Complimentary Travel Insurance with Credit Cards

LGoodEnoughMom on 24/04/2022 - 10:34

Hi everyone,

I am new here and I am hoping Ozbargainers can shed some light regarding Complimentary Travel insurance with Credit Cards.
I haven't hold any credit cards, haven't had/use any travel insurance, so this is a totally new world to me. I have been reading about credit cards in here and would appreciate your suggestions. My main purpose to get a credit card is its travel insurance ( and of course the reward points that I can earn)

I have been reading the fine prints on the big banks' Complimentary policy. However, I am unable to make a decision yet. For now, I am thinking of ANZ Platinum reward card as their activation policy requires $250 minimum spending only, and the card's annual fee is low compared to others.
Anyone has any experience in dealing with the travel insurance? Which bank do you recommend?
Thanks all.

Financial Insurance Travel Insurance

Comments

  • jv on 24/04/2022 - 10:43
    +2

    just get one without any fees

    • GoodEnoughMom on 25/04/2022 - 07:58

      Thanks for your comment. But I have been checking, the free ones do not include travel insurance.

      • jv on 25/04/2022 - 10:20

        Both mine include free insurance if you purchase the tickets with them.

      • Bigboomboom on 26/04/2022 - 10:29

        I got CBA Gold Low Fee card and it's essentially free if you meet $10k spending per annum. Got most of the bell & whistle of a standard credit card like travel insurance, 6 months extended warranty etc.

  • bemybubble on 24/04/2022 - 10:47
    +2

    What I’ve found with complimentary policies is you get what you pay for.

    I used TID and had multiple claims. No issues.

    • boomramada on 24/04/2022 - 11:14
      +3

      I used commbank claim once and no issues either. It's all about what's covered in PDS. If you happy with what's in it, no surprises.

      • GoodEnoughMom on 25/04/2022 - 08:07

        Thanks for your comment. I love commbank too, the travel insurance doesn't require minimum spend! They do not include Covid-19 yet, while other banks do.

  • Ughhh on 24/04/2022 - 11:22
    +3

    It's not the bank that will be dealing with your claims, it'll be another company like Chubb.

    Keep in mind some don't cover domestic flight and car hire, while others do. Compare pds.

    I had no issues with making a claim on my ANZ card, but I think they've changed insurers since.

    • GoodEnoughMom on 25/04/2022 - 08:09

      Thanks Ughhh, I find ANZ annual fee a bit cheaper than others and they do cover quite a lot of things, they will have cover for COVID-19 too in their new policy booklet.

  • payless69 on 24/04/2022 - 12:41
    +1

    Usually have time limits of 3 months.
    We use: St'George for 3mo
    them CBA gold for 3 mo and flip again.
    Latitude card for no exchange fees.
    Why pay for cards and then stress out on crappy rewards?

    • GoodEnoughMom on 25/04/2022 - 08:11

      Thanks for your comment. yes, having more than 1 cards is a good idea. :)

  • Davo1111 on 24/04/2022 - 12:43

    How often are you travelling?

    Imo read the PDS.

    Id predict it's not worth anything

    • GoodEnoughMom on 25/04/2022 - 08:13
      +1

      I wish to travel at least 1 a year internationally, and I thought of travel insurance included in the credit card because I will be travelling with my husband and my son. So paying annual fee to cover for 3 people seems to be cheaper than buying a stand alone insurance.

      • payless69 on 25/04/2022 - 11:15
        +1

        We love chaotic travel. Once we rocket up on a Saturday night with shorts and thongs downtown Aosta with no booking. There was only 1 room in a 4 sar hotel left. Thanks to a highly respected card we got in. (At the time CBA Gold) Nowadays You need platinum.
        Do NOT travel with a Suncorp card to Arab places. They first charge the visa fee onto your card, then stick the receipt into your passport. If you overstay they got you nailed but they also know which banks let them charge exorbetant overstay fees.

        • GoodEnoughMom on 28/04/2022 - 07:17

          yes CBA gold is not available anymore. Thanks for your suggestions :)

  • wolffram on 24/04/2022 - 13:40
    +2

    I've always relied on the complimentary insurance with our CBA Platinum VISA card. I actually claimed a hospital stay while I was in Alaska 4 years ago with absolutely no problems at all. I've just checked though, and it doesnt cover anything to do with COVID at this time.

    • GoodEnoughMom on 25/04/2022 - 08:16
      +1

      Thanks, I also love Commonwealth Bank. They do not require minimum spend. Yes, they do not cover COVID-19 yet, while others like ANZ and AMEX do. I thought their Platinum reward is a Mastercard?

  • Polt on 25/04/2022 - 12:24
    +1

    It really depends on what you want the insurance to cover. I've noticed complimentary insurance seems to be getting progressively degraded by the CC companies. Bankwest platinum removed a bunch of stuff a few years ago and ANZ platinum just updated theirs recently too. I did a bunch of research a couple of years ago (pre-COVID) when planning a trip away. My takeaway was that travel insurance (especially complementary) is typically only any good for health cover/ hospitalisation while away. I was specifically looking for something that would cover my camera & lenses and other valuables, especially since I rented an RV and a lot of the standard travel insurance PDS’s have really crap cover for anything stolen from a vehicle.

    For what it's worth, for my situation I figured out it was actually better to upgrade my home contents insurance to a different insurer which also gives me excellent cover for valuables outside my home (Inc domestic travel) / overseas with a $100 excess using the optional personal valuables cover. Monthly cost of the insurance is ~$40 and is something I'd be paying for anyway in case something happened at/to my home. The insurance while travelling is a nice bonus.

    • GoodEnoughMom on 25/04/2022 - 13:45

      Thanks very much for your comment. My main purpose for travel insurance is emergency hospitalisation. I didn't know that home contents insurance has travel insurance benefit too. I will have a look at that to see if any benefit suits me. :)

  • Franconian on 27/04/2022 - 22:30

    I used to have a free CBA Gold card (free for first year only) and claimed on 2 trips. Underwriter was Allianz and claims process was smooth.

    Cancelled card as was no longer free. Still have a Bankwest Platinum card which is free and includes free travel insurance, but less covered than the CBA one.

    • GoodEnoughMom on 28/04/2022 - 07:18

      Thank you, i haven't checked out Bankwest yet! Will have a look at it. :)

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