Jane Dotson
When it comes to travel, having the right insurance is essential for peace of mind. While comprehensive travel insurance is always recommended, some credit cards offer basic emergency medical coverage as a benefit, which can include evacuation, dental, and accidental death or dismemberment cover. This can be a great option for those who travel infrequently or are looking for a short-term solution. However, it's important to note that credit card travel insurance typically has lower coverage limits than standalone policies, and may not be sufficient for high-risk activities or destinations. Notable cards with travel medical insurance include the Chase Sapphire Reserve, Visa credit cards, and American Express cards.
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What You'll Learn
Chase Sapphire Reserve
The Chase Sapphire Reserve card offers a wide range of travel insurance benefits. The card provides up to $1 million in coverage for travel accidents when you pay for your trip with the card. This includes coverage for loss of life, limb, sight, speech, or hearing.
The Chase Sapphire Reserve card also offers emergency medical and dental coverage of up to $2,500 with a $50 deductible. This can cover ambulance services, anesthetics, x-ray examinations, laboratory tests, medicine, drugs, hospital stays, and the services of legally qualified medical professionals. Cardholders can also receive $75 per day for a hotel for up to five days if a physician deems it necessary for them to stay and recover.
In addition, the Chase Sapphire Reserve card offers trip cancellation and interruption insurance, lost baggage reimbursement, and rental car insurance. Cardholders can be reimbursed up to $10,000 per covered traveller and $20,000 per trip for prepaid, non-refundable travel expenses if their trip is cancelled or cut short due to sickness, severe weather, or other covered situations. The rental car insurance provides primary coverage of up to $75,000 for theft and collision damage for most rental vehicles in the US and abroad.
The card also offers a travel and emergency assistance benefit, which includes an emergency assistance phone line available to cardholders at all times during their travels. Cardholders can call this toll-free number to receive assistance with medical referrals, legal referrals, emergency transportation assistance, emergency ticket replacement, help locating lost luggage, and more.
The Chase Sapphire Reserve card also provides roadside assistance for cardholders driving in the US or Canada, offering up to $50 per event on covered roadside services, up to four times per year.
With its comprehensive travel insurance benefits, the Chase Sapphire Reserve card can provide peace of mind and security for cardholders when travelling.
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Visa credit cards
Visa offers travel insurance for eligible cardholders, which includes medical insurance. Visa Platinum, Visa Signature, Visa Infinite, Visa Platinum Business and Visa Signature Business premium cardholders will be automatically insured when travelling. This insurance covers eligible Visa credit card users for damage or theft of rental cars, accidents while travelling, trip cancellation, and lost luggage.
It is important to note that the majority of credit cards do not provide travel insurance coverage, and for those that do, the coverage is often limited. Therefore, it is recommended to purchase a standalone travel insurance plan. Visa cardholders should refer to the Guide to Benefits provided after account opening to understand the specific coverage offered by their card.
Some specific Visa cards that offer travel insurance include the U.S. Bank Altitude Reserve Visa Infinite Card and the Chase Sapphire Preferred Card. The former offers protections for trip delays, cancellations, interruptions, baggage delays, and lost luggage, while the latter offers trip delay reimbursement, baggage delay insurance, and lost luggage reimbursement.
It is worth noting that travel insurance through a credit card typically only covers items charged to the card and related expenses. Additionally, medical expenses incurred after returning to the country of permanent residence are generally not covered by Visa's travel insurance.
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American Express cards
American Express offers a range of travel insurance options for its cardholders, including complimentary domestic and international travel insurance. The specific coverage provided by American Express cards varies depending on the type of card and the plan selected. Some common features of American Express travel insurance include:
- Emergency medical coverage: Offers up to a maximum of $5,000,000 CAD per insured person, per trip, for eligible reasonable and customary costs incurred during a medical emergency. This includes hospital, surgical, and medical treatments, as well as emergency dental expenses.
- Trip cancellation and interruption insurance: Provides coverage if you need to cancel or interrupt your trip due to covered reasons.
- Baggage insurance: Protects against physical loss, theft, or damage to baggage and personal effects.
- Trip delay insurance: Offers reimbursement for necessary expenses incurred due to trip delays, with the amount depending on the card type and the duration of the delay.
- Car rental loss and damage insurance: Covers loss and damage to rental cars.
It is important to note that the coverage provided by American Express cards may have certain limitations, such as maximum age limits, pre-existing medical conditions, and coverage limits. Cardholders should carefully review the terms and conditions of their specific American Express card to understand the extent of their travel insurance coverage and any exclusions that may apply. Additionally, American Express also offers standalone travel insurance policies that can be purchased separately, providing more comprehensive coverage for travellers with specific needs or concerns.
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Bank of America Premium Rewards Elite credit card
The Bank of America Premium Rewards Elite credit card provides a range of benefits for travellers, including comprehensive travel medical insurance. Here's what you need to know about the card's travel medical insurance coverage:
Emergency Medical Coverage:
The Premium Rewards Elite card offers emergency medical coverage during your trips. This includes coverage for emergency medical treatment, evacuation, and transportation. In the unfortunate event that you require emergency medical attention while travelling, the card's insurance will provide reimbursement for eligible expenses. This can include ambulance services, medical procedures, and hospital stays.
Travel Accident Insurance:
The card also includes travel accident insurance, which provides coverage in the event of accidental death or dismemberment. This type of insurance typically covers loss of life, limb, sight, speech, or hearing. It gives cardholders peace of mind knowing that they or their beneficiaries will be financially protected in the event of a tragic accident while travelling.
Eligibility and Requirements:
To be eligible for the travel medical insurance benefits, cardholders must use their Premium Rewards Elite card to pay for their travel expenses. This includes purchasing flights, hotels, or any other travel-related costs. It's important to note that there may be additional requirements or restrictions, so be sure to review the card's terms and conditions carefully.
Coverage Limits:
The coverage limits for the travel medical insurance provided by the Premium Rewards Elite card can vary. While the specific details are not publicly available, it is important to understand that credit card travel insurance typically has lower claims limits compared to standalone travel insurance policies. Therefore, it is recommended to review the coverage limits offered by the card and consider supplementary insurance if extended coverage is desired.
Additional Travel Benefits:
In addition to medical insurance, the Premium Rewards Elite card likely offers other travel benefits such as lost luggage reimbursement, trip cancellation coverage, rental car insurance, and more. These benefits can provide added value and protection during your travels, giving you peace of mind when facing unexpected travel incidents.
The Bank of America Premium Rewards Elite credit card is designed to offer convenience and security to travellers by providing travel medical insurance and other travel-related perks. By understanding the coverage provided and any limitations, cardholders can confidently utilise the benefits of this card during their journeys.
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US Bank Altitude Reserve
The US Bank Altitude Reserve Visa Infinite Card is a premium general travel card with a range of perks and benefits for travellers. As of November 2024, the card is no longer accepting new applications, but existing holders can continue using it. The card has an annual fee of $400, which can be offset with a $325 statement credit for dining and travel expenditures. This credit is applied automatically to restaurant purchases and travel bookings with airlines, hotels, car rental companies, taxis, limousines, passenger trains and cruise line companies.
The US Bank Altitude Reserve Visa Infinite Card also offers a 12-month Priority Pass Select membership to over 1,200 airport lounges worldwide, and a TSA Precheck or Global Entry statement credit to reimburse the application fee up to $100 every four years. The card has no foreign transaction fees.
In terms of travel insurance, the US Bank Altitude Reserve Visa Infinite Card provides worldwide coverage for eligible cardholders and dependents under 22 years old, when purchases or trips are booked using the card. The coverage includes emergency medical and dental policies, as well as common carrier and travel accident insurance. However, it is important to note that exclusions exist, such as high-risk sports, professional sports, and any other exclusions specified in the policy terms.
While the US Bank Altitude Reserve Visa Infinite Card offers comprehensive travel insurance, it is worth noting that it does not have travel partners, meaning points cannot be transferred to airline or hotel loyalty programs. This may be a significant drawback for frequent travellers who are accustomed to maximising the value of their credit card points.
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Frequently asked questions
The Chase Sapphire Reserve card offers travel medical insurance, including emergency medical and dental coverage, as well as travel accident insurance. The Chase Sapphire Preferred card offers travel insurance, but it does not cover medical expenses. The Visa credit card also offers travel insurance, which covers rental cars, accidents, trip cancellations, and lost luggage.
Travel medical insurance typically covers emergency medical and dental expenses, as well as emergency transportation and evacuation costs. It may also cover ambulance services, x-ray examinations, treatments, and hospital stays.
Credit card travel insurance is typically limited or non-existent. It is important to carefully review the terms and conditions of your credit card to understand the specific coverage provided. Most credit card companies only offer secondary insurance, which supplements more comprehensive coverage.
