Many credit cards with complimentary travel insurance offer various forms of coverage depending on the card in question, with more comprehensive policies offering comprehensive protection and generous reimbursement caps for expenses of varying nature.
However, it’s essential that you familiarise yourself with any restrictions and exclusions before selecting a card with complimentary travel insurance to meet your specific needs. This article can assist in helping you choose an appropriate credit card offering such coverage.
Cancel for any reason
Citi Double Cash card provides travel insurance that reimburses expenses if you cancel for any reason, including eligible nonrefundable airline, hotel and tour bookings. But please be aware there may be certain exclusions; for instance if canceling due to organized strike affecting public transportation; having preexisting medical condition; or traveling against medical advice will result in no reimbursement of expenses.
To file a claim, you will need to submit documentation such as receipts of cancelled expenses and letters from your doctor. More details on filing your claim should be available on your credit card’s website or calling its number listed on your card. In addition, additional travel insurance might also be beneficial; some policies cover cancellation due to terrorism, severe weather or loss of employment as well as many policies offered by cards offering travel coverage in these cases.
Trip delay insurance
Credit card travel insurance may not provide as comprehensive a policy as standalone policies do, but it still can help cover unexpected situations before or during your journey. Since each card issuer offers different terms when it comes to travel protection policies – make sure you research each card thoroughly before selecting your ideal option!
Chase Sapphire Preferred credit cards provide protection in the event of flight cancellation due to inclement weather or terrorist attack, reimbursing unused, nonrefundable expenses up to $500 per ticket and offering rental car collision damage waiver coverage.
Other benefits include trip cancellation and interruption coverage that reimburses nonrefundable, prepaid travel expenses of $10,000 or more, along with baggage delay reimbursement up to $500 per ticket should your mode of transport be delayed for 12 hours or more. Furthermore, this card offers secondary medical and dental coverage as well as emergency evacuation assistance; although its annual fee of $395 must still be considered when making this purchase decision.
Trip cancellation insurance
Some credit cards include trip cancellation insurance that reimburses pre-paid expenses in the event of an unforeseen incident that prevents you from traveling. This coverage typically covers nonrefundable travel purchases and additional passengers on your reservation, depending on their policy. Minimum spending requirements or maximum claim limits may also apply, while age restrictions or requirements to purchase airfare with their card are often also part of these policies.
Some cards offer travel accident insurance that will cover medical and evacuation expenses if you are injured while on your vacation, however this type of protection tends to be more limited than standalone travel plans and may exclude situations like organized strikes affecting public transportation or traveling against medical advice. Check your card’s benefits guide or terms and conditions to see what types of situations are covered by their travel accident coverage, or check for specific exclusions.
Medical insurance
If an accident occurs while traveling by common carrier (air, cruise ship, package tour or train), credit card insurance may reimburse eligible medical services and transportation. This differs from travel accident coverage which only provides protection to immediate family if someone dies or becomes injured on an insured trip.
Medical evacuation insurance (which differs from trip cancellation/interruption policies) may also be available on certain cards, and can cover medical evacuation in an event such as the coronavirus outbreak if you find yourself abroad and stranded due to an outbreak.
Details about these benefits can be found in the “Card insurance T&Cs” section of each card’s PDS. Typically, to qualify for coverage you must make payments using the card and be in good standing when filing a claim. Policies vary with regards to coverage limits, maximum age restrictions, preexisting medical conditions exclusions and exclusions as well as exclusions that apply when making claims.
