I have relied on credit card insurance for forty years, but always read the PDS to make sure what is covered and the activation requirement. For example, I always pay the cruise booking deposit with my ANZ platinum card, so am immediately covered if there is a need to cancel for medical reasons. Otherwise I pay for the flights with CC, or prepay hotels.
I always keep the credit card statement for the above payment. Unlike an earlier post, Allianz did want to see the statement showing the qualifying payment. I have needed to claim on credit card insurance four times, the most recent in July 2023 due to a missed flight connection. I was reimbursed for extra hotels and meals, transport, ferries to catch up with the tour group, and for the lost portion of the yacht cruise (letter from TA with breakdown). My whole claim was reimbursed less excess. Claiming was pretty easy and the agent very helpful. There has never been the need to buy another policy as well “just in case”. Credit card insurance is legitimate and does work.