These days, everyone wants to sell you a travel insurance policy. Airlines and online booking platforms offer coverage as an add-on when you reserve your trip. Premium credit cards offer various forms of travel insurance as part of the benefits you pay for in your annual fee. And, of course, there are traditional policies for sale directly from insurance companies.
Each option protects you in different scenarios. With so much variation in coverage and price, it’s hard to compare. How does credit card insurance stack up? Turns out, it’s adequate for some trips, but not for all of them.
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What Travel Policies Have in Common
Travel insurance is meant to protect against sudden, unforeseen or unexpected situations. Notably, that means that trip cancellation/interruption expenses related to a well-known hazard (like Covid-19) are not covered (there are exceptions which we’ll discuss).
It also means that any personal pre-existing medical conditions also aren’t covered unless your coverage includes a waiver. This doesn’t necessarily mean that you can’t get coverage if you have a pre-existing condition, but it does mean that you will have to meet certain requirements for coverage. These often include purchasing your insurance early and having no change to your pre-existing condition for a period of time that varies by policy.
Policies also have time requirements for initiating a claim (plan on filing within 30 days of the incident to be safe, although in some cases you may have longer). You’ll then have additional time to compile and submit supporting documentation. Expect to share an elaborate paper trail detailing what happened and any related expenses you incurred. Receipts are non-negotiable.
Coverage is null and void anytime it’s a result of illegal activity. You may also be denied if the cause of the incident included alcohol or drugs. As always, an ounce of prevention may be worth a pound of cure. And some activities, like skydiving, may be legal but disqualify you from insurance under an “adventurous activity” clause, though some policies will offer riders for this type of activity. Make sure your insurance covers you before you take the jump.
Credit Card Travel Insurance
Credit cards tout travel benefits as a way to offer value in exchange for annual fees. Four of the most popular cards that offer travel insurance are the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, The Platinum Card® from American Express (Terms apply) and the Capital One Venture X Rewards Credit Card.
With all of these cards, you must pay for your trip transport (such as a flight ticket, cruise, package tour or train ticket) using your credit card to be eligible for coverage. You must also remain a cardmember at the time you file your claim and have an account in good standing. Immediate family members are covered, assuming you paid for their travel with your card. Keep an eye on age limits for children: coverage varies not only by card, but by benefit. All benefits cover children up to 18, but some benefits will cover older adult children if they’re still students.
Chase Sapphire Preferred Travel Insurance
The Chase Sapphire Preferred® Card offers trip insurance without a high annual fee. This mid-range card includes several noteworthy benefits for a $95 annual fee.
Chase Sapphire Preferred Collision Damage Waiver
One of the strongest benefits the card offers is an auto rental collision damage waiver (CDW). If you rent a car, pay with your Sapphire Preferred and decline the CDW coverage sold by the rental agency and you’ll be covered. The coverage offered is primary—meaning it pays before your auto insurance at home kicks in—and will pay associated costs for theft or accidental damage.
Keep in mind it doesn’t cover liability for other property (such as a second car in a collision), medical or legal expenses. The Preferred’s CDW also has limitations regarding luxury, sports and electric cars that could cause you unexpected headaches, so be sure you know what’s not covered before renting that Tesla.
Chase Sapphire Preferred Trip Cancellation and Trip Interruption Insurance
Another valuable included benefit is trip cancellation and trip interruption insurance. This coverage reimburses you for nonrefundable, prepaid expenses you incurred if you unexpectedly have to cancel the trip (trip cancellation) or have to cut the trip short (trip interruption). You can be reimbursed up to $10,000 per covered traveler with a maximum of $20,000 per trip and $40,000 annually. Some examples of covered reasons include hospitalization or death of an immediate family member, named storm warnings, court subpoenas or terrorist activity.
Chase Sapphire Preferred Trip Delay Insurance
All travelers have experienced trip delays at one point or another, for example when thunderstorms cancel your flight or cause you to miss a connection. With the Chase Sapphire Preferred® Card, you can be reimbursed up to $500 per ticket purchased if you’re delayed 12 or more hours or overnight for covered reasons (most commonly severe weather or mechanical issues). It will cover costs such as hotel rooms, taxis and meals.
Chase Sapphire Preferred Lost and Delayed Luggage Insurance
The card also offers insurance of up to $3,000 per covered passenger per trip for lost luggage or up to $500 for delayed luggage ($100 per day for up to five days) so you can buy what you need while waiting for your suitcase to arrive.
Chase Sapphire Preferred Travel Accident Insurance
The last major coverage this card includes is travel accident insurance, which is essentially accidental death and dismemberment insurance. This insurance pays out a lump sum if you lose your sight, speech, hearing, a limb or life while traveling. But it only covers accidental death, such as a car crash or fall. The coverage maxes out at $100,000 unless the loss happens while traveling on a common carrier (e.g. while in-flight) in which case it increases to $500,000.
Chase Sapphire Reserve Travel Insurance
The Chase Sapphire Reserve® is a premium version of the Chase Sapphire Preferred® Card. With an annual fee of $550, you’re paying a lot more—but you’ll receive more benefits and higher coverage limits in exchange. Coverage follows the same pattern as the Sapphire Preferred, but with higher limits and additional features.
Chase Sapphire Reserve Collision Damage Waiver
With the Sapphire Reserve, you’ll get rental car CDW insurance that reimburses up to $75,000 for covered damages, whereas the Chase Sapphire Preferred® Card reimburses “up to the Actual Cash Value of most rented cars.” This is an important distinction if you are a luxury car fan, as the Preferred specifically excludes brands such as Corvette and Porsche.
Chase Sapphire Reserve Trip Cancellation and Trip Interruption Insurance
Trip interruption and trip cancellation coverage is identical to the Sapphire Preferred, reimbursing up to $10,000 in expenses per covered traveler, or $20,000 per covered trip. The annual maximum is also the same, at $40,000.
Chase Sapphire Reserve Trip Delay Insurance
The Sapphire Reserve’s maximum benefit for Trip Delay Reimbursement is $500, but kicks in after six hours where the Preferred requires 12. This means it is useful on much shorter delays.
Chase Sapphire Reserve Lost and Delayed Luggage Insurance
Baggage loss and delay insurance shares its primary features with the Sapphire Preferred. If your bags are delayed beyond the first six hours, Chase will reimburse reasonable expenses up to $100 per day for up to five days of delay. If your bags are lost entirely, Chase will pay up to $3,000 to replace the contents, with sub-limits of $500 for jewelry and watches and another $500 for electronics.
Chase Sapphire Reserve Emergency Evacuation Insurance
If you or a family member needs emergency evacuation while traveling, the card will potentially reimburse up to $100,000 for transportation, medical services and necessary medical supplies. In some cases, this may not cover the entire cost of evacuation, especially if you require an international air ambulance and/or are traveling through a remote location. In order to be covered, the evacuation must be arranged in advance by the benefits provider.
Chase Sapphire Reserve Travel Accident Insurance
Travel accident insurance for the Sapphire Reserve is double that of the Preferred, with a maximum $1 million payout for loss of life while traveling on a common carrier, and lower limits for other types of injury.
Chase Sapphire Reserve Emergency Medical and Dental Insurance
The Sapphire Reserve is the only credit card on this list that offers emergency medical and dental insurance. However, it tops out at $2,500 in reimbursements and carries a $50 deductible. While that amount will cover some medical treatments, hospital bills in some countries could easily surpass that.
Capital One Venture X Travel Insurance
Another card with a large suite of travel benefits, the Capital One Venture X Rewards Credit Card (rates & fees) might be a useful option for your wallet. It comes at an annual fee of $395 though the insurance benefits alone could cost more than that if purchased separately. Among the included travel protections are trip cancellation and interruption benefits, trip delay reimbursements, travel accident insurance, lost luggage reimbursement and rental car collision damage waivers.
Capital One Venture X Auto Rental Collision Damage Waiver
The Venture X provides primary insurance coverage for rentals up to 15 days long in your home country or 31 days abroad. It covers most vehicles up to their Actual Cash Value, though expensive cars (defined as those with an MSRP of more than $75,000 when new), exotic cars, vans, trucks, motorcycles and some other vehicles are excluded, as are rentals in Israel, Jamaica, Ireland and Northern Ireland.
Capital One Venture X Trip Cancellation and Interruption Insurance
Trip cancellation and interruption insurance can be a huge help when the unexpected arises, but it’s worth noting the benefits here are limited. Assuming the cause of your cancellation is covered—such as the death or illness of you or an immediate family member—you may be reimbursed for up to $2,000 per eligible traveler toward the cost of common carrier tickets. Additional prepaid expenses, such as hotel stays, are not reimbursable.
Capital One Venture X Trip Delay Coverage
For trip delays, you can receive up to $500 per ticket toward eligible expenses on delays of six or more hours (overnight delays are automatically included).
Capital One Venture X Lost Luggage Coverage
If your luggage is lost, you’re covered up to $3,000 toward the cost of replacement items, similar to the Chase cards above. However, delayed bags aren’t covered at all, so you’ll have to buy your own shampoo if you caught your flight, but your suitcase didn’t.
Capital One Venture X Travel Accident Insurance
The travel accident insurance included on the Venture X is quite generous. It maxes out at $1,000,000 per traveler per covered reason, such as the accidental loss of life, limb, sight, speech or hearing while traveling on a common carrier. This is similar to the Sapphire Reserve’s limit in this category, but this is coverage you hopefully never have to use.
Overall, the travel protections on your Venture X card are a mixed bag, with some lagging the benefits offered on other cards (or separately purchased policies).
American Express Platinum Card Travel Insurance
The Platinum Card® from American Express is another ultra-premium credit card with a $695 annual fee (terms apply, see rates & fees) offering several forms of travel protection.
Platinum Card from American Express Collision Damage Waiver
The Amex Platinum offers CDW for car rentals¹, but it’s important to know that Amex’s coverage is secondary, not primary. This means that you will need to make a claim with any other insurance you have first, then Amex will cover any excess.
Platinum Card from American Express Trip Cancellation and Interruption Insurance
Trip interruption and trip cancellation insurance is also provided, but coverage maximums are only half of what’s offered by the Sapphire Preferred and Reserve cards: $10,000 per trip and $20,000 per year.⁴
Platinum Card from American Express Trip Delay Insurance
For common occurrences, travelers are protected with up to $500 per trip for unforeseen expenses associated with trip delays of six hours or more.²
Platinum Card from American Express Lost Luggage Insurance
Amex will reimburse up to $2,000 for lost checked baggage and $3,000 for lost checked and carry-on baggage combined.³ This coverage is mostly in line with the coverage of its competitors, although you’ll receive slightly less coverage for a single lost bag.
Platinum Card from American Express Emergency Evacuation Insurance
The Platinum Card from American Express provides emergency evacuation. The evacuation cost will be covered in full, but their Premium Global Assist Hotline determines what they consider adequate medical care.⁵ They’ll decide how and when you’re evacuated and which hospital you’re evacuated to. Unlike the Sapphire Reserve, the Platinum card doesn’t offer medical or dental coverage, so you’re responsible for all medical bills after you’ve arrived at the destination of their choice. Note that the Platinum Card’s coverage does not specify that the trip in question has to be charged to the card.
Other American Express Cards That Offer Travel Insurance
Though we’re only covering the Platinum card here, it’s worth knowing that other premium Amex cards also offer travel insurance. Check your benefits guide for details if you carry cards such as the Hilton Honors Aspire Card from American Express*, Marriott Bonvoy Brilliant® American Express® Card (Terms apply. See rates & fees) or Delta SkyMiles® Reserve American Express Card (Terms apply. See rates & fees). Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company. Terms Apply.
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Compare Travel Insurance Offered By Top Cards
| Chase Sapphire Preferred | Chase Sapphire Reserve | Capital One Venture X | The Platinum Card by American Express | |
|---|---|---|---|---|
|
Collision Damage Waiver Coverage Type
|
Primary Coverage
|
Primary Coverage
|
Primary Coverage
|
Secondary Coverage
|
|
Trip Cancellation and Interruption Maximum Benefit
|
Maximum benefit of $10,000 per covered traveler, $20,000 per covered trip, and $40,000 annually
|
Maximum benefit of $10,000 per covered traveler, $20,000 per covered trip, and $40,000 annually
|
$2,000 towards the cost of common carrier tickets only
|
Maximum coverage of $10,000 per trip and $20,000 per year
|
|
Trip Delay
|
Up to $500 per ticket for delays over 12 hours
|
Up to $500 per ticket for delays over six hours
|
Up to $500 per ticket for delays over six hours
|
Up to $500 per ticket for delays over six hours
|
|
Lost Luggage Replacement
|
$3,000 maximum, with sub limits of $500 each for jewelry/watches and electronics/cameras.
|
$3,000 maximum, with sub limits of $500 each for jewelry/watches and electronics/cameras.
|
$3,000 maximum
|
Maximum of $2,000 for checked baggage, and $3,000 for checked and carry-on bags combined
|
|
Delayed Luggage Benefit
|
$100 for every 24 hour period after the first six hours, up to $500 maximum
|
$100 for every 24 hour period after the first six hours, up to $500 maximum
|
None
|
None
|
|
Travel Accident Maximum Benefit
|
$500,000
|
$1,000,000
|
$1,000,000
|
$1,000,000
|
|
Other Coverage Offered
|
None
|
Emergency Evacuation |
None
|
Emergency Evacuation
|
Separately Purchased Travel Insurance Policies
Given the included coverage available with these credit cards, how do paid policies differ? Purchasing a policy usually costs about 4% to 6% of your trip cost but can range up to nearly 10%, with prices varying based on traveler age, destination, coverage amounts and length of trip.
As you’re shopping, you’ll find dozens of different insurers, some of which are not reputable. You can consider our list of the best travel insurance companies, but you’ll need to cross-check the details of each policy to make sure you’re comparing apples to apples.
Unlike credit cards, the main benefit of a comprehensive travel insurance plan is that it’s full-featured. Neither Chase, Capital One nor American Express covers every type of incident you may encounter, but many paid policies do. You can choose higher coverage limits as well, or even upgrade to cancel for any reason policies.
Allianz Travel Insurance
Allianz Global Assistance is one of the world’s leading travel insurance companies. They offer multiple policy variations, but here we’ll look at their mid-tier OneTrip Prime Plan. A quote for two travelers in their 40s spending two weeks in France at a total trip cost of $8,000, costs $194 per person.
With this policy, travelers get a full suite of coverage, including trip cancellation, trip interruption, trip delay, lost baggage, delayed baggage, travel medical and emergency evacuation. The main upgrades here are the increased medical ($50,000 per person) and emergency transportation coverages ($500,000).
Allianz Travel Insurance has a perk on the OneTrip Prime and Premier plans that not all companies offer: Children 17 and under are covered for free under their parents’ or grandparents’ plan if they are traveling together.
Travelex Travel Insurance
Travelex is another reputable insurance company underwritten by Berkshire Hathaway. Like Allianz, it offers several levels of coverage, with their TravelSelect plan being most similar for comparison reasons. The same trip to France for two costs $396 per person but includes slightly higher coverage amounts. Like Allianz, Travelex offers free coverage for children 17 and under when traveling with a covered family member.
The TravelSelect plan offers comprehensive coverage, including trip cancellation and interruption, trip delay, lost baggage, delayed baggage, travel medical and emergency evacuation. Trip cancellation covers 100% of the insured trip cost and trip interruption covers 150% of the insured trip cost, while the Allianz plan limits this coverage to $100,000 and $150,000 per traveler respectively. Emergency transportation includes half a million dollars of coverage and medical insurance includes $50,000 per person of coverage, identical to Allianz.
Benefits of Separate Travel Insurance Policies
There’s no question that a paid policy greatly increases the amount of medical reimbursement available to you in case of injury or illness. With credit card insurance limits of $2,500 at best for medical treatment, a traveler could quickly exceed the maximum coverage. Mid-tier paid policies can offer 20 times the amount of coverage.
The emergency transportation benefits of standalone policies far exceed that of the Sapphire Reserve. However, both travel insurance companies state a maximum coverage limit for this benefit, whereas the Platinum card does not. In both cases, the provided coverage will pay for your transportation to the nearest adequate hospital or pay for someone to be by your bedside during an extended hospital stay. That flexibility can be valuable for peace of mind.
Lastly, paid policies offer non-tangible benefits as well. Most companies include extra resources for policyholders to help you plan or research safety issues for your destination before traveling. There are also assistance hotlines you can contact while traveling to get recommendations on doctors or medical facilities abroad.
Bottom Line
Credit cards offer real, tangible travel insurance benefits that can protect you from unexpected bills. However, there’s no single credit card that covers every facet of your trip. The Sapphire Reserve comes the closest, but has relatively low caps for medical reimbursements. Many travelers will prefer a more comprehensive policy.
For simple trips, credit card insurance may suffice, especially if your normal health insurance will cover potential medical expenses while traveling. Travelers looking for extensive medical and/or evacuation insurance will need to purchase a separate policy or be prepared to pay for possible expenses out of pocket.
Find the Best Credit Cards For Travel Insurance Of 2024
To view rates and fees for The Platinum Card® from American Express please visit this page.
To view rates and fees for Marriott Bonvoy Brilliant® American Express® Card please visit this page.
To view rates and fees for Delta SkyMiles® Reserve American Express Card please visit this page.
¹Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
²Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
³Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
⁴The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
⁵You can rely on Global Assist Hotline 24 hours a day / 7 days a week for medical, legal, financial or other select emergency coordination and assistance services while traveling more than 100 miles away from your home. Plus, we may provide emergency medical transportation assistance and related services. Third-party service costs may be your responsibility. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Frequently Asked Questions (FAQs)
Which credit cards have travel insurance?
Many credit cards carry some form of travel insurance, but the most comprehensive coverage is offered by travel rewards cards like the American Express Platinum Card, Capital One Venture X, Chase Sapphire Preferred and Chase Sapphire Reserve.
How does credit card travel insurance work?
Credit card travel insurance provides limited coverage for certain types of common losses. These often include trip delay, lost baggage and damage to a rental car. Check your card’s benefits guide for complete information.
How do I use credit card travel insurance?
The way to use your credit card’s travel insurance varies depending on the card you have, so check the terms and conditions carefully. Typically, you must pay for trip expenses like airfare and rental cars using the credit card.
How do I get travel insurance?
Getting travel insurance can be as simple as using a specific credit card to pay for a rental car or a plane ticket. You can also buy a separate policy through a travel insurance company, which often offers more comprehensive coverage.
Which travel insurance is best?
Typically a standalone travel insurance policy provides more comprehensive coverage, but at a higher price. You can compare travel insurance to determine which policy best fits your needs. Even if you don’t purchase a separate policy, your credit card may provide some limited protection, especially if you have a travel rewards card.
How does travel insurance work?
Travel insurance typically requires you to pay out of pocket for expenses, then file a claim with the insurance company (or your credit card issuer) to be reimbursed. You typically need to file a claim within a certain amount of time of the loss (generally 30 to 90 days), and will need to provide supporting documentation.
