Singapore’s Trust Bank, in partnership with Income Insurance, has launched a new travel insurance product called “TravelShiok.” This policy redefines travel protection by offering unique coverage for unused entertainment tickets, shopping purchases, and baggage. It is designed for modern travelers in Singapore who want peace of mind for every aspect of their trip, from concert plans to new gadgets.
A New Kind of Protection for Entertainment and Events
Trust Bank’s TravelShiok insurance introduces a standout feature rarely seen in the market: coverage for unused entertainment tickets. This is a game-changer for travelers who plan their trips around concerts, theme parks, or major sporting events.
If a trip is cancelled for a covered reason, travelers who booked event tickets with their Trust card can get their money back. This unique benefit provides a financial safety net, ensuring that unexpected disruptions don’t lead to a loss on non-refundable tickets. Given Singapore’s status as a hub for international entertainment, this feature directly addresses the lifestyle of many residents.
Comprehensive Baggage and Shopping Coverage
Losing luggage or a valuable gadget can ruin a trip. TravelShiok addresses this common traveler anxiety with robust baggage coverage. The policy provides up to S$8,000 for lost or damaged baggage, which specifically includes high-value items like laptops and mobile phones.
The protection extends beyond your luggage to your shopping bags. Any items purchased with a Trust card are covered for up to S$3,000 against accidental damage for 30 days after purchase. This gives travelers confidence when shopping abroad, knowing their new purchases are protected.
| Coverage Type | Protection Limit | Key Details |
|---|---|---|
| Entertainment Tickets | Full Value | For unused event tickets booked with a Trust card. |
| Baggage & Gadgets | Up to S$8,000 | Covers lost or damaged items, including laptops and phones. |
| Purchase Protection | Up to S$3,000 | For accidental damage to items within 30 days of purchase. |
Enhanced Benefits for Trip Disruptions and Medical Needs
TravelShiok also offers strong protection against common travel problems. The policy includes high coverage limits for trip postponements, interruptions, and last-minute cancellations due to unforeseen circumstances. This ensures travelers are not left out of pocket when plans go wrong.
Beyond trip logistics, the insurance provides essential support for emergencies on the road. The plan includes several other critical benefits to give travelers complete peace of mind.
- An overseas hospital allowance for unexpected medical needs abroad.
- Coverage for the loss of important travel documents like passports.
- Rental vehicle excess cover to handle unexpected car rental charges from accidents.
These features make the policy a comprehensive solution for various travel scenarios, from minor inconveniences to serious emergencies.
Targeting the Modern Digital-Savvy Traveler
The launch of TravelShiok aligns with Trust Bank’s goal of expanding its range of versatile financial products for its digital-first customer base. The bank reports that about 13% of its active customers have already purchased some form of insurance, showing a clear demand.
Most policyholders are between 30 and 49 years old, a group known for frequent work trips and family holidays. This demographic values convenience and integrated solutions. By offering practical benefits like ticket and gadget protection, Trust Bank is directly meeting the needs of these modern travelers who want simple and effective coverage.
Frequently Asked Questions about TravelShiok
What is unique about TravelShiok insurance?
TravelShiok stands out because it covers unused entertainment tickets for events like concerts or theme parks if your trip is cancelled. It also offers purchase protection for items you buy with a Trust card while traveling.
Who is eligible to purchase TravelShiok insurance?
The policy is available to customers of Trust Bank, a digital bank in Singapore. Key features like ticket and purchase protection require using a Trust card for the transaction.
How much coverage is provided for baggage and gadgets?
The policy offers up to S$8,000 in coverage for lost or damaged baggage. This protection specifically includes valuable electronics like mobile phones and laptops, which are often excluded in basic policies.
Does TravelShiok cover medical emergencies abroad?
Yes, TravelShiok includes an overseas hospital allowance to help cover costs if you require emergency medical attention while traveling outside of Singapore.
Is there any coverage for rental cars?
Yes, the policy includes rental vehicle excess cover. This benefit helps pay for the excess fee charged by a rental company if the car is damaged in an accident.
