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Research: Travel insurance limitations of credit cards - Credit-Land.com

Traveling with credit cards prove useful from time to time because of various value-add services that credit cards offer. Among these, a lot of credit card customers value the travel insurance more than anything else. However, travel insurance shouldn't be the sole reason why you are accepting a credit card offer. This is because travel insurance is not always necessarily what you think it is. Credit card customers might have to take a look at the fine print to ensure they know the terms and regulations of the travel insurance.

Limited by region

You may be covered for unforeseen events during travel. However, this coverage might not be available for any kind of travel. Often travel insurance might provide coverage only for domestic flights, for example, or even worse, flights within a specific region. You will have to check the fine print of the credit card policy once again for elaboration.

Exclusions

There are certain specific exclusions that are listed on the fine print that you have to be aware of. Certain holiday seasons, flights or days might be excluded when it comes to offering the travelers travel coverage as they expect. If you are really looking forward to utilizing the travel insurance you will have to be aware of these exclusions.

Caps

It is hard to imagine the credit card issuer providing travel insurance for you on every flight or trip you take. Travel insurance like every other credit card comes with caps or limitations on how many times you can really avail it. It could be a monthly limitation on the number of flights or a fixed number of flights a year for which you can get the travel insurance. Again it may or may not be in your control to choose the trips where you want to apply the travel insurance. Lastly there will be a definite cap on how much you can actually claim with the travel insurance as part of your coverage. The process of filing a claim also needs to be looked at as it could be tedious.

Travel insurance versus travel accident insurance

These could mean different terms, and often the former could be something small compared to what you might come to expect in terms of coverage. Sometimes it could just be a trip cancellation insurance wherein you will be provided coverage for the losses incurred if you missed an important flight.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.