Benefits of a credit card with complimentary travel insurance

Published On June 10, 2018 | By Clare Louise | Business

If you love travelling, then one of the first things on your to-do list should be getting a travel insurance plan. Travel insurance helps to cover unexpected costs that might arise on your trip. However, getting a travel insurance plan can be an expensive affair.

This is where credit cards with complimentary travel insurance come in. You can apply for a credit card with complimentary travel insurance to get the coverage you require overnight, without having to go through the process of buying the insurance plan itself.

So, who is covered under this plan?

Usually, these benefits only pertain to the cardholder. If you have family travelling with you, they may be eligible for reduced amounts. But, one of the advantages is that you and your spouse are most definitely covered. The other travelling members will be required to get their own insurance plan.

Check the details of the card online to understand the eligibility criteria and the travel insurance benefits you will be receiving when you apply for this. You may need to activate this credit card travel insurance before you set out to travel. This can be done online by visiting the website of your credit card provider. Once this is done you are all ready to enjoy an extensive range of benefits included in this travel insurance.

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What are the benefits?

The free-of-cost travel insurance that comes with a credit card is one of the most sought-after features that credit card holders can enjoy. Let us take a look at some upsides of this complimentary travel insurance with your credit card.

  • Most travel insurance policies that you acquire from insurance agents do not cover cash. If they do, it is only for a small amount, like $100 or $200. On the other hand, credit card travel insurance covers up to about $500 for an individual and $1000 for a family.
  • Complimentary travel insurance also covers luggage and baggage items. Most ordinary travel insurance plans have very low limits on your personal items- about $2000 only. But certain credit cards cover up to $15000 per person and about $30,000 for the family. The per item claim limits on the card are also quite satisfactory- $5000.

This is one of the many reasons why complimentary travel insurance on credit cards is so popular amongst people who travel frequently.

  • One of the claims that are definitely not covered by ordinary travel insurances is the transport or transit cover. Under this plan, if you purchase a plane, train, or even bus ticket, you will be insured against a very high amount- about $1,000,000 on death. In case both you and your spouse are fatally injured on the trip, your family will receive about $750,000 as insurance money.
  • While most ordinary insurances do not offer this insurance at all, the ones that do offer it do not provide a return of more than $50,000 under normal circumstances. So that is another immense advantage that comes when you apply for credit card with complimentary travel insurance.

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