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 23rd, 2018
Name Product Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee Product Description
HSBC Platinum Credit Card
19.99% p.a.
0% p.a. for 22 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($129 p.a. thereafter)
Offers a 0% p.a. for 22 months balance transfer, $0 annual fee for the first year and an annual fee refund each year when you spend $6,000.
NAB Low Fee Platinum Card
19.74% p.a.
0% p.a. for 24 months with 2% balance transfer fee
$90 p.a.
Offers 7 complimentary insurance covers, a 0% p.a. for 24 month balance transfer and access to a 24/7 concierge service for a $90 p.a. annual fee.
St.George Vertigo Platinum - Online Offer
12.74% p.a.
0% p.a. for 24 months with 1% balance transfer fee
$0 p.a. annual fee for the first year ($99 p.a. thereafter)
Platinum card benefits including complimentary insurance, plus first year annual fee waiver and 0% p.a. for 24 months on balance transfers.
Virgin Australia Velocity Flyer Card - Bonus Points Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Earn up to 60,000 bonus Velocity Points in the first 3 months and enjoy a discounted annual fee of $64 for the first year.
HSBC Platinum Qantas Credit Card
19.99% p.a.
0% p.a. for 12 months
$199 p.a.
Receive 60,000 bonus Qantas Points when you spend $3,000 within 3 months of card approval, plus enjoy complimentary travel insurance.
Westpac 55 Day Platinum Credit Card
19.84% p.a.
0% p.a. for 20 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($90 p.a. thereafter)
Receive a 20 month balance transfer offer, up to 55 days interest-free on purchases, a platinum concierge service and a $0 first year annual fee.
St.George Amplify Signature - Qantas
19.49% p.a.
$279 p.a.
Receive 90,000 bonus Qantas Points when you spend $4,000 within 90 days and receive two complimentary Qantas Club lounge invitations per year.
Westpac Altitude Black - Qantas
20.24% p.a.
$250 p.a.
Earn 80,000 bonus Qantas Points when you spend $5,000 on eligible purchases. Plus, 2 yearly Qantas Club lounge invitations.
Emirates Citi World Mastercard
20.99% p.a.
0% p.a. for 9 months
$149 p.a. annual fee for the first year ($299 p.a. thereafter)
Receive up to 60,000 bonus Skywards Miles, pay half the annual fee for the first year and indulge in curated local and global experiences.
Qantas American Express Ultimate Card
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$450 p.a.
Receive 55,000 bonus Qantas Points, a $450 Qantas Travel Credit each year and 2 yearly complimentary Qantas Club lounge invitations.
Virgin Australia Velocity Flyer Card - 0% Interest Offer
0% p.a. for 14 months (reverts to 20.74% p.a.)
0% p.a. for 6 months
$129 p.a.
Buy now and pay later with 0% p.a. interest on purchases for 14 months. Plus, 0% p.a. on balance transfers for up to 6 months.
American Express Platinum Card
$1,200 p.a.
Receive an annual $300 Platinum Travel Credit, 80,000 bonus Membership Rewards points and access to more than 1,100 VIP lounges worldwide.
American Express Gold Business Card
$169 p.a.
Take advantage of 10,000 bonus points, no pre-set spending limit, data that feeds to MYOB and up to 51 days interest-free on purchases.
Qantas American Express Premium Card
20.74% p.a.
0% p.a. for 12 months with 1% balance transfer fee
$249 p.a.
Enjoy 30,000 bonus Qantas Points, 2 complimentary Qantas Club lounge invitations per year and the protection of complimentary insurance covers.
Bank of Melbourne Amplify Signature
19.49% p.a.
$279 p.a.
Get 90,000 bonus Amplify or Qantas Points when you spend $4,000 within 90 days and earn up to 1.5 Amplify or 0.75 Qantas Points per $1 spent.
St.George Amplify Platinum
19.49% p.a.
$99 p.a.
Receive 50,000 bonus Amplify or Qantas Points when you spend $2,000 within 90 days and earn 0.5 Qantas Points or 1 Amplify Point per $1 spent.
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
20.74% p.a.
0% p.a. for 18 months
$64 p.a. annual fee for the first year ($129 p.a. thereafter)
Take advantage of 0% p.a. on balance transfers for up to 18 months. $64 in the first year ($129 p.a. thereafter), plus, bonus Velocity Points.
Citi Rewards Platinum Credit Card
20.99% p.a.
0% p.a. for 26 months with 2.5% balance transfer fee
$49 p.a. annual fee for the first year ($149 p.a. thereafter)
Earn reward Points per $1 spent, take advantage of a 0% p.a. for 26 month balance transfer offer, plus complimentary international travel insurance.
Citi Simplicity Card
19.99% p.a.
0% p.a. for 15 months with 1.5% balance transfer fee
$0 p.a.
Save with 5% cashback on eligible purchases (capped at $50 per month) for the first 90 days from approval. Plus, a 15 month balance transfer offer.
ANZ Platinum Credit Card
19.74% p.a.
0% p.a. for 18 months with 2% balance transfer fee
$0 p.a. annual fee for the first year ($87 p.a. thereafter)
Receive a 0% p.a. for 18 month balance transfer offer and a $0 first year annual fee. Plus, complimentary overseas travel and medical insurance.
NAB Qantas Rewards Premium Card
19.99% p.a.
0% p.a. for 6 months with 2% balance transfer fee
$250 p.a.
Offers 60,000 bonus points when you meet the spend requirements and Qantas Points for your everyday spending. Plus a 24/7 personal concierge.
NAB Rewards Business Signature Card
18.50% p.a.
$175 p.a.
Earn 100,000 bonus points when you spend $4,000 on everyday business purchases in the first 60 days of account opening.
American Express Westpac Altitude Black Bundle - Qantas
20.24% p.a.
$499 p.a.
Up to 120,000 bonus Qantas Pts when you meet the criteria with a Mastercard (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
American Express Westpac Altitude Black Bundle
20.24% p.a.
$449 p.a.
Up to 120,000 bonus Altitude Pts when you meet the criteria with a Mastercard (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
American Express Westpac Altitude Platinum Bundle - Qantas
20.24% p.a.
$249 p.a.
Up to 75,000 bonus Qantas Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).
American Express Westpac Altitude Platinum Bundle
20.24% p.a.
$199 p.a.
Up to 75,000 bonus Altitude Points when you meet the criteria with this dual Visa (issued & serviced by Westpac) & Amex (issued & serviced by Amex).

Compare up to 4 providers


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.

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    Interest rate

    13.49

    Annual fee

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    HSBC Platinum Credit Card
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    19.99

    Annual fee

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    NAB Low Fee Card
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    Citi Platinum Credit Card - 100k Bonus Points
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    Interest rate

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    Annual fee

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