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Compare credit cards with complimentary insurance

Save on holiday costs and travel with peace of mind when you have a credit card with complimentary insurance.

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Complimentary insurance is a popular credit card feature that can cover you when you travel overseas and make purchases with your card. If you're already using your credit card, it's an easy way to save time and money organising separate insurance. However, while complimentary credit card insurance can save you buying cover upfront, there are eligibility requirements to meet before you're protected.

Use this guide to compare credit cards that offer complimentary insurance, the different types of complimentary insurance offered by credit cards and what you need to do to get cover and how to make a claim. We also outline what you need to consider when comparing complimentary insurance credit cards so that you can choose an option that suits your needs.

American Express Credit Card Offer

Qantas American Express Ultimate Card

Receive 100,000 bonus
Qantas Points

Offer ends 14 April 2020

Eligibility criteria, terms and conditions, fees and charges apply

American Express Credit Card Offer

The Qantas American Express Ultimate Card offers 100,000 bonus Qantas Points, complimentary travel benefits and up to 2.25 Qantas Points per $1 spent on eligible purchases.

  • Get 100,000 bonus Qantas Points when you apply online, are approved by 14 April 2020 and spend $3,000 on eligible purchases in the first 3 months
  • $450 annual fee and 20.74% p.a. purchase interest rate
  • Receive a $450 Qantas Travel Credit each year
  • 4 yearly complimentary airport lounge passes: 2 Qantas Club and 2 Amex Lounge
  • Minimum income requirement of $65,000 p.a.
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Comparison of credit cards with complimentary insurance

Updated April 5th, 2020
Name Product Bonus Points Rewards program Rewards Points per $ spent Purchase rate (p.a.) Annual fee
Qantas American Express Ultimate Card
100,000 bonus points
Qantas Frequent Flyer
Amex
1.25
20.74% p.a.
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations. Ends 14 Apr 2020.
American Express Velocity Platinum Card
50,000 bonus points
Velocity Frequent Flyer
Amex
1.25
20.74% p.a.
$375 p.a.
Get 50,000 bonus Velocity Points when you spend $3,000 for the first 3 months. Plus, 100 Status Credits and luxury travel perks.
Macquarie Platinum Card
20,000 bonus points
Macquarie Credit Card Rewards Program
Visa/MC
1.25
20.7% p.a.
$99 p.a.
Earn 20,000 bonus points and receive a 0% p.a. balance transfer offer for 14 months.
Bank of Melbourne Amplify Platinum - Qantas
60,000 bonus points
Qantas Frequent Flyer
Visa/MC
0.5
19.74% p.a.
$99 p.a.
Receive 60,000 bonus Qantas Points when you spend $2,000 within 90 days and earn up to 0.5 Qantas Points per $1 spent.
NAB Rewards Signature Card
120,000 bonus points
NAB Rewards
Visa/MC
1.25
19.99% p.a.
$295 p.a.
Earn up to 120,000 bonus NAB Rewards Points when you meet the spend criteria. Plus, a points booster and uncapped rewards earning potential.
Bankwest More World Mastercard
115,000 bonus points
Bankwest More Rewards Program
Visa/MC
2.5
19.99% p.a.
$270 p.a.
Receive two complimentary airport lounge visits per year through Priority Pass and pay no foreign transaction fees on purchases.
Westpac Altitude Black - Qantas
120,000 bonus points
Qantas Frequent Flyer
Visa/MC
0.75
20.49% p.a.
$300 p.a.
Earn up to 120,000 bonus Qantas Points when you meet the spend requirement. Plus, 2 yearly Qantas Club lounge invitations.
ANZ Platinum Credit Card
20.24% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
American Express Business Explorer Credit Card - Online Offer
100,000 bonus points
Membership Rewards Gateway
Amex
2
16.99% p.a.
$0 p.a. annual fee for the first year ($395 p.a. thereafter)
ABN holders w/ $75,000 revenue. Get 100,000 bonus points and a $0 annual fee for the first year. Plus, complimentary insurance and lounge passes.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
Qantas Frequent Flyer
Suncorp Bank Rewards Program
Visa/MC
1.25
20.74% p.a.
$49 p.a. annual fee for the first year ($129 p.a. thereafter)
Finder Exclusive ends 30 September 2019:
Save with a 0% balance transfer offer and a $49 first year annual fee when you apply online.
BankSA Amplify Platinum
Amplify Rewards
Visa/MC
1
19.74% p.a.
$99 p.a.
Get $400 e-gift card when you spend $3,000 on eligible purchases within the first 90 days. Plus, complimentary travel insurance.
Woolworths Qantas Platinum Credit Card
Qantas Frequent Flyer
Visa/MC
1
20.49% p.a.
$99 p.a. annual fee for the first year ($169 p.a. thereafter)
Enjoy a 0% p.a. balance transfer offer for 14 months and a discounted $99 first year annual fee. Plus, complimentary overseas travel insurance.
Westpac BusinessChoice Rewards Platinum Mastercard
120,000 bonus points
Qantas Business Rewards
Visa/MC
0.5
20.24% p.a.
$150 p.a.
Earn 120,000 bonus points, up to 0.5 Qantas Points per $1 spent on eligible purchases. Plus, receive up to 55 days interest-free on purchases.
HSBC Platinum Credit Card - Balance Transfer Offer
HSBC Rewards Plus
Visa/MC
1
19.99% p.a.
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Qantas Premier Platinum
100,000 bonus points
Qantas Frequent Flyer
Visa/MC
1
19.99% p.a.
$299 p.a.
Get up to 100,000 bonus Qantas Points, a 0% p.a. balance transfer rate for the first 18 months and complimentary lounge passes.
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You can usually find complimentary insurance on gold, platinum and black credit cards. These cards often include a range of extra perks that standard products miss, so they may have higher annual fees to reflect that. However, the savings you'll receive from your complimentary insurance could potentially outweigh the cost of the card, which is good to consider when comparing your options.

Types of credit card complimentary insurance

Depending on the credit card, you could get complimentary cover for any or all of the following:

  • Overseas travel insurance. This type of insurance offers comprehensive cover for trips overseas, usually including emergency medical and dental costs, loss or theft of personal belongings and trip cancellation. The potential savings and convenience of complimentary overseas travel insurance makes it one of the most popular options for cardholders, but policies can vary significantly between providers.
  • Transit accident insurance. Another form of travel insurance, this complimentary credit card cover is often advertised separately to overseas travel insurance. It insures you against accidents that may result in bodily harm or death when you are travelling on licensed buses, trains or flights.
  • Interstate flight inconvenience insurance. This domestic travel insurance offers cover for flight changes or delays when you’re travelling between states or territories in Australia.
  • Purchase protection insurance. Offered on both premium and mid-level credit cards, purchase protection insurance can cover the cost of theft, accidental damage or loss of items paid for with an eligible card. Usually, this insurance is valid for up to 90 days from the time of the purchase.
  • Extended warranty insurance. This cover offers an extension on the manufacturer’s warrant for eligible items purchased in Australia. Usually, this insurance will double the warranty, up to a maximum period of 12 months. For example, if you bought an item with a one-year manufacturer’s warranty, this cover would allow you to get insurance for a total of 24 months.
  • Best price guarantee cover. Also known as a “buyer’s guarantee”, this insurance will refund the difference in price if you buy an item and then find it at a lower cost somewhere else (in the same geographic area). Usually, you have 21 days from the time of the purchase to submit a claim and will have to provide proof of the lower price.

young woman with short hair is holding up a white credit card

Are you eligible for complimentary credit card insurance?

The eligibility requirements for complimentary credit card insurance vary depending on the specific policy, the provider and the insurance company that’s involved in underwriting it. You can find specific details in the provider’s Credit Card Insurance Booklet. But in general, the most common conditions include:

  • Spending requirements. Whether it’s travel insurance or purchase coverage, you usually have to pay with your credit card to be eligible. For example, if you want overseas travel insurance, you may be required to pay for some or all of your return ticket with your credit card before you leave. Similarly, if it’s purchase cover, you’ll have to buy the relevant item with your card.
  • Policy activation. In some cases, you may also have to “activate” the included insurance to be eligible for cover. For example, with CommBank credit cards that include travel insurance, there is no spending requirement. Instead, you need to log on to NetBank and activate the policy before you leave to get full coverage.
  • Age requirements. This typically relates to travel insurance, where people over a certain age (eg 80) may not be eligible for cover.
  • Pre-existing medical conditions. Similar to most standalone travel insurance policies, pre-existing medical conditions usually aren’t covered by complimentary overseas credit card insurance. However, depending on the insurer, you may be able to get approval for coverage with a pre-existing medical condition through an extra application. Fees usually apply for these requests, and not all credit card insurance allows it, so check the insurance policy booklet to see if this is possible for any card you’re considering.
  • Partners and/or dependant children. Usually complimentary travel insurance will cover your spouse and/or dependant children that are travelling with you and meet the eligibility requirements.

Does complimentary credit card travel insurance cover my spouse or child?

How to make an insurance claim

The claim process for complimentary credit card insurance products varies depending on the provider and the insurance company that has underwritten the policy. In general, you’ll need to submit your claim directly to the insurance provider over the phone, online or by completing and posting a claim form.

As with standalone insurance policies, claims must be made as soon as possible after the incident and within the specified timeframe to be eligible for cover. You may also be asked to submit supporting documentation for your claim, including:

  • Your credit card statement showing the relevant purchase/s required to activate the policy (ie a travel ticket)
  • A copy of a police report, if you’re claiming for lost or stolen items
  • Proof of ownership for lost, stolen or damaged items
  • Flight itineraries and letters from carriers detailing delayed flights or unexpected events

Policy details to check before applying for complimentary credit card insurance

If you’re interested in taking advantage of complimentary credit card insurance, make sure you consider the following policy details:

  • Eligibility requirements. Review the details of what you need to do to get cover and consider whether or not you will be eligible based on your circumstances. For example, if you’ve already paid for a trip overseas and then get a credit card that offers complimentary insurance, you may not be eligible for that particular trip.
  • Cover limits. All complimentary insurance policies limit the amount of money available for specific claims. For example, a purchase protection policy may limit cover to $3,000 per claim. Consider the type of cover you want and your plans to decide if these limits will suit your needs.
  • Excess costs. If you make a claim against a complimentary credit card insurance policy, you may have to pay a specified amount before you get any money back. For example, if you submit a claim for emergency overseas medical costs, you may have to pay $500 (once approved) for the claim to be processed. This is known as the excess and is most common with travel insurance (both overseas and domestic).
  • Cover period. Complimentary credit card insurance policies offer cover for a limited amount of time. For travel insurance, this could be anywhere from a few weeks to 12 months, and for purchase covers it could be 2 weeks to 3 months. It’s important to consider this cover period before you choose a credit card (or use the insurance) so that you know the cover will work for you.
  • Exclusions. As well as looking at what cover is provided, make sure you’re aware of what won’t be covered by a complimentary credit card insurance policy.
  • Claim period. There is a limited timeframe for you to submit a claim for complimentary insurance cover. For example, with a “best price guarantee”, you may only be able to make a claim within 21 days of the original purchase, and with overseas travel insurance you may only have 30 days from the time of the incident to submit a claim. Ideally, you should always aim to submit a claim as soon as possible, or at least contact the insurer to advise them of your situation.

How to compare credit cards with complimentary insurance

If you want a credit card that offers complimentary insurance, make sure you also look at the following features.

  • Interest rates. With most complimentary insurance policies requiring you to spend money on your card, it’s important to consider the interest rates that could apply to ensure that it’s affordable to use the card for insurance.
  • Annual fee. Credit cards that offer complimentary insurance often have higher annual fees than more basic products. While the insurance can help offset this cost, it’s only really worth it if you can actually make use of the complimentary cover available. In other words, paying a high annual fee for a credit card with overseas insurance usually won’t be worth it if you rarely travel.
  • Foreign currency fee. Most credit cards apply a fee of 2–4% for transactions made in a foreign currency. This charge is particularly important to consider for credit cards that offer overseas travel insurance.

Complimentary credit card insurance is a popular feature many people look for, but it’s important to understand the conditions and requirements surrounding these policies so that you can use them to your advantage. Remember to read the complimentary insurance policy booklet for specific cards before you apply, and compare a range of options so that you can choose a credit card that offers value based on your circumstances and needs.

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5 Responses

  1. Default Gravatar
    BruceFebruary 3, 2018

    I currently have Westpac Altitude Black CC that has a Black Altitude companion American Express Card as well as an American Express Platinum Edge CC
    I would like to know what would be a single card that gives you similar benefits for less currently 295 + 195 = 490 the benefits I consider important are airport lounge access more than the 2 per year and travel insurance and other benefits

    • Avatarfinder Customer Care
      JonathanFebruary 26, 2018Staff

      Hi Bruce, thanks for your inquiry!

      That is an excellent question.

      Credit cards that fit your criteria of less than $490 annual fee, more than two airport lounge access passes and complimentary travel insurance include:

      The ANZ Rewards Black Credit Card. This card has an annual fee promotion, which means you pay $0 for the first year. After the first year this card only costs $375 a year.

      This card also offers unlimited access to participating VĂ©loce airport lounges outside of Australia for you and your additional cardholders.

      In addition, you can also look forward to complimentary travel insurance. Cardholders can take advantage of overseas travel and medical insurance, interstate flight inconvenience insurance and rental excess cover. Plus, shop with peace of mind thanks to extended warranty insurance, a best price guarantee scheme and 90-day purchase security insurance.

      I hope this helps.

      Best,

      Jonathan

  2. Default Gravatar
    RussellSeptember 16, 2017

    We paid for our flights with Myer gold Visa card to and from Bali. There now are warnings about a volcano erupting. Does our insurance on Myer card cover us for new flights is cancelled and accommodate. Please advise ASAP

  3. Default Gravatar
    RussellSeptember 16, 2017

    If we made payment for overseas flights by Myer Visa card do we have travel insurance to cover accommodation and flights if our set flights are canceled due to a volcano erupting in Bali?

    • Default Gravatar
      LiezlSeptember 16, 2017

      Hi Russell,

      Thanks for reaching out. Myer Visa card does not have a complimentary travel insurance. You may refer to our review page for this card for more information. Better still, contact Myer to ascertain this.

      Generally, if the travel insurance was taken out before the volcano eruption, this would cover for claims such as additional hotel accommodation and transport expenses that are the result of a natural disaster. However, if the policy was taken once an event has happened these won’t be covered by travel insurance. On this page, you’ll find a list of travel insurance that covers natural disasters.

      Cheers,
      Liezl

Credit Cards Comparison

Updated April 5th, 2020
Name Product Purchase rate (p.a.) Balance transfer rate Annual fee
Coles No Annual Fee Mastercard
19.99% p.a.
0% p.a. for 18 months with 1.5% balance transfer fee
$0 p.a.
Earn flybuys points for your spending and save with an ongoing $0 annual fee and 0% p.a. on balance transfers for 18 months.
Qantas American Express Ultimate Card
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$450 p.a.
Get 100,000 bonus Qantas Points, a $450 Qantas Travel Credit and 2 yearly complimentary Qantas Club lounge invitations. Ends 14 Apr 2020.
HSBC Platinum Credit Card - Balance Transfer Offer
19.99% p.a.
0% p.a. for 22 months
$129 p.a.
Enjoy a balance transfer offer, yearly annual fee refund, airport lounge passes and complimentary insurance covers.
Bendigo Bank Low Rate Mastercard
11.99% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$45 p.a.
A no-frills credit card with a competitive annual fee and 0% p.a. interest rate on balance transfers for the first 18 months.
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* The credit card offers compared on this page are chosen from a range of credit cards finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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