Does Your Credit Card Provide Coverage?

Trip cancellation and interruption benefits, lost luggage reimbursement and travel accident insurance are commonly included on premium travel cards.

However, credit card coverage has significant limitations that most cardholders don’t fully understand until they need to make a claim. The coverage limits are typically much lower than a standalone travel insurance policy. Trip cancellation coverage on a credit card might reimburse $1,500 to $5,000 per trip, while a standalone policy can be tailored to cover the full non-refundable cost of your trip regardless of the amount.

Most importantly, credit card travel benefits rarely include medical evacuation coverage. This is the single most expensive travel risk you face – and it’s almost universally absent from credit card policies. If you’re traveling internationally and relying on your credit card for protection, you almost certainly have a significant gap in your coverage.

Before assuming your credit card covers you, read the actual benefits guide – not the marketing summary. Understand the limits, the covered reasons and what documentation you’d need to file a claim. Then decide whether those limits are adequate for your trip or whether a standalone policy makes more sense.