Different Types Of Credit Card Travel Insurance Explained
As listed above, there are several different types of credit card travel insurance. While the types of protections and amount of coverage vary, there are some elements that remain constant throughout.
Remember that to be insured during your travels, you must use the respective card for your travel expenses, such as airfare, hotel reservations or cruise excursions.
Here are some of the most common protections:
What Type Of Travel Insurance Can You Get From Your Credit Card
While the coverages offered will change per card, you may be offered benefits such as trip cancellation and interruption coverage, primary or secondary rental car insurance, emergency medical services, baggage insurance and more. You’ll need to check the fine print to see exactly what’s covered under each policy.
Chase Sapphire Preferred Card
Rewards: 5x total points on all travel purchased through Chase Ultimate Rewards, 3x points on dining, including eligible delivery services, takeout and dining out, 3x points on select streaming services, 3x points on online grocery purchases , 2x points on all other travel, 1x point on all other purchases
- Baggage delay: Up to $100 reimbursed per day for up to five days if a common carrier delays your baggage more than six hours
- Lost/damaged baggage: Up to $3,000 per passenger per trip, but only up to $500 per passenger for jewelry and watches and up to $500 per passenger for cameras and other electronic equipment
- Trip delay reimbursement: Up to $500 per ticket if youre delayed more than 12 hours or require an overnight stay
- Trip cancellation and interruption protection: Up to $10,000 per person and $20,000 per trip for pre-paid, non-refundable travel expenses
- Travel accident insurance: Accidental death or dismemberment coverage of up to $100,000
- Rental car coverage: Primary coverage for damages caused by theft or collision up to the actual cash value of most rented cars on rentals of 31 days or less
Annual fee: $95
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The Business Platinum Card From American Express
Welcome offer: Earn 120,000 Membership Rewards points after you spend $15,000 on eligible purchases with your card within the first three months of card membership. Based on TPGs valuations, the 120,000-point bonus is worth $2,400.
Rewards: 5x on flights and prepaid hotels booked through Amex Travel 1.5x on each eligible purchase in select business categories ,as well as on each purchase of $5,000 or more 1x on other eligible purchases
Annual fee: $595
The Amex Business Platinum provides an impressive 5x on flights and prepaid hotels booked through Amex Travel. Based on TPGs latest valuations, this means youll get a 10% return on these purchases. But, if you dont want to book through Amex Travel and would prefer to earn bonus points on a wide variety of business expenses, you may be better off with the Ink Business Preferred Credit Card.
How Do I Use The Ehic
To use the EHIC, you must receive medical treatment from public hospitals or any doctors or clinics that are under contract with the national insurance fund. At the time of treatment, you have to present your EHIC card, then, depending on the country, you may need to pay a fee or you may depart without paying anything at all.
The hospitals or clinics in which you can use an EHIC will be different from country to country, but as long as you seek treatment in public centres, you should be covered. The official website of the European Commission also lists how you can use an EHIC and how much coverage you have in each country, so it is worth exploring before you take a trip.
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The Platinum Card From American Express
Welcome offer: Earn 100,000 bonus points after you spend $6,000 on purchases on the card in the first six months of card membership. Plus, earn 10x points on eligible purchases on the card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during the first six months of card membership. Based on TPGs valuations, the 100,000-point bonus is worth $2,000. However, you may be able to snag a targeted 125,000-point offer through the CardMatch tool .
Annual fee: $695
The Amex Platinum provides an impressive 5x on flights booked directly with airlines or through Amex Travel . It also offers 5x for prepaid hotels booked through Amex Travel. So, using TPGs latest valuations, youll get a 10% return on these purchases. But even with a 10% return on select airfare purchases, I still dont use the Amex Platinum to book flights. Instead, I use the Amex Platinum primarily as a membership card since the Chase Sapphire Reserves travel protections provide better coverage for my travel style.
What Card Should I Use For Travel Insurance
The Amex Platinums 5x for airfare booked directly through airlines or Amex Travel is impressive. But the lack of baggage delay protection and the requirement of round-trip travel for some benefits usually discourages me from using Amex-issued cards for flights.
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Editorial Note: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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What Does The Ehic Not Cover
The EHIC does not cover any of the following:
- Planned medical treatment. If you travel to another EU country specifically to receive medical treatment or consult with a particular doctor, you will have no coverage.
- Planned birth. Similarly, if you travel to another EU country with the intention to give birth there, the EHIC does not cover the resulting costs.
- Medical treatment in private healthcare institutions.
- Esthetic surgery.
- Repatriation or evacuation costs. For example, the cost of air ambulance if you need to be evacuated to your home country for medical treatment.
- Any costs resulting from trip interruption or cancellation.
- Any costs resulting from lost or damaged items during your travels.
What Does The Ehic Cover
The EHIC covers all medically necessary treatment by public healthcare providers. This includes:
- Doctors visits. You should consult with a doctor that has a contract with the national health insurance fund in the country you are visiting. If you are not familiar with the health scheme, ask your hotel, travel guide, or locals for help in finding a doctor.
- You will usually need a referral from a doctor to be hospitalized unless it is an emergency. Some hospitals may charge a small fee for your stay in the first few days, others will not charge anything at all.
- Prescription medication. Most national health insurance funds will cover prescription medication, either fully or to a degree. Flu and cold medicine or over-the-counter painkillers are usually not covered.
- Dental care. In most cases, you are covered for basic and emergency dental treatment. More complex or expensive procedures, such as dentures or crowns are not always covered by national healthcare, and therefore not by an EHIC either.
- In most cases, ambulances are covered by the national healthcare fund, so if you need an ambulance while abroad, your EHIC should cover you.
Remember: These services are not necessarily free and may be subject to some fees, depending on the country. Sometimes, you have to pay at the time of treatment, then ask for reimbursement later on.
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How Much Does The Ehic Cost
The EHIC is issued free of charge by the relevant authorities in your country. There are websites that will help you along with the application process, but they will naturally charge you for their help. It is not necessary to apply through one of these sites, as they are private companies, and not associated with national health authorities.
Capital One Travel Insurance
Capital One provides only basic travel accident insurance on all credit cards they issue. That doesn’t offer coverage for trip interruptions, so if your flight is canceled or you have an emergency that causes you to miss a flight, Capital One will not reimburse you for your trouble. Before you pay for your next trip with a Capital One credit card, be sure to consider other travel insurance options.
Capital One Quicksilver Cash Rewards Credit Card
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What Does Your Travel Insurance Cover
First, lets look at the different types of coverage that your credit card may offer to help protect your trip, from your bags to your rental car to your health.
Trip cancellation: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
Trip interruption: Up to $10,000 per trip. Maximum benefit of $20,000 per 12-month period.
Baggage delay: Up to $100 per carrier for three days.
Lost luggage: Up to $3,000 per passenger.
Travel accident insurance. Up to $500,000.
Rental car insurance: Up to $75,000.
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Why Take Out International Insurance
With international insuranceyou have a much better cover level than with your bank card:
- You are insured for over three months stays.
- You have proper healthcare cover with high reimbursement limits , lower deductibles or even no deductibles at all.
- With baggage insurance, you are covered for theft, loss or damage occurring throughout the outward or return leg of the journey or during the stay.
- Liability cover will protect you in the event of damage caused to others.
How To Renew An Ehic
The process to renew your EHIC is pretty much the same as when you first apply, as you will have to contact the relevant health authorities in your country. You can do it online, by post, or in person.
If your information has not changed since the last time you renewed your card, the process should be quicker and easier. If you moved, got married, or any other personal information changed, then you may have to update your details before renewal.
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Cards With Great Travel Protections
You can stay covered on your next trip no matter the annual fee youre able or willing to pay. But if youre looking to ramp up your travel insurance coverage and you travel enough to earn points and rewards that make the cost worth it, a more premium card may be a good fit. Here are a few of our favorite picks with varying price tags:
Do I Have Medical Emergency Coverage For Covid
Travel within Canada: COVID-19 related medical claims that are not covered by your provincial health insurance are eligible for coverage under your TD Travel Medical Insurance plan.
Travel outside of Canada: If your destination is not subject to an “Avoid all travel” or “Avoid all non-essential travel” advisory prior to your departure date, COVID-19 related medical claims are eligible for coverage under your TD Travel Medical Insurance plan.
Before you travel, please refer to the Government of Canada website for more information on applicable Travel Advisories.
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Is Credit Card Travel Insurance Worth It
Yes. Credit card travel insurance can offer quite a broad range of coverages that can come handy in unthinkable situations. When an emergency happens, you can contact your card company or the benefits administrator on your card to receive immediate assistance. However, if you have any chronic medical conditions or belong to a vulnerable group, we recommend purchasing additional travel insurance.
For rates and fees of American Express® Gold Card, please click here.
For rates and fees of Blue Cash Everyday® Card from American Express, please click here.
For rates and fees of Delta SkyMiles® Gold American Express Card, please click here.
For rates and fees of Delta SkyMiles® Platinum American Express Card, please click here.
For rates and fees of Delta SkyMiles® Reserve American Express Card, please click here.
For rates and fees of The Platinum Card® from American Express, please click here.
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Should You Buy Travel Insurance Or Rely On Credit Cards
If youre shopping for travel insurance, dont forget that you may be able to get some of the coverage you need through credit cards. Even some no-annual-fee credit cards carry some combination of travel benefits. The annual fees of premium credit cards offering coverage might be offset if you can reduce a travel insurance purchase.
Still, travel insurance options frequently offer higher coverage limits than what youll find from a credit card. Travel insurance can also provide coverage for medical expenses, a crucial protection for any international traveler.
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Capital One Venture Rewards Credit Card
The card comes with valuable travel protections, such as an auto rental damage waiver where you can be reimbursed in the case of theft or damage of your rental vehicle, as well as 24-hour travel assistance services in the event that you card is damaged or stolen while abroad in that case, Capital One can send you an emergency replacement and a cash advance.
Additionally, youll get travel accident insurance for a covered loss at no extra charge, and extended warranty protection at no charge on eligible items.
Emergency Evacuation And Transportation
If you or your family members become sick or injured during your trip and require an emergency evacuation, you can be covered for those services through emergency evacuation and transportation. Here’s what you should know:
- Coverage includes transportation, medical services and medical supplies.
- Pandemics are not covered under this policy as this is for emergencies like accidents or falls. Each policy has specific terms to meet before a claim can be filed, so be sure to read the fine print.
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What Is Travel Insurance
Travel insurance provides protection for expenses associated with travel, both domestic and international. Travel insurance may reimburse you if your trip gets cancelled, delayed or interrupted–or if you have to pay medical costs that your primary health insurance can’t cover.
Travel insurance benefits can be broken down into a few different categories:
- Trip cancellation insurance may reimburse you if your pre-booked, non-refundable flight is cancelled under unforeseen circumstances, such as injury or if your flight is cancelled due to weather conditions or other.
- Your credit card’s trip cancellation insurance may reimburse you for prepaid flights and hotel stays booked with your credit card.
- Trip interruption insurance may cover expenses like the cost of a last-minute flight home. In most cases, only the part of your trip that was interrupted will be eligible for reimbursement.
- Travel delay insurance may reimburse expenses, such as a hotel stay, that arise from severe delays.
- Medical insurance works like a supplement to your existing health insurance, which may not cover medical costs that you incur abroad. Evacuation insurance covers the costs associated with an evacuation following a weather event or other disruption.
- Baggage insurance is supplemental to coverage provided by your airline or via your homeowners or renters insurance policy. Baggage coverage may reimburse you for the actual or replacement cost of your possessions, should they go missing as you travel.
You Get What You Pay For
I know, I know, we all hate paying an annual fee for a credit card. But sometimes its worth it. Although the majority of the recommended cards in this article do have a relatively high annual fee, the comprehensive travel insurance packages they offer easily offset those fees.
Just remember that having travel insurance is a must as soon as you travel out of your home province or the country. It doesnt matter if youre crossing the border just for a few hours to shop or youre headed overseas for a vacationits better to be safe than sorry. Which credit card you choose is ultimately up to you, but remember that there are enough options out there to make sure the protections you get line up with what you need.
*This post was not sponsored. The views and opinions expressed in this review are purely my own.
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