Should travel insurance still be a consideration when credit card trip coverage is present?
In the world of travel, understanding the coverage you have is crucial to ensuring a stress-free journey. While credit card travel protections can offer some benefits, travel insurance often provides more comprehensive and customizable coverage for various travel-related mishaps.
Medical Emergencies
When it comes to medical emergencies, travel insurance typically provides robust emergency medical coverage, including emergency evacuation, with coverage amounts ranging broadly (often up to $1 million). In contrast, credit card travel protection often provides limited or rare medical coverage and may not be sufficient for serious medical needs abroad.
COVID-19 Trip Delays and Cancellations
Many travel insurance policies include COVID-19 coverage either as part of standard plans or as add-ons, offering protection against trip delays and cancellations due to COVID-19-related issues. In contrast, credit card travel protection typically does not explicitly cover COVID-19 trip interruptions comprehensively, and coverage may vary widely based on the card issuer.
Lost Bags
Both travel insurance and credit card travel protection commonly cover lost, stolen, or delayed baggage, although credit card policies often apply fixed limits. Travel insurance may offer higher coverage limits and the ability to customize coverage specific to your trip needs.
Flight Delays and Missed Connections
Credit card protection usually includes some coverage for trip delays and missed connections, provided the flights or transportation were purchased with the card. Travel insurance offers broader trip delay and interruption protection, including reimbursement for unused prepaid costs if you miss connections or face lengthy delays.
Other Considerations
Travel insurance policies offer customization, covering adventure activities and pre-existing conditions, while credit card protections are fixed benefits tied to card use. Credit card protection typically requires booking travel with the card to activate coverage. Travel insurance plans have dedicated claim support, whereas credit card claim service quality varies.
For long, international, or high-risk trips, or when strong medical and COVID-19-related protections are needed, dedicated travel insurance is superior. Credit card travel protection may suffice for short domestic trips with minimal prepaid costs and where your primary health insurance covers emergencies abroad.
When planning a trip, putting travel coverage at the top of the list is advisable. Key benefits to look for in a travel insurance policy include emergency medical expenses, medical and non-medical evacuation, lost luggage, flight delays, and cancellations.
However, not all travel insurance policies offer comprehensive protection. A strong travel insurance policy should cover COVID-19-related issues and may offer Cancel For Any Reason (CFAR) coverage for pre-existing medical conditions.
In conclusion, while credit card travel protections can provide some coverage, they rarely match the comprehensive coverage of dedicated travel insurance, especially in areas like emergency medical expenses and emergency medical evacuation. Always review your specific credit card’s benefit guide and compare it with travel insurance offerings for your particular trip.
[1] Travel Insurance Review [2] Travel Insurance Comparison [3] Travel Insurance Guide [4] Travel Insurance Coverage [5] Travel Insurance Blog
- Travel insurance policies offer customization, providing coverage for various travel-related mishaps such as emergency medical expenses, medical and non-medical evacuation, lost luggage, flight delays, and cancellations.
- Credit card travel protection usually includes coverage for trip delays and missed connections, but travel insurance offers broader trip delay and interruption protection including reimbursement for unused prepaid costs if you miss connections or face lengthy delays.
- Many travel insurance policies include COVID-19 coverage either as part of standard plans or as add-ons, offering protection against trip delays and cancellations due to COVID-19-related issues.
- For long, international, or high-risk trips, or when strong medical and COVID-19-related protections are needed, dedicated travel insurance is superior to credit card travel protection.
- Before purchasing a travel insurance policy, it's advisable to review the coverage it provides, including lost bags, flight delays, and lost luggage, to ensure comprehensive protection for your particular lifestyle, budget, and travel needs.
