Does my credit card have travel insurance?

What is credit card travel insurance?

Many people think of travel insurance mainly securing coverage in case of getting sick or injured outside of Canada. While that is certainly one kind of essential medical insurance when visiting international locales, travel credit card insurance varies by provider and can also include an impressively wide range of coverage, including things like trip interruption, baggage delay, rental car insurance and more.

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How do I know if my credit card has travel insurance?

So what should you do if you’re wondering whether or not your credit card has travel insurance? Firstly, never assume that your card comes with insurance. In fact, unless you’re paying an annual fee for your card, with few exceptions, it’s a good bet that you aren’t covered or would have only the minimum amount of coverage. Another thing to look out for is whether or not your card is marketed as a travel credit card because those often come with travel insurance.

To find out if your credit card includes travel insurance, the best thing to do is to check your benefit guide or contact your card issuer. You can also check out the card’s website or the information pamphlet you got when you first received your card.

What does credit card travel insurance cover?

The bad news is that the only way to really know what your specific credit card covers in detail is to read the fine print. While it may sound boring, understanding your credit card's travel insurance policy is crucial to fully benefit from its coverage. It’s also the best way to understand exclusions, which are equally as vital to understand (for example, how many days you’ll be covered, as coverage does not necessarily run the entire length of your trip depending on your card).

Your credit card may include these kinds of travel insurance:

• Emergency medical insurance
• Trip cancellation/interruption insurance
• Flight delay insurance
• Delayed and lost baggage insurance
• Travel accident insurance
• Rental car insurance
• Hotel/motel burglary insurance

Note that you usually have to charge the full amount (or at least 75%) of your flight, hotel, car rental, etc. to your card for your credit card insurance to be active. The one exception to this rule for most cards is emergency medical insurance, which will often cover you even if you don't charge the trip to your card. Children and spouses/partners are usually also covered when they travel with the cardholder — as long as their part of the trip is charged to the card. Check with your credit card issuer to see who is protected by your insurance.

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What does credit card travel insurance not cover?

While credit card travel insurance can be quite comprehensive, there are some key exclusions to be aware of for most travel credit cards:

• Pre-existing medical conditions are often excluded or have limitations. If you have any medical issues, read your policy carefully. You may also be required to notify your insurance provider of your condition if you want it to be covered.
• Dangerous activities like skydiving or bungee jumping may not be covered.
• Trips longer than a certain duration, which can usually range anywhere from 15 to 30 days may not be fully covered — however, top-up insurance can extend your coverage.
• Be aware that age also matters. Many cards offer coverage for at least two weeks, but may offer as little as three days or none for cardholders 65 and over.
• The dollar amount of your coverage is limited. For an expensive trip, you may need to purchase additional insurance.
• You usually need to pay the full amount or charge a large portion of your trip (75% or more) to the card for some insurance like trip cancellation/interruption coverage to apply.
• You often need to contact the insurance company as soon as an emergency happens to ensure you get reimbursed. There may also be a deadline as to how long you can apply for reimbursement (such as a year after the trip).

Do all credit cards include travel insurance?

Not all credit cards come with travel insurance. Travel insurance is most commonly found on travel rewards credit cards, which often charge an annual fee. No-fee credit cards are less likely to come with travel insurance. But be aware that even if you have a travel credit card with an annual fee, specific insurance and coverage varies widely. Always read the details of your insurance policy to know what’s insured. Don't assume you're covered without checking.

How do I choose a credit card with travel insurance?

If you want to prioritise credit card travel insurance, look for a card that has coverage that most aligns with your needs, such as:

• The number of trip days covered for both those below and above the age of 65
• The dollar amount for each specific insurance type
• Whether the card covers your partner and children, or possibly your extended family
• If there are any excluded countries or activities
• What portion of your trip needs to be charged to the card

Do I need additional travel insurance?

Whether or not you need to buy additional insurance will depend on your specific credit card. You’d be well advised to read the fine print or contact your credit card provider to ask about specific situations that may not be covered. If you have a pre-existing condition, are 65 or older or are travelling with valuables, you may want to get extra travel insurance. Another important consideration is whether you are travelling overseas or not. If you are travelling within Canada, your provincial health plan may cover most medical emergencies but would not cover things like lost luggage and trip interruption.