Traveling can be a ton of fun, but on every trip there’s potential for things to go wrong. The chances of mishap are increased for frequent travelers. Show
Fortunately, many of the best travel credit cards not only earn you rewards points that could be redeemed for things like nearly free airfare, but they also offer travel insurance that provides protection when issues arise. Check out our list of some of the best credit cards for travel insurance below to learn more about the various offers available from a number of credit card issuers. We chose these cards based on their insurance covered, but also to show the variety of credit card offers available that earn different rewards and provide a variety of perks. Best credit cards with travel insuranceThere are many different travel credit cards that come with various types of insurance. These cards could be powerful in earning you Membership Rewards, Chase Ultimate Rewards points, or other travel rewards, but they can also give you some peace of mind. The table below shows some of the protections offered by popular credit cards:
What does travel insurance cover?The specific protections you’ll get vary by card, but some of the most common types of insurance credit cards provide include:
The travel insurance coverage your card provides can be quite valuable. If you were to buy your own travel insurance plan, you could pay an average of $105 for basic coverage up to $164 for a more comprehensive policy, according to a recent study by ValuePenguin. Similarly, lost luggage benefits on your credit card could reimburse you for several thousand dollars in possessions that can’t be recovered if your baggage never makes it back to you after you put it on a bus, train, or plane. While you’ll need to check your card’s terms and conditions to find out the maximum compensation for lost luggage, it’s common for cards to set a $3,000 limit on the amount of reimbursement available. Be aware of the fine printWhile credit cards with trip cancellation benefits or similar protections are common, there’s usually some fine print to be aware of when it comes to your travel purchases. For example, some common caveats include:
How to pick the best travel card for youBe sure you can afford the annual fee, and look for other travel perks that may benefit you as well, like an application fee credit for TSA PreCheck or Global Entry. An ideal travel rewards credit card will also not charge you any foreign transaction fees. Make sure the card you're applying for earns the rewards you're trying to collect. For example, American Express cards earn Membership Rewards, whereas Chase cards earn Ultimate Rewards points. Be sure that the card's bonus categories line up with your spending. For example, if you spend a lot on fuel, you'll want to make sure that among the eligible purchases for bonus points are purchases at gas stations. This could make the Amex Platinum a good fit for you since it earns 5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases. Cardmembers also get access to booking trip through Amex Travel. The benefits of this card can easily outweigh it's annual fee of $695. Many cards can also give you a big boost of rewards toward your next trip by offering either a welcome bonus or sign-up bonus. The Chase Sapphire Preferred is currently offering a chance to earn 60,000 points after spending $4,000 on purchases in the first 3 months. If you are planning to make large purchases in the near future, you may also want to compare interest rates among the cards available to you as well. If your current credit score isn't high enough to qualify you for the kind of premium travel card you want, then take some time to improve your score and plan to apply in the future. FAQs
One of the best credit cards for travel insurance is the Chase Sapphire Reserve. Other cards, like the Chase Sapphire Preferred Card and The Platinum Card from American Express, offer similar travel coverages, but the travel insurance on the Sapphire Reserve tops their offerings. Reserve cardholders get primary rental car insurance, trip cancellation and trip interruption insurance, lost luggage reimbursement,
trip delay reimbursement, roadside assistance, and emergency evacuation and transportation. There are a number of travel credit card offers that include trip cancellation insurance, including the Chase Sapphire Preferred, Chase Sapphire Reserve, and The Platinum Card from American Express. Both the Sapphire Preferred and Sapphire Reserve offer up to $10,000 in trip cancellation or interruption
insurance per person and up to $20,000 per trip. The Amex Platinum offers up to $10,000 in trip cancellation or interruption insurance per trip and up to $20,000 every 12 consecutive months. Can you rely on credit card travel insurance?As long as you follow the terms and conditions of your credit card travel insurance, it could prove to be useful. The terms and conditions vary by credit card product, but they typically require you to pay for travel expenses with your eligible card to get the applicable insurance. This may include paying for flights, hotel stays, car rentals, tours, and more. Be sure to carefully review the terms of your credit card insurance so you understand how it works and can take advantage of your coverage should the need arise. What is typically not covered by travel insurance?Travel insurance typically won’t cover:
Bottom lineThere are a number credit cards with trip cancellation benefits and with other kinds of travel insurance benefits as well. To make sure this coverage is worth it for you, the key is to find a card that provides the protections you’re looking for when things go wrong on your trip — but which is also affordable and provides other features or perks that benefit you. Remember, once you have a card with travel insurance, always read the cardmember terms so you’ll know how much protection you have and what you need to do in order to make an insurance claim. When you do, you’ll have peace of mind knowing your financial loss is limited, even if a disaster occurs on your trip. MethodologyTo select the best credit cards for travel insurance, we assessed cards that offer various travel protection benefits, including trip cancellation insurance, lost luggage reimbursement, and emergency assistance services. We compared the cards’ rewards rates and annual fees to identify the best options for travelers. We did not include all cards available. Author Details
Christy Rakoczy Christy Rakoczy has a Juris Doctorate from UCLA Law School with a focus in Business Law, and a Certificate in Business Marketing with an English Degree from The University of Rochester. As a full-time personal finance writer, she writes about all things money-related but her special areas of focus are credit cards, personal loans, student loans, mortgages, smart debt payoff strategies, and retirement and Social Security. Her work has been featured by USA Today, MSN Money, CNN Money and more, and you can learn more at her LinkedIn profile.
Ben Walker, CEPF Ben Walker, CEPF, is a credit cards and travel writer at FinanceBuzz who loves helping others achieve their travel goals through financially sound decisions. For over a decade, he has been using credit card points and miles for the sole purpose of traveling the world. Ben is a Certified Educator of Personal Finance and has been featured in The Washington Post, MSN, Debt.com, and Finder.com. What credit card has the best travel protection?Best Credit Cards For Travel Insurance Benefits. Chase Freedom Flex℠:. Chase Sapphire Reserve®: Best Overall for Travel Insurance.. United Club℠ Infinite Card: Best Airline Card With Travel Insurance.. Capital One Venture X Rewards Credit Card: Best Value Premium Card for Travel Insurance.. What is the difference between trip cancellation and trip interruption insurance?Trip cancellation kicks in if certain medical or non-medical events occur before you leave home, so you're reimbursed on all or some costs, depending on your coverage. Trip interruption reimburses you if a similar set of events occur after you leave home and during your trip and you're forced to return home.
What is covered under trip Cancellation?Trip Cancellation Insurance will reimburse you for the amount of pre-paid, non-refundable travel expenses (e.g. airline, cruise, train, hotel, etc.) that you have insured, should you cancel your trip before departure for an unforeseen covered reason.
Does Chase Freedom cover trip cancellation?The Chase Freedom Unlimited card offers several helpful travel protections, including: Trip cancellation and trip interruption insurance covering up to $1,500 per person or $6,000 per trip.
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