Splitting Coverage Between Credit Card Insurance and Purchased Plan

[mnocket]

I use a Chase Saphire Reserve card for all my travel.  I'm booking a VERY expensive cruise, and the cruise cost alone will significantly exceed my card's $20K insurance coverage. My insurance concerns are heightened by the fact that this is a Crystal cruise, and I will be making a refundable payment in full at the time of booking.  My intention is to buy a policy to cover the trip costs that exceed that limit.  Are there any concerns, or traps associated with this approach?  For example, are there any problems or consequences with buying a policy, when I book the cruise, for only that portion of the cost that exceeds the $20K limit?  If my policy includes evacuation coverage, is it affected if only a portion of the total trip's costs are covered by the policy? 

Thanks

[iamtrustworthy]

On 9/24/2024 at 11:01 AM, mnocket said:

I use a Chase Saphire Reserve card for all my travel.  I'm booking a VERY expensive cruise, and the cruise cost alone will significantly exceed my card's $20K insurance coverage. My insurance concerns are heightened by the fact that this is a Crystal cruise, and I will be making a refundable payment in full at the time of booking.  My intention is to buy a policy to cover the trip costs that exceed that limit.  Are there any concerns, or traps associated with this approach?  For example, are there any problems or consequences with buying a policy, when I book the cruise, for only that portion of the cost that exceeds the $20K limit?  If my policy includes evacuation coverage, is it affected if only a portion of the total trip's costs are covered by the policy? 

Thanks

Hi mnocket,

 

This can be done, and we do it very often for our customers, but if you need pre-existing medical condition coverage for you, or a traveling companion or a non-traveling family member, it can be tricky. It's also tricky if you want the Cancel For Any Reason coverage.

 

Steve Dasseos

[CruiserFromMaine]

I did just this on a trip last year, then we had to cancel when my father-in-law passed away. We bought extra insurance for the trip cost less the Chase coverage. Our “extra” insurance covered us above the Chase card limit, and we had to claim that first and get that resolved. Once they paid, Chase paid in a week or two. 
 

Just remember that there is also an annual payout limit on Chase too. 

[subtlefantasy]

I had to buy Top Up insurance for a cruise that exceeded the 15 days covered by the credit card. When searching I did see a caution that YOU have to ensure that your initial insurance company will not be invalid if you purchase a top up from a different company.