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Credit Cards with Travel Insurance for October 2020

Credit Cards with Travel Insurance for October 2020

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Oct 01, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

You just found out your flight is delayed until tomorrow, and now you have to make hotel accommodations and food arrangements last minute. Or you have a medical emergency where you need to get help quickly. Before you cover those expenses out of pocket, take a look at your credit card terms as some credit cards offer travel benefits that include travel insurance for when your plans go awry.

When you use these cards to book your travel arrangements, you may be able to benefit from various travel insurances that can come in handy if your flight is delayed, if you need to cancel a trip or if your luggage is lost.

Below, we list credit cards that offer a variety of travel insurances and the types of protection you can typically expect. Keep in mind the offerings differ by credit card, so be sure to read the terms and conditions of your card carefully so you’re aware of the specific benefits you receive.

Trip cancellation / trip interruption insurance

There are cases where an unexpected event may occur that forces you to cancel your trip or cut it short. Unfortunately, not everyone takes out travel insurance or purchases refundable trips, so the cost for canceling or ending a trip early can be quite high.

Read: Flight delayed or canceled? Here’s what you need to do

Credit cards that offer trip cancellation or trip interruption insurance may provide coverage if you need to cancel your trip due to sickness, severe weather or other eligible situations. Note, there may be either quarterly or yearly maximums on how much coverage you may receive per trip. Be sure to check your card’s terms & conditions for full details.

Cards to consider:

  • IHG® Rewards Club Premier Credit Card
  • Ink Business Preferred℠ Credit Card
  • Bank of America® Premium Rewards® credit card
  • Chase Sapphire Preferred® Card
  • Chase Sapphire Reserve®

Read: Getting Proof for a Trip Delay or Cancellation Coverage Claim

Trip delay insurance

If your flight is significantly delayed, you often have to make arrangements such as booking a hotel and purchasing additional meals. These added expenses can tally up to hundreds of dollars.

That’s where credit cards with trip delay insurance may come in handy — these cards typically offer reimbursement for lodging and meals up to a certain dollar amount per common carrier ticket, such as an airplane or train ticket, when your trip is delayed a set amount of hours.

Cards to consider:

Read: How to file a flight delay claim with Chase

Travel accident insurance

When you travel anything can happen, such as an unfortunate accident that seriously hurts you or an immediate family member. By purchasing a trip with a card offering travel accident insurance, you may be covered for certain accidents, and they may include accidental death or dismemberment while on a common carrier or during your trip. Note, coverage is limited to a certain dollar amount.

Cards to consider:

Emergency evacuation insurance

A medical emergency can happen during a trip when you or a member of your family need to get to a hospital for immediate care, or the country you’re in has had an incident that requires you to leave immediately. It can be a nightmare to coordinate travel home when a crisis happens. Thankfully, there are a couple of credit cards that offer help to get you home quickly.

Cards to consider:

  • The Ritz-Carlton™ Credit Card
  • Chase Sapphire Reserve®

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.

  • One Year Complimentary Lyft Pink ($199 minimum value). Complimentary DashPass subscription from DoorDash after activating by 12/31/21.

Highlights
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
  • 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select
  • Up to $100 application fee credit for Global Entry or TSA Pre✓®
  • One Year Complimentary Lyft Pink ($199 minimum value). Complimentary DashPass subscription from DoorDash after activating by 12/31/21.

See additional details for Chase Sapphire Reserve®

More Info

Baggage insurance

There are several types of baggage insurance that may be referred to as lost luggage insurance or baggage delay insurance. Depending on the coverage your card offers, you may receive reimbursement if your checked or carry-on baggage is damaged, lost or stolen while on a common carrier or delayed.

Lost luggage (or baggage) insurance often covers both your luggage and its personal contents. Typically, there are certain restricted items that aren’t covered, such as cash and tickets. Meanwhile, baggage delay insurance may cover items purchased while your baggage is delayed a certain amount of time, such as clothes or toiletries. There are also items that aren’t eligible for coverage. Terms apply to American Express credit card offers. See americanexpress.com for more information.

Cards to consider:

Travel insurance FAQs

Credit card travel insurance comes with specific terms and conditions that limit the coverage you may receive and outline the exact definitions of your plan. It’s important to review the terms provided with your card prior to booking travel so you’re aware of what may or may not be covered.

Here are some frequently asked questions regarding credit card travel insurance policies, as well as additional options to cover you during travel:

What types of travel insurance do credit cards offer?

Travel rewards credit cards often offer a variety of travel protections, including trip cancellation and trip interruption insurance, trip delay insurance, travel accident insurance, emergency evacuation insurance and baggage insurance.

Do you need to purchase your trip using your card to be eligible?

You typically have to pay for your entire trip with your card to be eligible for coverage. Some cards may allow you to pay a portion of your trip with your card, but refer to your terms and conditions for exact details.

How long do I have to file a claim?

Many policies require you to file a written claim within a certain amount of days from the occurrence in order to be eligible for coverage. This may range anywhere from 20 to 180 days.

Should credit card travel insurance be your primary coverage? Credit card travel insurance is often secondary to any other coverage you have. This means that, in the event of an accident or flight cancellation, your primary insurance or the airline will reimburse you, and your credit card insurance will cover any remaining amount.

Additionally, because your credit card may offer limited travel insurance and/or strict guidelines for coverage, it may be worthwhile to purchase additional travel insurance to ensure that your entire trip is covered.

Is there a cap on your coverage?

Coverage is often limited to a certain dollar amount. Travel insurance policies typically cap the amount of coverage you receive per person per trip. For example, a trip delay insurance plan may cover up to $500 per person per trip — that means you’re responsible for costs exceeding $500.

Are there limits on what’s covered by baggage insurance?

If you have baggage insurance, you should note that everything in your bag may not be covered. Many insurance plans don’t cover cash, checks, tickets or other items. Restrictions also may apply to other types of insurance, like travel accident insurance and trip delay insurance.

Is the airline required to compensate you for delayed or canceled flights?

According to the U.S. Department of Transportation, if your flight is delayed, there is no federal law that requires airlines to provide money or other compensation to passengers. However, if your flight is canceled, the airline will most likely book you on the next available flight at no additional charge.

Will you be covered if you cancel your trip due to an illness?

Depending on the credit card, your trip may be covered by trip cancellation and trip interruption insurance. For example, with the Chase Sapphire Reserve® card, if the primary cardholder, a traveling companion or an immediate family member experiences sickness — whether before you leave, after you leave and even on your way to leave — your trip will be covered. However, if you need to cancel travel due to a pre-existing condition, you will not be eligible to receive reimbursement or compensation for that trip.

Does travel insurance protect you against a pandemic?

If you or a traveling companion are physically quarantined due to a viral outbreak, such as the coronavirus, you may be covered by trip cancellation and trip interruption insurance.

However, travel insurance typically will not cover you if you cancel your trip due to fear of a pandemic. Additionally, once an outbreak becomes common knowledge, it is considered a foreseeable event and excluded from travel coverage.

If you want to cancel a trip due to a pandemic, your only option may be to upgrade your travel insurance to include Cancel for Any Reason (CFAR) coverage. Depending on the policy, this benefit can be purchased within 15 days of your initial trip deposit, and may cover up to the full cost of your insured trip.

Are there alternatives to credit card travel insurance?

If you have homeowners insurance, you may automatically be covered for some accidents that happen while traveling, such as a broken appliance at a vacation rental property. Your current car insurance policy may also provide coverage for your rental car.

You can also purchase coverage from a travel insurance company. For example, AIG’s Travel Guard offers a variety of plans that provide global travel assistance and coverage for natural disasters, medical expenses, lost baggage and more. Other travel insurance companies are Allianz Travel and Travelex. According to insuremytrip.com, the average cost for coverage can range from 4% to 10% of the prepaid, nonrefundable price.

The information related to The Ritz-Carlton™ Credit Card and Ink Business Preferred℠ Credit Card has been independently collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication.


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