Travel Snag? Your Credit Card Could Help
Booking a trip with the right credit card can save you thousands.
If you run into travel problems, get sick or have an accident while you’re on vacation this summer, look up your credit card’s benefits. Its perks may include travel insurance for certain incidents on trips that you book with the card.
Such insurance often comes in three varieties, says Joe Resendiz, research analyst for ValuePenguin, a website that reviews financial products. One is travel accident insurance, which provides reimbursement if you or someone in your party dies or is dismembered on a trip. Another is trip cancellation, interruption or delay coverage, which may refund your airfare or hotel expenses if you miss a trip because of illness or severe weather, or reimburse you for lodging and meal expenses if your flight is delayed. Finally, your card may come with insurance for lost, damaged or delayed luggage.
Before you travel, dig into the details of your card’s benefits. The insurance may, for example, cover only travel companions who are immediate family members. If you return early from a trip because of illness without the direction of a medical professional, you may not be covered.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Chase Sapphire Preferred ($95 annual fee, waived the first year) and Chase Sapphire Reserve ($450 annual fee) have some of the best benefits. Both offer up to $10,000 per trip in cancellation and interruption insurance, reimbursement of up to $500 for expenses related to a delayed trip, up to $3,000 per passenger for lost luggage, and up to $100 a day for five days for essentials in delayed baggage. Plus, Reserve provides up to $1 million in travel accident insurance ($500,000 with Preferred), up to $100,000 in evacuation coverage for injury or illness, and up to $2,500 for emergency medical or dental expenses.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Lisa has been the editor of Kiplinger Personal Finance since June 2023. Previously, she spent more than a decade reporting and writing for the magazine on a variety of topics, including credit, banking and retirement. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.
-
Average Net Worth by Age: How Do You Measure Up?
Financial advisors discuss the secrets to growing your net worth over time.
By Adam Shell Published
-
Three Charitable Giving Strategies for High-Net-Worth Individuals
If you have $1 million or more saved for retirement, these charitable giving strategies can help you give efficiently and save on taxes.
By Joe F. Schmitz Jr., CFP®, ChFC® Published
-
Roth IRA Contribution Limits for 2024 and 2025
Roth IRAs Roth IRA contribution limits have gone up. Here's what you need to know.
By Jackie Stewart Last updated
-
Four Tips for Renting Out Your Home on Airbnb
real estate Here's what you should know before listing your home on Airbnb.
By Miriam Cross Published
-
Five Ways to a Cheap Last-Minute Vacation
Travel It is possible to pull off a cheap last-minute vacation. Here are some tips to make it happen.
By Vaishali Varu Last updated
-
How to Figure Out How Much Life Insurance You Need
insurance Instead of relying on rules of thumb, you’re better off taking a systematic approach to figuring your life insurance needs.
By Kimberly Lankford Last updated
-
Amazon Big Deal Days Is Coming! We’ve Got All the Details
Amazon Prime To kick off the holiday season with a bang, Amazon Big Deal Days runs Tuesday, October 8 and Wednesday, October 9.
By Bob Niedt Last updated
-
How to Shop for Life Insurance in 3 Easy Steps
insurance Shopping for life insurance? You may be able to estimate how much you need online, but that's just the start of your search.
By Kaitlin Pitsker Published
-
Five Ways to Shop for a Low Mortgage Rate
Becoming a Homeowner Mortgage rates are high this year, but you can still find an affordable loan with these tips.
By Daniel Bortz Last updated
-
Retirees, It's Not Too Late to Buy Life Insurance
life insurance Improvements in underwriting have made it easier to qualify for life insurance, which can be a useful estate-planning tool.
By David Rodeck Published