International trips have become the new trend and people often embark on their journeys without properly ensuring their trips. Most travellers believe that their credit card insurance is enough to meet their insurance requirements abroad. Travellers heavily rely on their credit card travel insurance and expect insurance benefits similar to travel insurances. They are hardly aware of the number of things these insurance exclude.
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Through this article let’s try to understand the effectiveness of the credit card travel insurance:
Credit cards travel insurance offer great advantages and mainly cover the following:
Trip Delay: Flight delays are a common occurrence and thus this benefit covers food, accommodation and transportation charges if your trip is delayed by several hours.
Trip Cancellation and Lost Deposits: Sometimes we are forced to change our travel plans due to unexpected occurrences or medical emergencies. This benefit will cover the non-cancellation fee and non-refundable charges if the trip is cancelled.
Medical Emergency Overseas: If you break your hand or catch an infection while you are abroad then this cover will take care of your medical expenses. It will cover your medical bills and your hospitalization cost.
Baggage Loss or Delay: International travels often come with the surprise twist of baggage loss. Your credit card will compensate you for the loss of baggage on trips or damage caused to your luggage.
Travel Accident Insurance: This kind of insurance will compensate you if you have met an accident while travelling. The coverage also ensures to compensate the family members of the beneficiary if the cardholder dies due to the accident or injury.
Legal Coverage: The travel insurance also covers you in a situation where you are held legally responsible for damaging a property belonging to a third party.
See Also: What is Travel Insurance?
Often travellers depend on their credit card insurance for international trips and think its coverage is similar to travel insurance. But there are certain situations where your credit card travel insurance may not prove to be adequate.
See Also: Domestic Travel Insurance
To get the best deal on your credit card travel insurance, compare products offered by other issuers and then decide. Evaluate the benefits, features, inclusions and exclusions before finalizing a product. You also need to go through the fine prints of the insurance offered by credit cards. If your credit card does not cover an emergency like accidental coverage or excludes medical coverage then you can choose a better option.
For queries call the customer helpline and solve your queries regarding the minimum spend threshold, how to activate the cover, inclusions and exclusions etc. familiarize yourself with the product documents and its terms to avoid confusion later. Also, check other factors like annual fee and rewards program to make the correct decision.
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