If you’re someone who travels a lot, whether this be for business or pleasure the chances are at some point something might have gone wrong with your finances, or if it hasn’t – you might at the very least know someone who has experienced something similar. What if you go abroad, and you lose your credit card or maybe you or a loved one falls ill and needs urgent care. What do you do then?
For some, the initial response might be to simply foot the bill themselves and stump up the cost from their own money, but is this really economically viable? Before you do so, it can sometimes pay to contact your credit card company and see if they can help you regarding a deal on your credit card with travel insurance.
Traveling a Lot? Think About a Credit Card with Travel Insurance
If you do travel a lot for business or even if it’s just for pleasure it can make a lot of economic sense to opt for credit cards with travel insurance and it’s worth shopping around to try and find a good company who will supply you with one. Look for the best deal for you and not just what on the surface appears to be a good deal on the whole – you need to think about your own personal needs and requirements.
Credit Card Brands You Should Consider
The two brands that people will be most familiar with are probably Visa and Mastercard. If you’re a traveller making frequent trips abroad it is worth your while opting for a card that has either the “VisaSignature” or “WorldMasterCard” emblem on it. This will guarantee you that you’re protected should you travel abroad and something goes wrong. They provide cover which might not necessarily happen with other cards, such as reimbursement for lost or delayed baggage, or protection in case of accidental or sudden death.
World Master Card also offers trip delay protection too and will cover you for missed connections or for if you are delayed for a certain amount of time. If you’re delayed for more than six hours, you can be entitled to up to $100 reimbursement per hour. If you’re delayed for more than nine hours you could claim up to $900, plus an extra $650 if you cannot make the next flight. You can also get expenses if you are taken severely ill and need long term medical care.
American Express is the brand which is probably most famously associated with travellers though. Within their family of credit cards, they offer three distinct brands – the Blue Sky Preferred Card, Platinum Card and Gold Delta SkyMiles Card and they are all worth investigating, each with their own benefits for frequent travellers. The latter options throw in baggage cover of up to $2000.
Finally, there is the Discover brand – which isn’t synonymous with being one of the credit cards with travel insurance, but does still offer good perks for anyone who is a seasoned traveller. The company will provide you with flight insurance cover for up to $500000, and will help with your baggage if it is delayed for more than three hours.
There is always a caveat to all the financial benefits of credit cards with travel insurance. In this instance it is the fact that you might be subjected to higher than average annual fees. Before you commit to signing on the dotted line with any credit card company, make sure you look at all the fees you’ll be expected to pay then you’re not in for any nasty shocks when your statements arrive.
A standard card will always offer you a small amount of cover or protection if you’re traveling abroad, so if you’re not someone who travels a lot it really doesn’t make any sense to opt for something like this. However, if you know you can make use of it, then it’s always worth considering.
If you’re someone who is a frequent traveller the first thing to think about if you’re considering credit cards with travel insurance are your own immediate needs. Think about how often you travel, whether your travel is from country to country or within home states. If you’re traveling to foreign climes your needs will vary to if you’re mostly traveling within the USA, though not perhaps vastly so if you’re flying a lot.
Look at fees for any card you’re applying for and consider them all before you commit. It’s no good signing up then finding out you’re being stung for annual charge you were not aware of. Don’t be afraid to shop around to get the best deal, it’s your money after all, and you need to think about getting the best level of protection for the amount and frequency of travel that you undertake.