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'FREE' travel / accident insurance from credit cards...

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Rick93

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I've got a platinum Citibank Visa credit card.
It carries a certain level of 'insurance' benefits.
Do the 'well experienced travellers' out there consider this type of 'free' insurance worth relying upon?
Would others rather 'pay' for a travel insurance policy?
On another section of this BB, I note people claiming how they value FF points /miles.
I (currently) think of the added value of using my CB Plat card for airfares.... even a weekly or monthly rail ticket (remember Waterfall - Sydney's most recent train disaster)..... even getting your taxi driver to 'pre - pay' your fare with a credit card that has this type of added insurance can make a real difference if you 'don't quite make it' to your destination.

Any thoughts / comments ???
 

drron

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I also have citibank platinum visa but I wouldnt rely just on that.I also have an annual travel insurance policy.The credit card insurance can be useful in certain situations such as rental cars.In the US I usually rent out of chicago or new york and always grudgingly paid collision damage waiver insurance until one day someone ran into our rental car and I had the good fortune to meet a woman police lieutenant in new york who told me for cars rented in new york ,state law limits the renters payout to $100.
Checking I found out that Illinois law limits your payout to$3000.The credit card excess for rental cars therefore virtually covers any cost I would have so I no longer pay the exorbitant rental firms insurance charges.
Unfortunately you really have to go searching through the small print to see what it really is worth.
 

QF WP

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I'm the same as drron, I also have an annual travel policy (which also covers my spouse). I wouldn't rely on the CC Travel Insurance to pay (then again, I've never had to claim against the CC insurer, but I have used my travel insurance policy twice in 15 years).
 

michaelblain

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If you are considering relying on a CC policy check the definitions and the coverage. "Trip" is usually quite interesting - I doubt it covers a taxi fare in your home town. Also make sure you read any flyers that are mailed with your statement - they may make changes to the coverage at anytime and if you just throw the accompanying brochures you may miss the policy changes.
 

dajop

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A little tale from last year.... I was in US last year on work, and my partner joined me after I finished the business side of things, for a holiday. Half way during the trip, my partners grandmother died, and an immediate return to Australia was required. The super duper corporate travel insurance we have (which does cover accompanying spouses & partners), did not cover this, as the person who died was over 80. Luckily though my partners trips was paid for on my Westpac Gold Card, and was covered by the associated travel insurance (although I wasn't as I was relying on the corp travel insurance). So in this instance, the credit card scheme was better. One thing, I always make sure I read the fine print.
 

Schebesta

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@dajop - that is an amazing story. I love it when things you didnt realise you had come into complete play.

@michaelblain - That is a great tip re the brochures that come out. I find they rarely bold the important parts that are key to effecting your policy or account.

Which credit card would you say has the best travel insurance?
 

jamesatfish

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I purchase my overseas flights on a CBA Plat card and make use of the travel insurance cover included with that card.

I've only had to make a claim once - typical June weather at JFK resulted in an 8 hour delay into London, a missed flight for a ~20 hour visit to Dublin and baggage that didn't arrive in London for 3 days (turning up about 8 hours before we flew out).

The travel insurance associated with the CBA card covered the costs of our missed flights to Dublin, the missed hotel night and incidental expenses (probably no more than 150GBP) for clothes and other items needed due to the lost baggage. Pretty painless process - started the claim over the phone, filled in a form and mailed back with copies of receipts, airline delay confirmation etc. Payment less the excess of around $300 was in our bank account within a few days from sending the forms back.
 

straitman

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Which credit card would you say has the best travel insurance?
Schebesta,

Remember this is a very old thread and the info in the first few posts is probably now well and truely time expired.

To answer your question though.

The Amex Platinum Charge Card and the Centurion Card probably offer the best all round travel insurance. The added advantage of these is that you do not have to purchase your ticket with said card for the insurance to be valid. As you can understand this can be very useful on occasions.
 
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