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- Best overall card for travel insurance: Chase Sapphire Reserve
- Best card for group travel: Capital One Venture X Rewards
- Best value card for travel insurance: Chase Sapphire Preferred
- Best card for trip interruptions: American Express Platinum
- Best value card for lost luggage protection: Capital One Venture Rewards
- Best basic coverage for domestic travel: Southwest Rapid Rewards Card
What is travel insurance?
Travel insurance is a type of insurance coverage that provides financial protection against unexpected events or emergencies that may occur during your travels, such as trip cancellations, medical emergencies, lost baggage, or other unforeseen circumstances.
What are the main types of travel insurance?
- The main categories of travel insurance are typically based on the type of coverage they provide. Here are the main categories of travel insurance:
- Trip cancellation/interruption insurance: This covers expenses incurred if you need to cancel or interrupt your trip due to covered reasons such as illness, injury, death, natural disasters, or other unforeseen events.
- Medical insurance: This provides coverage for medical expenses incurred while traveling. It can include emergency medical treatment, hospital stays, doctor’s visits, medications, and medical evacuations.
- Baggage and personal belongings insurance: This type of travel insurance protects against loss, damage, or theft of your luggage, personal belongings, and valuables during your trip.
- Travel delay insurance: This covers additional expenses incurred due to unexpected delays, such as flight cancellations, missed connections, or severe weather conditions.
- Emergency evacuation insurance: This category assists with the cost of emergency evacuations, particularly in remote or medically inadequate areas.
- Accidental death and dismemberment insurance: This provides financial compensation in the event of accidental death, loss of limbs, or permanent disabilities resulting from accidents that occur during your trip.
How much does travel insurance cost?
The cost of travel insurance varies depending on several factors, including your destination, the length of your trip, your age, the coverage options you choose, and any pre-existing medical conditions. It is advisable to compare quotes from different insurance providers to find the best coverage at a competitive price.
Where can you buy travel insurance?
Travel insurance can be purchased from various sources, providing flexibility and options for travelers. Here are some common places where you can buy travel insurance:
- Insurance companies: Many insurance companies offer travel insurance policies. You can directly contact insurance providers to inquire about their offerings, receive quotes, and purchase a policy. These companies may have online platforms or local offices where you can access their services.
- Travel agencies: Travel agencies often offer travel insurance as part of their services. When booking your trip through a travel agency, they can provide you with options for travel insurance coverage and facilitate the purchase on your behalf.
- Online travel booking platforms: Online travel booking platforms, such as Expedia, Travelocity, or Kayak, often provide the option to purchase travel insurance during the booking process. These platforms may partner with insurance providers to offer a range of policies that you can select from.
- Credit card companies: Some credit card companies offer travel insurance as a benefit to their cardholders. If you have a credit card with travel-related perks, review the terms and benefits associated with your card to see if travel insurance coverage is included and how to access it.
- Comparison websites: There are online comparison websites that allow you to compare different travel insurance policies from multiple providers. These platforms provide a convenient way to review coverage options, prices, and customer reviews, helping you make an informed decision.
- Specialized travel insurance providers: There are companies that specialize in travel insurance, offering a wide range of policies tailored to different types of travelers and trips. These specialized providers may have additional coverage options or unique features that cater to specific needs, such as adventure travel or long-term travel.
We spend a lot of time writing about the free travel and luxury benefits credit cards can offer you, and trust us, we’ll keep doing that. But there’s one underappreciated perk flying under the radar of most cardholders, and it might just be the most valuable one of them all: travel insurance.
A strong travel insurance policy should be one of the first things planned before any trip, but it’s often neglected. While we might get away with it most of the time, we’re all a fender bender, missed flight, or lost bag away from an expensive problem. And that’s not even considering some of the worst-case medical scenarios.
So, as you consider a shiny new travel card, keep insurance in mind. To help you find the most valuable, we’ve built a list of the best credit cards for travel insurance benefits.
Chase Sapphire Reserve®
Who’s it for?: Regular travelers who want both luxury and practical perks
Notable benefits: The broadest insurance package of any credit card
The Chase Sapphire Reserve® leads the pack with its tremendous coverage. Of course, with a premium card comes premium-sized annual fees, but considering how much it could save you in a tough situation, Chase Sapphire travel insurance is well worth it for many.
Chase Sapphire travel insurance comes with an auto rental collision damage waiver, trip cancellation and interruption insurance up to $10,000 per instance, trip delay reimbursement, lost luggage reimbursement up to $3,000 per person, emergency medical and dental up to $2,500, medical evacuation insurance, and travel accident insurance.
Overview
- Trip cancellation: $10,000 per person/ $20,000 per trip
- Trip interruption: $10,000 per person/ $20,000 per trip
- Trip delay: $500 per ticket when delayed more than 6 hours
- Baggage delay: Up to $100 per ticket for 5 days
- Lost luggage: Up to $3,000 per passenger
- Travel accident: Up to $1 million
- Rental car insurance: Up to $75,000
- Medical coverage: Up to $2,500 emergency medical and dental coverage
- Best for: Luxury Travel
- Annual Fee: $550
- Regular APR: 21.74% - 28.74% (Variable)
- Reward Rate: 1X - 10X
- Recommended Credit: 740-850
Chase Sapphire Reserve®
60,000 Bonus Points
Offer Details:
60,000 Bonus points after $4,000 in purchases in the first 3 months from account opening.
Why we like it
Get up to $900 in Chase Travel value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $900 when redeemed through Chase Travel.
Reward details
- 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠.
- 5x total points on flights through Chase Travel℠.
- 3x points on other travel and dining.
- 1x points per $1 spent on all other purchases.
Pros & Cons
PROS
Get up to $900 in Chase TravelSM value. Earn 60,000 bonus points after $4,000 in purchases in your first 3 months from account opening. That’s worth $900 when redeemed through Chase Travel.
The points are worth 1.5 cents a piece when used directly on Chase’s Ultimate Rewards Portal, offering a simple but high value use for your points.
Automatic $300 annual travel credit each account anniversary year
Plenty of excellent transfer partners allow points to be maximized
Some excellent partnerships with Doordash and Lyft add to its value.
Priority Pass membership allows access to over 1,300+ airport lounges and restaurants.
CONS
No complimentary elite hotel status, like that offered by the Amex Platinum.
You won’t earn points on travel purchases until the $300 credit is used.
It’s subject to Chase’s 5/24 rule. So if you’ve opened five cards in the last two years, you’re most likely not going to be accepted.
Navigator Tip
Read the fine print. It’s great knowing you have some protection from your credit cards, but always ensure you’re covered in a given situation before banking on the help. Most policies require using the card to cover the entire trip, usually without points. There are some exceptions, but if you’re travel hacking, make sure your bags and flights are covered.
Capital One Venture X Rewards Credit Card
Who’s it for?: Families and groups traveling together
Notable benefits: Primary rental insurance
Capital One travel insurance is another premium option, although only costing a far more palatable $350. The Capital One Venture X Rewards Card is one of the best credit cards for travel insurance benefits. If you’re renting a car, declining the rental agency’s coverage grants you primary coverage, giving you peace of mind if the worst happens on your trip.
On top of the stellar rental insurance, every ticketholder paid for with the card is covered with trip cancellation and interruption insurance up to $2,000, as well as lost luggage and trip delay reimbursement. You won’t be covered for medical situations, however, so you’ll need to use this in tandem with a great insurance policy.
Overview
- Trip cancellation: Up to $2,000 per person
- Trip interruption: Up to $2,000 per person
- Trip delay: $500 per ticket when delayed more than 6 hours/overnight stay
- Baggage delay: N/A
- Lost luggage: Up to $3,000 per passenger
- Travel accident: Up to $1 million
- Rental car insurance: Up to $75,000
- Medical coverage: N/A
- Best for: Overall Travel
- Annual Fee: $395
- Regular APR: 19.99% - 29.74% (Variable)
- Reward Rate: 2X - 10X
- Recommended Credit: 720-850
Capital One Venture X Rewards Credit Card
75,000 Bonus Miles
Offer Details:
75,000 bonus miles after you spend $4,000 on purchases in the first 3 months from account opening.
Why we like it
The Capital One Venture X is a direct competitor to the Chase Sapphire Reserve, and for many seeking a simpler earning scheme with premium perks, it could be the better option. But the Venture X truly shines with one benefit in particular: four free authorized users. Not only can they all use the card and earn miles, they all receive a Priority Pass membership which allows themselves and two guests access to airport lounges. In a highly improbable situation, that means you could technically bring 15 people into a lounge with you.
Reward details
10 Miles per dollar on hotels and rental cars booked through Capital One Travel
5 Miles per dollar on flights and vacation rentals booked through Capital One Travel
2 Miles per dollar on every purchase
Pros & Cons
Pros
Its solid intro bonus of 75,000 miles is worth well over $1,000 when transferred to partner airlines and hotels, or a flat rate $750 when redeemed on the Capital One Travel Portal.
Cardholders get a bonus of 10,000 miles each year after their first account anniversary, which is nothing to shrug off, especially when a little bit short of that business class flight. It’s worth almost $200 depending on how you use it.
The $300 annual credit for purchases made on the Capital One Travel Portal, combined with the yearly free miles, more than annul the $395 annual fee.
Four authorized users can be added for free.
The cardholder is entitled to a Priority Pass membership and entry to Capital One Lounges, even the authorized users.
A generous offering of travel insurance, protections and reimbursements round out an excellent array of benefits.
Cons
The $300 credit is a bit less flexible than the Chase Sapphire Reserve’s comparable benefit.
Miles earning is the same as the Sapphire Reserve on portal-based purchases, but less on general travel spending.
Capital One transfer partners are solid, but still don’t include any US-based airlines or hotels.
Chase Sapphire Preferred® Card
Who’s it for?: Responsible budget travelers
Notable benefits: High value coverage for a small annual fee
If the Chase Sapphire Reserve is a little beyond your budget, check out its more affordable sibling, the Chase Sapphire Preferred® Card. While this $95-a-year card may have less travel coverage, its Chase Sapphire travel insurance still packs a value-laden punch.
The Chase Sapphire travel insurance shares the same auto rental collision damage waiver as the Reserve, lost luggage reimbursement, trip cancellation, and trip interruption insurance. Other benefits like travel accident insurance, emergency medical, and medical evacuation insurance are either not included or have less coverage. It’s still a massive contender, and at that price point, it’s arguably the best value card on this list.
Overview
- Trip cancellation: Up to $5,000 per person
- Trip interruption: Up to $5,000 per person
- Trip delay: Up to $500 per ticket when delayed more than 12 hours
- Baggage delay: Up to $100 for five days
- Lost luggage: Up to $3,000 per passenger
- Travel accident: Up to $500,000
- Rental car insurance: Up to the cash value of the car
- Medical coverage: N/A
- Best for: Beginner Travelers
- Annual Fee: $95
- Variable APR: 20.74% - 27.74%
- Reward Rate: 1X - 5X
- Recommended Credit: 670-850
Chase Sapphire Preferred® Card
60,000 Bonus Points
Offer Details:
60,000 Bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Why we like it
The Chase Sapphire Preferred Card is the ultimate all-around travel credit card—it fits perfectly into almost any points-earner’s wallet. Points novices can enjoy a significant intro bonus and easy to grasp spending categories with an approachable annual fee. The more experienced can utilize its high value earning potential as a secondary card and also gain access to Chase’s strong travel booking portal.
Reward details
5x on travel purchased through Chase Travel℠.
3x on dining, select streaming services and online groceries.
2x on all other travel purchases.
1x on all other purchases.
Pros & Cons
PROS
Get 25% more value when you redeem for airfare, hotels, car rentals, and cruises through Chase Travel℠.
The $50 dollar hotel credit for stays purchased on the Chase Travel Portal already cuts the already approachable $95 annual fee significantly.
A 10% annual points bonus is tacked on every year, adding a little more value.
A free year-long Doordash DashPass membership is also thrown in, which gives you free delivery and some extra discounts. It’s a solid perk if you order food delivery at least semi-frequently (Activate by 12/31/2027).
Along with all of the above, cardholders also have access to a string of travel protections like rental coverage, cancellation insurance, and purchase protection.
CONS
Maximizing the value of Chase points can still be complicated for complete novices.
Competing cards like the Capital One Venture have a better earning rate for non-bonused spend.
It’s subject to Chase’s 5/24 rule. So, if you’ve opened five cards in the last two years, you’re most likely not going to be accepted.
Navigator Tip
Many of the cards offer collision protection or rental insurance of some sort. What may not be immediately obvious is that you’ll need to decline coverage from the rental provider first, so keep that in mind if you’re being sold on their “superior” coverage. On the other hand, some card-based insurance is secondary and requires you to have a primary provider. Do your research.
American Express Platinum Card
Who’s it for?: Those traveling in unreliable circumstances
Notable benefits: Strong trip interruption coverage
The American Express Platinum Card is the most iconic card on this list. Its unmistakable shiny finish is synonymous with luxury travel perks, and the American Express travel insurance coverage offerings are just as plentiful. It doesn’t include any medical insurance beyond its global assist line, but it’s got you covered on a number of other angles.
American Express travel insurance trip cancellation and trip interruption insurance covers you up to $10,000 a trip up to $20,000 in a 12-month period, while its trip delay program can give you up to $500 per trip if you’re delayed more than six hours. It also comes with secondary car rental insurance, a baggage insurance plan, and emergency medical evacuation.
Overview
- Trip cancellation: Up to $10,000
- Trip interruption: Up to $10,000 per person
- Trip delay: Up to $500 per ticket when delayed more than 6 hours
- Baggage delay: N/A
- Lost luggage: Up to $3,000 per passenger
- Travel accident: Up to $500,000
- Rental car insurance: Secondary policy up to $75,000
- Medical coverage: Global assist program but no medical coverage
- Best for: Luxury Perks
- Annual Fee: $695
- Pay Over Time APR
- Reward Rate: 5X
- Recommended Credit: 670-850
The Platinum Card® from American Express
80,000 Membership Rewards® Points
Offer Details:
80,000 Membership Rewards® Points after you spend $8,000 on purchases in your first 6 months of card membership
Why we like it
The Amex Platinum was once the sole dominating force in the luxury credit card space. While it now faces some stiff competition, it still offers unbeatable perks like unprecedented airport lounge access, elite status at Hilton and Marriott, and some outstanding statement credits making the mammoth $695 worth it for some.
Reward details
5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year.
5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
Pros & Cons
Pros
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
$200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
$240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
$155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
$200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
$200 Uber Cash: Platinum Card® Members can get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card® to your Uber account to get started. Available to Basic Card Member only. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
$199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
Cons
The $695 annual fee is brutally high. Too high for many that can’t, or don’t want to take full advantage of its benefits.
Points-earning rates are low unless spending directly on flights or with the Amex Portal.
Some of the benefits, like travel credits, are more limited and are harder to use than competing cards’ offerings.
Capital One Venture Rewards Credit Card
Who’s it for?: The lost luggage worrier
Notable benefits: A $1,500 lost luggage policy
Capital One’s more affordable offering, the Venture is another of the best credit cards for travel insurance benefits. Another $95 annual fee makes its protection pretty high value.
This Capital One travel insurance option offers a robust travel accident policy of up to $1,000,000, luggage reimbursement of $1,500 per trip, and an auto rental collision damage waiver. Its primary medical coverage comes in the form of “emergency services,” which can help rearrange travel, find medical assistance, and seek legal help—but note that it’s not actual coverage, just support.
Overview
- Trip cancellation: $1,500
- Trip interruption: $1,500
- Trip delay: N/A
- Baggage delay: $100 per day for 3 days
- Lost luggage: $1,500 per passenger
- Travel accident: Up to $1,000,000
- Medical coverage: Emergency assistance program
- Best for: Travelers who want to keep it simple
- Annual Fee: $95
- Regular APR: 19.99% - 29.74% (Variable)
- Reward Rate: 2X-5X
- Recommended Credit: 660-850
Capital One Venture Rewards Credit Card
75,000 Bonus Miles
Offer Details:
75,000 bonus miles after you spend $4,000 on purchases in your first 3 months of account opening.
Why we like it
The Capital One Venture is an excellent go-to card for any traveler, thanks to its easy to navigate 2 miles per dollar on every purchase. With no bonus categories to consider, a reasonable $95 annual fee, and a strong intro offer worth at least $1,000 in travel rewards, Alec Baldwin might be onto something.
Reward details
5 Miles per dollar on hotels, vacation rentals, and rental cars booked through Capital One Travel
2 Miles per dollar on every purchase, every day
Pros & Cons
Pros
The Capital One Venture’s current intro bonus is worth $1,000 when spent on Capital One’s (recently revamped) travel portal or you can use your miles to cover your recent purchases.
A steady 2 miles per dollar on all purchases makes earning simple and lucrative. You’ll also grab 5 miles per dollar when booking through Capital One’s travel portal.
Its $95 annual fee is almost negligible, especially if the intro bonus is achieved.
Flexible miles allow for a wide array of redemption options.
You can enjoy two free visits to a Capital One Lounge each year.
Cons
Capital One lacks US-based airline and hotel transfer partners.
Not many major perks beyond its miles value.
Southwest Rapid Rewards® Plus Credit Card
Who’s it for?: Domestic travelers and Southwest loyalists
Notable benefits: Travel accident insurance up to $500,000
The Southwest Rapid Rewards® Plus Credit Card flies well under the radar of many travelers. We’ve been recommending it for a while for its solid perks, but we haven’t focused too much on its strong travel coverage.
The card offers an auto rental collision damage waiver (which kicks in when the rental agency’s insurance is declined), lost luggage reimbursement of up to $3,000, baggage delay insurance, and travel accident insurance.
Overview
- Trip cancellation: N/A
- Trip interruption: N/A
- Trip delay: N/A
- Baggage delay: Up to $100 per day for 3 days
- Lost luggage: Up to $3,000 per passenger
- Travel accident: Up to $500,000
- Rental car insurance: Secondary policy
- Medical coverage: Emergency assistance program
- Best for: Beginner Southwest Points
- Annual Fee: $69
- APR: 20.74% - 27.74% (Variable)
- Reward Rate: 1X - 2X
- Recommended Credit: 670-850
Southwest Rapid Rewards® Plus Credit Card
40,000 Bonus Points + $400 statement credit
Offer Details:
40,000 Bonus points after you spend $3,000 on purchases in the first 4 months from account opening.
Why we like it
The Southwest Rapid Rewards® Plus Credit Card is the popular airline’s entry-level card and offers solid value for those who fly with the carrier at least once a year. It comes with a few easy-to-use perks like 3,000 Southwest points every year after your first cardmember anniversary and two EarlyBird check-ins per year. It’s a good option for those who want to earn Southwest points on an ongoing basis and not have to pay a high annual fee.
Reward details
2X points on Southwest® purchases.
2X points on local transit and commuting, including rideshare.
2X points on internet, cable, and phone services; select streaming.
2X points on Rapid Rewards® hotel and car rental partners.
1X points on all other purchases.
Pros & Cons
Pros
Cardholders enjoy two EarlyBird check-ins a year which allows for earlier boarding and more seat selection.
The 3,000 annual bonus points are worth around $40 towards travel on Southwest.
25% discount on Southwest in-flight purchases when paying with the card
The intro bonus can be used for collecting points for the Companion Pass benefits
Elite status can be earned with day-to-day spending, and not just flights.
Cons
Charges foreign transaction fees
Southwest points cannot be transferred or used with any airline partners.
Navigator Tip
Many of the benefits provided must be claimed after the fact, so make sure you keep as much evidence as possible, including recently purchased clothing tags, pictures of what’s in your luggage, and the luggage receipt itself. In a rental, take pictures of the car before and after to make sure you cover yourself against any discrepancies.
Frequently asked questions
Many credit cards come with various travel insurance benefits as part of their perks. These benefits typically include coverage for trip cancellations or interruptions, travel accident insurance, baggage delay or loss coverage, rental car insurance, and emergency medical assistance.
You can find information about your credit card’s travel insurance benefits in the card’s terms and conditions, benefits guide, or by contacting your credit card issuer directly. Additionally, some premium cards clearly state these benefits on their websites.
It depends on the credit card you have. Some cards offer travel insurance benefits at no additional cost, while others might require you to pay an annual fee or specific charges to activate the coverage.
The types of trips covered can vary between credit cards, but most travel insurance benefits will typically cover both domestic and international trips, as long as you use the credit card to pay for a significant portion of the travel expenses.
While credit card travel insurance can provide valuable coverage, it may not be as comprehensive as standalone travel insurance policies. It’s essential to review the coverage limits, exclusions, and terms of your credit card’s benefits and compare them with your specific travel needs. In some cases, purchasing additional coverage might be a good idea.
In the event of a covered incident, contact your credit card issuer’s claims department as soon as possible. They will guide you through the claim process and provide the necessary forms and documentation requirements. Be sure to keep all relevant receipts, documents, and evidence to support your claim.
Ask the Navigators: Do I need travel insurance?
by your friends at The Daily Navigator
