Card Travel Insurance Can Stack Up
Travel insurance is an essential part of any trip -- and has traditionally been purchased from a travel agent or, more recently, online. But these days, banks -- better known for mortgage lending -- and credit card companies offer travel insurance linked to their cards, which, in some instances, stacks up against traditional policies.
Credit card travel insurance generally covers loss of cash up to $500 per person, whereas traditional policies feature minimal, if any, cash cover. Policies from card providers may also include luggage and personal items and additional cover that is considered separate to international travel insurance.
On the downside, they may state a generous claim limit in one part of the policy, but list a series of exclusions pages earlier. It is important to thoroughly read the policy. The biggest catch with credit card travel insurance is that you'll only be covered if you paid for some, or all, of the international air tickets on the credit card.