You’ve probably heard about credit card travel insurance and how it can protect you during your travel. But before you rely on it entirely, let’s take a look to see what it truly offers.
What is Credit Card Travel Insurance
Credit card travel insurance promises to cover canceling your trip, medical emergencies, as well as lost luggage. But, there are some important things to consider:
- Limited Coverage: The insurance only applies to specific expenses that were purchased with your credit card. This means not everything you think would be covered will actually be protected.
- Restrictions: There are limits on how much the insurance will pay for medical expenses, lost luggage, and other costs. Additionally, if you have a pre-existing medical condition, it might not be covered.
- Fine Print: Read all the details carefully because there are often intricate rules and conditions (see the first two points!). Many people miss out on claims because they need help understanding stipulations.
- Claim Process: If you need to make a claim, it can be a long and perplexing process. You’ll need to provide a lot of evidence (like receipts), and sometimes the insurance company might not agree to pay.
Consider Standalone Travel Insurance
Instead of relying only on credit card insurance, you might want to consider standalone travel insurance. Here’s why:
- Customized Coverage: With standalone insurance, you can tailor your coverage to fit your needs completely.
- More Coverage: Standalone insurance typically covers a broader range of incidences compared to credit card insurance.
- Clearer Terms: The terms and conditions are usually easier to grasp, so you’re less likely to have issues with your claims.
- Help When You Need It: If something goes awry during your trip, standalone insurance companies, additional assistance is a phone call away.
Making the Right Choice
- Compare Options: Consider different travel insurance plans to find the one that fits you and your budget.
- Read Carefully: Don’t just skim the information – make sure you comprehend all the details, including what’s covered and what’s not.
- Be Honest: If you have any pre-existing medical conditions, inform the insurance company upfront. Otherwise, your claim might be rejected.
- Know the Limits: Make certain you know how much the insurance will pay for different things and what you need to do to make a claim.
- Keep Records: Save all your travel receipts and paperwork in case you need them for a claim later on.
Travel Smart
By picking the right insurance, you can enjoy your trips without worrying about surprise expenses. Remember, while credit card insurance can help, know that you may be taking a risk. Standalone travel insurance is often a better choice for full protection.
Before your next adventure, discover why standalone travel insurance might offer better protection with tailored coverage and transparent terms. Give one of our agents a call today at 1-866-497-6231.
Happy travels!