Travel Insurance Vs Credit Card – Is It Worth It To Add Travel Insurance?

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Nowadays, you see a lot of people that want to sell you a travel insurance policy. Most airline and online traveling booking platforms offer travel coverage as part of their benefits when you reserve your trip. Likewise, a lot of credit card travel insurance also offers you travel insurance coverage as part of the benefits. However, when traveling is important you need travel insurance which will help to cover your expenses while on vacation. There you can travel insurance vs credit card travel coverage for debate.

Travel Insurance Vs Credit Card - Is It Worth It To Add Travel Insurance?

One of the tips when traveling is that you need to ensure that you have the right financial protection. You don’t want to spend anyhow during your vacation, hence you need to have a strategic mind in planning your trip. However, you can go for separate travel insurance for financial protection or look for a good credit card that offers insurance travel and these are mostly found in premium credit cards.

Travel insurance vs credit card travel insurance provides you with protection in different scenarios. A premium credit card is suitable for travelers that travel on a regular and it comes with a suite of travel insurance protections that got you covered with everything you need to enjoy your trip. But is it worth buying travel coverage from a credit card than buying from a travel insurance policy?

Here is a quick view of the differences between travel insurance vs credit cards.

Differences between Travel Insurance Vs Credit Card Benefits

Trip Cancellation Insurance

Trip cancellation insurance simply means that you will be refunded 100% for any pre-paid or non-refundable expense if you cancel your trip for a particular reason.

Credit Cards

Trip cancellation insurance is also one of the benefits of credit cards if you book your travel on a common carrier with the credit card. For some credit cards, your entire trip expenses must be paid with the card to be eligible for trip cancellation insurance.

Travel Insurance

A travel insurance policy includes trip cancellation insurance that 100% refund your money back to you if you cancel you trip including non-refundable deposits. This does not need to you pay all your trip expenses with a particular card or platform to be eligible.

Trip Delay Reimbursement

Credit Cards

Credit cards that come with trip delay insurance can pay for coverage if your travel is delayed due to some certain issue. The credit card can reimburse you for certain expenses such as overnight hotel accommodation and others.

Travel Insurance

The travel insurance policy also includes trip delay reimbursement but only for a minimum delay time before the coverage can kick-off. However, you can look for travel insurance companies that offer low-time requirements.

Travel Medical Insurance

Credit Cards

Credit card travel insurance does not include travel medical insurance. Meaning no travel medical insurance is offered to members.

Travel Insurance

Travel medical insurance is practically essential in a comprehensive travel insurance plan. In case you accidentally got injured or fall sick while traveling, your medical insurance got you cover to pay your medical bills and medication.

Lost, Damaged, and Delayed Baggage

Credit Cards

if you lost your baggage or are damaged or delayed, with a credit card, you get might get covered on the expenses if only you use the credit card to pay for the items.

Travel insurance

However, this is quite similar to credit card coverage but far off better whereby they offers you coverage on your belongings even when they are not in transit.

Which Credit Card Has the Best Travel Benefits

Here is the following list of credit cards that has the best travel benefits to offer you financial protection while traveling:

  • Capital One Venture X Rewards Credit Card
  • Chase Sapphire Preferred® Card
  • United Club℠ Infinite Card
  • Hilton Honors Aspire Card from American Express
  • Chase Sapphire Reserve®
  • The World of Hyatt Credit Card
  • The Platinum Card® from American Express
  • Bank of America® Travel Rewards credit card
  • Citi Premier® Card
  • Bilt World Elite Mastercard®
  • JetBlue Plus Card

There are many others best-traveling credit card that offers you a travel insurance policy.

Best Travel Insurance Companies

  • AXA Assistance USA
  • Cat 70
  • GoReady (formerly April)
  • Allianz Travel Insurance
  • Travelex Insurance Services
  • World Nomads Travel Insurance
  • AIG Travel
  • Seven Corners
  • HTH Travel Insurance
  • Generali Global Assistance
  • IMG Travel Insurance
  • Nationwide Insurance.

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