Which Credit Cards Include Travel Insurance?

Having the right credit card when traveling can offer you much-needed convenience and additional perks and travel insurance benefits such as travel rewards, sign-up bonuses, airline and hotel loyalty programs, airport lounge access, travel-related discounts, and assistance, to name a few.

One additional perk that certain credit cards offer is travel insurance. There’s no denying that traveling is fun and exciting, but there are always unexpected challenges that may arise during your trip. From flight cancellations to lost baggage to medical emergencies, things can happen that will jeopardize your trip, which can result in a huge financial burden.

This is when travel insurance becomes an essential part of your travel, providing you with financial protection and peace of mind by offering you various types of coverage. 

In this article, we will discuss the importance of travel insurance, the various credit card travel insurance benefits, and highlight the top credit cards that offer travel insurance, ensuring peace of mind throughout your trip.

The Importance of Travel Insurance

Travel insurance is an important part of travel planning as it helps mitigate the financial risks associated with unexpected travel-related events. It provides protection, peace of mind, and assistance when you need it most, allowing you to enjoy your travels with confidence.

Financial Protection

Travel insurance acts as a safety net, providing financial coverage for various mishaps that may occur during your trip. Whether it's reimbursing your expenses in case of trip cancellation, covering medical emergencies and evacuation costs, or compensating for lost or stolen belongings, travel insurance safeguards your finances from unexpected expenses.

Medical Emergencies

If you fall sick or get injured while traveling, especially abroad, medical expenses can be exorbitant. Travel insurance will help you cover the costs of medical treatments, hospital stays, medications, and emergency medical assistance, ensuring you have access to quality healthcare services and medical evacuation if necessary. It provides you with peace of mind and financial protection against unforeseen medical expenses.

Trip Cancellation and Interruption

Life is unpredictable, and sometimes unforeseen circumstances such as illness, injury, family emergencies, political unrest, or natural disasters can force you to cut your trip short.

Sometimes, unforeseen circumstances such as natural disasters, political unrest, or personal emergencies can force you to cut your trip short. Travel insurance with trip cancellation and interruption coverage can reimburse you for non-refundable expenses like flights, accommodations, and prepaid activities and help you arrange alternative travel arrangements, minimizing the financial impact of unexpected changes.

Lost or Delayed Luggage

If your luggage goes missing or arrives late at your destination, travel insurance can reimburse you for essential items you need to purchase while waiting for your belongings. This coverage is especially useful when traveling with valuable items or if you rely on your luggage for essential medications or equipment.

Travel Delays

Delays can hamper your travel plans and lead to additional expenses. Travel insurance can cover expenses incurred due to delayed flights, such as accommodations, meals, and transportation. This coverage ensures that you are not left stranded and financially burdened by unexpected delays.

Additional Benefits & Assistance

Travel insurance may also offer additional benefits such as 24/7 travel assistance, emergency hotline services, concierge services, and access to pre-trip information and resources. These services can be invaluable when you need guidance, support, or information while traveling in unfamiliar surroundings.

Different Types of Travel Insurance Coverage Offered by Credit Card

Several credit cards provide various types of travel insurance when you use them to pay for flights, rental cars, and other travel expenses.

Travel insurance coverage provided by credit cards can vary depending on the issuer and type of card. However, there are common types of travel insurance coverage that you may find with certain credit cards.

Trip Cancellation/Interruption Insurance

This coverage reimburses you for any unused, prepaid, non-refundable travel expenses if you have canceled or interrupted your trip due to covered reasons, such as illness, injury, or severe weather.

Baggage Delay

If your checked baggage is delayed or lost by the airline, this coverage provides reimbursement for essential items you need to purchase, such as clothing and toiletries. The length of the delay required and the coverage offered vary by card.

Lost Luggage Insurance

If your bags are lost or damaged by a carrier or items have been stolen from your baggage, your provider may provide monetary compensation.

Trip Delay Insurance

If your trip on a common carrier is delayed, you may receive monetary compensation to help cover meals, hotels, transportation, and necessary purchases during the delay.

Emergency Medical & Dental Insurance

If you become injured or ill while traveling and require medical treatment, you will get reimbursed for medical expenses, including hospital stays, doctor visits, and emergency dental treatments.

Emergency Medical Evacuation

If your illness or injury requires you to return home immediately for care, this coverage provides assistance and reimbursement for emergency medical transportation, including air ambulance services, or medically necessary repatriation to your home country.

Travel Accident Insurance

In the case of accidental death or dismemberment, while traveling on a common carrier, this coverage will provide financial protection.

Rental Car Insurance

This coverage protects your rental car against theft and damage. It saves you from having to purchase additional insurance from the rental car company.

As we have seen, credit cards provide a range of travel insurance benefits and coverage tailored to your travel needs. Although travel insurance provided by credit cards is not as comprehensive as a standalone travel insurance policy, it may provide enough coverage for certain tips.

If you know which credit card to use, you do not have to buy an additional travel insurance policy for your travel abroad.

If you want to buy standalone travel insurance plans, travel insurance companies offer comprehensive travel insurance coverage that will meet your varied requirements.

For more information on travel insurance, visit VisitorsCoverage.com!

Top Credit Cards with Travel Insurance

To help you make an informed decision, we have listed below the top credit cards that provide robust travel insurance coverage. Explore the options below and find the perfect credit card to protect your travel adventures.

Chase Sapphire Reserve: Most Comprehensive Travel Insurance Coverage on the List

The Chase Sapphire Reserve is a credit card with extensive travel insurance benefits. It provides a wide range of coverage, including medical, trip cancellation, trip interruption, trip delay, lost and damaged luggage, delayed luggage, emergency evacuation, and primary rental car insurance.

Compared to other cards, the coverage amount offered by this card is generally higher. Additionally, for trip delays and baggage delays, the coverage takes effect after just six hours of delay.

Sign up Bonus

60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening.

Rewards

• Earn 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards
• Earn 5X total points on flights through Chase Ultimate Rewards
• Earn 3X points on other travel and dining
• Earn 1 point per $1 spent on all other purchases  

Annual Fee: $550

Travel Insurance

• Baggage delay: Up to $100 reimbursed per day for up to five days if a passenger carrier delays your baggage for more than six hours.
• Lost/Damaged Baggage: Up to $3,000 per passenger per trip
• Trip Delay: Up to $500 per ticket for delays more than six hours or requires an overnight stay.
• Travel Accident: Accidental death or dismemberment coverage of up to $100,000 (up to $1,000,000 for common carrier travel)
• Trip cancellation and interruption: Up to $10,000 per person and $20,000 per trip for pre-paid non-refundable travel expenses
• Medical evacuation benefit: Up to $100,000 for necessary emergency evacuation and transportation.
• Emergency medical & dental benefit: Up to $2,500 for medical expenses (subject to a $50 deductible) when on a trip arranged by a travel agency and traveling more than 100 miles from home.
• Rental car coverage: Up to $75,000 on rentals of 31 days or less.

Chase Sapphire Preferred Card: Best Travel Insurance Card with an Annual Fee under $100

The Chase Sapphire Preferred Card is a favorite among travelers. The card is one of the best travel rewards credit cards for the average traveler because it offers good enough travel insurance coverage for a card with an annual fee of less than $100. With this card, you’ll enjoy trip cancellation/interruption insurance, baggage delay insurance, and primary car rental insurance. It also earns valuable Chase Ultimate Rewards points that can be redeemed for travel expenses.

However, the travel protections offered by this card are not quite as good as those offered by the Chase Sapphire Reserve.

Sign-Up Bonus

60,000 bonus points after spending $4,000 on purchases in the first 3 months from account opening.

Rewards

• 5X on travel purchased through Chase Ultimate Rewards
• 3X points on dining out
• 3X points on select streaming services
• 3X points on online grocery purchases
• 2X on all other travel purchases
• 1X point on all other purchases

Annual Fee: $95

Travel Insurance

• 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.
• Trip Delay: Up to $500 per ticket for delays more than 12 hours or requiring overnight stay
• Travel Accident: Accidental death or dismemberment coverage of up to $100,000 (up to $500,000 for common carrier travel)
• Trip cancellation and interruption: Up to $10,000 per person & $20,000 per trip for pre-paid non-refundable travel expenses
• Rental car insurance: 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.

The Platinum Card from American Express: Best for Luxury Travel Benefits

The Platinum Card from American Express is intended for frequent travelers seeking luxury travel benefits and Platinum Concierge Service.

In addition to its elite travel perks, the card provides extensive travel insurance coverage. You will be covered for trip cancellation/interruption, baggage loss/damage, and access to the Global Assist Hotline for emergency assistance while traveling.

Sign-Up Bonus

 Earn 80,000 points after you spend $6,000 on purchases on the card in the first 6 months of card membership.

Rewards

• 5X Membership Reward points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year.
• 5X Membership Rewards Points on prepaid hotels booked with American Express Travel.
• 1X on other purchases

Annual Fee: $695

Travel Insurance

• Lost Luggage: Up to $3,000 per passenger (when the entire fare for a ticket for the trip (one-way or round-trip) is charged to an eligible card).
• Trip Delay: Up to $500 per covered trip for delays of more than 6 hours
• Trip cancellation and interruption: Up to $10,000 per covered trip. Maximum benefit of $20,000 per 12-month period for prepaid, non-refundable travel expenses.
• Travel accident insurance up to $500,000 in case of accidental death or dismemberment while traveling on a Common Carrier Conveyance, when the entire fare has been charged to the Platinum Card.
• Rental car insurance up to 75,000 for damages caused by theft or collision on rentals of 30 days or less.

Capital One Venture X Rewards Credit Card: Popular for its Simplicity and Flexibility

Alongside its robust rewards program, the Capital One Venture Rewards Credit Card provides travel insurance coverage, including trip cancellation and interruption insurance and travel accident insurance. You can redeem your rewards for travel-related expenses at any time.

Sign-Up Bonus

 Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening.

Rewards

• Earn unlimited 2 miles per dollar on every purchase
• Earn unlimited 5 miles per dollar on hotels and rental cars booked through Capital One Travel

Annual Fee: $95

Travel Insurance

• Lost Luggage: Up to $3,000 per passenger. For New York State residents, coverage is limited to $2,000 per bag
• Travel accident insurance: Up to $250,000
• Rental Car Insurance: Covers damage or theft with restrictions. Eligible rental periods are limited to 15 days in the cardholder’s home country or 32 days outside.
• Travel and Emergency Assistance

Bank of America Premium Rewards Credit Card: Best Card for Travel Rewards

The Bank of America Premium Rewards credit card offers a compelling blend of rewards and travel insurance benefits. With this card, you’ll have access to trip cancellation/interruption insurance, baggage delay insurance, and travel accident insurance. Additionally, it allows you to earn unlimited points on every purchase.

Sign-Up Bonus

Earn 60,000 online bonus points after you spend at least $4,000 in purchases in the first 90 days of account opening.

Rewards

• Earn 2 points for every $1 spent on travel
• Earn 2 points for every $1 spent on dining purchases
• Earn 1.5 points per $1 on all other purchases

Annual Fee: $95

Travel Insurance

• Trip Delay: Up to $500 per ticket for unexpected trip delays of more than 12 hours
• Trip Cancellation/interruption: Up to $2,500 per person per trip for unused pre-paid, non-refundable travel expenses
• Baggage Delay: Up to $100 reimbursed per day for up to five days for baggage delays of more than 6 hours
• Lost Luggage: Provide coverage for luggage & its contents if they are lost or stolen due to theft or misdirection by your common carrier
• Travel & Emergency Assistance Services: You get help coordinating medical, legal, and travel services when you are traveling. But you will have to pay for any goods and services.
• Emergency Evacuation & Transportation Coverage: Covers eligible medical services and transportation if you or a member of your immediate family are injured or become sick during a trip far from home that results in an emergency evacuation.
• Rental Car Coverage: Get secondary coverage for damages caused by theft or collision

How to Select A Credit Card for Travel Insurance?

When selecting a credit card for travel insurance, consider the following factors to ensure you choose the right one for your needs:

What kind of travel insurance benefits are you looking for?

Not all cards will have the same travel insurance benefits, so you'll need to examine the specific coverage offered by the cards. Some cards offer only limited travel insurance benefits, such as trip cancellation and interruption and secondary car rental insurance benefits, while others may include trip delays, baggage delays, medical emergencies, emergency evacuations, and much more.

How much coverage is enough for you?

No two credit cards are equal, even when they offer some coverage. Understand the coverage limits, exclusions, and any requirements, such as pre-existing condition clauses or minimum spending thresholds, to activate the benefits. Also, you may not be fully covered depending on your total trip cost. Similarly, rental car insurance coverage may not cover all types of rental cars.

Compare the coverage limits and terms of different cards. Read the maximum coverage amounts for medical expenses, trip cancellation, interruption, and baggage loss, to name a few. Go for cards with adequate coverage that align with your needs and potential costs.

When will coverage apply?

Having coverage doesn’t mean that it will apply all the time. Trip cancellation insurance permits trip cancellation only for specific covered reasons. Rental car coverage usually does not encompass liability coverage, indicating that the vehicle is insured but you, as the driver, are not.

What are your travel habits?

Take into account your travel patterns and preferences. Do you frequently travel domestically or internationally? Do you mainly fly or use other modes of transportation? Stay at hotels or opt for alternative accommodations? Examine which types of coverage are most relevant to your travel style and prioritize them when comparing credit card options.

What is the card's annual fee?

Many credit cards with robust travel insurance benefits often come with an annual fee. See if the benefits outweigh the card's annual fee, depending on the expected usage of the card and the value you will receive from the travel insurance coverage. Additionally, consider any other perks or rewards associated with the card that may offset the fee.

If there are additional card benefits?

Besides travel insurance, assess the card's other features, such as travel rewards, airport lounge access, travel-related discounts, or concierge services. These additional perks can enhance your overall travel experience and provide added value.

What are people saying about the cards?

Research online reviews and seek recommendations from other travelers who have experience with the credit cards you're considering. Their insights can offer valuable perspectives on the reliability and quality of the travel insurance coverage provided.

Lastly, read the fine print and remember that credit card terms and conditions can change over time, so it's essential to review the details and confirm the coverage before applying for the card.

Frequently Asked Questions

How do I file a travel insurance claim with my credit card?

The process for filing a travel insurance claim varies among credit card issuers. It's best to contact the number on the back of your card to inquire about the necessary steps to initiate the claim process.

Is credit card travel insurance sufficient?

It depends. Review the details provided in the credit card's coverage documents and assess if the coverage amount and reasons covered are adequate for your specific trip and personal circumstances. If not, consider obtaining a separate travel insurance policy that offers additional coverage. It's also important to consider whether your health insurance extends coverage to out-of-state or international claims. Each insurance company has specific policies that should be understood before embarking on your travels.

Does credit card travel insurance work?

Credit card travel insurance does work, but the types of coverage, coverage amounts, and limitations can differ significantly from one card to another. Carefully read the fine print in documents such as your credit card agreement and benefit terms to understand the limits and exclusions of the benefits. Be prepared for some back-and-forth communication if you need to submit a claim.

Conclusion

Credit card travel insurance can provide valuable coverage and benefits for your trips. To get the best credit card for travel insurance, it's essential to thoroughly understand the specific terms, limitations, and coverage offered by credit cards.

Carefully review the fine print and assess if the coverage amount and reasons covered align with your travel needs. Depending on your circumstances, it may be necessary to supplement your credit card coverage with a separate travel insurance policy.

While credit card travel insurance can be beneficial, it's crucial to be informed and prepared to ensure you have the necessary protection for a worry-free and enjoyable travel experience.

For more information on travel insurance, visit VisitorsCoverage.com!

Travel insurance and sending money overseas are two important aspects to consider when planning international trips. If you are looking to send money overseas, it is important to consider exchange rates, choose a reliable, cost-effective money transfer that will help you save on fees, and maximize the amount received by your recipient. For instance, when sending USD to INR, it is important to compare the USD/INR exchange rates and find the most favorable option for sending money.

Both travel insurance and sending money overseas require careful consideration and research to ensure a smooth and secure experience during your international journeys.