Why take out travel insurance when I have a credit card?

When you compare both, you may be surprised...Don't you prefer a worry-free trip? Look at the extent of insurance provided by your credit card.

 
Most credit cards do not offer insurance for trip cancellation and you may have had to pay for your trip with your credit card to be covered.

In addition, your medical expenses may be limited to a mere coverage for accidental death.

Also, be aware that credit cards have coverage much smaller than a stand alone travel insurance policy. For example, with regards to the "emergency assistance" benefit, all medical treatment costs are excluded and "emergency assistance coverage’’ only refers you to the closest hospital or clinic. You will be liable for all medical expenses received from the doctor or the hospital after your emergency.

 
"My Gold credit card covers medical emergencies, trip cancellations and baggage insurance!"

That's great but pay attention to the following:

Your lenght of stay: Some credit cards limit the length of stay according to age; not very practical for someone who spends winter in the sun...

Others have eligibility criteria that you need to answer; if you have a chronic disease, your condition must be stable for 3, 6 or 12 months based on your age, or on certain cards, your conditions may even be excluded.

Trip cancellation or trip interruption: When you have saved up for a 3-week golf trip in Europe, it is disappointing that your protection for trip cancellation could limit you to a smaller amount than the actual worth of the trip. For example, for some Gold cards, trip cancellation and interruption limits you to a maximum of $2,500.

Luggage: Imagine a long stay, an expedition to Peru or Alaska, or simply a 3-month stay in Florida...it takes a lot of luggage! Probably for more than $500 worth...this may also be the maximum reimbursement you are allowed to for theft, damage or delay. How much is your golf bag worth?

Remember that credit cards are a method of payment first and foremost. They are not targeted for particular individuals and are therefore restrictive, both in terms of coverage and eligibility criteria.

With individual travel insurance coverage, you will not be caught off guard in situations where you need appropriate coverage the most. It only costs a few dollars a day and choosing a complete medical coverage and the proper coverage amounts will provide you with peace of mind...priceless.

Contact SecuriGlobe immediately for more information!