Travelling can be a fun and wonderful experience, which is why you must get proper coverage. After COVID-19, due to a wide range of uncertainties, many people have started to buy travel insurance.A key thing to note is that some credit card providers are also offering travel insurance coverage.
Both these coverages offer a wide range of benefits, so it can often get confusing about which to choose. Let's explore the benefits of both and determine which one is best for you.
Travel insurance is usually provided by a policy provider to cover uncertainties that may arise during the trip. It’s highly recommended for international travel as it offers convenience and customisation of plans.
On the other hand, credit card travel insurance is offered by credit card companies, usually at a minimal or no extra cost. However, not all credit card providers offer these benefits, so it’s essential to verify.
•Helps in Case of Trip Cancellations: Covers non-refundable costs in case of listed cancellations.
•Covers Last-minute Changes: Includes coverage for delays, cancellations, and changes without extra costs.
•Provides Medical Assistance: Covers emergency medical treatment, evacuation, and hospitalisation.
•Travel Accident Coverage: Offers coverage for injuries or death if reported within 24 hours.
•Baggage Loss or Damage: Covers damage/loss due to accidents.
•Health and Dental Emergencies: Reimburses for emergencies with proper medical documentation.
•Emergency medical expenses
•Dental expenses
•Personal accident
•Hospital cash benefits
•Flight delay and cancellation
•Trip delay and cancellation
•Loss of passport or international driving license
•Emergency cash assistance
•Loss of checked-in baggage
•Delay of checked-in baggage
•Baggage theft
•Travel accident: hospital and burial fees covered
•Lost luggage: reimbursement for essential items
•Pre-trip cancellation: refunds for flight, hotel, and tours
•Medical and dental emergencies: reimbursements provided
While both types of insurance offer benefits, regular travel insurance is preferable for international trips due to:
•Higher coverage limits
•Customisable plans
•Coverage for pre-existing medical conditions (if disclosed)
Credit card insurance has limited customisation and more complex claims processes. Always compare benefits before making a decision.
Choosing between travel insurance and credit card insurance requires research. Evaluate your needs, check inclusions/exclusions, and select what best fits your trip. Whatever you choose, ensure that adequate coverage is provided.
Disclaimer: The above information is for illustrative purposes only. Please refer to the policy documents before making a final decision.
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