What travel coverage comes with credit cards?
If you're planning a trip, especially if you plan to leave Canada, you'll need trip insurance. Before you go online and start calling around to get quotes on coverage options, the first place you should look is your credit card.
Not all credit cards offer travel insurance coverage, and if they do not all cards offer the exact same coverage. However, checking which travel insurance comes with your credit card before purchasing independent coverage can help you save big bucks.
Trip delay and interruption
Have you ever been on a flight that was cancelled or delayed due to weather or runway traffic? There's nothing more boring than waiting around for hours in an airport and there's nothing worse than having to pay for unforeseen hotel nights.
If your credit card travel benefits include trip delay and interruption insurance, you're covered. Keep your receipts, and after you get home from your vacation contact your insurance company to file a claim. If you're not covered, you may want to purchase trip delay and interruption insurance because when it comes to travelling we just never know what can happen.
Baggage loss and delay
If you've ever arrived at your destination without your bags, you know being luggage-less can be a huge inconvenience. You need to scramble to find a store to repurchase all of your necessitates – at least until your bags arrive.
If your luggage is completely lost, the cost to replace all your goods can be very expensive. Before you jet set off on your next vacation, check with your credit card travel pluses to see if you're covered for loss or delayed baggage.
Emergency medical insurance
This is helpful for anyone who is travelling, but it's extremely helpful for snowbirds who travel out of the country for the winter. If you seek warmer clients during the cold Canadian months, knowing that you're covered in case of a medical emergency can bring peace of mind.
Whether you're leaving for two weeks or two months, it's important to check exactly which type of medical insurance your credit card travel benefits offer. Sometimes doctor's visits are covered, but hospital stays are not. You'll want to make sure you're covered for treatments, medications, and procedures, as well as doctor and hospital visits. The last thing you want is to be injured on vacation and end up with a big medical bill in a foreign country.
Car rental insurance
The price to insure a rental car can be up to $29 a day. That's a lot of extra money, but at the same time it's cheaper than having to pay for the total replacement of a car if you're in an accident.
Read the fine print in your credit card agreement to see if you're covered for car rental insurance. Sometimes collision insurance is offered but theft is not. If this is the case you'll need to buy additional insurance with the rental company to make sure you're fully covered.
Certain types of cars may also not be covered. Sometimes your credit card will insure smaller cars and sedans but not SUVs. It's always better to ask before you rent rather than have a surprise later.
With a little research and the right strategy, you should be able to get the travel insurance coverage you need without breaking the bank.