • medical benefits
  • coverage on flight delay
  • coverage for loss of baggage
  • curtailment benefits
  • loss of cash

Just make sure that in the event of any mishaps such as those listed above, make a police report with the local authorities at your travel destination OR get the necessary documents from your the airline that you’re traveling with.

New insurance plan to protect travellers if trip is called off

PETALING JAYA: Local travellers will soon be able to get tour fare protection under a new insurance scheme endorsed by the Tourism Ministry.

This comes about five weeks after a tour company, Excellence Holidays Sdn Bhd, went bust, causing 336 travellers to lose RM2.4mil in total.

Those instrumental in creating the new scheme said the tour fare protection would cover travellers against services not rendered.

“This is not coverage against a company going bust. It will cover the traveller for up to RM10,000 if the tour package is not carried out for whatever reason,” said a source.

Apart from the tour fare protection, the scheme – which will cost RM15 per person – would also provide insurance against accidental death and permanent disablement (RM25,000), medical expenses (RM5,000), outpatient treatment (RM1,000), repatriation (RM15,000) and personal liability (RM100,000).

“The amount of coverage for the other components is not as high as other insurance packages but travellers are free to top up with any other travel insurance on offer,” the source said.

It is understood that scheme is targeted to be implemented by July 1, initially syndicated across four insurance companies.

“We are proposing to make it mandatory for all tour agents, upon registering or renewal of licence, to participate in this with the insurance premium rolled into the cost of the tour package,” the source said.

The source said the scheme was urgently needed with the rising negative perception and low confidence level of the travelling community towards the travel industry after the Excellence Holidays episode.

“There is also the increasing frequency of accidents happening to Malaysians travelling overseas.”

The insurance scheme, based on a proposal presented by Tahan Insurance (M) Berhad, would be managed via a joint venture between a private company, Timeless Vacation Sdn Bhd, and a wholly owned subsidiary company of the Tourism Ministry, Pempena Sdn Bhd.

Apart from protecting outbound travellers, the scheme would also protect foreign inbound travellers in the same manner with the insured amounts being slightly higher and the premium at US$15 (RM52).

Malaysian Association of Tour and Travel Agencies president Ngiam Foon welcomed the move, as it was good for the industry. However, he said the association would launch its own package that would also have tour fare protection, on June 19.

It was also reported that AXA Affin General Insurance Bhd has been providing cover for loss of deposit or payment made to travel agencies from June 1 with its SmartTraveller policy.

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