SUMMER TRAVEL DELAYS GOT YOU DOWN?
Coming out of the summer months, many of you no doubt experienced just how unpredictable travel can be. Unexpected challenges such as flight delays, baggage mishaps, or even trip cancellations are not uncommon scenarios for even a semi-regular traveler.
If you've ever experienced the frustration of disrupted plans, you'll understand the importance of having a safety net.
In this article, we're delving into the realm of credit cards that offer travel insurance, your ultimate companion in navigating the uncertainties of travel. We’ll explore the most common benefits, take a look at which cards offer them, and hopefully give you a bit more confidence the next time you’re headed to an airport.
After all, in a world where surprises are frequent, having the right card can make all the difference.
IN THIS ARTICLE:
Personal Cards that Provide Travel Coverage
Business Cards that Provide Travel Coverage
Common Insurance Coverages
Knowing that you have a safety net going into a family vacay, anniversary trip, or really any type of travel can bring you so much peace of mind amidst the uncertainties of travel.
While some things like summer thunderstorms are unavoidable and completely out of your control, if you’ve got the right card in your wallet, you can rest assured knowing your trip won’t be ruined.
Many premium travel cards offer various types of coverages for when travel doesn’t quite go how you planned. Paying for your flights or hotels using one of these cards will often make sure that you and everyone traveling with you can enjoy the benefits.
Let's take a quick look at some of the most common protections offered by credit cards and what they mean:
Trip Cancellation or Interruption
In the case your trip is canceled or interrupted due to covered reasons such as illness or severe weather, this ensures you’ll be reimbursed for any non-refundable expenses.
Travel Delay
Provides coverage for additional expenses caused by travel delays. This covers things like meals, accommodations, and transportation costs.
Baggage Delay
Offers reimbursement for purchasing essential items during baggage delays, helping you stay comfortable while waiting for your belongings.
Lost Baggage
Provides coverage for lost, stolen, or damaged baggage and its contents, allowing you to replace your items without extra costs.
Collision Damage Waiver
Many cards offer primary rental car insurance, which covers damage or theft of rental cars when you pay for the rental with the card. This can save you tons of money by being able to deny the insurance typically upsold by the rental car company.
Emergency Medical Insurance
Many of these cards also offer coverage for medical expenses incurred due to unexpected illnesses or injuries during travel. Some even go to the extreme of covering accidental death or dismemberment during eligible travel.
How credit card insurance works
Understanding how credit card travel insurance works is essential to making the most of these benefits.
1 - BASED ON REIMBURSEMENT
For many of these coverages, the process is based on reimbursement. This means that if you encounter an eligible travel mishap covered by your credit card, you'll need to pay for the expenses upfront and keep all of your receipts.
After your trip, you can then submit a claim to your credit card issuer for reimbursement. It's crucial to carefully review your card's terms and conditions to understand the documentation required for a successful claim.
2 - WORKS AS SECONDARY COVERAGE
Moreover, keep in mind that credit card insurance coverages often act as a secondary line of defense. While they can provide valuable assistance, they often require you to first attempt to resolve the issue with the airline or travel provider.
Most credit card coverage steps in only to cover things not otherwise covered by the airline or insurance. If you have a non-refundable flight that you have to cancel, the airline would probably just tell you “Sorry you’re up sh*ts creek!” But your credit card coverage would reimburse you for that flight as long as it fits the qualifications.
3 - YOU USUALLY HAVE A LIMITED TIME TO FILE
Each card is a bit different but it is important to familiarize yourself with how much time you have to file a claim. For Chase and Amex cards, you typically have 60 days to submit the claim and you have 100 days to provide any and all required documentation for the claim you’re trying to make. Captial One however requires you to submit within 30 days.
4 - THERE IS A COVERAGE LIMIT
Again each card is different which is why it’s important to review yours! But For example,
Make sure to read the fine print in your benefits guide (even if you’re not a person who normally reads fine print!) because is will clearly tell you what is covered, and what you must supply in order to receive the coverage.
By familiarizing yourself with these basic principles, you'll be better prepared to navigate the ins and outs of credit card travel insurance, giving you peace of mind and added protection on your journeys.
Top Cards That Carry Trip Insurance
You might be kicking yourself for not opening one of the cards prior to your last trip! Well there’s no time like the present, here’s a list of some of my personal favorite cards that offer insurance.
CHASE SAPPHIRE RESERVE
This is by far my personal favorite card and it carries all of the coverages mentioned above. Here are some of the reasons I love this card more than the rest:
• Trip delay coverage kicks in at only 6 hours, while most of the other cards require the delay to be 12 or more hours or an overnight delay.
• Comes with Primary Rental car coverage which means if you pay for your entire car rental with this card, you can decline the rental company’s insurance and save a good bit of money.
• You only have to charge a portion of your trip to the card to get the benefits.
• The Benefits automatically apply to your immediate family, even if you’re not traveling with them!
CHASE SAPPHIRE PREFERRED
The more affordable cousin to my #1 card. This is my favorite beginner card, especially for those who may not be able to justify the higher annual fee on the Reserve. The Sapphire Preferred card has almost identical coverages to the Sapphire Reserve. However, the biggest difference is that for the Preferred, the trip delay coverage doesn’t kick in until you’ve been delayed 12 hours or overnight.
Still, this credit card has solid benefits for a starter card.
AMEX PLATINUM CARD
I you’re looking for an MR earning card that has some fantastic travel coverages, the Platinum card from American Express is the obvious choice. While it does have a hefty annual fee, it does include some great travel protections.
A Couple Notes:
• You must pay for the entire trip using the card in order to get the benefits.
• The included rental car insurance is only secondary rental car insurance which means that you would need to file a claim with your at-home car insurance before filing one with the card. However, Amex platinum card holders do have the option to pay for primary rental coverage on a per-rental basis for a very fair price.
CAPITAL ONE VENTURE X
For the capital one fans out there, this is hands down your best choice. The Venture X includes Rental car coverage, trip cancellation, interruption, and delay coverage, as well as baggage delay reimbursement.
BEST BUSINESS CARDS WITH COVERAGE
CHASE INK PREFERRED CARD
This business card from Chase offers great coverage for business travelers. It included Chase’s trip cancellation and interruption benefits as well as baggage insurance and baggage delay coverage.
It also includes primary rental car coverage for rentals that are for business purposes only. If a rental is for personal use it only provides secondary rental insurance.
AMEX PLATINUM BUSINESS
A Fantastic option for Amex fans having mostly the same coverages as it’s personal counterpart.
CO-BRANDED CARDS WITH TRIP INSURANCE
While these are just the top choices, several popular co-branded credit cards also carry some great travel coverages including:
Delta Reserve personal or business from Amex
United Explorer, Club, and Business Cards
final thoughts
Remember to always, always, always check your specific card’s benefits guide and read the fine print. Nothing is worse than thinking something will be covered only to be hit with the fine print and realizing what you thought would get paid for is now going to come out of your pocket!
Many of these cards are worth keeping in your wallet just for these benefits alone, especially the Chase Sapphire Reserve, and Sapphire Preferred.
Grab one of these cards and book your next trip with complete peace of mind!