Insurance
Best Travel Insurance Credit Cards: Compare and Apply
Travel Smart: Top Credit Cards Offering Comprehensive Travel Insurance.
Are you planning a trip and wondering which credit card offers the best travel insurance benefits? Look no further. We’ve compiled a list of the top credit cards that provide comprehensive travel insurance, helping you stay protected and stress-free on your next adventure.
What to Look for in Travel Insurance Credit Cards
When selecting a credit card for travel insurance, consider the following key features:
1. Trip Cancellation Insurance
2. Trip Interruption Insurance
3. Travel Delay Insurance
4. Medical Evacuation Coverage
5. Travel Accident Insurance
6. Baggage Insurance
7. Concierge Services
Top Credit Cards for Travel Insurance
1. Chase Sapphire Preferred Card
- Trip cancellation insurance up to $10,000
- Travel delay insurance up to $500
- Travel accident insurance up to $500,000
2. American Express Platinum Card
- Trip cancellation insurance up to $10,000
- Travel delay insurance up to $500
- Medical evacuation coverage up to $100,000
3. Citi Premier Card
- Trip cancellation insurance up to $5,000
- Travel delay insurance up to $500
- Travel accident insurance up to $500,000
4. Capital One Venture Card
- Trip cancellation insurance up to $5,000
- Travel delay insurance up to $500
- Travel accident insurance up to $250,000
5. Barclays Arrival Plus Card
- Trip cancellation insurance up to $5,000
- Travel delay insurance up to $500
- Travel accident insurance up to $250,000
Tips for Maximizing Travel Insurance Benefits
1. Read the fine print: Understand the terms and conditions of your credit card’s travel insurance policy.
2. Know the limits: Familiarize yourself with the coverage limits and deductibles.
3. Activate benefits: Register for travel insurance benefits before your trip.
4. Keep records: Document your travels and expenses for easy claims processing.
Complete Guide to Credit Cards For Travel Insurance
What Is Travel Insurance?
Travel insurance benefits vary wildly from card to card. Credit cards may offer various types of coverage, and that coverage could have different terms and conditions. For example, some trip cancellation insurance policies may provide coverage for severe weather, while others may exclude weather as a covered reason. Credit card car rental insurance may exclude coverage in select countries.
Credit card coverage may not cover everything independent insurance covers. It may be more restrictive in terms of eligible covered events. It may also not provide enough monetary coverage to be truly useful should an adverse event occur.
How Does Credit Card Travel Insurance Work?
In order to activate travel insurance through your credit card, eligible trip expenses must usually be purchased with the card. There may also be additional conditions. For example, to be eligible for a credit card auto collision damage waiver, the cardholder is typically required to decline the rental company’s collision damage waiver at the counter. American Express goes one further and requires that personal accident insurance, personal property coverage and any other similar coverages be declined, as well, to qualify for its insurance coverage.
If something goes wrong while traveling and it’s an insured event, you’ll need to follow the procedure outlined in your card’s benefits guide to submit a claim. That will include documentation of your adverse event, often from third parties such as the airline, local police department or medical staff. To make a successful claim, it’s necessary to follow the claims procedure exactly. Be sure to obtain third-party documentation before returning home, as it will be much easier to get in person.
Pros and Cons of Credit Card Travel Insurance
| Pros of Credit Card Travel Insurance | Cons of Credit Card Travel Insurance |
|---|---|
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Typically offered free of charge
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Coverage is not customizable
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Eliminates the need to shop for insurance
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May have limits or conditions
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Coverage may be sufficient for most needs
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Covered reasons may be more restrictive
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Must follow procedures to the letter for coverage
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Types of Credit Card Insurance
Car Rental Insurance
Coverage is either primary or secondary, and will cover the cost to the car for damage and theft. Some coverages also cover medical coverage due to accidents.
Travel Interruption Insurance
If your trip is cut short, you might be eligible for nonrefundable expenses for common carrier tickets.
Trip Cancellation Insurance
When your trip is completely cancelled due to a covered reason, such as illness, bankruptcy of the carrier, or death of a family member, your expenses can be covered.
Trip Delay Insurance
If there’s a delay in your travel, usually of over six or over 12 hours (depending on the card), you’ll be able to submit reasonable expenses for things like an overnight hotel room, food and taxis.
Travel Accident Insurance
If you get hurt while traveling, this coverage kicks in to get you to a nearby medical facility. Some insurances will cover the cost of getting you well while others will not.
Roadside Assistance
Depending on the card, this benefit will either give you access to roadside assistance or cover the cost to get you back on the road when you need it.
How To Choose a Credit Card for Travel Insurance
Knowing you have travel insurance benefits through a credit card can provide additional peace of mind, but credit card travel insurance benefits may not be enough to fully compensate you should something happen. That said, if you’re looking for travel insurance benefits—whether through a credit card or not—consider the following:
- What kind of travel insurance benefits are most important to you? Some cards may only offer limited benefits like trip cancellation and secondary rental car insurance coverage, while others will include trip delay, baggage delay and primary rental car coverage.
- How much coverage is enough? Even if two credit cards offer trip cancellation insurance, they may not be equal. Consider the coverage limits, whether you are comfortable with that level of coverage and whether it protects your trip fully or not.
- When will coverage apply? Just because you have coverage doesn’t mean that it will always apply. Trip cancellation coverage will only allow you to cancel your trip for covered reasons. Rental car coverage typically doesn’t include any kind of liability coverage, which means the car is insured, but you and any property or persons involved in an accident are not. Often, credit card insurance does not cover luxury, exotic or large multiple-passenger vehicles.Any time you’re evaluating credit card benefits, read the fine print. This is especially important when the cost of not reading the fine print can be the difference between covering a trip cancellation cost or not.
Pro Tip
How To File a Travel Insurance Claim
Each credit card issuer has a different process for filing a travel insurance claim. Your best bet is to call the number on the back of your card to inquire about how to start the process. If your intention is to rely on your credit card for travel insurance, then we suggest researching the claims process ahead of your trip so that you are prepared in the event you need it.
Gather Your Documents
Regardless of the type of claim that you’re filing, you’re going to need proof that your claim is valid and that the insurance should take care of paying for it. For something like an auto insurance claim, you’ll want to make sure that you take pictures of your vehicle and have copies of your rental agreement. If you’re filing a lost luggage claim, make sure to file a claim with the airline and then provide any receipts, if you’ve got them.
The specific types of documents you’ll need vary by type of claim and card issuer, so make sure to have a quick glance in your benefits guide that comes with your credit card.
File Your Claim
Once you’re done with your travel and you’re back in the safety and comfort of your own home, you can file the claims. Some claims will need to be filed within a shorter time frame, like 30 days, and others you might be able to wait a little bit longer. Nonetheless, don’t wait on it too long, as you’ll want the freshest memory possible to help you with filing.
The most simple method is to dial the customer service number for your credit card and ask them to transfer you to the appropriate department. You might need to upload some documents online or even send some in to the insurance adjuster, but they’ll guide you through the process step by step.
Is Travel Insurance Worth It?
Travel insurance is the credit card benefit you hope you’ll never use. But if you need it, it can save you from significant out-of-pocket costs. Keep in mind, though, that credit card travel insurance may not always be the best choice for coverage, depending on your situation and the particular trip you’re planning. That’s why it’s important to carefully read the fine print to understand exactly what coverage you are getting before relying on credit card travel insurance protection or purchasing a standalone travel insurance policy.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
To view rates and fees for The Platinum Card® from American Express please visit this
Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip.Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
Frequently Asked Questions (FAQs)
Do all credit cards have travel insurance?
Not all credit cards offer travel insurance coverage. The better travel insurance benefits are usually only offered with mid- or premium-tier cards. There are no annual fee credit cards that provide travel insurance, but often with lower coverage limits and more restrictions. A good example is the Chase Freedom Flex®, which includes secondary rental car insurance and trip cancellation insurance of $1,500 per person, applicable only to passenger fares.
Which credit card has the best travel insurance?
Though coverages vary even among the best cards for travel insurance, we’ve chosen the Chase Sapphire Reserve® as the best travel credit card for travel insurance purposes. We believe this card leads the pack when it comes to included travel insurance benefits.
What credit cards offer free travel insurance?
Many premium travel cards offer no-extra-charge travel insurance, though some of these cards also charge annual fees. Travel insurances typically only apply to eligible purchases made with the card.
Is credit card travel insurance enough?
It depends on what you need. Read the fine print associated with the coverage from your credit card and determine if the coverage amount and eligible reasons fit your specific trip and personal situation. If not, consider purchasing additional travel coverage.
Another consideration is whether your personal health insurance will cover medical and/or dental claims out of state or out of the country. Since credit card travel insurance generally provides little or no medical coverage, it’s not an option for coverage. If your personal health insurance does not provide coverage outside the country, then look at purchasing out-of-country medical insurance.
Does credit card insurance cover family?
Some of the insurance coverages that are a benefit of owning a particular card may cover family members if they’re traveling with you and you purchase the travel using the card that offers coverage. Check the terms and conditions of your particular card and coverage to see what applies to your particular situation.
Conclusion
Travel insurance credit cards offer peace of mind and financial protection for unexpected trip disruptions. By choosing the right card and understanding its benefits, you can ensure a worry-free journey. Always review the terms and conditions, and maximize your benefits to get the most out of your travel insurance credit card.
- Don’t choose a credit card only for the insurances, as chances are, like most insurances, you won’t need it. You should instead look at the types of insurances offered as a perk of your card and decide which ones matter most to you. You might find that the card that offers the best rewards for you might not be the one that offers the best insurance and vice versa.