Is my credit card travel insurance enough?
Credit card travel insurance can be a great way to get some basic protection for your trip. But it might not be enough for every trip! Let’s take a look at the pros and cons and what we recommend.
Pros of credit card travel insurance:
It’s free(ish).
Most credit cards that offer travel insurance do so for free (included in your annual fee, at least), as long as you use your card to book your travel.
It can provide basic coverage.
Credit card travel insurance typically covers things like trip cancellation, trip interruption, lost or delayed luggage, and medical emergencies.
It's convenient.
You don't have to search for quotes and reviews or purchase a separate travel insurance policy.
Cons of credit card travel insurance:
Coverage amounts can be limited.
Credit card travel insurance typically has lower coverage limits than standalone travel insurance policies. For example, your credit card may only cover you for up to $5,000 for trip cancellation, while a standalone policy may cover you for up to $100,000.
It may not cover everything you need.
Credit card travel insurance may not cover things like pre-existing medical conditions, evacuation, or adventure activities.
So, is credit card travel insurance enough?
It depends. If you're taking a short trip to a nearby destination and you're not worried about things like medical emergencies or evacuation, then you card’s insurance may be enough.
But if you're taking a longer trip, traveling to a more remote destination, or have adventurous plans, then you may want to consider purchasing a standalone travel insurance policy.
In any event, coverage varies from card to card so make sure you understand exactly what is covered! Read the terms and conditions of your credit card's travel insurance carefully before you rely on it.
We recommend supplementing your card’s insurance with a standalone policy.
Unexpected bumps can sometimes detour even the best-laid plans and we want to make sure you’re covered.
We encourage you to explore your options.
Supplemental insurance is available through many platforms and providers, including directly from the supplier (such as Voyage Protection from Virgin Voyages, for example).
Aggregator sites like travelinsurance.com can be a great tool in comparing plans.
Our friend Faye
Many of our clients use Fora partner Faye Travel Insurance. Faye offers easy, affordable options for trips of all types.
They are highly-rated and headache-free.
Quotes and claims alike are quick and easy. Start your quote here.