CC Cover

[bohaiboy]

My CC will cover $10k per person up to a total of $20k for a single trip (once within 12 months)  Is it acceptable to take out the rest from an insurance provider to cover the rest?  Our total cost including air is $32,000, so was think if taking out remaining $12,000 with an independent company.  

[jclinard]

I'd read the policy from your CC, and any policy you think might cover you. 

 

See if what events you think will apply to you is a covered reason, or not.  

 

See how messy it might get in trying to collect from two different insurance companies.

 

Only take recommendations from people who have collected on a claim.  Don't take recommendations from people who only know how fast they deposited the premiums.

 

Be very careful in taking recommendations from somebody with a financial interest in selling a policy.

 

Read the BBB reviews of any company you consider.

 

Don't end up being a sucker like I was.

 

 

[klfrodo]

Depends on many factors to include the Terms and Conditions of the policy itself, and what the laws of your State allow an insurance provider to do or not do.

[Philob]

Unless one of your insurance companies provides "primary" coverage they will both be pointing at each other to be the primary. Primary = the one who pays first.

 

Credit card policies tend to be more restrictive in what they cover and under what conditions.

[kctwinmommy]

I was just coming to post this same question! We have the Costco Citicard and are putting our Viking cruise on it. I know they cover several things, but not sure if that's all we want to rely on!? It's a little confusing to me, so I'm just trying to figure out what we need. I want to make sure we're covered in case something serious happens, but also don't want to overspend on it either.

 

I have to keep researching and finding out more information it seems. I also had thought about getting an independent policy just to keep things simple and easy.

[Philob]

13 hours ago, kctwinmommy said:

I was just coming to post this same question! We have the Costco Citicard and are putting our Viking cruise on it. I know they cover several things, but not sure if that's all we want to rely on!? It's a little confusing to me, so I'm just trying to figure out what we need. I want to make sure we're covered in case something serious happens, but also don't want to overspend on it either.

 

I have to keep researching and finding out more information it seems. I also had thought about getting an independent policy just to keep things simple and easy.

I think C only use one insurance company. If you go to an insurance broker like the ones mention on this forum you'll get comparisons between multiple companies and an actual IRL broker to ask questions and get answers.

[kctwinmommy]

3 hours ago, Philob said:

I think C only use one insurance company. If you go to an insurance broker like the ones mention on this forum you'll get comparisons between multiple companies and an actual IRL broker to ask questions and get answers.

I'm sure they do only use one. I'm trying to make sure I know what we would need for a secondary policy, as in, what's NOT covered by the Citi card, and can we get a policy to cover just those things. And I want to make sure dealing with two separate companies won't be a problem. Which is why we may end up just getting 1 policy.

[Jersey42]

42 minutes ago, kctwinmommy said:

I'm sure they do only use one. I'm trying to make sure I know what we would need for a secondary policy, as in, what's NOT covered by the Citi card, and can we get a policy to cover just those things. And I want to make sure dealing with two separate companies won't be a problem. Which is why we may end up just getting 1 policy.

As others have said, this can be much more complicated than you want it to be or it should be.  That said here are a few thoughts.

 

First get a copy of your current credit card guide to benefits to make sure you actually have travel insurance benefits.  If so, read it and make sure you pay special attention to pre-existing conditions, covered reasons for cancellation/interruption, and requirements to coverage.  The Costco Anywhere Visa® Cards By Citi dropped the travel insurance benefit several years ago.  So unless you have a different card, or you are grandfathered in, you may have no travel insurance benefit.

 

Then call a good travel insurance broker such as TripInsuranceStore  and ask them the question.  They probably will not know much about your credit card, but that is why you need a copy of the benefits in front of you.

 

Things that I would be concerned about include:

• All credit card insurance that I have seen exclude coverage for pre existing conditions for travelers and non-traveling family members with a minimum 60 day lookback period. Most third party policies do not include non-traveling family members and you can often gat a waiver of pre-existing conditions.  Just be sure you understand exactly what this means.
• Many, but not all, third party policies require you insure the full non-refundable cost of your trip in order to waive the pre-existing conditions exclusion.  If pre-existing conditions might be an issue, then choices of third party policies are much more limited.
• Most credit card coverage is secondary to any other insurance.  Some third party plans are also worded like this.  I can see one insurance company not wanting to consider a claim until they can see what the other one has paid.  If both insurers take the same position I have no idea how you resolve it.
• The list of covered reasons for most credit card coverage is shorter than ones on most third party plans.  Make sure you understand the differences and are you comfortable with those differences.
• Credit cards offer very minimal or no medical and medical evacuation coverage.  Unless you already have good foreign travel coverage, make sure the third party plan will give you the needed coverage and you meet their requirements.  This is another area where some plans may want you to insure the full trip cost.

 

There are probably more potential issues, which is why a good broker can be invaluable.  Good luck and let us know your end result.