Most credit cards come with free travel insurance, but did you know that you can also book other insurance through your credit card?
Most credit cards come with free travel insurance, but did you know that you can also book other insurance through your credit card? The offers vary from credit card to credit card, so we have compiled an overview of some of the most common insurance policies.
Most credit cards come with a free travel insurance if you pay half the journey with the credit card. If you pay the airline tickets with the credit card, you will automatically already have covered large parts of the journey. When you buy airline tickets with credit cards, you also insure that the airline is going bankrupt.
ID theft insurance
More and more people are experiencing identity theft, which includes situations where, for example, another person tries to open a bank account, apply for a loan or create a subscription in your name. An ID theft insurance usually covers help to prevent identity theft, assistance if you experience an identity theft and legal assistance of up to $ 1 million. This is a nice insurance if it comes free. If it is not included for free, you should carefully consider how much risk you think it is for someone to steal your identity.
Payment insurance is an additional insurance that helps you if you become sick, unemployed or laid off. Should any of these situations occur, this insurance will cover your monthly credit card obligations. The price of this insurance varies depending on your credit card, but is often somewhere between 0.6 and 0.9% per month of outstanding balance.
Purchase and price guarantee
A purchase insurance covers your costs if something you have bought is something that is destroyed, lost or stolen. The insurance will cover the expenses it costs to fix the product, or possibly cover the purchase of a new product up to a certain amount. There are several conditions for how long the insurance will last after the purchase is completed, and it pays to familiarize yourself thoroughly with the insurance terms of the credit card company.
A price guarantee will replace any intermediary you have lost buying an item more expensive somewhere compared to what you could get it for somewhere else.
A ransom insurance covers any losses if you are robbed immediately after withdrawing cash from an ATM and up to a certain period after withdrawal, usually 24 hours.
Some credit cards also offer ticket insurance, which will cover your ticket expenses if you are prevented from going to the event you purchased your ticket for.
This is an overview of some of the insurances that you can purchase extra through your credit card. The different credit card companies offer different insurance policies and the terms vary. Carefully consider whether you can take advantage of some of the insurance offered or if you have already covered it through another insurance.