Credit Card Travel Insurance

A Complete Guide to Credit Card Travel Insurance (2022)

  • May 24, 2022
  • 7 min read
  • Read Icon44 reads

When people think of credit card benefits, they usually think about things like cash back, travel rewards or airline miles. However, most credit cards also offer something called travel insurance as a standard feature.

Travel insurance provides you with financial protection in the event of an accident or emergency that causes you to cancel your trip or cut it short.

In some cases, travel insurance can also help reimburse you for expenses related to your trip if something unexpected happens.

There are many different types of travel insurance available and not all of them are created equal. Depending on your needs and what coverage is available from your credit card issuer, you might want to compare different plans before making a final decision.

Here’s everything you need to know about credit card travel insurance as well as some helpful advice before purchasing a plan:

What is Credit Card Travel Insurance?

Credit card travel insurance is a product offered by some credit card companies that protects you against certain types of risk associated with travel. There are a variety of different travel insurance plans available, and the coverage offered by one credit card company may vary significantly from another.

💡 Compare travel insurance plans here.

When purchasing travel insurance, you’ll need to decide on the level of credit card coverage you want, which could include coverage for cancellation or trip interruption, emergency medical expenses, lost or stolen luggage, or trip delay.

As long as you pay your travel expenses using your credit card, you should be able to add travel insurance coverage to protect against the things that might go wrong on your next trip.

How Does Credit Card Travel Insurance Work?

Credit card travel insurance is quite simple – you just have to enroll in the travel insurance plan that is included with your credit card. Depending on the card you have selected, you may have to click a few times to select your type of coverage.

Once you are all set, you should receive a confirmation email stating that you are now covered against the common travel mishaps like lost luggage, medical emergencies or trip cancellation.

Most travel insurance policies will only kick in if you cancel or interrupt your trip or if you suffer an injury that prevents you from being able to travel as planned.

You will have to prove that you have been affected by one of these events in order to be reimbursed by your credit card company.

Here are some of the best credit cards with travel insurance:

  • Destiny Mastercard
  • Chase Sapphire Reserve® Card
  • Chase Sapphire Preferred® Card
  • Marriott Bonvoy Brilliant™ American Express® Card
  • Southwest Rapid Rewards® Plus Credit Card
  • United Explorer Card
  • Delta SkyMiles® Gold American Express Card
  • The Platinum Card® from American Express Card
  • Capital One Venture Rewards Credit Card
  • Hilton Honors American Express Aspire Card

Earning Travel Rewards Or Miles While Enrolling In Travel Insurance

One of the great things about credit card travel insurance is that it doesn’t cost you anything extra to enroll in the plan. In fact, travel insurance is often included as part of a card’s standard benefits package, so you don’t have to do anything special to sign up for it.

If you have travel insurance and have to cancel or interrupt your trip for any reason, you will be able to keep any rewards or miles that you would have earned if you had gone on the trip.

For example, say you have earned 100,000 miles on a particular airline that you would have redeemed for a free flight.

If you have to cancel your trip due to illness, you would keep those miles in your account and be able to use them as you wish at a later date.

Covers and Disclaimer

The credit card travel insurance covers certain events such as trip cancellation, trip interruption, lost or stolen luggage, emergency medical expenses and it even offers some coverage for lost or stolen items while at your destination.

In most cases, if you have an accident or get sick while travelling, your credit card travel insurance will provide you with coverage.

This can help you to avoid going into debt or even declare bankruptcy due to medical bills or other expenses. A credit card travel insurance is designed to be used as an emergency safety net. You should not expect to be able to file a claim for every little thing that goes wrong on your trip.

Your credit card travel coverage does not cover everything that could go wrong during travel. There are many possible situations that travel insurance does not cover.

This includes, but is not limited to, pre-existing medical conditions, pregnancy, sports, war, terrorism, car rental theft/damage, loss of your passport, missing a flight due to a missed connection, natural disasters and extreme weather conditions.

Visa Signature Travel Protection Program

The Visa Signature travel protection program is included with Visa Signature and Business cards. This travel insurance policy is provided by AIG Travel Guard and has two levels of coverage: Standard and Enhanced.

The Standard level of coverage is included free of charge and provides medical expense reimbursement up to $75,000 and trip cancellation coverage up to $10,000.

The Enhanced level of coverage can be purchased for an extra fee and provides medical expense reimbursement up to $150,000, trip cancellation coverage up to $25,000 and offers 24/7 travel assistance services.

The coverage provided by the Visa Signature travel protection program is comparable to the coverage offered by most other credit card travel insurance plans.

Mastercard Travel Protection Program

The Mastercard travel protection program is provided by Assurant. This travel insurance policy has two levels of coverage: Standard and Exceptional.

The Standard level of coverage is included free of charge and provides medical expense reimbursement up to $75,000, trip cancellation coverage up to $5,000 and trip interruption coverage up to $5,000.

The Exceptional level of coverage can be purchased for an extra fee and provides medical expense reimbursement up to $150,000, trip cancellation coverage up to $25,000 and trip interruption coverage up to $25,000.

The coverage provided by the Mastercard travel protection program is comparable to the coverage offered by most other credit card travel insurance plans.

Discover Travel Insurance Program

The Discover travel insurance program is provided by AIG Travel Guard and has two levels of coverage: Standard and Enhanced. The Standard level of coverage is included free of charge and provides medical expense reimbursement up to $75,000 and trip cancellation coverage up to $10,000.

The Enhanced level of coverage can be purchased for an extra fee and provides medical expense reimbursement up to $150,000, trip cancellation coverage up to $25,000 and offers 24/7 travel assistance services.

The coverage provided by the Discover travel insurance program is comparable to the coverage offered by most other credit card travel insurance plans.

Bottom line

Credit card travel insurance comes with many benefits for those who travel. It is important to understand what is covered by your particular policy and when you can file a claim. Make sure to read the fine print and keep an eye on any deadline dates or policy limitations.

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    Lorien is the Country Manager for Financer US and has a strong background in finance and digital marketing. She is a fintech enthusiast and a lover of all things digital.

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