Credit Card Insurance What's Not Covered Scenario (Gotcha's) - Help me build a list

yjun355 on 10/03/2015 - 13:27
Last edited 10/03/2015 - 13:32

I got citibank credit card. Recently lost the phone. Initially thought lucky to find Credit Card covered for 3 months of loss, stolen or damaged.

I simply lost the phone where i left at bench while rearranging my bag contents. Obviously gone in 20 minutes.

Making claim realised its not covered if you leave in public place. So, I am puzzled on scenarios that you can say is a Loss (Not stolen) which is not in public place.

Either way, looking through PDS found following items that you wouldn't expect not covered. Sort of highlighting the gotcha's which give you false sense of insurance.

Credit Card Loss, Theft and Damaged Gotcha's

a. Leaving in Car not covered:
"Jewellery, watches, cameras, mobile phones, portable electrical items, laptop computers or cash or equivalent unattended at any time or left in a motor vehicle (even if in the boot) or
baggage;"

b. Sporting equipment whilst in use not covered (so can't claim if you damage your GoPro while using it?)
"sporting equipment whilst in use;"

c. Items that are brittle or fragile
"items that are brittle or fragile unless the loss or damage is caused by thieves or fire or an accident involving the means of transport in which you are travelling (however photographic or video equipment, spectacles, contact lenses, binoculars and laptop computers are not considered brittle or fragile items);"

d. Their discretion:
"disappearance of any items in circumstances that cannot be explained to our reasonable satisfaction;"

Medical/Travel Insurance:
a. Only 26 weeks not covered (unless I am not reading it correctly)
"pregnancy or childbirth except where an unexpected and unforeseen medical complication has arisen in respect of your pregnancy up to the end of the 26th week of your pregnancy. The 26th week of your
17 pregnancy is calculated based on your estimated date of delivery as confirmed in writing by your obstetrician;"
…

Financial Credit Card

Comments

  • Paul Atreides on 10/03/2015 - 14:02

    a) yeah, i find this common among insurance policies
    b) i'd argue that a gopro is a camera as it is not crucial to the activity. things like a snowboard/skis/bicycle i would assume is among this (risk you damage your equipment is the acceptable danger of the sport)
    c) acceptable to me
    d) acceptable to me

    no idea about the pregnancy stuff. but as i read it, its so your travel insurance is not covering your pregnancy stuff. you should have medicare or priv HC for that.

    • Settero on 10/03/2015 - 14:16

      go pros do seem to be put at high risk for damage…

  • Hellfire on 10/03/2015 - 14:19

    Those gotcha's aren't unique to credit card insurance.

    • yjun355 on 10/03/2015 - 15:40

      yep. I expect that. However, I wanted to mention correct source of notes in order to make sure I am not providing incorrect information.

  • bobbified on 10/03/2015 - 15:50

    Some insurance policies will cover you for everything, except where the claim arises as a result of anything other than the world swallowing itself.

    It always pays to read the PDS properly and understand all the terms and conditions at the time the insurance is purchased rather than at the time a claim is made.

    I simply lost the phone where i left at bench while rearranging my bag contents.

    Perhaps your memory was a little fuzzy at the time… maybe you should think harder about how you reeeeally came to be separated from your phone….. ^_^

    • yjun355 on 11/03/2015 - 12:13

      Thanks. Actually, it is coming back. Are point is I can't 100% say I left on bench. Thats the whole point. It could be I left at bench or could be someone knicked it from bag. That's why it is lost. I'll see if that works. Otherwise, I know better for next time :)

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