Do I need Travel Protection if I Have Credit Card Insurance?
Every credit card company offers different benefits and each has a different version of fine-print. The fine-print could either save you or cost you thousands of dollars in the event of an accident abroad. On the contrary, travel protection more clearly outlines what coverage are available.
Travel Protection with Credit Card Insurance
If you think your credit card, auto, or health insurance is a golden ticket to ensure your coverage abroad it is wise to re-evaluate. Know it is highly recommended to have travel insurance, for a full list of trusted insurance providers click here. Read the fine print in regards to emergencies abroad of whichever insurance you have and see where the gaps are and can be cover with a travel protection plan. Simply put: Many credit card companies only cover expenses purchased with THEIR card. The coverage could be lower than cover that would be available from a travel insurance company. Some traditional insurance companies may limit, even stop, coverage once you leave the borders of the United States.
Look for answers to the following questions within your current coverage plan before vetoing the idea of getting travel protection from a reputable travel insurance company:
- What is the cost of my trip to my insurance? Does my trip exceed that?
- In case of delays, will extra expenses like hotel stays, meals, and taxi fares be inclusive with my insurance?
- If my luggage goes missing, will the insurance cover the cost?
- In the event my luggage goes missing, will I get remeburse for essential personal items to help me enjoy my trip?
- Is trip cancellation and interruption a part of my insurance? If so, what are the reasons to cancel or interrupt my trip?
- Is emergency medical/dental and evacuation from the country are part of the deductible?
- Is that amount enough to cover the duration of my trip?
- If I become ill or sustain some form of injury while traveling, do I have the option to go to the nearest hospital of my choice?
- Are pre-existing medical conditions covered? Which ones?
- Does my credit card/home/auto insurance extends to my children (travel companions) at no additional cost to my insurance?
After researching and finding the answers to these questions we think you will be able to make a more educated decision on whether you need travel protection insurance. You will also be able to draw conclusions whether you, your travel companions, your trip itinerary, and your luggage are worth the money it would take protecting when traveling internationally.