Complimentary credit card travel insurances - Any adequate ones?

[tdimdad]

While we talk about separate annual multi-trip TI's here, it'd be interesting to know if any of the commonly available credit cards provide TI policies which would be generally adequate to replace a separate insurance policy?

With a separate policy I mean comprehensive plans from the likes of CoverMore, Southern Cross, Allianz, etc. For me, those plans cost around $500 - $700 a year (excluding high-cost countries like US). In this case, if there was a comparable credit card policy, it'd make sense to seriously consider that if the annual fee is at the same ballpark. This would inevitably rule out the high-cost cards (like some of the high-end Amex's) because one can get a low-cost card + separate annual TI for a lot lower price.

One reason to think of this is that I don't feel the need to duplicate plans and pay multiple times for the same. At the same time, I do want the plan (or collection of plans) to cover the likely high-cost or difficult items, should something adverse happen while wandering around.

ANZ Qantas Black at least used to have a pretty good policy and the card currently goes for $425/year (plus you collect QFF points along the way as a bonus). But how good is the policy these days and would there be other cards worthwhile checking out to replace a separate TI?

 

[Cynicor]

Pretty much all top end cards have TI comparable to paid annual multi trip.
Unless your travel outside of the normal, it should be fine; esp the Amex platinum charge card.

“Gotchas” that you might need seperate cover for- age, certain family member might need cover, skiing esp off piste, using points to travel, some domestic trips, certain sports or activities, and if you need a higher $ amount of cover.
For all these just check the pds as many CC will cover them.

Otherwise most of the time CC cover is great. I’d use it more but I’m exhausting a bunch of points and aren’t always covered

 

[TheRealTMA]

Pretty much all top end cards have TI comparable to paid annual multi trip.
Unless your travel outside of the normal, it should be fine; esp the Amex platinum charge card.

“Gotchas” that you might need seperate cover for- age, certain family member might need cover, skiing esp off piste, using points to travel, some domestic trips, certain sports or activities, and if you need a higher $ amount of cover.
For all these just check the pds as many CC will cover them.

Otherwise most of the time CC cover is great. I’d use it more but I’m exhausting a bunch of points and aren’t always covered

While we talk about separate annual multi-trip TI's here, it'd be interesting to know if any of the commonly available credit cards provide TI policies which would be generally adequate to replace a separate insurance policy?

With a separate policy I mean comprehensive plans from the likes of CoverMore, Southern Cross, Allianz, etc. For me, those plans cost around $500 - $700 a year (excluding high-cost countries like US). In this case, if there was a comparable credit card policy, it'd make sense to seriously consider that if the annual fee is at the same ballpark. This would inevitably rule out the high-cost cards (like some of the high-end Amex's) because one can get a low-cost card + separate annual TI for a lot lower price.

One reason to think of this is that I don't feel the need to duplicate plans and pay multiple times for the same. At the same time, I do want the plan (or collection of plans) to cover the likely high-cost or difficult items, should something adverse happen while wandering around.

ANZ Qantas Black at least used to have a pretty good policy and the card currently goes for $425/year (plus you collect QFF points along the way as a bonus). But how good is the policy these days and would there be other cards worthwhile checking out to replace a separate TI?

Providing you meet the requirements, CC insurance is as good as seperate insurance. We used Amex Platinum TI for one trip and I fell down steps and tore my quadriceps tendon. Amex paid out $32K in expenses, medical and lost travel bookings. Can’t complain about that,

 

[Jacques Vert]

Most Crédit card insurances don't cover pre-existing medical conditions (at least not without an additional premium).

So unless you are young and healthy you need to tread carefully.

 

[TheRealTMA]

Most Crédit card insurances don't cover pre-existing medical conditions (at least not without an additional premium).

So unless you are young and healthy you need to tread carefully.

Yes, check the T&Cs, but you can always take out a health only policy with another insurer and use CC TI for other stuff.

 

[SYD]

Most Crédit card insurances don't cover pre-existing medical conditions (at least not without an additional premium).

So unless you are young and healthy you need to tread carefully.

Most TI don’t include PEMCs by default. There’s usually an uplift to cover them.

 

[latawiec]

Providing you meet the requirements, CC insurance is as good as seperate insurance. We used Amex Platinum TI for one trip and I fell down steps and tore my quadriceps tendon. Amex paid out $32K in expenses, medical and lost travel bookings. Can’t complain about that,

For peace of my mind I am using my Ultimate Awards CC from CBA.

Complimentary international travel insurance included with the Smart Awards or the Ultimate Awards CBA credit cards - requires traveler to register your travels in order to get an insurance certificate and also your policy number from
the underwriter agent which is the Cover-More Insurance Services.

You must register/activate your travel insurance policy available with eligible cards to ensure you receive comprehensive cover.

Choice Magazine informs that:
Credit card travel insurance can be as good, or even better than standalone travel insurance. But you pay for it through the higher annual fee on your card and the high interest rate on your debt. If you can't afford to pay your balance straight away, consider the financial risk.

How to find travel insurance that comes free with a credit card | CHOICE

Does the travel insurance that comes free with some premium credit cards stack up against the standalone policies? Our insurance experts look at the pros and cons.

www.choice.com.au

 

[ZigZagWanderer]

For peace of my mind I am using my Ultimate Awards CC from CBA.

Complimentary international travel insurance included with the Smart Awards or the Ultimate Awards CBA credit cards - requires traveler to register your travels in order to get an insurance certificate and also your policy number from
the underwriter agent which is the Cover-More Insurance Services.

You must register/activate your travel insurance policy available with eligible cards to ensure you receive comprehensive cover.

Choice Magazine informs that:
Credit card travel insurance can be as good, or even better than standalone travel insurance. But you pay for it through the higher annual fee on your card and the high interest rate on your debt. If you can't afford to pay your balance straight away, consider the financial risk.

How to find travel insurance that comes free with a credit card | CHOICE

Does the travel insurance that comes free with some premium credit cards stack up against the standalone policies? Our insurance experts look at the pros and cons.

www.choice.com.au

In the case of CBA, my reduced mortgage interest rate more than covers the annual cost of the card. Interestingly, I once blocked the card from use (for a couple of personal reasons), and the fee now goes on to my mortgage, which means I don't really have to think about it for another 20 years...

 

[latawiec]

In the case of CBA, my reduced mortgage interest rate more than covers the annual cost of the card. Interestingly, I once blocked the card from use (for a couple of personal reasons), and the fee now goes on to my mortgage, which means I don't really have to think about it for another 20 years...

My monthly fee of $35 for my Ultimate Awards CC is waived if I spend $4k.
For the Award CC fee is $19 and waived for spendings above $2k.

I am with CBA for over 40 yrs and cannot complain. I remember that in 1980th my interest rate on my home mortgage was at 13.5 % at peak and we didn't or even complain.
I was happy to buy my first house and also happy to have my job because unemployment was then quite high and the biggest warry was to lose the job.
Well, the world was then different, life simpler, and people more patient.

If we were having the present interest rates in 1980th we would be extremely happy...

 

[Cynicor]

I’m going to reply to the off topic nonsense above- house prices are much higher now, we’d all be happy to pay 13% if prices were what they were then compared to average salaries.

 

[latawiec]

I’m going to reply to the off topic nonsense above- house prices are much higher now, we’d all be happy to pay 13% if prices were what they were then compared to average salaries.

Dear Cynic-or,
RE:

house prices are much higher now

Yes, correct! ...and also your wages, and also bigger houses, and better equipped.

Can you acknowledge that in 1980th houses were cheaper because were single-story, with one bathroom, smaller kitchen, without dishwasher and w/out air-conditioning. Most houses were in a range 60-90 m2.

So our aspirations in 1980th regarding house were much lower than yours at present. We also earned less with much slower wages growth and life was definitely not easier but we were more adaptable, more independent and more responsive than present generations.

And also we were much more happier, although we didn't have a lot what you have and enjoy now...
Although we had less, traveled less, etc.. we enjoyed more our time than present younger generations now.

Why? Because all present gadgets, influence, envy, internet, social media, ... don't make you wiser or happier.

 

[Jacques Vert]

Most TI don’t include PEMCs by default. There’s usually an uplift to cover them.

True, but many CC TI policies do not have the option to add PEMCs.

 

[MEL_Traveller]

ANZ platinum, the regular non-points-earning variety, costs $79 a year and comes with comprehensive TI. Spend $250 and you qualify.

Pre-existing conditions can be covered if they are stable. There’s a $75 screening fee - all automatic now - and if they agree to cover you can pay the $75 fee. If they can’t provide cover, you pay nothing. The remainder of your insurance is valid, just you can’t claim anything related to the PE condition.

The huge advantage of a card like that was for my parents… ANZ covered them up to their 81st birthday. They had the usual health issues for someone their age, but nothing major (thankfully). It saved them many thousands of dollars over the years.

But the PDS is key, especially eligibility. Some cards restrict you to having purchased the whole ticket on the card, OR, if using points, you must have accrued all the points for the flight through the credit card!

The only thing I’ve had to take out separate cover for has been a cruise.

 

[Flyfrequently]

Most Crédit card insurances don't cover pre-existing medical conditions (at least not without an additional premium).

So unless you are young and healthy you need to tread carefully.

Agree @Jacques Vert wish were were still young and healthy!
We have found the complimentary TI with our ANZ and Westpac Platinum CC's we are accepted for our pre existing with an online assessment fee/ extra premium of $75 (ANZ) $45 (Westpac)
Easy to meet qualifying criteria.
Fortunately have not needed to claim

 

[sanne]

Agree @Jacques Vert wish were were still young and healthy!
We have found the complimentary TI with our ANZ and Westpac Platinum CC's we are accepted for our pre existing with an online assessment fee/ extra premium of $75 (ANZ) $45 (Westpac)
Easy to meet qualifying criteria.
Fortunately have not needed to claim

Unfortunately the cut off age is 80. Have to activate before your 81 st birthday.

 

[latawiec]

In the case of CBA, my reduced mortgage interest rate more than covers the annual cost of the card. Interestingly, I once blocked the card from use (for a couple of personal reasons), and the fee now goes on to my mortgage, which means I don't really have to think about it for another 20 years...

Happy birthday to you

 

[Rich]

Can you acknowledge that in 1980th houses were cheaper because were single-story, with one bathroom, smaller kitchen, without dishwasher and w/out air-conditioning. Most houses were in a range 60-90 m2.

Off topic again but your comment needs a response. Houses are more expensive due to the cost of land. It has nothing to do with fancy gadgets and the like. Do some research on the cost of housing (or land) compared with average income. Give me 17% rates with 1980s pricing and salaries any day.

 

[latawiec]

Off topic again but your comment needs a response. Houses are more expensive due to the cost of land. It has nothing to do with fancy gadgets and the like. Do some research on the cost of housing (or land) compared with average income. Give me 17% rates with 1980s pricing and salaries any day.

.... and now also additional reason, high migration!
.... always something or somebody to blame, but I stick still to my view.
I started with my first property that was about 40 yrs old, with 2 bdrm & one bathroom and quite afar from CBD. Today young generation doesn't like such starts...

I suggest to close this off topic, as we all may have different point of view. And my is based on 74 yrs (dinosaur) of life experience.

 

[UP4014]

Insurance is just a promise to pay, I've never found a fine print doc that says they must pay.

 

[Rich]

I suggest to close this off topic, as we all may have different point of view. And my is based on 74 yrs (dinosaur) of life experience.

Nothing like someone declaring the conversation to be closed after first having another say.