Updates to travel insurance with the Citi Premier Card

[Rayesfeg]

Email received today to outline reductions in the International Travel Insurance coverage and other changes:

• Overseas Emergency Assistance now capped at $20 mil (previously unlimited)
• Additional expenses coverage capped at $200,000 (previously unlimited)
• Cancelation coverage reduced by half to $25,000 (previously $50,000)

The biggest, and most disappointing change is the increase in excess, which is now a whopping $600 (up 50% from $400).

Some other changes have been made throughout and available on the Citi Website.

While the first three changes probably won't impact many cardholders, the chance in excess amount certainly will. All round, a disappointing change by Citi.

 

[SCM]

It seems like this impacts all citi but also citi managed cards (for example, the virgin ff card, coles cards, etc).

I agree, it's not a great change, the first 2 will probably impact people who are very misfortunate and end up with rehabilitating injuries, which is not great, but I suppose we all hope we don't end up in such a situation.

Cancellation... yeh depends on how expensive your trip is I get.

The excess is definitely too much, $400 IMO is already an unreasonably high excess which begs the question of the value of insurance, because many claims may well be under this. $600 is just ridiculous.

For example, imagine your luggage is badly damaged (not the clothes or whatever inside, but the actual suitcase), plus maybe one item not costing more than $100. Well, you basically will receive nothing. That's not insurance at all...

 

[Johnxx]

As a soft luggage one-bagger these changes don't worry me. I just look at credit card free travel insurance as something that saves me forking out $300-400 every trip for something that I am very unlikely to use but stops the possibility of an event that bankrupting me