Numerous credit cards offer travel insurance, which can help cover costs in case something goes awry on a trip. But not all card benefits are equal.
Protective coverages and amounts vary among cards, with some even offering added perks such as car rental damage waivers or airport lounge access. Here are a few great cards offering outstanding travel insurance protection.
Baggage delay or loss insurance
Many credit cards provide travel insurance to cover items like lost luggage and rental car damages; however, their policy usually serves as a secondary layer.
For example, if an airline loses your luggage, your credit card might reimburse up to its maximum coverage amount for replacement items; by comparison, standard homeowners’ policies typically offer much broader reimbursement limits.
Delayed luggage insurance typically is limited to a certain daily limit for a set number of days; however, most cards also exclude certain types of items, such as contact lenses and hearing aids; all receipts for incidental purchases must also be saved in order to make a claim. As a general rule, travel credit card coverage extends only to cardholders and their immediate family (spouse, domestic partner, children under legal guardianship or siblings/siblings-in-law), though in certain circumstances this could even include other relatives living together and using credit cards while traveling – check policy terms carefully as each policy may extends further out than this!
Medical emergency coverage
Credit card travel insurance can provide peace of mind and save money should anything go awry on your trip. But benefits vary widely by product and company – therefore, make sure you select a policy with adequate coverage limits, an acceptable deductible amount, and add-on features that might benefit you most.
Medical emergencies on the road can be costly, and most personal health policies don’t cover them when traveling abroad. Credit card travel insurance policies usually include medical evacuation and transportation coverage to help cover eligible costs if an injury or illness arises while traveling away from home.
Many credit cards provide rental car coverage. Some provide secondary rental car coverage that kicks in after your regular auto policy has taken effect, while others provide primary coverage which eliminates the need to file claims with other providers first. Some cards even provide travel accident insurance which covers your expenses related to lost, stolen or damaged luggage or travel misadventure.
Trip cancellation or interruption insurance
Depending on your card, credit card travel protection may help cover some of the expenses if something unexpected comes up and forces you to cancel or interrupt a trip. Coverage varies by card but usually only applies when booking using said card.
Some cards, such as the Chase Sapphire Reserve, offer trip cancellation or interruption insurance that covers you up to a certain limit for non-refundable expenses on trips booked with their card that are cancelled for reasons such as sickness, jury duty, or bad weather.
Other cards, like the American Express Platinum card, provide trip cancellation/interruption coverage with higher maximum amounts and include extra travel protections such as trip delay coverage and medical transportation expense coverage if needed in case of an emergency. Unfortunately, however, most card travel insurance limits fall lower than Generali’s premium plan benefits; so please refer to your card’s Guide to Benefits for detailed terms and conditions before purchasing travel insurance coverage with your card.
Emergency evacuation assistance
Credit card companies may try to obscure crucial details about their travel insurance coverage in pages of fine print, so make sure that you read carefully the policy wording, keeping an eye out for phrases such as, “we will not reimburse for items left behind” or high claim limits that could imply limitations in coverage.
Emergency evacuation coverage can come in handy should an injury or sickness arise during a trip. With this benefit, emergency rescue can fly you away from an unsafe area to either return home safely or directly to a healthcare facility for the care that’s necessary.
Some cards, like the Chase Sapphire Reserve and United Club Infinite American Express Cards, provide this coverage through Premium Global Assistance; other cards offer it through their own travel protection programs. Travel medical insurance may cover additional expenses than credit card travel insurance does but will often cost significantly more.
