transit-accident-feature

Credit Cards with Transit Accident Insurance

Information verified correct on April 30th, 2017

Want protection against accidents on your next trip? Compare credit cards with transit accident insurance.

Unforeseen accidents and setbacks can make or break a good holiday. Be prepared and organising a credit card that comes such complimentary insurance, such as transit accident insurance, could help save you from unwanted hassle if you do find yourself confronted with an emergency situation while on holiday.

To find a card with transit accident insurance, use the resources provided on this article to form your own informed decision and discover the options that most suit your financial needs.


What is Transit Accident Insurance?

Credit card transit accident insurance protects cardholders against accidents that may result in bodily harm or death when travelling in licensed buses, trains or planes.

Credit cards with transit accident insurance usually cover the cardholder or their family in the case of injury or death, provided the person paid for the transit using the relevant credit card. As the name implies, the transit card insurance generally only covers travellers for accidents that occur inside a transit vessel or while you are boarding or alighting.

This type of card is suitable for frequent travellers or have to fork out for this type of insurance regularly. A credit card with this type of protection can save you money while providing peace of mind.


Comparison of cards with Transit Accident Insurance

Rates last updated April 30th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first three months. Plus, save with a long-term balance transfer offer and a reduced annual fee in the first year.
20.74% p.a. 0% p.a. for 18 months with 1.5% balance transfer fee $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Qantas Credit Card
Receive 60,000 bonus Qantas Points on eligible spend within 3 months. Enjoy access to premium benefits and complimentary insurance.
19.99% p.a. $199 p.a. Go to site More info
St.George Amplify Signature
Receive 30,000 sign-up bonus points with low introductory interest rates on purchases and balance transfers.
0% p.a. for 6 months (reverts to 19.49% p.a.) 0% p.a. for 12 months $279 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Receive 0% p.a. for 12 months on purchases, 0% p.a. for 6 months on balance transfers and an exclusive $129 Virgin Australia Gift Voucher each year.
0% p.a. for 12 months (reverts to 20.74% p.a.) 0% p.a. for 6 months $129 p.a. Go to site More info
Virgin Australia Velocity High Flyer Card - 30k Bonus Points offer
Receive up to 30,000 bonus Velocity Points and earn 1 Velocity Points per $1 spent. Receive an exclusive $129 Virgin Australia Gift Voucher and two complimentary Single Entry Virgin Australia domestic Lounge passes each year.
20.74% p.a. 1.9% p.a. for 15 months $144 p.a. annual fee for the first year ($289 p.a. thereafter) Go to site More info
Emirates Citi World Mastercard
Receive up to 50,000 bonus points and enjoy a reduced annual fee for the first year.
20.99% p.a. 0% p.a. for 9 months $149 p.a. annual fee for the first year ($299 p.a. thereafter) Go to site More info
Qantas American Express Ultimate Card
Enjoy 75,000 bonus Qantas Points when you meet the spend criteria plus 75 Bonus Status Credits when you book and fly back with Qantas. Earn up to 2.5 Qantas Points per $1 spent on eligible purchases.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $450 p.a. Go to site More info
American Express Platinum Business Card
Receive 100,000 bonus points when you meet the minimum spend requirement and earn up to 2 Membership Rewards points for every dollar spent.
$1,500 p.a. Go to site More info
American Express Platinum Card
Receive 100,000 Membership Rewards Bonus Points when you meet the minimum spend requirement and earn up to 3 points per $1 spent. Gain access to travel insurance, $300 Platinum travel credit every year and access to 1,000 VIP airport lounges.
$1,200 p.a. Go to site More info
American Express Gold Business Card
Enjoy 24-hour worldwide service plus a great range of tailored expense management solutions designed to help maintain control of your corporate expenses.
$169 p.a. Go to site More info
Qantas American Express Premium Card
Earn 60,000 bonus Qantas Points when you apply as a new card member and meet the minimum spend requirement. Plus enjoy frequent flyer benefits including uncapped Qantas Points per $1 spent, complimentary travel insurance and Qantas Club lounge invitations.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $249 p.a. Go to site More info
Bankwest Qantas World MasterCard
Earn uncapped Qantas Points per $1 spent on eligible purchases. Also enjoy no foreign transaction fees on online and overseas spend.
20.49% p.a. 2.99% p.a. for 9 months $270 p.a. Go to site More info
Bank of Melbourne Amplify Signature
Receive 30,000 bonus points when you meet the minimum spend. Also enjoy low introductory offers on purchases and balance transfers.
0% p.a. for 6 months (reverts to 19.49% p.a.) 0% p.a. for 12 months $279 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 12 months and an introductory purchase offer of 0% p.a. for 6 months.
0% p.a. for 6 months (reverts to 12.74% p.a.) 0% p.a. for 12 months $99 p.a. Go to site More info
St.George Amplify Platinum
This card features a 30,000 bonus points offer and introductory interest rates on balance transfers and purchases.
0% p.a. for 6 months (reverts to 19.49% p.a.) 0% p.a. for 12 months $99 p.a. Go to site More info
BankSA Vertigo Platinum
Enjoy 0% balance transfer rate for 12 months and 0% purchase rate for 6 months if you apply and are approved by 1 May 2017.
0% p.a. for 6 months (reverts to 12.74% p.a.) 0% p.a. for 12 months $99 p.a. Go to site More info
Citi Rewards Platinum Credit Card
Enjoy a reduced annual fee in the first year, 0% p.a. for 24 months balance transfer offer, Citi Reward Points on eligible spend, plus a complimentary travel insurance.
20.99% p.a. 0% p.a. for 24 months with 1.5% balance transfer fee $49 p.a. annual fee for the first year ($149 p.a. thereafter) Go to site More info
Citi Simplicity Card
Take advantage of the 0% p.a. for 15 months offer on balance transfers, a low interest rate on purchases, an annual fee waiver for life, plus 5% cash back on retail purchases.
19.99% p.a. 0% p.a. for 15 months with 1.5% balance transfer fee $0 p.a. Go to site More info
ANZ Platinum Credit Card
Enjoy platinum card benefits with $0 annual fee in the first year and complimentary overseas travel and medical insurance.
19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
NAB Premium Card
Benefit from premium credit card advantages including travel insurance, Platinum Concierge Service plus 0% p.a. for 24 months on balance transfers.
19.74% p.a. 0% p.a. for 24 months with 3% balance transfer fee $90 p.a. Go to site More info
Commonwealth Bank Business Awards Credit Card
Enjoy up to 1.5 Awards points for every dollar spent plus up to 55 days interest-free on purchases.
20.74% p.a. 5.99% p.a. for 5 months $100 p.a. Go to site More info
Commonwealth Bank Business Gold Awards Credit Card
A business credit card with a range of complimentary insurances and up to 2 Awards points per $1 spent on purchases.
20.74% p.a. 5.99% p.a. for 5 months $150 p.a. Go to site More info
Commonwealth Bank Business Interest-Free Days Credit Card
Manage your business expenses with up to 55 interest-free days on purchases and an unsecured credit limit of up to $50,000.
17.57% p.a. 5.99% p.a. for 5 months $60 p.a. Go to site More info
Commonwealth Bank Business Awards Platinum Credit Card
Earn up to 3 Awards points per dollar spent and enjoy a range complimentary insurances.
20.74% p.a. 5.99% p.a. for 5 months $300 p.a. Go to site More info
St.George Vertigo Platinum - Online Only Balance Transfer Offer
Enjoy a long-term balance transfer offer of 3% p.a. for 36 months when you apply online, plus complimentary insurance covers and a personal concierge service.
12.74% p.a. 3% p.a. for 36 months $99 p.a. Go to site More info
NAB Rewards Business Platinum Card
Enjoy 80,000 bonus points when you meet the spend criteria, earn 1 rewards point per $1 spent and enjoy a $0 annual card fee for the first year.
18.50% p.a. $0 p.a. annual fee for the first year ($175 p.a. thereafter) Go to site More info

How does a credit card with transit accident insurance work?

How does the insurance work
For you to benefit from credit cards with transit accident insurance, you must have an eligible card and must pay for the trip you are about to make using the credit card.

It's also important to note this isn't complete travel insurance; you will only be protected while you're travelling on a licensed plane, train, ferry or bus.

Credit card providers will use different insurance providers, so it's ideal to look at the Product Disclosure Statement (PDS) first before making any decisions about which card is better.


Types of credit cards that come with transit accident insurance

Credit cards that offer transit accident insurance are often positioned on the premium side of the spectrum. For example, this cover is often offered through gold (and above) cards, meaning you generally pay more for the privilege of this complimentary insurance policy.

In most cases, if the card has transit accident insurance, it'll also offer complimentary travel insurance and purchase protection, but again check with the card provider first.


How to compare credit cards with transit accident insurance

When searching for a credit card with transit accident insurance, your main aim should be to get the perfect deal out of your card. You can achieve this by considering a number of factors while comparing your credit card options. Some of the features you may want to keep an eye on include:

  • Annual fee. Some platinum and black credit cards have annual fees that amount to a small fortune. However, the perks you receive when using these cards may outweigh the annual fee you pay. You need to carry out some calculations to find out if the perks you'll receive over the year by using the card will equal or outweigh the annual fee you're expected to pay.
  • Cover limit. Check the period the cover will be applicable for and what it covers, as this can change from card to card. This should give you a clue as to which one to pick, based on how you are planning to travel and benefit from the card. The transit accident insurance providers have different cover limits for accidents resulting in death, serious injuries and minor injuries. Also be aware that in some card ranges, you may receive more cover with a platinum cover than with a gold card.
  • Interest rates. You can also compare these credit cards through the interest rates you'll be paying. If you pay your balance in full each month, you may want to compare cards based on the number of interest-free days they offer.
  • Promotions and rewards. Bonus points, balance transfer and purchase rate promotions and discounts on certain products or services are all some of the possible promotions and rewards on offer.

What are the perks and drawbacks of credit cards with transit accident insurance?

Pros

  • Save money. A credit card with complimentary transit accident insurance will save you from organising with another provider and making regular payment to pay it off.
  • Protect your family. If you're travelling with family and have paid for their travel costs on the relevant card, you can protect your loved ones in the event that they suffer an injury while in transit on your next holiday.
  • Peace of mind. Although no one plans for accidents to happen, having transit accident insurance will provide you with peace of mind and reduce stress in the event an accident does occur.

Cons

  • Paying for the trip with the credit card. Most credit cards that provide complimentary insurance will require you to pay for the trip using your credit card in order to receive the cover. Considering many airlines and other companies charge credit card surcharges, this can add unnecessary costs to your trip.
  • Cover limitations. Some insurance providers may only provide a maximum amount of cover per accident and not per cardholder. If you have a joint credit card account, this means that if there happens to be another cardholder in the same accident, you'll receive a reduced claim amount.
  • Annual fees. Credit cards that offer with complimentary insurance usually come at the cost of higher annual fees. Make sure that the benefits you'll receive from the insurance, plus other features on the card, will outweigh these costs.

FAQs

What is the procedure to make a claim?

For you to make a claim for transit accident insurance policy, you will have to call the insurance provider and tell what happened. Many of these services are available 24/7.

Is it mandatory for me to travel with all my documents to benefit from the insurance?

For you to benefit from transit accident insurance, it is important to travel with documents that show proof that you are eligible. Mostly, include documents which the proof that you purchased your transit tickets using your transit accident insurance credit card.

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How do I know if I'm covered or not?

If you're not sure if you're eligible for this cover call the insurance provider who offers the policy on behalf of the card provider.

What are some of the things that this type of policy won't cover?

In most cases, transit accident insurance won't cover such losses resulting from suicide, terrorists attack, war, radioactive contamination, criminal acts and similar occurrences. However, you should check the policy documents to find out more.

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