A good credit card travel insurance over 65 can offer various forms of cover. For example, it might offer trip delay coverage and reimburse for lost luggage; furthermore it might provide rental car coverage that saves on independent policies’ premium costs.
However, coverages vary significantly from card to card, making it important for you to compare different offerings before choosing which one best meets your needs.
Coverage
Most credit cards offer travel insurance policies, but it is essential that you read through all the fine print. Coverage may only apply if expenses are paid with that particular card and may even have age requirements attached. Furthermore, some policies do not fully cover medical care expenses.
Credit card insurance typically does not cover trip cancellations for reasons other than illness or injury, nor rental car collision damage claims.
Credit card travel insurance policies typically don’t cover pre-existing medical conditions, whereas independent plans might. Therefore, if you have one of these preexisting conditions that is stable and needs covering then an independent plan would likely provide more comprehensive protection than credit card plans could ever do on its own. Regardless of these limitations however, credit card travel insurance remains worth consideration particularly for travellers over 65; though for optimal protection it would be best to get one separately as coverage provided by credit card companies can vary widely from plan to plan.
Requirements
Credit card travel insurance coverage often requires meeting certain conditions in order to activate and take full advantage of it. Common requirements include purchasing eligible travel expenses such as airfares, tours or hotels on your credit card to qualify for reimbursement and trip cancellation/interruption coverage may only be available if an entire prepaid non-refundable itinerary was booked on it while declining car rental company collision damage waiver policies.
Age can also play a factor. Some cards provide free coverage for travellers between 65 and 74, while others limit or remove coverage after reaching certain ages. Medical cover limits also vary by card; for instance some only cover travellers up to the age of 85 (which tends to be far less than standalone policies would). Therefore it is worthwhile comparing your credit card’s additional medical protection against obtaining independent travel insurance policies separately.
Exclusions
Credit card travel insurance may seem like a great advantage, but it’s essential to recognize its limitations. For instance, pre-existing conditions, trips to war zones and adventure travel with risky activities typically aren’t covered.
Additionally, credit card travel insurance policies typically require you to use that card when paying for your trip in order to gain coverage – this could prove problematic if you plan to use loyalty points from another program as this might make you ineligible for coverage.
Additionally, most cards require that at least 75% of your trip costs be covered on a card to obtain trip cancellation and lost luggage coverage; this may not be feasible for seniors. Furthermore, most credit card travel insurance policies exclude pre-existing conditions and do not provide comprehensive medical plans; thus purchasing an independent medical or evacuation policy would likely be prudent; although premium cards like Chase Sapphire Reserve and Platinum Card from American Express provide such coverage.
Cost
Credit card travel insurance can be an ideal choice for travellers over 65. However, please remember that its coverage may not meet all your needs.
As an example, some cards require that eligible trip expenses be charged directly with their card in order to activate coverage. Furthermore, maximum medical expense and rental car collision damage coverage amounts can vary based on total trip cost.
Many credit cards provide roadside assistance services such as towing, jump starting, fuel delivery and winching in addition to insurance benefits. This service may be available 24 hours per day and 365 days per year; additionally some cards allow cardholders to add family or friends as additional beneficiaries for coverage. Ultimately, credit card travel insurance typically costs less than purchasing standalone policies; however it’s always wise to compare both costs in order to determine which option would work best in your situation.
