The Ultimate Guide To Credit Card Travel Insurance
How did I manage? Let me explain
I was on my way to San Francisco when a storm hit and my flight from LaGuardia airport was canceled. Instead of panicking, I saw it as an opportunity to try out the travel delay benefit of my Chase Sapphire Reserve®.
I called the benefits administrator to make sure I was eligible for travel delay insurance and to confirm the coverage limits. Then I spent a few minutes figuring out how much I could afford to spend on a hotel, food, and Uber rides.
How to maximize the benefits of Chase Sapphire Reserve®
Everything went smoothly until the next morning, when it was time to head back to the airport. Uber was going above $80 for a ride to the airport, so I did what any traveler on a budget would do: I looked for the cheapest ride I could find. That turned out to be a limousine from the hotel car service. I felt like I was going to prom.
Travel insurance is easy to ignore, but I’m glad I had it when I needed it.
Travel insurance is easy to ignore, but I’m glad I had it when I needed it. Trip delay insurance on my Chase Sapphire Reserve® turned what would have been a miserable experience into a fun night in the City That Never Sleeps.
The best part? I didn’t pay a penny. Many travel credit cards include travel insurance at no additional cost in addition to the annual fee, as long as you purchase travel with your card.
However, not all credit card travel insurance is the same. Let’s take a look at what you need to know to find the card with the best travel insurance features for you.
Backup … What is travel insurance?
Travel insurance is exactly what it sounds like: insurance for when something goes wrong on your vacation or business trip. It can take many forms, from trip cancellation or interruption insurance to coverage for emergency dental work.
My favorite credit card for travel insurance is Chase Sapphire Reserve®. It covers a wide variety of expenses that result from unexpected changes to your travel plans, such as canceled flights and lost luggage.
See which card wins our luxury travel card battle
Let’s take a closer look at the benefits of travel insurance offered by this card.
Why do you need travel insurance?
At this point, you may be wondering if travel insurance is really worth it.
Just like auto and home insurance, you hope you never need it. But think of it this way: You’re protecting yourself from the worst-case scenario. What if your flight is canceled? What happens if your bags are lost? What if you get sick or sprain your ankle?
Just because you’ve never been in a car accident doesn’t mean you should cancel your car insurance. So why skimp on travel insurance?
If you need more proof, let’s take a look at some of the most common travel insurance benefits and how they might apply in a real-life scenario.