Credit Card Travel Insurance, Visa or MasterCard

Jason Black on 01/08/2024 - 20:08
Last edited 01/08/2024 - 20:50 by 1 other user

Anyone know if there's a practical difference between complementary travel insurance from Visa vs MasterCard.

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  Stewardo on 01/08/2024 - 20:29

  +1

  All insurance is identical, don’t do any research. Make insurance coverage decisions based off randoms on the internet.

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  sumyungguy on 01/08/2024 - 20:36

  Are you asking because you already have cover or you want to select a card with complimentary insurance?

  • 

    Jason Black on 01/08/2024 - 20:36

    +1

    I'm looking for a new card

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      sumyungguy on 01/08/2024 - 20:39

      Every card issuer seems to use a different underwriter and the schedules of benefits and exclusions are all different. Compare the events you're likely to claim and make a selection accordingly. If you want to save money, purchase international medical-only.

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  Pikaloo on 01/08/2024 - 20:37

  +3

  Based on the card issuer, and card type it will determine what policy you have. It's not as simple as Visa vs Mastercard.

  • 

    Jason Black on 01/08/2024 - 20:47

    Thanks

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  Dauphin on 02/08/2024 - 05:50

  +1

  Check the policy statement. You’ll find it on the banks website. As others have said and In my experience it’s not Visa vs Mastercard but the underwriter for the specific bank sets the policy details.

  Some things to check.

  Based underwriter for the insurance, you can see if they are a big name or small name insurer. Go with the big names, more likely to not refuse you. Most insurers these days have a process where they’ll avoid payout when you make an initial claim.

  The limits, exclusions, pre-requisites are really important. Specifically if you have pre-existing conditions

  Finally, check how much you have to spend (flights, accomodation, etc) (per person) in advance of the travel in order to qualify. This amount has gone up over time, in my experience. When I last used my complimentary travel insurance it was about $400 / traveller that you had to spend on the card in advance.

  Of course YMMV!

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  Edinburgh on 02/08/2024 - 07:50

  +1

  It doesn't depend on the visa or mastercard but it depends on the bank. Read the card insurance pds and choose based on your risk items and coverage. Also most important check the insurance provider. There are certain insurance provider which are very hard to deal like covermore. While Allianz, Chubb, and AIA are good.

  Best in the terms of support is Chubb.