What types of travel insurance are offered through credit cards; check list here | Mint

Travelling the world is an exhilarating experience, but it’s essential to be prepared for the unexpected. Many credit cards come with built-in travel insurance features that provide financial protection against a variety of travel-related incidents. From trip cancellations and disruptions to lost luggage and medical emergencies, these benefits can offer both peace of mind and significant savings.

Understanding credit cards

A credit card is a plastic card issued by a bank or financial institution, allowing you to borrow money for purchases. When you use your credit card, you’re essentially taking out a loan, and the amount spent is added to your credit card balance. You then have a specific period to repay this balance.

What is travel insurance offered by credit cards?

Credit card travel insurance is a valuable benefit that provides financial protection while travelling. These insurance benefits typically cover a range of scenarios, including trip cancellations, interruptions, lost or delayed baggage, medical emergencies, and even rental car insurance.

Benefits of supplementing credit card travel insurance with standalone policies

• Coverage limits: Standalone travel insurance often provides more comprehensive coverage compared to credit card-linked plans.
• Comprehensive coverage: These policies can cover pre-existing medical conditions and high-risk activities more thoroughly.
• Customization: Standalone policies frequently allow for tailored coverage options, including enhanced medical coverage and specific travel interruption insurance.
• Cost considerations: Credit card insurance is often supplementary, meaning you may have to cover expenses that exceed the primary insurance limits.

Conclusion

Credit cards can be invaluable tools for travellers, offering built-in travel insurance benefits that provide financial protection against unforeseen circumstances. Understanding the types of coverage available through your credit card helps you make informed decisions about your travel insurance needs.