Change in Platinum Card Travel Insurance?

[awilcockson]

Got my letter today. Had to laugh at them trying to tell me that I should appreciate that it was still a premium card with premium TI cover.

 

[aschmid]

Looking around a bit today at different cards and their TI for a replacement I just was on the Westpac site and had a look at their VISA Platinum 55 days card I actually have. They give me this as part of my home loan and I use it at places where AMEX card is not accepted. Anyway I was a bit surprised to see that the TI for this card are now BETTER than the new AMEX Plat Charge! It has same insurance, higher amounts covered, less excess and less exclusions. Can you believe that? A card that you essentially get for free has better insurance conditions than a $900 AMEX Platinum Card?!?

What really get's me going though is that AMEX is still trying to tell me in their beautiful letters that I have a "premium card with exceptional insurance cover". Liars!

 

[aschmid]

Got my letter today, at the same time an offer that if I take up the plat business card and keep my personal plat card I'd get them for $600 each...

If the insurance was still there I probably would have considered it...

Yes I got that same offer as well. Interesting is also the date until this is valid for which is 30 May 2012. There couldn't be a connection to the 15 June date of insurance change, could there be? Maybe AMEX Plat Charge drops to $600 annual fee? Even if it did would it still be a good deal with the reduced TI?

 

[LuisT]

Yes I got that same offer as well. Interesting is also the date until this is valid for which is 30 May 2012. There couldn't be a connection to the 15 June date of insurance change, could there be? Maybe AMEX Plat Charge drops to $600 annual fee? Even if it did would it still be a good deal with the reduced TI?

I was thinking the same thing... At $600 i might consider it as I think an annual TI policy would be around the $300-$350 mark?

 

[Flashback]

I was just thinking about the fact they're double dipping. You often have to pay a surcharge to put the fares on the AMEX, then on top of that you're having a premium to have the card in the first place. Great deal, if you're AMEX that is.

 

[serfty]

FWIW, the Westpac Earth Platinum AMEX has quite a good TI product.

Unfortunately it does tie one to QFF for rewards.
Posted on a wing and a prayer

 

[obrienja]

I got an Amex online survey about my recent contact with them about the changes to the travel insurance. I'm looking forward to my call back with a their "customer service" people. Of course I'm expecting nothing will come of it and I'll be spoken at by a drone reading from a script about how good the card & product is but unless my bullsh*t-o-meter is broken I can't see it working. What I thought was interesting is that the Qantas Ultimate insurance now seems significantly better (or at least more practical with any flights paid for on the card or with points initiating the insurance) and it's also offered by ACE (it has less restrictions on sporting activity too) - but I bet it'll get enhanced in the near future as well.

 

[greenfrog86]

I was just thinking about the fact they're double dipping. You often have to pay a surcharge to put the fares on the AMEX, then on top of that you're having a premium to have the card in the first place. Great deal, if you're AMEX that is.

Flashware - add to that the THREEWAY double dipping when they expect you to pay on your card while overseas.... $900 annual fee + surcharges + 3%

I made the mistake of looking at the US Amex website again last night...

It is enough to make you want to cry...

$450 annual fee
$200 towards baggage & other airline fees (I could use much of this - so that makes the AF $250/300)
**no foreign exchange fees on transactions** which would actually encourage people in Australia to pay for their 'whole' trip on their card in order to use the TI (I'd like this convenience and not have to use the 28 Degrees - I could earn points on several thousands of dollars each year)
An AMAZING variety of SIGNIFICANT bonus points partners (http://www.membershiprewards.com/earn)

In Australia we get
$900 annual fee
Almost no practical bonus points partners (ie no major hotel chains, Hotels.com has been cut from the program, no airlines, no major department stores)
Restrictive travel insurance
3% foreign currency fees

If one of the other posters who suggested a $600 fee is correct then it is getting closer to being good value again...

I'm not sure I can be bothered changing right now, however the CBA Diamond card is looking more attractive given the points earn (ie the same if you want QFF), the insurance (most of my international trips it won't be hard to spend $950 odd before I go), comp gold SPG membership from the World MasterCard etc etc and all for less than $500

 

[oz_mark]

I was just thinking about the fact they're double dipping. You often have to pay a surcharge to put the fares on the AMEX, then on top of that you're having a premium to have the card in the first place. Great deal, if you're AMEX that is.

The surcharge on airfares is not really a double dip on the Amex part. It is just a merchant charge, and in the case of airlines/airfares is somewhat disconnected from the actual fee incurred by the merchant.

I've got the updated policy now, and after having read through it, the TI is essentially of zero value to me (due to the PEMC clause). So, time to churn to something else. Platinum was good while it lasted, but as with most cards, over time the benefits get watered down, and it becomes time to move onto something else.

 

[turtlemichael]

I've got the updated policy now, and after having read through it, the TI is essentially of zero value to me (due to the PEMC clause). So, time to churn to something else. Platinum was good while it lasted, but as with most cards, over time the benefits get watered down, and it becomes time to move onto something else.

Same applies to me on the PEMC. My health is absolutely fine both in reality and according to the PEMC definitions in any travel insurance product except for those now in the AMEX policy.

Slightly OT but another recent change with Amex Platinum relates to the cruise benefit. Previously, if you used the card to pay for a cruise on a number of lines you got an onboard cruise benefit that ranged up to USD300.00. Now, the cruise needs to be booked through Amex Platinum Travel to qualify for the benefit. The same change has been made to Amex Platinum card versions in other countries too. You can no longer book with another agent or even with the cruise line directly. As hell will freeze over before I use that incompetent and expensive mob again another reason to have the card goes.

 

[wandersen]

What really annoys me about this is that I've had either a platinum or a centurion for 10+ years (dropped back to platinum due to little value) and just have never had to consider getting travel insurance. Now each time I travel (or on an annual basis), I'm going to have to think about. Very inconvenient !

 

[jyavenard]

This sucks big time....
I do hope people call Amex to complain about it.
It's affecting all Amex card holders (including Centurions)

Just today, I purchased a reward ticket with my frequent flyer point. All I had to worry about was paying the taxes with my amex, and I knew I was covered...

Not quite from June 15th... Must pay the full fare..

How can you justify paying $900 a year on platinum or $3400 on centurion, and you can't even get travel insurance on the frequent flyer points you accumulated by buying ticket with your amex !!

I didn't mind the card yearly fee before, because I figured it would cost me around the same amount if I had to pay for the travel insurance myself...

Guys, call amex, make a fuss.. Hopefully they will revert that (I actually would prefer that they increase the cost of the card while keeping the same features, than not dropping the cost and remove key features)

 

[haydensydney]

I'm looking forward to seeing the T&C's and Definitions used in this limitation. If it's loose, perhaps there could be some argument come claim time.

Also, I would be interested to know how ACE are aware of our purchasing habits once we submit a claim e.g. if they can see our statements real time to see if the trip "was paid for on the Amex card" or if they check with Amex or ????

 

[jyavenard]

I'm looking forward to seeing the T&C's and Definitions used in this limitation. If it's loose, perhaps there could be some argument come claim time.

Also, I would be interested to know how ACE are aware of our purchasing habits once we submit a claim e.g. if they can see our statements real time to see if the trip "was paid for on the Amex card" or if they check with Amex or ????

I made a claim once. I had to provide ACE a copy of my amex statement showing the purchase of the ticket.
Mind you, this was before the policy changed where just holding an amex plat. was sufficient to be covered

 

[awilcockson]

I'm looking forward to seeing the T&C's and Definitions used in this limitation. If it's loose, perhaps there could be some argument come claim time.

But who do you think is going to win the argument between a consumer and a big insurance company with a team of lawyers?

 

[haydensydney]

But who do you think is going to win the argument between a consumer and a big insurance company with a team of lawyers?

The Insurance Ombudsman? There are a number of avenues that a consumer can go down to fight a claim outcome (all insurers have to have dispute resolution processes in place where the decision gets escalated within the organisation).

Often Insurers pay claims to save time, cost and energy. If someone fights the definitions it would mean they know what they're on about. That, or the definitions were rubbish to being with. Most insurers have fairly watertight definitions though, whch is why i'm interested in checking out the changed Amex rules.

Note, I have the luxury of having been an Underwriter and know the insurance game fairly well

 

[awilcockson]

The Insurance Ombudsman?

lol, fair call.

Most insurers have fairly watertight definitions though, whch is why i'm interested in checking out the changed Amex rules.

One definition which is conspicuous by it's absence, is the definition of "total fare".

 

[turtlemichael]

The Insurance Ombudsman? There are a number of avenues that a consumer can go down to fight a claim outcome (all insurers have to have dispute resolution processes in place where the decision gets escalated within the organisation).

Often Insurers pay claims to save time, cost and energy. If someone fights the definitions it would mean they know what they're on about. That, or the definitions were rubbish to being with. Most insurers have fairly watertight definitions though, whch is why i'm interested in checking out the changed Amex rules.

Note, I have the luxury of having been an Underwriter and know the insurance game fairly well

The issue for me is not whether there are dispute resolution procedures or that a court might decide the definitions were flawed. I need relative certainty as to what I will be covered for before the trip. The last thing I expect most people will want to do is have to fight to get their American hospital bills paid because their accident happened to be in a cash only cab on the way from the airport to a hotel.

 

[haydensydney]

The issue for me is not whether there are dispute resolution procedures or that a court might decide the definitions were flawed. I need relative certainty as to what I will be covered for before the trip. The last thing I expect most people will want to do is have to fight to get their American hospital bills paid because their accident happened to be in a cash only cab on the way from the airport to a hotel.

Good point about knowing the coverage upfront.

I hope the Amex / Ace reps reading this (and I know they are reading) address these concerns of ours, either by way of training for their call centre operators or by a Fact Sheet or something similar...

 

[sparoz]

The Insurance Ombudsman? There are a number of avenues that a consumer can go down to fight a claim outcome (all insurers have to have dispute resolution processes in place where the decision gets escalated within the organisation).

Often Insurers pay claims to save time, cost and energy. If someone fights the definitions it would mean they know what they're on about. That, or the definitions were rubbish to being with. Most insurers have fairly watertight definitions though, whch is why i'm interested in checking out the changed Amex rules.

Note, I have the luxury of having been an Underwriter and know the insurance game fairly well

Well, I am not sure if things has changed from 10 years ago, but a family member made a claim on a car accident (written off), and the insurer refuse to pay on the grounds of negligence. We put it to the tribunal (we cannot be present an argue the case and their decision is final!), and they came back supporting the insurer because the tribunal determined that "there were no skid marks been found and therefore the driver was not applying the brakes immediately before the accident". It was well documented in our submission that it was raining at the time of the accident.