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Frequent Flyer Credit Cards with Travel Insurance
Earn points as you spend and travel with peace of mind with a frequent flyer credit card that gives you complimentary travel insurance.
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If you’re planning an overseas trip, you could earn points as you spend and save on travel costs with a frequent flyer credit card that offers complimentary international travel insurance. As the points potential and inclusions of the travel insurance will vary, it’s important to compare your options before you apply for one of these cards.
You can use this guide to compare credit cards linked with Qantas Frequent Flyer, Velocity Frequent Flyer and credit card rewards programs that also come with complimentary travel insurance.
Compare frequent flyer credit cards with complimentary travel insurance
What is covered by my complimentary travel insurance policy?
The specific details will vary between policies and you’ll need to confirm exactly what you’re eligible for, but complimentary international travel insurance cover usually includes the following:
- Emergency medical expenses when you’re travelling overseas
- Loss, theft and damage cover for luggage and personal belongings
- Compensation for unavoidable trip cancellation or missed connections
- Travel inconvenience compensation for delayed flights
- Car rental insurance excess waiver
- Personal liability while travelling
- Accidental death, permanent disability and loss of income
The length of this cover will vary between policies, but can sometimes cover up to three to six months of travel. This cover usually applies to the cardholder as well as to the cardholder’s spouse or dependent children when they’re travelling with the account holder. Your spouse or children will also need to meet the eligibility requirements to make an insurance claim.
How to access your complimentary travel insurance
You might have to meet a spend requirement to activate your insurance policy. For example, you may be required to spend at least $500 on prepaid travel costs (such as flights, accommodation or tour bookings). Meanwhile, other card issuers may require you to activate your offer via the mobile banking app to access the insurance. You can check your card’s complimentary travel insurance policy for the exact steps you’ll need to take to access the cover.
Like standalone travel insurance policies, you’ll need to meet eligibility requirements to access complimentary insurance. For example, these policies don’t always cover cardholders who are more than 79 years of age or who have pre-existing medical conditions. You can find the details of the policies and the individual eligibility requirements on the bank website.
How to compare frequent flyer credit cards with complimentary travel insurance
When you’re comparing cards that earn points and offer complimentary travel insurance, you should consider the following factors:
- Bonus points. Many frequent flyer cards offer new cardholders thousands of bonus points on sign up. You usually need to spend a certain amount to get the bonus points, but they can help boost your rewards balance and allow you to redeem your goal reward faster
- Earn rates. You should also compare cards by how many points you’ll earn per $1 spent. The earn rates will vary between cards and different eligible purchases, but 1 point per $1 spent is a relatively competitive rate.
- Policy details. Compare the inclusions, exclusions and eligibility requirements of the complimentary insurance policy before you sign up. You should also research the claim process in case you need to contact your insurer while you’re overseas
- Annual fees. Although some offer reduced or $0 annual fees, these cards usually charge high annual fees. Make sure that the value of the rewards, complimentary insurance and other extras offset this cost to justify getting the card.
- Purchase interest rates. These cards usually charge high purchase interest rates. While you should aim to pay off your balance in full each statement to avoid interest, you should still consider the interest rates you’ll collect on your purchases.
A frequent flyer credit card with complimentary travel insurance could be a great way to earn points as you spend and travel with peace of mind. However, as the insurance policies will vary between products, it’s important to compare your options to ensure the cover suits your needs.
Images: Shutterstock
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Ask an Expert
Hi I am a frequent flyer card holder dark blue card, I want to take out travel insurance and want a quote please zzz how do I get this. Regards casi
Hi Casi,
Thanks for your inquiry
Cards with Complimentary travel insurance will usually require you to meet eligibility criteria to qualify for the cover. These requirements may vary between frequent flyer cards. To know the criteria you need to meet and to make sure you qualify for a cover, it would be best to check directly with the card issuer.
Hope this information helps
Cheers,
Arnold
does my ANZ platinum card give me travel insurance overseas when I purchase the travel?
Hi Mike,
Thanks for your question.
Yes the ANZ Platinum card offer travel insurance. Please see this page for eligibility requirements.
Cheers,
Shirley
With the HSBC Credit Card it says you ‘might’ receive 20,000 reward points. What are the eligible requirements to receiving the 20,000 award points?
Hi Margaret,
Thanks for your question – the bonus 20,000 points comes when you make an eligible purchase within 3 months of applying.
Cheers
Matt