Is travel insurance on credit cards worth it?

If you already have a credit card and use it regularly, the complimentary travel insurance included with your card can save you money. However, not all policies are created equal. Most do not cover pre-existing conditions and there are still some that do not cover claims related to COVID.

Do credit cards automatically have travel insurance?

Credit cards will typically include some travel insurance but don't just assume that they do. Call the provider to find out and make sure it covers more than the basics (e.g. medical expenses and personal liability).

What is the difference between credit card travel insurance and travel insurance?

Many credit card travel insurance policies cover the same things as standard travel insurance now. This can include medical expenses, cancellation cover, lost luggage and COVID-related expenses. However, this can vary. Credit card insurance typically doesn't cover pre-existing conditions, standard travel insurance can. Similarly, many credit card policies don't offer cover if you're over 79 and charge a bigger excess than a standalone policy.

What does credit card international travel insurance cover?

If you get a credit card with comprehensive overseas travel insurance, it will typically include cover for: Emergency medical issues Cancellation (for specific situations) Major flight delays Lost and stolen baggage, travel documents and valuables Hijacking, kidnap and ransom Personal liability Accidental death Funeral expenses

Do I need to activate my credit card travel insurance?

It depends on your card. Some cards now need you to activate your cover before you leave Australia, while others need you to pay for some or all of your travel on the card. It's a good idea to check your card's latest policy booklet for the exact rules on cover activation.

What happens to trips I booked before the credit card changes?

It depends on your bank. Some will honour the old cover for trips booked before the change, as long as you met the conditions at the time. Others base your cover on the policy in place when something goes wrong, not when you booked. It's best to check your bank's website or give them a call to be sure.

Does credit card travel insurance cover domestic trips?

Yes, but credit card travel insurance is more geared towards overseas travel, so domestic cover can be limited. If you're travelling within Australia, check what your card includes or consider purchasing a domestic travel insurance policy.

Can I use credit card insurance and a standalone policy together?

You can have both, but you can't claim the same costs twice. Some people use a standalone policy to fill the gaps their card doesn't cover, so it's worth comparing what each one includes before making a decision.