Overseas Travel Insurance – Are You Covered?

I’m always happy to pass on great info, and this is great info! I’ve included a few snippets below lifted from the full article.

In this article, we’re going to look at what credit card travel insurance has to offer, who it works best for, and what you need to look for when comparing the options. So, let’s get into it.

What is credit card travel insurance?

Credit card travel insurance is a feature offered on some credit cards, and is usually designed to attract new cardholders. Working in much the same way as standalone travel insurance, this added extra can offer cover while travelling overseas or at home, covering events such as travel delays, lost luggage and medical emergencies.

What does credit card insurance offer?

So, why would you choose credit card travel insurance? To answer that, let’s ask why you would purchase any type of insurance. Buying insurance allows us to protect ourselves in case something bad happens. By choosing a credit card with travel insurance that offers suitable cover for your needs, you can protect yourself should something bad happen to you while travelling.

How does credit card travel insurance vary?

One of the most important things to think about when choosing travel insurance of any kind is suitability. There’s no point having cover it doesn’t actually cover you. When assessing the level of cover, it can be helpful to check out the following factors:

• Trip duration: How many days of travel will it cover? This includes looking at the number of days each trip can be, as well as how many days per year can be spent overseas.
• Medical expenses: Is there a limit on the amount that will be paid out in the event of a medical emergency? What other medical events are covered and what are their limits? Do you have any pre-existing conditions, and will they be covered?
• Luggage: Does it cover lost belongings, or only those that are stolen or damaged? What limits apply? Will it be enough to cover everything in your suitcase if it goes missing? What about high-cost items such as jewellery and electronics?

Do you need more detail on this subject? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts at mfw@kingandcompany.com.au; or call me on (07) 3243 0000.

Thanks,

Mark