You may have noticed that credit cards are no longer just a strip of plastic with which one can obtain credit from a bank. There are now so many other benefits to using them too and travel insurance is amongst these. However, what level of cover will you be given by such schemes and is it as good as travel insurance from a specialised firm?
The answer to this is a resounding no: These firms will entice you in since you will only really read the words travel insurance and merrily believe that you’re covered. This is not a wise ploy and I would implore you to read the small print in fine detail.
The level of cover provided by credit card firms is actually quite poor. Whilst there are a few exceptions, you cannot expect to get your travel insurance for nothing by just taking out a credit card. More often than not, this type of insurance will only cover one aspect of the holiday such as cancellation. This will be of little reassurance if you require medial attention on your travels and thus a nasty surprise may await you in the form of no compensation.
If you want to be fully covered then you really ought to source your insurance coverage from a recognised insurer. This will give you more control over what you are buying cover for and the whole process will be much more transparent. By doing this, you will avoid any nasty shocks upon returning should you need to make a claim.
Cheap travel insurance often gets purchased or offered with other products such as credit cards. Firms only get away with this since there are very few people who apply all due diligence to such a transaction. Many of us read the big print and assume that’s the end of it without taking a dip into the smaller print. Make sure that you are the one that’s fully covered and use an honest travel insurance firm – don’t accept such an important policy as a freebie.
