Travel Insurance From Your Credit Card Provider

When most people think about the rewards associated with owning acredit card, they imagine reward points, cashback, and air miles. Did you know, however, that many credit cards now come with free travel insurance? When you use those cards to pay for trips, not only do you earn points and air miles, you also get free complimentary travel insurance coverage. The insurance typically covers lost luggage claims and the cost of medical treatment in the event of an illness or accidental injury.

Perhaps one of the most popular cards for seasoned international travelers is the Chase Sapphire Reserve credit card. When the card is used to pay for travel costs, spenders can enjoy lots of benefits including a reimbursement of up to $10,000 in the event that a trip has to be canceled due to unforeseen circumstances. The card also provides up to $500 of cover for travel delays and cover for lost or stolen baggage. Furthermore, the travel insurance benefits extend to a cardholder’s immediate family members, even when the main cardholder is not the one traveling. Unfortunately, the card does have a steep annual fee of $450, so you need to be a frequent traveler in order to justify the fee.

The Citi Prestige credit card is another card that is popular with frequent travelers. It providers baggage delay cover of up to $500 per traveler. Make sure you read the terms and conditions carefully, as the insurance benefits do not cover items purchased during the trip.

The American Express Platinum credit card is arguably the best card for providing medical emergency insurance cover during a trip abroad. A cardholder can call the Premium Global Assistance Hotline at any time during their trip if they require medical attention. The hotline team will coordinate medical evacuation from the site of injury or illness. Falling seriously ill while overseas is one of many international travelers’ biggest fears, as the cost of international healthcare can be thousands of dollars. The Platinum Card From Amex offers travelers peace of mind.

So, before you book your next travel plans, make sure you check whether any of the credit cards you already have offer free travel insurance. If none of them do, it might be worth applying for a new credit card that does. A benefit like this could help you to save a lot of money when it comes to obtaining insurance for your international travel. What’s more, some of the best credit cards also offer zero fees on all foreign currency transactions.