Three Credit Cards with Great Travel Insurance Benefits

Keep these cards in your wallet if you're a frequent flyer

Airport lounge
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Numerous digital publications will tout the advantages of travel credit cards for the valuable points they offer with everyday spending. Although these cards offer healthy rewards, some offer a lot more than a quick upgrade or free airline ticket. In fact, many high-end travel credit cards come with travel insurance plans that rival even the best third-party insurance policies.

Unbeknownst to many, some credit cards come with a high level of travel insurance protection that may come into effect when luggage is lost or stolen, flights are delayed, or emergencies and natural disasters break out around the world.

Those who travel around the world often may already have one of these cards in their wallet. If so, be sure to check out the coverage offered by these best-in-class cards before purchasing a travel insurance policy.

Chase Sapphire Preferred

Many savvy travelers carry the Chase Sapphire Preferred card because of the flexible points that travelers accrue through everyday spending. More importantly, the Chase Sapphire Preferred travel insurance also offers the top benefits as well. Travelers who carry and pay for their trip with the Chase Sapphire Preferred can unlock a number of travel insurance benefits as they see the world.

To begin, the Chase Sapphire Preferred travel insurance offers coverage for trip cancellation, trip interruption, and trip delay comparable to many basic travel insurance policies available in the marketplace. Travelers are guaranteed trip cancellation benefits up to $10,000, alongside a trip delay benefit of up to $500 per ticket.

The Chase Sapphire Preferred travel insurance also offers coverage for lost baggage, up to $3,000 in the event that your luggage is either lost or stolen.

Many credit cards require travelers to pay for their entire itinerary on the card in order to receive the benefits of the travel insurance policy.

On the Chase Sapphire Preferred travel insurance, travelers are only required to pay for a portion of their trip on the credit card to receive benefits. This alone makes the Chase Sapphire Preferred one of the strongest cards for travel insurance. 

Citi Prestige MasterCard

Often compared to the American Express Platinum Card, the Citi Prestige MasterCard comes with a lot of high-end benefits for the luxury traveler. In addition to earning valuable points that can be used to book travel, the Citi Prestige MasterCard also comes with golf benefits at private courses and access to American Airlines Admirals Club lounges. 

While this bespoke card comes with multiple layers of luxury, one of the most under-spoken of them is the level of travel insurance available. Travelers who see the world with the Citi Prestige MasterCard have access to a 24-hour emergency assistance line, connecting them with knowledgeable operators who can connect them to the services they need. With one phone call, travelers can get referrals to local hospitals, receive pre-clearance for treatment, or arrange emergency evacuation travel home due to trip interruption or other events. In addition, travelers can also access a $3,000 lost luggage benefit, in case their luggage doesn't show up with them.

 

Although the card comes with a high price every year, making just one travel insurance claim can pay for those situations. Therefore, the Citi Prestige MasterCard is one every frequent international traveler should consider prior to departure. 

US Bank FlexPerks Travel Rewards

Although many do not consider US Bank to be a major credit card issuing bank, this 160-year-old institution is a major player in their own right. As of September 2015, this US Bank ranks as the fifth largest bank in the United States, with over $416 billion in assets. While those numbers are impressive, equally impressive are the benefits offered on their US Bank FlexPerks Travel Rewards credit card. 

Much like other cards in the travel category, the US Bank FlexPerks Travel Rewards card offers coverage for medical issues while abroad, trip cancellation, trip delay, and trip interruption.

However, the card also offers peace of mind for those concerned about accidents abroad. Those who pay for their trip with the card qualify for $1 million of travel accident coverage, in addition to coverage for rental cars and emergency assistance. In addition, the card also comes with $2,500 in personal identity theft insurance - in the event that a credit card number is stolen while traveling.

Although it may not be as visible as other travel cards, the US Bank FlexPerks Travel Rewards card comes with a full suite of benefits of its own. Travelers who want both flexible points and a high level of care should consider adding this card to their wallet.

Some Caveats about Credit Cards and Travel Insurance

As it has been written about earlier, travel insurance provided by credit cards isn't always the best deal for your traveling dollar. Some credit card travel insurance policies are secondary, instead of primary. Should travelers need to draw from this policy, they will only be able to do so as a supplement to their existing insurance policies. Additionally, many cards require you to make your entire purchase on the credit card. Those who don't make the entire purchase on the card could find their claims for benefits denied in a hurry.

Credit cards aren't just all about points - they can also provide valuable benefits when it comes time to travel. By carrying one of these cards, travelers are helping themselves not just to earning free travel, but also protecting themselves in the worst case scenario.

Ed. Note: No compensation nor incentive was given to mention or link to any product or service in this article, nor will the author receive any compensation for any links in this article. The editorial content on this page is not provided by any bank, credit card issuer, airline or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone and may not reflect those of the entities named in this article.