transit-accident-feature

Credit Cards with Transit Accident Insurance

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 May 29th, 2017
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
HSBC Platinum Credit Card
Earn 1 Reward Point per $1 spent and receive an annual fee refund with minimum spend.
19.99% p.a. 0% p.a. for 22 months with 2% balance transfer fee $99 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 - Exclusive Offer
Earn 2 Velocity Points on top of the standard earn rate per $1 spent within the first 3 months, plus a $129 Virgin Australia Gift Voucher each year.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
HSBC Platinum Qantas Credit Card
Fly faster with up to 1 Qantas Point per $1 spent and receive bonus Qantas Points on selected Qantas products, services and partners.
19.99% p.a. $199 p.a. Go to site More info
St.George Amplify Signature
Earn up to 3 Amplify Rewards Points per $1 spent and receive two complimentary airport lounge passes per year.
19.49% p.a. $279 p.a. Go to site More info
Virgin Australia Velocity Flyer Card - 0% Interest Offer
Save with 0% p.a. on purchases for 12 months. Also turn your everyday credit card spend into flights, accommodation and more with Velocity Points.
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
Take off sooner with up to 1 Velocity Point per $1 spent and receive 30,000 Bonus Velocity Points.
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
Earn up to 1.5 Skywards Miles for every $1 spent and indulge in carefully curated local and global experiences.
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
Fly faster with up to 2.5 Qantas Points per $1 spent and receive a complimentary Qantas domestic return Economy flight every year.
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
Earn up to 2 Membership Rewards Points per $1 spent and extend your cash flow up to 51 days.
$1,500 p.a. Go to site More info
American Express Platinum Card
Earn up to 3 Membership Rewards Points per $1 spent and receive complimentary access for you and a guest to over 1,000 VIP Lounges.
$1,200 p.a. Go to site More info
American Express Gold Business Card
Earn up to 1 Membership Rewards point per $1 spent and extend your cash flow up to 51 days.
$169 p.a. Go to site More info
Qantas American Express Premium Card
Fly faster with up to 2.25 Qantas Points per $1 spent and receive complimentary domestic and international travel insurance.
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
Earn up to 3 Amplify Rewards Points per $1 spent and receive an additional card at no extra cost.
19.49% p.a. $279 p.a. Go to site More info
St.George Vertigo Platinum
Save with 12.74% p.a. on purchases. Also enjoy Visa Platinum Concierge service.
12.74% p.a. 0% p.a. for 20 months $99 p.a. Go to site More info
St.George Amplify Platinum
Earn up to 2 Amplify Rewards Points per $1 spent and receive complimentary overseas travel insurance.
19.49% p.a. $99 p.a. Go to site More info
BankSA Vertigo Platinum
Save with 12.74% p.a. on purchases. Also enjoy travel insurance.
12.74% p.a. 0% p.a. for 14 months $0 p.a. annual fee for the first year ($99 p.a. thereafter) Go to site More info
Citi Rewards Platinum Credit Card
Take advantage of 0% p.a. for 24 months on balance transfers with a 1.5% BT fee. Plus, earn Reward Points as part of the Citi Rewards Program.
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
A no annual fee Platinum card with Visa Front Line Access.
19.99% p.a. 0% p.a. for 6 months $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
A low annual fee Platinum card with seven complimentary insurances.
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
Earn up to 1.5 Awards points per $1 spent and easily integrate your online accounting software.
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
Earn up to 2 Awards points per $1 spent and receive an unsecured credit limit of up to $50,000.
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
Save with 17.57% p.a. on purchases. Also enjoy easy integration into your online accounting software.
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 $1 spent and stay on track with instantly updated transactions.
20.74% p.a. 5.99% p.a. for 5 months $300 p.a. 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

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.

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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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.

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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