It’s true that some credit cards offer travel insurance coverage. Some travellers rely on this insurance to kick in should something derail their travel plans whether it’s lost baggage a medical emergency or bad weather. However it is very important that you understand exactly what the credit card company provides when it comes to travel insurance. It varies by type and limits depending on the card – and some offer no coverage at all. You may find that you desire better or additional coverage than what your card offers. Here’s what you need to know about travel insurance covered with your credit card.
Do All Credit Cards Offer Travel Insurance?
Unfortunately no. Only a select few cards will offer their customers associated travel insurance . Generally some of the bigger and more prominent card companies will provide some type of travel-related coverage. It is important to verify what is covered and read the fine print. Call a representative and ask about the travel insurance that may be connected to your card. You’ll want to know what is covered includingtravel medical trip cancellation trip interruption lost baggage and delays. Simply assuming that you will be adequately covered by your credit card’s travel insurance could leave you with a hefty bill in the event that something goes wrong.
Are There Limits To This Type of Coverage?
Yes. Travel insurance associated with credit cards is usually far more limited than a policy you would get through a broker. Most often this type of insurance is going to cover a limited number of days . If in fact you are planning a longer trip you would definitely want to discuss a more inclusive form of coverage with your insurance company.
Travel insurance via credit card is also limited in terms of what specifically is covered and the amount that is paid out in the case of a claim. For instance if your trip must be cancelled some cards may only reimburse you up to $1500 in expenses. If you’ve spent several thousand dollars for a family vacation to Mexico then you’re going to be out quite a bit of money by relying solely on credit card travel insurance.
Also in terms of medical coverage or medical evacuation coverage credit card travel insurance tends to fall short. Most will not cover you in the event you have to be admitted to a hospital while travelling. You really want to make sure that you understand precisely what you’re getting with this type of coverage.
How Can I Be Better Covered When I Travel?
When you are planning a trip looking intotravel insurance and travel medical insurancejust makes sense. You want the peace of mind that comes with extensive coverage; you want to know that should some medical emergency befall you your travel insurance will keep you from having to pay potentially hefty medical expenses. If you’re uncertain about what type of travel-related insurance you might require talk to your broker. They can explain the options and offer you comprehensive solutions.