Choosing Between Credit Card Insurance and a Travel Protection Plan

Credit Card Insurance vs Travel Insurance

Every credit card company offers different benefits. However with travel protection, there is simplicity to what coverages are available.

If you’re considering not purchasing a travel protection plan, opting instead for the travel protection on your credit card – or homeowners, auto, or health insurance – it would be wise to contact each company, read the fine print and plan ahead in case of emergency. Many credit card companies only cover expenses purchased with their card, and the coverage could be lower than coverage available from a respected travel insurance company. Even traditional insurance companies may stop or limit coverage once you leave the United States.

When choosing between credit card insurance and travel protection from a reputable travel insurance company, it is helpful to seek answers to the following questions:

  1. What is the maximum trip cost limit? Is it enough for my trip?
  2. Is emergency medical/dental and evacuation covered with no deductible?
  3. Is the amount of emergency medical/dental and evacuation coverage enough for my trip?
  4. Is trip cancellation and interruption included? What are the covered reasons to cancel or interrupt my trip?
  5. Does my credit card insurance extend to my traveling companions? For instance, can children be included at no additional cost when traveling with an insured adult?
  6. If I become injured or ill while traveling, can I be transported to the nearest hospital of my choice?
  7. Are pre-existing medical conditions covered?
  8. If my trip is delayed, can extra expenses like hotel stays, meals and taxi fares be reimbursed?
  9. If my luggage is lost or stolen, can I be reimbursed?
  10. What if my luggage doesn’t arrive when I do? Can I be reimbursed for essential personal items to help me enjoy my trip?

After answering these questions, you will be better able to decide which protection is right for you. You may use Travelex Insurance Services to get a free quote or contact our Customer Solutions Center at 1-800-228-9792 if you have any additional questions.