Credit card travel cancellation insurance provides coverage for pre-paid and nonrefundable trip expenses when using your card to make the purchase. Coverage varies by card but typically extends to both primary cardholder and immediate family members (specific numbers depending on each card).
Some cards also provide coverage for trip delays – please check your benefits guide for details.
Coverage
Credit card travel cancellation insurance provides traveler reimbursements for nonrefundable expenses they incur due to covered events like illness, weather and terrorist threats – such as last-minute hotel rooms and airport meals.
Most cards offer some form of trip cancellation and interruption coverage with limits ranging from $1,500 to $10,000 per trip, including family members in addition to the primary cardholder. Some policies require booking a minimum amount on a card before activating it; in these instances the policy would take effect immediately.
Many credit cards provide trip delay protection, which reimburses cardholders when their travel is disrupted by common carrier issues. American Express Platinum Cards cover costs up to $675 after delays of six to 12 hours; specific terms and conditions of these policies differ between cards so it’s essential that cardholders read them carefully before making a decision.
Reimbursement
Credit card travel cancellation insurance reimburses nonrefundable, prepaid trip expenses that have been cancelled or interrupted for covered reasons, such as common carrier fares (like airfare or train tickets), tours, lodging costs, up to an annual or trip maximum coverage amount depending on your card.
Credit cards with travel protection usually include a benefits guide or online claim form that details what is and isn’t covered, making filing claims much simpler. To submit one successfully, typically receipts, doctor notes, or weather advisories will need to be presented as evidence of loss.
Some cards offer trip delay coverage as a convenience benefit; this coverage generally kicks in when your mode of transportation has been delayed for six or 12 hours and not related to COVID issues or organized strikes; generally speaking travel protection policies do not cover trips canceled because of medical advice or the risk of disease outbreaks.
Exclusions
Chase Sapphire Reserve credit cards with trip cancellation insurance provide reimbursement of nonrefundable prepaid travel expenses if you and your immediate family cancel or interrupt their trip for covered reasons, though in order to qualify they must charge all or a substantial portion of it on their card; you also need to purchase tickets using either that credit card (or with award taxes charged against it) rather than using other payment options like award taxes charged against an Ultimate Rewards account associated with that card.
Though coverage limitations vary greatly among cards, reimbursement for travel delays is usually restricted to a certain time or only covers passengers traveling on common carriers; others exclude COVID-19 expenses; still others offer “Cancel for Any Reason” policies that offer more generous coverage but may have terms, conditions or exclusions attached; for the best information regarding your policy contact your card provider directly or check out your benefits guide to see exactly how they apply in each situation. For the best coverage check your benefits guide or call your card provider directly!
Claims process
Many credit card travel cancellation policies provide coverage for expenses associated with canceling or interrupting a trip due to illness, injury, inclement weather, terrorist action, military deployment or jury duty – however it’s essential that you carefully read your policy as there may be exclusions and provisions you need to consider before making a decision.
Documents required depend on your reason for canceling your trip; typically they include receipts and medical records such as letters from doctors advising against travel. Furthermore, depending on your policy coverage provisions may also cover additional expenses caused by delays such as lodging and meals.
Claim submission deadlines usually fall within 90 days after losing or receiving loss documentation, though this could vary depending on your card issuer and third-party benefits administrator. Make sure to keep receipts and documents from any trips cancelled to allow yourself enough time for filing a timely claim.
