(Free) Travel Insurance with Credit Cards

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  mskeggs on 10/12/2013 - 17:56

  +3

  You need to book your airfare on the (preferably platinum) card with the best insurance policy.
  I would read the T&Cs of each, but look out for minimum excess payments (e.g. if it is $250 it isn't worth it to claim a delayed flight) and process to make a claim for any loss/theft - most require a local police report.
  Personally, all other things being equal, I would tend to use the bank Amex, as it gives you three targets to shame if you have a problem with a claim, the policy issuer, the bank and Amex.

  • 

    RandomNinja on 10/12/2013 - 18:08

    +1

    gives you three targets to shame if you have a problem with a claim, the policy issuer, the bank and Amex.

    Haha, there's a bonus insurance policy right there!

    With CC travel insurance, it's only good for major claims due to the high excess payments. If you expect you'll need to claim, then you may be better off with a discreet policy with no/minimal excess. For example, I chose a discreet policy when I went on my first cruise as it was likely I'd need a sea-sickness jab.

    • 

      Pumpkin_rrr on 11/12/2013 - 09:30

      Hey Ninja, can you tell me how much was the premium for your cruise?

      • 

        RandomNinja on 11/12/2013 - 14:51

        Was over 5 years ago, can't remember sorry! I do recall that the premium ended up being less than what I claimed back, so it was worth it.

  • 

    Pumpkin_rrr on 11/12/2013 - 09:29

    Good advise Ms Keggs. Thanx.

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  Riczter on 10/12/2013 - 22:08

  -1

  A friend of mine in the airline industry said most CC travel insurance policies are rubbish, and said he's heard of cases where the card issuer has specifically said that a think will be covered, but when they go to claim, the insurance company that actually underwrites it doesn't accept the claim and doesn't care what the card issuer said. He said there are many many complaints with the ACCC or whatever ombudsman over CC travel insurance policies.

  General info only got nothing specific sorry.

  • 

    Riczter on 11/12/2013 - 00:06

    thing*

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  Hellfire on 11/12/2013 - 09:49

  +2

  Things to watch for CC travel insurance:

  • Qualifying. Make sure you read the requirements for coverage and you abide by them. Eg flights booked on card, $x pre booked travel on card, etc.

  • High excess. Usually $200+ and no option to reduce.

  • No cover for pre-existing conditions. Some conditions will result in no cover at all while some just relate to incidents linked to that condition.

  • Age limits. Usually 65 or 70. Check the policy.

  • Time limits. Often a max of 3 months travel but does vary.

  • What is covered and the item limits. These tend to be pretty similar to standard travel insurance policies and should be reviewed to make sure it is suitable for your circumstances.

  • 

    Pumpkin_rrr on 12/12/2013 - 08:46

    Thanx Fire. Good summary. I forgot about the age limit.

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  rmamila on 30/12/2013 - 03:13

  I have CBA issued Master and Amex Platinum cards. Amex has travel insurance but when I specifically asked about travel insurance, I was told by the bank that I get the cover with insurance only when the amount for individual air ticket booked from the card exceeds $1000 per person. This means I only get the travel insurance when booked for a significant distance of overseas trip. Otherwise air tickets will not cost over $1000 per person.
  Hope this will help. Call your bank and specifically ask about this to get more details relavant to your bank card.