Compare credit cards with complimentary insurance

How to save on holiday costs and travel with peace of mind with a credit card with complimentary insurance.

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. While complimentary credit card insurance can save you money on 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 then comparing complimentary insurance credit cards so that you can choose an option that suits your needs.

Compare credit cards with complimentary travel insurance

Rates last updated August 20th, 2017
Name Product Bonus Points Rewards Points per $ spent (VISA/MC) Rewards Points per $ spent (AMEX) Purchase rate (p.a.) Annual fee Product Description
St.George Vertigo Platinum
0
0
12.74% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 20 months on balance transfers offer with no balance transfer fee.
HSBC Platinum Credit Card
1
0
19.99% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 22 months on balance transfers offer with a 2% balance transfer fee.
HSBC Platinum Qantas Credit Card
60,000 bonus points
1
0
19.99% p.a.
$199 p.a.
Enjoy complimentary membership to the Qantas Frequent Flyer program and the ability to pay with Apple Pay.
ANZ Platinum Credit Card - Exclusive Offer
0
0
0% p.a. for 3 months (reverts to 19.74% p.a.)
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months.
NAB Premium Card - Exclusive Offer
0
0
19.74% p.a.
$90 p.a.
Exclusive to finder.com.au, enjoy a no BT fee, long-term balance transfer offer with platinum privileges, including travel insurance.
ANZ Frequent Flyer Black
75,000 bonus points
1
19.99% p.a.
$0 p.a. annual fee for the first year ($425 p.a. thereafter)
Earn 75 Bonus Status Credits when you apply by 30 September 2017, buy and fly return with Qantas by 31 January 2018.
ANZ Low Rate Platinum
11.49% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 16 months on balance transfers offer with a 2% p.a. balance transfer fee.
ANZ Frequent Flyer Platinum
50,000 bonus points
0.75
19.99% p.a.
$0 p.a. annual fee for the first year ($295 p.a. thereafter)
Enjoy complimentary membership to the Qantas Frequent Flyer program and access to a 24/7 concierge service.
American Express Explorer® Credit Card
100,000 bonus points
2
20.74% p.a.
$395 p.a.
Receive a $400 Travel Credit every year and up to two entries per year to the American Express Lounge at Sydney International Airport.
Bank of Melbourne Vertigo Platinum
0
0
12.74% p.a.
$99 p.a.
Take advantage of a 0% p.a. for 20 months on balance transfers offer with no balance transfer fee.
ANZ Rewards Travel Adventures card
40,000 bonus points
1.5
20.24% p.a.
$225 p.a.
No overseas transaction fee on purchases, plus a complimentary domestic return flight each year when you meet the eligibility criteria.
ANZ Rewards Black Credit Card
75,000 bonus points
2
18.79% p.a.
$0 p.a. annual fee for the first year ($375 p.a. thereafter)
Up to 55 days interest-free on purchases and unlimited access to participating Véloce airport lounges outside of Australia.
American Express Platinum Business Card
120,000 bonus points
0
1
$1,500 p.a.
Provides easy tracking and management of business expenses with reporting that meets ATO requirements.
Qantas American Express Premium Card
30,000 bonus points
1.25
20.74% p.a.
$249 p.a.
Take advantage of 30,000 bonus Qantas Points when you meet the minimum spend criteria and a 0% p.a. introductory rate on balance transfers.
American Express Platinum Edge Credit Card
1
20.74% p.a.
$195 p.a.
Receive a $200 travel credit each year and a balance transfer offer of 0% p.a. for 12 months.
NAB Velocity Rewards Premium Card
0.5
1
19.99% p.a.
$150 p.a.
Offers up to 1 Velocity point per $1 on purchases, combined with complimentary insurance covers and a concierge service.
American Express Velocity Platinum Card
50,000 bonus points
0
1.5
20.74% p.a.
$375 p.a.
Receive a complimentary domestic return flight with Virgin Australia and two single entry passes to Virgin Australia lounges every year.
Bank of Melbourne Amplify Platinum
40,000 bonus points
1
0
19.49% p.a.
$99 p.a.
Choose between Amplify Rewards or Amplify Qantas programs and receive up to 55 days interest-free on purchases.
NAB Rewards Signature Card
75,000 bonus points
1.25
19.99% p.a.
$295 p.a.
Receive 75,000 Bonus Points when you spend $4,000 on everyday purchases in the first 60 days of account opening.
Bank of Melbourne Amplify Signature
60,000 bonus points
1.5
0
19.49% p.a.
$279 p.a.
Choose to switch between Amplify Rewards or Amplify Qantas programs and earn uncapped reward points.
American Express Platinum Card
100,000 bonus points
1
$1,200 p.a.
Receive a $300 Platinum Travel Credit each year, access to over 1,000 VIP lounges worldwide and Platinum Fare Guarantee.
Citi Qantas Signature Credit Card
50,000 bonus points
0.5
20.99% p.a.
$199 p.a. annual fee for the first year ($395 p.a. thereafter)
Earn from 0.5 Qantas Points per $1 spent on selected purchases and get a 2 airport lounge visits per year.
Bankwest Qantas World Mastercard
0.66
0
20.49% p.a.
$270 p.a.
Earn uncapped Qantas Points per $1 spent on eligible purchases. Also enjoy no foreign transaction fees on online and overseas spend.
Virgin Australia Velocity High Flyer Card - 80k Bonus Points offer
80,000 bonus points
1
20.74% p.a.
$289 p.a.
Receive a $129 Virgin Australia Gift Voucher and two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
NAB Qantas Rewards Premium Card
50,000 bonus points
0.5
1
19.99% p.a.
$250 p.a.
Customers can get comprehensive complimentary insurance through this card and a low balance transfer rate for the first 6 months.
NAB flybuys Rewards Card
1
19.99% p.a.
$95 p.a.
Earn 1 flybuys point per $1 spent on everyday purchases and receive 7 complimentary insurance covers.
Suncorp Clear Options Platinum Credit Card - Exclusive Offer
1.25
20.74% p.a.
$99 p.a. annual fee for the first year ($129 p.a. thereafter)
Exclusive to finder, receive a long-term, no fee balance transfer and earn up to 1.25 Suncorp Rewards Points per $1 spent.
St.George Amplify Platinum
40,000 bonus points
1
0
19.49% p.a.
$99 p.a.
Earn uncapped rewards points, receive up to up to 55 days interest-free on purchases and complimentary additional cards.
St.George Amplify Signature
60,000 bonus points
1.5
19.49% p.a.
$279 p.a.
Receive two complimentary airport lounge passes per year, Birthday Bonus perks and access to a 24/7 concierge service.
BankSA Vertigo Platinum
0
0
12.74% p.a.
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Take advantage of a 0% p.a. for 18 months on balance transfers offer with no balance transfer fee.
Citi Rewards Platinum Credit Card
1
0
20.99% p.a.
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Featuring a 0% p.a. for 24 months on balance transfers offer with a 1.5% BT fee and membership to the Citi Rewards Program.
ANZ Platinum Credit Card
0
0
19.74% p.a.
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Featuring a 0% p.a. for 16 months on balance transfers offer with a 2% p.a. balance transfer fee.
NAB Rewards Platinum Card
50,000 bonus points
1
19.99% p.a.
$195 p.a.
Earn double reward points when the minimum required spend is met and enjoy 0% p.a. on balance transfers for 6 months.
American Express Business Explorer® Credit Card
100,000 bonus points
2
16.99% p.a.
$395 p.a.
Earn 100,000 bonus points when you meet the requirement and 2 Membership Rewards points per $1 spent.
28 Degrees Platinum Mastercard
21.99% p.a.
$0 p.a.
Designed for travel, benefit from no international transaction fees on purchases and no currency conversion fees.

Compare up to 4 providers

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 potential 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.

credit card insurance

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 (e.g. 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 dependent children. Usually complimentary travel insurance will cover your spouse and/or dependent 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 (i.e. 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 between 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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