Which travel insurance is best? Experts explain 10 key details to check before choosing.

Many Hong Kong people love to travel, and destinations such as Japan, South Korea, Thailand, Taiwan and Singapore have long been popular choices among Hong Kong travellers. Travel insurance, like booking flights and hotels, is one of the items many people will always prepare before going on holiday or on a business trip. However, with so many travel insurance products available at different prices, which one is the best? Information on travel insurance recommendations varies widely, and consumers may find it difficult to know where to begin when comparing them. Therefore, 10Life actuaries compared more than 50 single-trip travel insurance products, and also compared over 30 annual travel insurance products. This article selects a range of single-trip travel insurance products for a detailed comparison, to make it easier for readers to choose. 

This travel insurance analysis is written from the traveller’s perspective, considering what travellers worry about most when they are away from home. If you fall ill or are injured, can you receive proper care immediately? If your trip is cancelled at short notice, can you get back the money you have prepaid for flights and hotels? Even in the event of a serious accident, can your family feel reassured? Based on these real and common concerns, 10Life has set out the key points to pay attention to when choosing travel insurance. This means that when you are trying to decide which one is better, you do not have to feel confused, but can clearly see which policy truly meets your needs and will lend a helping hand when you need it most, so that you can enjoy your trip with both happiness and peace of mind.

In analysing which travel insurance is better, Table 1 assumes that the insured person is an adult, with a 4-day trip to Japan. According to the ratings by 10Life actuaries, among the above travel insurance products, seven have an overall score of 8.5 or above, meaning their cover is relatively comprehensive. These are MSIG, BOC, Blue Cross, Generali, Allianz and Zurich, with both cheaper and more expensive options among them; not all higher-scoring products are more expensive.

In the study, 10Life found a significant difference in the maximum reimbursement for medical expenses among different travel insurance plans. Allianz has a coverage limit of HK$2 million, while BOC’s coverage limit is only HK$1 million, a difference of one times.

In addition, trip cancellation and curtailment cover is one of the main features of many travel insurance policies. Insurers mainly reimburse deposits or expenses already paid by the insured person but which cannot be refunded. For consumers, the higher the reimbursement limit, the better. The reimbursement limits vary across products: BOC’s product has a maximum reimbursement limit of HK$50,000, while QBE’s product has a maximum reimbursement limit of HK$30,000.

However, it is worth noting that if a trip is cancelled or cut short due to illness, the insurer may require the insured person to provide medical evidence when making a claim to confirm that they were unfit to travel or had to return to Hong Kong early to end the trip.  

Some travel insurance products have a low overall score but excel in individual cover items

The overall score is for reference only; readers should choose the travel insurance product that best suits their personal needs. In fact, we found that some travel insurance products may not have an outstanding overall score, but perform exceptionally well in individual cover items. Among the top three criteria with higher weighting, we selected two products from each for analysis to help readers understand the differences between products (see Table 3).   

Many consumers, in an effort to save money, often assume that the free travel insurance bundled with premium credit cards is sufficient; however, these free benefits usually come with a number of hidden limitations. The most common drawback is the relatively low level of medical cover, often providing only basic accidental medical reimbursement, which may be nowhere near enough for regions such as Europe and the United States, where medical expenses are high.

In addition, the eligibility criteria for credit card insurance are usually quite strict. For example, the card must be used to pay the full amount of the airfare or tour package for the cover to take effect, and the protection generally applies only to the cardholder, with accompanying family members not necessarily covered. More importantly, such insurance generally excludes high-risk activities such as skiing and diving, and even the compensation threshold for flight delays is often higher than that of standard paid insurance. 

When deciding between purchasing single-trip or annual travel insurance, the most direct consideration is, of course, how often you travel. In general, if you only plan to take one or two short trips within a year, single-trip travel insurance is undoubtedly the more economical choice, as you only pay for the actual number of travel days, and you can flexibly adjust the plan level according to the risk of each destination (for example, whether a higher level of medical cover is required).

However, if you are someone who frequently travels for business or enjoys spontaneous getaways, and you travel more than three times a year, then purchasing annual travel insurance is often more cost-effective than buying cover for each trip separately. It also saves you the hassle of having to arrange new insurance before every departure. That said, it is important to note that although annual travel insurance covers an unlimited number of trips within a year, it usually comes with a maximum trip duration for each journey, generally around 90 days. If you are planning an extended six-month trip or a working holiday, single-trip insurance (some of which can last up to 180 days) may in fact be your only option. 

Many travellers who have purchased travel insurance mistakenly believe that they are entitled to compensation as long as their flight is delayed. In fact, most travel insurance policies clearly state that trip delay must reach a specified number of hours, usually a continuous delay of five to six hours, before the insured person qualifies for a cash benefit or reimbursement on a reimbursement basis.

If the delay is caused by adverse weather, natural disasters or mechanical failure, which are factors beyond the insured person’s control, claims are usually easier to obtain. However, if the delay is due to administrative arrangements by the airline, some policies may not cover it. In addition, compensation is generally provided in two forms: “cash benefit” and “reimbursement”. The former pays a fixed sum for every set number of hours of delay, while the latter covers your additional accommodation or meal expenses incurred during the delay. Therefore, when you experience a delay at the airport, remember to ask the airline for written proof stating the reason for and duration of the delay. 

Luggage problems can often spoil an entire trip, but do not assume that buying travel insurance means you will be fully reimbursed. The devil is often in the details of “depreciation” and “limits”. When luggage is lost or damaged, insurers usually deduct depreciation when calculating the claim amount, which means that a branded suitcase or item of clothing you have used for several years will not be reimbursed at its original purchase price.

In addition, each policy sets a claim limit for “each item” or “each set” of belongings, usually around HKD 2,000 to HKD 3,000. Even if you lose a watch worth HKD 100,000, the maximum payout will still only be this limit. As for baggage delay cover, the key is “essential needs”. Most insurers will only reimburse basic daily necessities or clothing purchased during the delay period, rather than allowing you to go on a spending spree, and cover is only triggered once the delay has exceeded the specified number of hours, such as six hours. Therefore, it is best to carry valuables with you. If an incident does occur, be sure to keep photos of the damaged items and the incident report issued by the airline.  

In recent years, an increasing number of Hong Kong people have enjoyed taking part in various exciting activities while travelling. However, not all travel insurance policies automatically cover high-risk activities such as scuba diving, skiing or skydiving. Standard travel insurance plans on the market usually only cover sports undertaken on an “amateur” basis, and are subject to specific restrictions and exclusions.

Scuba Diving

Standard travel insurance may include “recreational diving”, but it usually imposes a maximum depth limit, for example, no deeper than around 30–40 metres. It may also require a licensed instructor or a recognised diving certificate. If it involves technical diving, cave diving or exceeds the specified depth, you will usually need to purchase additional cover for “hazardous activities” or “extreme sports”, or it may be entirely excluded.

Skiing

Skiing is generally classified as a high-risk winter activity and is not automatically covered by all travel insurance policies. Many products require an upgrade, or the purchase of a separate ski travel insurance plan that includes “winter sports”, in order to receive compensation for skiing accidents and related medical expenses.

Marathon Races

Many travel insurance policies exclude marathon running as a “sports competition or speed race in which any monetary gain or remuneration may be earned”. Even if you are taking part purely as an amateur for leisure, travel insurance generally tends not to cover marathons.

If you are planning to take part in a marathon, deep-sea diving or skiing, you must carefully read the “Exclusions” section in the policy terms before taking out insurance. If you are injured while participating in an excluded activity, the insurer has the right to رفض?

Insurance companies usually have strict requirements regarding the claim submission timeframe. Generally, the insured person must submit the claim form and relevant supporting documents within thirty days after the end of the journey; late applications are highly likely to be rejected. As for documentation, the requirements vary depending on the type of claim:

• Stolen personal property: a report must be filed with the local police within twenty-four hours of discovery, and a police report obtained
• Medical claims: the original diagnosis report issued by a doctor and the original medical receipts itemising the charges must be retained
• Flight delays: a delay certificate issued by the airline is required.

A common mistake many people make is losing their boarding pass or immigration records, which are in fact important evidence proving that you were abroad. Many insurance companies now offer online claims services. It is advisable to photograph all receipts and reports on your mobile phone during the trip as backup, to avoid having nowhere to turn after returning to Hong Kong if the documents are lost.  

“Deductible” is also known as excess, and refers to the amount the insured must bear themselves before receiving compensation. Although many high-quality standalone travel insurance plans currently market “zero deductible”, particularly for core cover such as medical expenses and personal accident, there are still many lower-cost plans or insurance policies included with bank credit cards that impose this clause.

For example, if your tablet is stolen and your policy has a HK$500 deductible under the property loss section, when you claim HK$2,000, the insurer will ultimately only pay HK$1,500. Whether a deductible exists directly affects the value of small claims; sometimes, if the loss is only slightly above the deductible, the cumbersome claims process may no longer be worthwhile. Therefore, in addition to comparing premiums, be sure to read the policy wording carefully to see whether such excess requirements are hidden in the terms, especially in areas such as rental car excess or personal belongings cover, so that you do not discover at the claims stage that the actual compensation received has been significantly reduced. 

This is a question asked by countless forgetful travellers when they arrive at the airport gate or even when they are already overseas, and the answer is usually a harsh “no”. The vast majority of travel insurance policy terms clearly stipulate that the policy must be purchased and take effect before the insured person leaves the Hong Kong immigration counter. Once you have already left Hong Kong, it means the journey has already begun; a policy taken out at that point will usually be regarded as invalid, and the insurer is entitled to refuse any liability. This is to prevent people from only “rushing to seek help at the last minute” to claim insurance money after an accident or illness occurs during their trip.

The only exception is where you have already purchased insurance, but for some reason need to extend your trip. In that case, you can usually apply to extend the coverage period before the original policy expires. Therefore, the safest approach is to buy insurance as soon as your flight and accommodation are confirmed, so that you can also enjoy pre-departure trip cancellation cover.  

Further reading:
How do you choose the right Japan travel insurance? 5 essential cover points to check
How do you choose the right Thailand travel insurance? Do island-hopping and snorkelling require additional cover?
How do you choose the right Taiwan travel insurance? A must-read before hiring a car for a round-island trip or heading off to explore the mountains and the sights

When choosing travel insurance, the medical coverage limit is absolutely the top priority. However, a higher figure is not always better; it should be determined according to the medical costs at your travel destination. If you are travelling to Asian destinations with relatively low medical expenses, such as Thailand, Taiwan or Malaysia, a medical cover of HK$500,000 to HK$1 million is generally sufficient to deal with most emergencies.

However, if your destination is a country where medical costs are extremely high, such as the United States, Canada, Europe or Japan, even a simple appendicitis operation with hospitalisation can easily cost hundreds of thousands of Hong Kong dollars, or even over HK$1 million. In that case, you must choose a plan with medical cover of at least HK$1 million or even HK$2 million or more, so as to avoid having to pay the huge difference out of pocket due to insufficient cover.

In addition, you should also check whether the policy includes emergency medical evacuation services and whether there is a cap on the cover amount, because if helicopter rescue in a remote area or a medical flight back to Hong Kong is required, the cost is often astronomical. Only “unlimited” evacuation cover can give you complete peace of mind.  

The vast majority of standard travel insurance policies classify “pre-existing conditions” as an exclusion. This means that if you already had a long-term condition such as high blood pressure, heart disease or diabetes before departure, and you require medical treatment during your trip due to a recurrence of that condition, the insurer is entitled to refuse to cover the related costs.

“Pre-existing” does not refer only to diagnosed conditions; it can also include situations where symptoms had already appeared before taking out the policy, but no medical attention was sought. Although a small number of travel insurance products that cover chronic conditions have begun to appear on the market in recent years, premiums are usually higher and underwriting requirements are stricter. Therefore, policyholders with long-term conditions must honestly declare their medical history before purchasing insurance, and carefully check the insurer’s specific definition of recurrence of pre-existing conditions. Do not conceal your condition in the hope that it will go unnoticed, as discovering at the point when you most need assistance that your policy is invalid would have disastrous consequences.  

Assuming the insured person is an adult, the trip duration is 4 days, and the destination is Japan

Further reading

• [Travel insurance mobile phone/computer/camera cover] Compare personal belongings cover across 15 popular travel insurance plans  
• [Diving and skiing insurance] Does travel insurance cover high-risk activities? What should you pay attention to when purchasing?  
• [Travel insurance Family Plan] Is it better value for a family to buy family travel insurance? Is the cover different?
• [Travel insurance] Compare trip delay cover across 15 products. Can flight delays be compensated up to $5,000? 
  
  Notes:   
  1. This article compares the higher-tier plans of the products.   
  2. The premium information above was updated on 17 April 2026 and does not include the levy collected by the Insurance Authority.   
  3. The last update date of this article is 17 April 2026.