Credit card travel insurance offers travelers an extra perk that may reimburse them for various travel-related expenses, depending on your card’s coverage options and type. The coverage varies by card.
Capital One Venture X offers comprehensive travel protections. It includes trip cancellation, delayed luggage and emergency evacuation coverage as well as some conditions and exclusions to take into account.
Cancelled or Interrupted Trip Benefit
Providing yourself with financial protection against unexpected events is essential, and starting with a credit card with travel protection can be a good starting point. For additional protection and peace of mind, however, standalone travel insurance policies might offer better coverage.
This protection reimburses non-refundable travel expenses charged to your credit card if they must be cancelled or interrupted due to unexpected events like severe weather or illness, up to an agreed-upon limit, as determined by each card provider.
Be mindful that credit card coverage often serves as secondary to other travel insurance policies you may already possess, so it’s wise to review its terms and conditions thoroughly to understand what coverage exists. In addition, be prepared to pay some portion of your trip with cash before filing a claim with them if needed – be sure to review our comprehensive credit card benefits guide before heading out so you’re fully informed as to what’s covered and what isn’t.
Emergency Medical Benefit
This benefit, usually included as secondary coverage to your primary health insurance, reimburses eligible medical expenses and transport to an appropriate facility if you become sick or injured on your trip. Coverage varies by card and typically caps at around $1 million.
Credit cards with travel protection feature a comprehensive suite of benefits for travelers, such as trip cancellation and interruption coverage, lost luggage reimbursement, rental car collision damage waivers, emergency evacuation coverage and much more. Before your trip begins, be sure to understand which policies your credit card offers as well as their limits – read the pamphlet that came with your card or refer to its Guide to Benefits online for details on this aspect.
Travel rewards cards with comprehensive coverage often offer additional features that add value to your vacation experience, such as purchase protection and extended warranty protection. Check out the best credit cards with travel perks and rewards for more details on what options may be available to you.
Baggage Loss or Delay Benefit
Credit card travel insurance often provides coverage for lost or delayed luggage, which acts as an add-on to existing policies such as homeowners or renters policies, but typically excludes high-value items like jewelry, sports equipment or electronics.
Delayed baggage coverage reimburses essential items, like toiletries, if your flight is delayed by six hours or more; while lost item coverage provides replacement funds should any of your belongings become stolen on the road. In order to claim this benefit, receipts as well as key documents like police reports or correspondence with travel providers who haven’t reimbursed are often needed as proof.
Many cards also include travel accident insurance benefits that provide a lump sum payout in case of sight, hearing, speech or limb loss while traveling on common carriers such as airplanes, cruise ships or trains. Unfortunately, such coverage may not meet all medical coverage needs while away; for this reason it’s wise to consider additional specialty travel insurance should your travel plans require extensive medical coverage while away.
Trip Delay Benefit
Credit cards with trip delay coverage may help cover additional expenses related to travel delays, typically up to a certain amount per common carrier ticket (air, cruise, train or bus) booked with your card that has been delayed by more than an agreed upon number of hours. Some cards require full payment using your card while others allow points or miles as cash equivalents in lieu of using all cash components of purchasing tickets entirely on credit.
Cardholders typically only receive reimbursement once their claim has been submitted and approved, and any delays have passed for this benefit to take effect – most policies require at least six or 12 hours for it to kick in; Chase Sapphire Preferred and Marriott Bonvoy Boundless Credit Cards offer this benefit, for more details please consult your policy guide for that card.
