Hi, I have a few overseas trips planned for the next half year. Then I bought an annual travel insurance the other day. After reading some posts here, I realized that my citi platinum credit card, which I used to pay for the flights, actually includes a complimentary travel insurance. I took out this card mainly for its fee-free international cash withdrawal, so totally forgot the insurance thing. My question is, if anythings happens, fingers crossed will not, can I claim from both insurance or I only can choose one? Thanks.
Double Travel Insurance?
ryu on 13/06/2014 - 10:09
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Bugger, it knocked me down almost $400 to cover US, Japan etc. One question though, how would they know I have another insurance? Can I just quietly lodge a claim to both, not telling them what's going on?
I seem to recall that years ago I heard while investigating a flight incident, they found one passenger took out 16 insurances for that flight, the fire started from where he sat, then they suspected that passenger might be a terminal or something, he burned that flight intentionally to get money for his family.
Things changed, or different countries have different polices?
The travel insurance that comes free with your credit card is sometimes very limited in what they would pay out and also may include an excess for each claim.
I know my mother's travel insurance gives her monetary compensation for inconvenience if her flights were delayed for more than 6 hours. The last time that happened, she got food and drinks vouchers from the airline and insurance money. She was quite happy about that.
I would say you may now have extra cover with the travel insurance you paid for, but how much would depend on your cover. I hope that makes you feel better about your situation. :)
Thank you very much, it's good enough to know the free one is very limited, I'll just forget the free one and live happily with the annual one, pretending the free one is just a stunt to draw you in.
Compare the two, and if the one you purchased offers nothing of use to you that your credit card doesn't already have, it would be worthwhile looking into whether the purchased one has a cooling-off period. They often do.
However, as already mentioned, the credit card ones are often very limited ….. look into it closely before even thinking of cancelling the one you bought.
It does have a cooling-off period of two weeks. I am not that upset about paying for a extra insurance actually. Just curious how it works. Good to know the free one is very limited, kindof a better-than-nothing thing. Thank you all for the replies.
I seem to recall that my Card Insurance policy explicitly states that it is only liable for anything that your other Travel Insurance doesn't cover..
Ie lose your $1600 worth of luggage but your paid insurance only covers $1000, the card insurance that covers up to $2000 will cover any further expense (in this example $600)Both of my insurances have accesses. Do I still need to pay access to get the difference from another another insurance, or I just go with the one better to my advantage, and let them balance with each other?
EDIT: It's not important, just one question being answered leads to another. Don't worry mate, and thanks a lot.
I've made a claim from Travel Insurance Direct once, there were some very specific questions on the claim form under the heading 'Travel Arrangement': Did you use a credit card to purchase your travel? Name on credit card, financial institution, card type and card level (Gold or Platinum). So I guess there is a chance they would cross check with your credit card company. And not answering the question truthfully would be fraud.
OK, I got it.
Without this in mind, while in need to fill this forms, I would be asking questions such as why do I have to give you this information, this insurance has nothing to do with my credit card details, etc.
again look at your policy, but these guy's will have covered that. There are often conditions saying you must answer questions that they ask otherwise they can void your claim.
So if you think you can outsmart them you have issues. Plus if you dont give the info, they refuse your claim. So then what? You take them to arbitration/court, and you have to answer the questions and your chances of winning then are pretty small.
These aren't kiddies or dumbshucks they have learnt like we all do from the scams of the past, so good luck, as you will need it.
BTW you have 14 days to cancel your bought insurance. If its within that time frame do it, if you think the credit card cover is satisfactory.
It's already past the cooling off time frame. That's fine though, I was just curious, not very upset about the waste. I am a guy who is very good at making up excuses to get over money issues. I would be happy enough to get my loss back if anything happens in the trip, I would be happier if I don't have a chance to claim anything at all for the next year, you buy insurance to cover loss not to make money, I got it. Many thanks.
I got it
Hey thats why we all share here, even if sometimes that sharing can be a little pointed!
Actually if you carefully read things you might find that when going to the US like you are that your own policy might cover you much better than the credit card insurance. Plus you arent stuck to using the credit card for some of your purchases, which might give you benefits on exchange rates etc (28 degrees mastercard)
If you are renting a car in the US read the Wiki here at Ozbargain (travel) and other posts (search) here on US car rental insurance. Travellers insurance doesnt cover many of the risks you may incur
This will most likely be covered in the terms and conditions. You can claim on either or both. But, you will only be paid once, if approved by both insurance policies. The insurance companies will share the burden of the payout between them. ie. one may pay you in full, but then claim against the other insurance policy for half of the payout.
You've effectively spent money to half the risk to citibank's insurance provider.