If you travel a lot, chances are that you are used to the airport crowds and similar things. Yet, you will never stop worrying that your luggage may be lost, or that your flight may be delayed for one reason or another. Even though things don’t always go wrong, it is important for you to be prepared in case they do. For example, you don’t want to wind up having to pay for last-minute hotel accommodations if you can avoid it, as that can turn out to be rather expensive.
Now, as I have explained, things don’t always go wrong. In fact, they often don’t. But still, getting prepared for them is quite important. And, in case you didn’t know it, managing those disruptions that could happen could be much less expensive if you simply paid with your credit card, provided that it is the right one. This is because some of the cards offer insurance that could help you easily cover the costs that will come with all of those disruptions.
As a frequent traveler, you may have already added a credit card to your financing options, given that this is a highly convenient and safe financial instrument. Plus, you will be sure not to run out of money while on vacation or on any kind of a trip if you rely on the cards. While you get the importance and the benefits of credit cards, what you may be wondering is whether getting travel insurance on those cards is actually possible? Understanding that this could be of great help, you want to find out right away if this could be an actual possibility, so as to know whether you should be taking any next steps towards it or not.
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Can You Get Travel Insurance on a Credit Card?
So, in short, the question is whether you can get travel insurance on credit card or not. Perhaps you are used to getting insurance separately, given that the cards you are using aren’t offering it. And, that may have led you towards believing that no card at all can offer this particular option. I get where such an assumption may be coming from, but the truth is that it is completely wrong. What does that mean, then?
To put it simply, it means that there are certain credit cards out there that can offer you travel insurance. So, there is no reason to settle for those that don’t, when you can find the perfect solutions instead. To be more precise, this means that, when you get that type of a card, you won’t have to be paying extra for insurance and you will, instead, have it included in the initial offer. Quite useful, isn’t it?
There is more. This type of insurance often doesn’t apply solely to one traveler. Meaning that there are cards that offer the option for the entire household or perhaps for a specific number of other people that are traveling with you, regardless of whether you are related or not. This is also extremely useful, and it is no wonder that people have started relying more and more on these types of cards that provide them with proper insurance while they are traveling. So, it is no wonder you are considering the option as well.
How Does It Actually Work?
Now that you understand that this is a genuine possibility, that is, that you can in fact get travel insurance on a credit card, the next thing you are most probably wondering is this. How does that type of insurance actually work at all? So, let me explain that next, hoping to make things completely clear, after which we will proceed towards the actual process of helping you get travel insurance on a credit card in the first place.
Basically, this insurance is a kind of a safety net for those people that are traveling, because it provides protection against various kinds of unexpected events, including medical emergencies, lost luggage and trip cancellations. There are, of course, numerous different aspects that this type of insurance can cover, apart from the three I have mentioned above, and you need to get familiar with those in order to get a clearer understanding of the entire concept.
For one thing, through this solution, you will get car rental insurance, which will cover you and the additional drivers that have been added to the rental agreement. The coverage will include damage and theft, but there will, of course, be an upper limit regarding the amount that can be covered, which differs from one provider to another. Naturally, whether the specific card will offer rental insurance or not will also depend on the provider you will choose.
The same goes for baggage, trip delay, as well as trip cancellation or disruption insurance. Those are some common features that are offered on credit cards, but which one will be specifically offered depends on the card provider you will select, meaning that you need to be quite careful to consider everything that is covered before you decide which particular financial tool to apply for and use on your travels. In addition to those that are mentioned, travel accidents and emergency evacuations are also often covered by this particular insurance.
As you may have guessed it, there are certain requirements that come with this, meaning that there are criteria for you to meet in order to be eligible for the insurance. As explained on this website, those requirements are related to the idea of paying your travel costs with the actual card. As for the amount, or better yet the percentage, you should pay with the card, it differs from provider to provider. Usually, you will be required to pay at least half the travel amount with your credit card, meaning half of the plane ticket, half of the package tour, half of the car rental fees etc.
How to Do It?
You’ve understood that getting travel insurance through a credit card is possible. What you want to do next is figure out how to actually do it. The great thing is that the process won’t be difficult at all, but you will have to take your time to go through the right steps and thus make the best possible choice for you. So, let me now take you through those steps.
Find Options That Offer It
I have explained already that not all of the cards you will find will offer the option of travel insurance. This means that you will need to be careful not to apply for just any solution you come across and to, instead, take the time you need to find those solutions that offer the coverage you need. How can you do this, though?
Easily. Start by asking around, but continue by searching for the different solutions online. Additionally, use comparison websites that will list all of the potential offers in one place, while also allowing you to easily compare them and thus figure out which solution could be best for you and which ones you may want to avoid. This is just the first step, though, meaning you’ll have to know what to compare as well, so as to make the best decision.
Research Providers
For one thing, you should research the actual providers in more details, with the aim of finding those that are experienced and reputable enough. After all, you don’t want to wind up working with ill-reputed providers that could be making offers that won’t quite be right for you. So, do your best to thoroughly research the providers before making any final decisions.
Compare the Coverage
Most importantly, you will need to compare the actual coverage. That is, you will need to see what it is precisely that is offered under the travel insurance credit card. I have mentioned above that you can expect rental car insurance, protection against lost luggage, trip cancellations and delays and similar things. It is your task, however, to take a closer look at what each of the solutions you’re considering covers, so that you can be sure you will get the best value for your money.
Compare the Fees
Speaking of the best value for your money, you will also have to check and compare the actual fees associated with the credit cards you’re considering. This way, you’ll get to compare the quality of the offer and the prices as well, aiming at getting the most reasonable solution. Those comparison websites I have mentioned can help you compare the fees as well, and thus make an informed decision in the end.