5 things to check before using your credit card for travel insurance

Although cloudy weather hasn’t yet fully cleared, Ontarians are no doubt already planning their vacation getaways. And with the post-secondary semester about to end, many families will have more time to reunite and go on that trip they’ve always wanted. If this sounds like you, here are some tips from The Shepherd Group to make the most of your vacation.

With travel comes travel insurance and many people will look to their credit cards for travel insurance. But before relying on your card to protect you while travelling, check the following to ensure your card actually protects you.

1. The number of trip days. Some credit cards offer coverage condition on the cardholder’s trip being a certain length otherwise the coverage is null.

2. Lost or stolen baggage. Not all credit cards cover lost belongings under their travel policies, while some cover only theft or damages.

3. Activation. Some credit card travel policies are inactive until you call your bank to activate it.

4. Pre-existing medical conditions. Most credit card travel insurance do not cover such conditions.

5. Limits to coverage. Many credit cards have very low coverage limits with various restrictions. For example, coverage may apply for a limited time period, or be available only to a certain age. Moreover, credit card insurance covers only the card holder.

What arrangements have you made for your travel insurance? Comment below or tweet us @TheShepherdGroup