Credit cards can come in very handy for travelers. They ensure that travelers are not denied access to cash adverse and emergency funds during their trips. But there is more to some of these cards than these.
For example, some of them offer travel insurance and some other perks. The question is whether or not they are worth it. Well, getting them can be worth it because of the several benefits and privileges that they offer. This is not ruling out the fact that there are some downsides to some of them.
This article will primarily discuss the benefits of getting a credit card that offers travel insurance. So, make sure you keep reading as the information can help you make sense of the need to get one.
Benefits of Getting a Credit Card with Travel Insurance
There are advantages to getting one of these cash advance solutions. This is especially if you do your due diligence and get the right one. Here are some of the benefits and privileges that you stand to gain:
Insurance Coverage
For starters, you are supposed to find out the level of insurance coverage that is offered. Having made that clear, you should know that some of the options available offer comprehensive insurance coverage.
As a result, you enjoy insurance protection for several things that could go wrong. Some of the protections that you get include the following:
Delayed or Missing Baggage
You get compensated for delayed or missing baggage. As a result, you do not lose on all ends. Such a card can be a good idea considering how many travelers have to deal with lost or missing baggage.
Emergency Medical Expenses
Some things could go wrong with a cardholder’s health while traveling. Inpatient, outpatient, diagnosis tests, and some other medical measures may be required. The insurance coverage that comes with using this kind of credit card could cover the expenses involved or a part of it.
Trip Interruption or Cancellation
There may be valid reasons to cut short your planned trip or have it interrupted. Unfortunately, the airline may have a non-refundable or transferable policy. Fortunately, trip interruption or cancellation coverage can be one of the perks that you enjoy.
Accident and Death
No one in their right mind would want to experience any type of accident or death during a trip. However, this has happened to people and we have not seen the last of it. As a result, it is wise to prepare just in case things go south.
This proves the decision to get and use this payment solution as wise. The reason is that the insurance coverage may cover for injuries and even death.
Speaking of injuries, cardholders can get some form of compensation for accidents such as loss of sight, hearing, speech; and even dismemberment, if experienced during the trip paid for with the card. The registered next of kin can also get compensated if the accident results in death.
By and large, cardholders get comprehensive travel insurance coverage by getting and using this payment solution. So, this makes securing and using it a wise decision.
Expense Reduction
Do not be too quick to assume that securing and using this payment solution is costly. Some people jump to this conclusion because of the interest rates and other costs (like annual fees and maintenance fees).
For starters, some issuers are more reasonable with their charges. On the whole, the benefits of using the right issuer’s card are worth it..
Besides this, using the right card would also turn out to be cost-saving. One of the reasons is that you do not have to purchase your travel insurance separately. Doing so will be more costly. So, it turns out that securing and using this payment solution for travel insurance purposes is cost-saving.
Automatic Coverage
Activating the insurance coverage of traditional insurance companies can be a hassle. For starters, you need to purchase the right policy. In addition to that, you are required to fulfill certain obligations before you can make the most of it (if the need ever arises).
For instance, there are out-of-pocket fees that need to be paid. Thankfully, there is less hassle with credit cards that offer this. All you need to do is pay all the operational fees and pay for your trip using your credit card. You are comprehensively insured once this is done.
Additional Benefits for Cardholders
Being insured during their trip is not the only thing that you stand to gain. There are several other perks up for grabs. The sort of additional perks that cardholders are entitled to depends on the issuer’s policy. Some of the possible perks include:
Airport Lounge Privileges
Cardholders do not have to wait for their flight in crowded and inconvenient waiting areas. They can enjoy the privileges that come with waiting in VIP airport lounges. Some of these benefits may include, but are not limited to:
- Internet access that allows you to work or surf the internet
- Drinks and snacks
- A convenient waiting area with no noise
- Access to current newspapers and magazines
- Showers
- Spa treatment
The privileges that you are entitled to will be determined by the card issuer’s policy. The policy also determines if the privileges are free or discounted.
Concierge Services
Your trip can be made a lot easier and more fun with concierge services. Thankfully, some of these cards made this possible with their free or discounted concierge services.
For instance, you can be assisted with transportation needs such as getting chauffeur services or even airport transfers. Also, access to leisure and luxury locations is possible. This includes locations such as private clubs, VIP lounges, art fairs, and other exclusive locations.
Priority Boarding
There is a list of people who have access to priority boarding. Fortunately, people with some kind of credit card with travel insurance are on this list. Other people who usually have access to priority boarding include:
- Military members on active duty
- Those who have purchased an elite fare class – such as premium economy, first class, and business class
- Corporate travelers who have an agreement with the airline that includes priority boarding
- People who purchase this service separately
- Those who the airline or the airline’s partners consider as having elite status
One of the major benefits of this service is that you will not be subjected to the usual delays that other passengers have to deal with. For example, you do not have to wait in line to board your flight. You can also get access to overhead bins before most people do.
Discount on Expenses
You can get significant discounts on certain expenses while on your trip. This further proves the cost-saving benefits of being a cardholder.
On the whole, your overall travel experience can be a lot better if you are a cardholder entitled to all or most of these perks. So, you should give serious thought to securing and using such payment solutions as a result of all these.
Consumer Protection
Cardholders of many of these cards enjoy a significant amount of consumer protection. For instance, you can get an extended warranty on certain purchases while others get a regular warranty. Also, your money can be refunded when you purchase certain substandard products with this payment solution.
This benefit comes in very handy especially when you buy costly items. This further emphasizes the level of consumer protection that you get with this payment solution.
It Is Possible to Customize
You do not have to settle for the basics with many of these credit cards. This is because there is the possibility of upgrading your plan and getting access to better privileges. This way, you can get something that suits you better and improve your travel experience.
This is the sort of flexibility that comes with a lot of credit cards that offer travel insurance. For instance, you can upgrade your plan to offer coverage for things that are not covered by the basic plans.
Convenience
There are several hassles involved in getting a traditional travel insurance plan. For starters, you need to file the paperwork and ensure that everything checks out. You do not have to go through this trouble with one that offers travel insurance.
Your travel insurance coverage is active once you pay for your trip using this payment solution. There are other ways it offers convenience as well. For instance, it is an easy-to-use payment method.
Choose the Right Credit Card with Travel Insurance
You have improved chances of enjoying all or most of these benefits with the right credit card. Here are some tips to help you choose the right one:
Figure Out Your Travel Needs
The frequency of your travels, the routes you normally take, and the type of travel that you embark on are important. The goal should be to choose one that would suit your travel needs.
Find Out the Kind and Amount of Insurance Coverage
Review the kind of insurance coverage and its extent. For example, will you be entitled to trip cancellation coverage, and on what grounds?
Find Out the Cost
Of course, there is a price for using this payment solution and enjoying all of the perks that come with it. However, you need to be certain that it is worth it by examining the costs involved.
Consult Credible Reviews
You should hear the take of previous customers and credible review platforms. This will shed more light on what to expect if you choose the card, or if you should not even consider it.
Conclusion
Several credit cards offer travel insurance. However, they all have their peculiarities in terms of specific features and policies. This is why you should review them before making your choice. The aforementioned are reasons you should seriously consider
a credit card that offers travel insurance. However, it is still important that you choose the one as pointed out here as well.
