Credit cards with travel insurance provide cover against unexpected incidents that could thwart your travel plans, though keep in mind they may not offer as comprehensive a solution as standalone policies would.
To take advantage of these benefits, pay for the entire trip with an eligible card and read and accept its terms and conditions thoroughly.
Cancel for Any Reason
Some credit cards provide cancellation for any reason coverage (excluding pregnancy or terrorism ) which allows you to cancel your trip and get some or all of your money back. Unfortunately, however, comprehensive travel insurance plans typically offer higher benefit limits.
This coverage lacks the same flexibility of traditional travel insurance policies; typically you must cancel within a certain window in order to be eligible for reimbursement, while certain reasons that could prompt cancellation such as falling out with travel companion or having anxiety about flying aren’t covered by it.
Purchase of CFAR plans can be added onto existing policies or directly from insurers; costs vary based on how much non-refundable trip expenses you need covered as well as party size and age considerations; typically it’s 40-60% more expensive than purchasing standalone travel insurance policies with similar coverages.
Trip Delay Insurance
An appropriate credit card can save money when travel plans are interrupted or delayed, including meal, hotel and transportation expenses incurred due to unexpected trip delays. Many cards now include trip delay insurance for this very purpose.
Travel delay coverage varies by card, but most offer reimbursement for reasonable expenses incurred during an unexpected delay. That doesn’t include things like running up a bar tab – however you may get reimbursed for things such as hotel accommodation costs or additional meals incurred due to being delayed.
In order to qualify for this benefit, any travel delay must be caused by circumstances outside your control and that affect all travelers using a common carrier (airlines, ferry services, passenger railroads or long distance bus companies). Most policies have minimum delay requirements of 12 hours or require an overnight stay; additionally, this benefit usually only covers trips booked with qualifying cards – making it crucial to read their guide of benefits carefully when planning trips with these cards.
Trip Interruption Insurance
Trip interruption insurance protects you if an unforeseen event forces you to cancel or cut short your planned vacation due to illness, injury, death of family member, severe weather or job loss. This additional benefit can either be purchased as a separate travel policy or gained for free with some premium travel credit cards such as American Express’ Business Platinum Card. While valid reasons for cancellation vary – illness, injury, family death/illness as well as severe weather can lead to cancellation.
As with Cancel for Any Reason coverage, Trip Cancell Coverage may not be necessary for every traveler; however, it could be worthwhile if you’re planning a large trip or have purchased numerous non-refundable items before leaving home. Filter for it when searching travel insurance plans through comparison websites to see what plans offer it and read through any policy documents to determine eligibility and benefits; be mindful that some plans have age limitations and restrictions such as having to charge all purchases to a card offering protection in order to qualify.
Emergency Medical Insurance
No matter if it’s for a quick visit or longer journey, travel insurance provides protection from unexpected medical emergencies that may arise while away. These cards’ Emergency Medical and Evacuation benefits can reimburse travel expenses or assist if something arises that forces an early return home if continuing your trip becomes impossible.
Many of these policies offer Primary coverage, which pays your claim before any other insurance (like your regular health plan ) kicks in. Some also provide Secondary coverage which pays after other insurers have paid and makes the process simpler for you.
These plans cover more than just emergency medical costs, however. Most also cover repatriation (arranging and paying for transport back home if your original itinerary doesn’t happen as planned) and Assistance services, so check your policy details carefully for details – some policies have limitations or exclusions related to preexisting conditions; many require medical examination prior to purchasing coverage.
