transit-accident-feature

Credit Cards with Transit Accident Insurance

Information verified correct on December 3rd, 2016

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 December 3rd, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 18 months and an introductory purchase offer of 1% p.a. for 12 months with an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
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
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
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
Citi Rewards Credit Card - Platinum Card
Enjoy a reduced annual fee on 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 $199 p.a. annual fee for the first year ($249 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
BankSA Vertigo Platinum
Enjoy 0% balance transfer rate for 18 months and 1% purchase rate for 12 months if you apply and are approved by 4 January 2017.
1% p.a. for 12 months (reverts to 12.74% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
St.George Amplify Platinum
This card features a 30,000 bonus points offer, introductory interest rates on balance transfers and purchases and an annual fee waiver for the first year.
1% p.a. for 12 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $0 p.a. annual fee for the first year ($99 p.a. thereafter) 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 balance transfers and an exclusive $129 Virgin Australia Gift Voucher every 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 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 40,000 bonus points and enjoy up to 10% off Emirates flights when you meet the spend requirement. Also pay 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
American Express Qantas Ultimate Card
Enjoy up to 100,000 bonus Qantas Points on eligible spend, earn up to 3 Qantas Points for every $1 spent and get a free return 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
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 dollar spent. Gain access to travel insurance, $300 Platinum Travel Credit every year and access to 900 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
Citi Simplicity Card
Take advantage of the 0% p.a. for 9 months offer on balance transfers, a low interest rate on purchases, an annual fee waiver for life, plus 5% cashback on retail purchases.
19.99% p.a. 0% p.a. for 9 months $0 p.a. Go to site More info
American Express Qantas Premium Card
Earn as much as 30,000 bonus Qantas Points when you meet the minimum spend requirement. 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
Citi Rewards Platinum Card - Cashback Offer
Earn $250 cashback on eligible spend, plus enjoy 0% p.a. balance transfer offer for 12 months, discounted annual fees for the life of the card and a complimentary travel insurance.
20.99% p.a. 0% p.a. for 12 months $99 p.a. annual fee for the first year ($199 p.a. thereafter) Go to site More info
NAB Qantas Rewards Premium Card
Get 25,000 bonus Qantas Points plus enjoy a low promotional offer of 0% p.a. for 15 months on purchases and balance transfers.
0% p.a. for 15 months (reverts to 19.99% p.a.) 0% p.a. for 15 months with a one-off 3%% balance transfer fee $250 p.a. Go to site More info
American Express Explorer Credit Card
Receive 100,000 Membership Rewards Bonus Points on eligible spend within the first 2 months of Card Membership. Also enjoy a $400 travel voucher and two complimentary airline passes per year.
20.74% p.a. 0% p.a. for 12 months with 1% balance transfer fee $395 p.a. Go to site More info
NAB Premium Card
Benefit from Premium credit card advantages including travel insurance, higher credit limits and VIP Lost Card Cover. 0% p.a. for 15 months on purchases and balance transfers.
0% p.a. for 15 months (reverts to 19.74% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $90 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 18 months with 3% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Commonwealth Bank Business Interest-Free Days Credit Card
Take advantage of $0 annual fee for the first year and receive $250 cash back (spend $500 by 31 March 2017).
17.57% p.a. $0 p.a. annual fee for the first year ($60 p.a. thereafter) Go to site More info
Commonwealth Bank Business Platinum Awards Credit Card
Earn up to 3 Awards points per dollar spent and enjoy a range complimentary insurances.
20.74% p.a. $300 p.a. Go to site More info
Westpac Altitude Black - Exclusive Offer
Earn 100,000 bonus points when you spend $5,000 on eligible purchases, choose between two reward programs offering Altitude or Qantas Rewards and receive premium cardholder benefits.
20.24% p.a. $395 p.a. Go to site More info
NAB Qantas Rewards Premium Card - Exclusive Offer
Get 75,000 bonus Qantas Points plus enjoy a low promotional offer of 4.99% p.a. for 6 months on balance transfers.
19.99% p.a. 4.99% p.a. for 6 months $250 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

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.

Accordion 1 content

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.

Was this content helpful to you? No  Yes

Related Posts

American Express Essential Credit Card
American Express Essential Credit Card

Interest rate

14.99

Annual fee

0
ME Bank frank Credit Card
ME Bank frank Credit Card

Interest rate

11.99

Annual fee

0
HSBC Platinum Credit Card
HSBC Platinum Credit Card

Interest rate

19.99

Annual fee

149
Ask a question
feedback