Credit Cards With Free Travel Insurance

Compare credit cards offering free travel insurance for both domestic and international travel.

By   |   Updated 9 Sep 2024

As seen on

Media - The Sydney Morning Herald
Media - Yahoo Finance
Media - News.com.au
Media - Daily Mail Australia
Media - Australian Fintech
Media - Dynamic Business

Comparing credit cards with free travel insurance

Citi Rewards 100,000 Bonus Citi Reward Points Offer

On website

This product is provided by National Australia Bank Limited, using certain trademarks under license from Citigroup Inc.

Featured

Citi Rewards 100,000 Bonus Citi Reward Points Offer

Interstate flight inconvenience

No

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$99.00 for 1st year

Highlights

  • Receive 100,000 bonus Citi reward Points after spending $5,000 on eligible purchases within the initial 3 months days from approval. Terms and Conditions apply.
  • The initial year presents a discounted annual fee of $99 ($199 p.a. thereafter).
  • Comes with complimentary mobile phone insurance. See Terms and Conditions here.

Pros

  • Earn 100,000 bonus points when you meet the criteria.
  • Discounted annual fee.
  • You can shop and use your points to receive a credit back.
  • 10% off Limited Time LUX Exclusive hotel offers (up to $250 per booking) booked by 1 March 2025.

Cons

  • No ongoing introductory balance transfer or purchase offer.
American Express Platinum Business Card

Apply by 5 November 2024

American Express Platinum Business Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$1,750.00 p.a. ongoing

Highlights

  • Obtain 350,000 bonus Membership Rewards points by applying before 5 November 2024, getting approved, and spending $12,000 on your card within the initial 3 months. Exclusive to New American Express Card Members.
  • Earn up to 2.25 pts per $1 spent.
  • Enjoy exclusive Platinum travel, experience, and dining privileges.

Pros

  • The offer of 350,000 bonus Membership Rewards points when you meet the criteria.
  • Earn up to 2.25 pts per $1 spent and 1 point per $1 spent at the ATO.
  • Access to more than 1,400 lounges globally, including The Centurion® Lounge.
  • Gold status match at Marriott Bonvoy, Hilton Honors, and Premium status at Radisson Hotel Group.
  • Get the Amex Experiences App to access information on Platinum benefits, travel offers, events and recommended merchants.

Cons

  • The annual fee of $1,750 p.a.
  • Since this is a charge card, the balance must be cleared every statement.
  • No balance transfer facility.
American Express Business Explorer Credit Card

American Express Business Explorer Credit Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$149.00 p.a. ongoing

Highlights

  • Earn 50,000 Bonus Membership Rewards Points when you apply online, are approved, and spend at least $3,000 within 3 months of approval. Exclusive to new American Express Card Members.
  • Benefit from two Centurion Lounge passes per year at Sydney and Melbourne airports.
  • Receive Complimentary Travel Insurance when paying for your return trip with your Card.

Pros

  • Earn up to 2 points per $1 spent.
  • No fee for up to 99 employee cards.
  • Up to 55 interest-free days.

Cons

  • The annual fee of $149.
  • There is no balance transfer offer for this card.
  • Cash advances are blocked, which might be inconvenient for some.
American Express Gold Business Card

American Express Gold Business Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$169.00 p.a. ongoing

Highlights

  • Acquire 75,000 bonus Membership Reward points upon application approval and spending $1,000 on your card within the initial 2 months. Exclusive to New American Express Card Members.
  • Earn up to 1.5 Membership Rewards points for every $1 spent.
  • Experience enhanced flexibility with no pre-set spending limit.
  • Benefit from Travel Insurance covering up to $2.5 million in medical emergency expenses.

Pros

  • Receive 75,000 bonus Membership Reward points when you meet the criteria.
  • Earn up to 1.5 Membership Rewards points for every $1 spent.
  • No cap on how many points you can earn.
  • No pre-set spending limit means more flexibility.
  • Spend with Dell Technologies to receive up to $75 credit until 31 December 2024.
  • Membership Rewards points can be transferred to a number of airlines, giving you options when booking travel.

Cons

  • The $119 fee for every additional card added.
  • Doesn't offer airport lounge access.
  • No access to concierge services.
American Express Velocity Business Card

Apply by 6 November 2024

American Express Velocity Business Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$249.00 p.a. ongoing

Highlights

  • Get 150,000 Bonus Velocity Points upon applying by 6 November 2024, getting approval, and fulfilling the minimum spending requirement of $5,000 within 2 months of approval. Plus join the Virgin Australia Business Flyer program and enjoy a $250 Virgin Australia Business Flyer Travel Bank credit when you meet the eligibility criteria. The offer is valid for New American Express Card Members exclusively.
  • Accumulate 2 points for every $1 spent on Virgin Australia services and up to 1 point per $1 spent on other transactions. Earn 0.5 points per $1 on ATO and government expenditures.
  • Benefit from 2 complimentary single-entry passes to the Virgin Australia Lounge at chosen domestic airports annually.

Pros

  • Receive 150,000 bonus Velocity Points when you meet the criteria.
  • Earn up to 2 Velocity Points per $1 spent.
  • No pre-set spending limit and up to 51 days to pay for purchases.

Cons

  • The annual fee of $249 p.a.
  • Each employee card costs $99.
Bankwest Breeze Platinum Mastercard

On website

Bankwest Breeze Platinum Mastercard

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$69.00 p.a. ongoing

Highlights

  • Experience 0% p.a. interest on balance transfers for 12 months (with a 2% BT fee, then 12.99% p.a.).
  • 0% p.a. for 12 months on purchases (reverting to 12.99% p.a.).
  • Benefit from up to 55 interest-free days.
  • Offer exclusively for new customers within a specified period. Additional charges, along with terms and conditions, apply.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • 0% p.a. for 12 months on purchases.
  • No foreign transaction fees. Plus, complimentary overseas travel insurance for you and your family.

Cons

  • There is no rewards program on this card.
  • There is a 2% BT fee.
American Express Explorer Credit Card

American Express Explorer Credit Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$395.00 p.a. ongoing

Highlights

  • Obtain 50,000 Bonus Membership Rewards Points upon application approval and spending $4,000 on your new Card within the initial 3 months. T&Cs apply. Exclusive to New Amex Card Members.
  • Enjoy a $400 Travel Credit annually for flights, hotels, and car rentals when booked online using this card.
  • Benefit from complimentary domestic and international travel insurance coverage.

Pros

  • The 50,000 bonus Membership Rewards Points when approved and reach spend requirement within the first 3 months.
  • Receive a $400 travel credit every year.
  • Earn 2 Membership Rewards points per $1 spent on purchases except for government bodies in Australia where you will earn 1 point per $1 spent (uncapped).
  • Get two complimentary entries per year to The Centurion® Lounge.

Cons

  • The $395 p.a. annual fee.
The Qantas American Express Premium Card

The Qantas American Express Premium Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

N/A

Annual fee

$249.00 p.a. ongoing

Highlights

  • Obtain 20,000 bonus Qantas Points upon online application approval and spending $3,000 within 3 months. Exclusive to New Amex Card Members.
  • Enjoy 2 complimentary Qantas Club invitations annually (conditions apply).
  • Benefit from complimentary domestic and international travel insurance coverage.

Pros

  • 20,000 bonus Qantas points for signing up and hitting the spending target.
  • Earn points on your everyday spend. Also earns points at a reduced rate on government spend.
  • Give up to 4 of your friends and family a card — at no extra cost — to earn more points.
  • $450 Qantas Travel Credit, which is fairly easy to trigger with your first Qantas purchase each year.
  • Comes with complimentary card purchase cover and travel insurance.

Cons

  • There is an annual fee of $249.
  • The purchase rate is quite high, but can be avoided with responsible use.
  • No balance transfer facility.
Qantas Premier Platinum Credit Card

On website

Qantas Premier Platinum Credit Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$349.00 for 1st year

Highlights

  • Get up to 100,000 bonus Qantas Points. Get 70,000 bonus Qantas Points upon spending $3,000 or more on eligible purchases within 3 months from card approval. Plus, an extra 30,000 bonus points if you haven't earned Qantas Points with a credit card in the past 12 months. Terms and Conditions apply.
  • Benefit from 0% on Balance Transfer for 12 months with a 2% Balance Transfer fee. Returns to Cash Advance rate thereafter. No interest-free days are applicable on retail purchases with an outstanding balance transfer.
  • Benefit from the reduced annual fee of $349 p.a. for the initial year. An ongoing annual fee of $399 p.a. is applicable in the 2nd year.

Pros

  • Earn up to 100,000 bonus Qantas Points when you meet the criteria.
  • 0% p.a. for 12 months on balance transfers.
  • Additional savings with the $349 first-year annual fee.
  • Comes with complimentary travel insurance.

Cons

  • The annual fee increases to $399 p.a. after the initial year.
  • There is a 2% balance transfer fee.
NAB Qantas Rewards Signature Credit Card

On website

NAB Qantas Rewards Signature Credit Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$295.00 for 1st year

Highlights

  • Gain up to 120,000 bonus Qantas Points. Acquire 90,000 bonus points upon spending $3,000 within the initial 60 days from account approval date and an additional 30,000 bonus points upon maintaining your card open for over 12 months. Terms and conditions apply.
  • Benefit from 0% on balance transfers for 12 months with a 3% Balance Transfer Fee.
  • First-year annual fee reduced to $295 p.a. from $395 p.a. (saving you $100).

Pros

  • Complimentary Qantas Frequent Flyer membership fee valued at $99.50.
  • Six complimentary insurances when you make an eligible purchase.
  • Earn 1 Qantas Point per $1 spent on everyday purchases up to $5,000 per statement period then 0.05 pts per $1 spent thereafter (capped at $20,000).

Cons

  • Annual fee of $395 p.a. is quite high.
Westpac Altitude Black Credit Card (Altitude)

On website

Apply by 30 November 2024

Westpac Altitude Black Credit Card (Altitude)

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$150.00 for 1st year

Highlights

  • Earn up to 150,000 bonus Altitude Points. Receive 100,000 Altitude bonus points by spending $6,000 on eligible purchases within 120 days of card approval. Additionally, get 50,000 points after your first eligible purchase in year 2. Exclusions apply.
  • Initial $150 p.a. annual fee ($295 p.a. thereafter), applicable to new cardholders only.
  • Earn 6 Altitude points per $1 on Qantas, Jetstar, Singapore Airlines, and Emirates flights bought in Australia, subject to eligibility criteria.

Pros

  • Earn up to 150,000 bonus Altitude Points when you meet the criteria.
  • Additional savings with the $150 first-year annual fee ($295 p.a. thereafter).
  • Earn 1.25 points per $1 spent on eligible purchases
  • Get 2 complimentary lounge passes each year with Priority Pass.

Cons

  • The high annual fee of $295 p.a. after the initial year.
Westpac Altitude Platinum Credit Card (Qantas)

On website

Apply by 30 November 2024

Westpac Altitude Platinum Credit Card (Qantas)

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$119.00 for 1st year

Highlights

  • Receive up to 80,000 bonus Qantas Points. Acquire 60,000 Qantas Points in the first year upon spending $4k+ on eligible purchases within the initial 90 days from new card approval, and an additional 20,000 points after your first eligible purchase in the second year..
  • Initial $119 p.a. annual fee followed by $175 p.a. thereafter (Plus a $75 Qantas Rewards opt-in annual fee).
  • Earn 0.5 Qantas points per $1 spent on eligible purchases.

Pros

  • Receive up to 80,000 bonus Qantas Points when you meet the criteria.
  • Additional savings with the $119 first-year annual fee ($175 p.a. thereafter).
  • Comes with complimentary insurance covers which include overseas medical and purchase security.

Cons

  • Only up to 45 days interest-free on purchases.
BankSA Amplify Signature Credit Card (Amplify)

On website

Apply by 30 November 2024

BankSA Amplify Signature Credit Card (Amplify)

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$199.00 for 1st year

Highlights

  • Earn up to 150,000 Bonus Amplify Rewards Points over 2 years when you spend $12,000 on eligible purchases within the first 12 months from card approval.
  • $199 p.a. annual fee for the first year ($295 p.a. annual fee thereafter).
  • Includes complimentary overseas travel insurance for up to 6 months

Pros

  • Enjoy 2 complimentary Priority Pass lounge visits each year when you enroll in Priority Pass.
  • The 150,000 bonus Amplify Rewards Points.
  • $199 p.a. annual fee for the first year ($295 p.a. annual fee thereafter).
  • Includes complimentary overseas travel insurance for up to 6 months

Cons

  • There is no promotional balance transfer offer at the moment.
  • The annual fee reverts to $295 p.a. after the initial year.
Bank of Melbourne Amplify Platinum Credit Card (Qantas)

On website

Apply by 30 November 2024

Bank of Melbourne Amplify Platinum Credit Card (Qantas)

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$99.00 for 1st year

Highlights

  • Up to 50,000 bonus Qantas Points earned upon spending $3,000 on eligible purchases within 90 days from card approval. Exclusions apply.
  • Pay an annual fee of $99 for the first year ($124 thereafter).
  • Earn 0.5 points per $1 spent (uncapped).

Pros

  • The 50,000 bonus Qantas Points.
  • Discounted annual fee on the first year.
  • Complimentary travel and purchase insurance.

Cons

  • Points earning rate of 0.5 points is lower than others.
St.George Amplify Platinum Credit Card (Qantas)

On website

Apply by 30 November 2024

St.George Amplify Platinum Credit Card (Qantas)

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$99.00 for 1st year

Highlights

  • Up to 50,000 bonus Qantas Points earned upon spending $3,000 on eligible purchases within 90 days from card approval. Exclusions apply.
  • Pay an annual fee of $99 for the first year ($124 thereafter).
  • Earn 0.5 points per $1 spent (uncapped).

Pros

  • The 50,000 bonus Qantas Points.
  • Discounted annual fee on the first year.
  • Complimentary travel and purchase insurance.

Cons

  • Points earning rate of 0.5 points is lower than others.
Bendigo Bank Qantas Platinum Credit Card

On website

Bendigo Bank Qantas Platinum Credit Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$149.00 p.a. ongoing

Highlights

  • Accrue 0.6 Qantas Points for every $1 spent.
  • Benefit from 180 days of thorough travel insurance.
  • Comes with an extended warranty for eligible purchases and 90-day purchase protection for items stolen or accidentally damaged (terms apply).

Pros

  • Earn 0.6 Qantas Points per $1 spent.
  • Free Qantas Frequent Flyer membership.
  • 180 days of comprehensive travel insurance.
  • Up to 55 days interest-free.

Cons

  • There is no introductory balance transfer offer or purchase rate offer.
  • The 20,000 cap on reward earnings per statement period.
  • ATO spend does not earn points.
HSBC Platinum Credit Card

On website

HSBC Platinum Credit Card

Interstate flight inconvenience

No

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$0.00 for 1st year

Highlights

  • Utilize the 0% p.a. offer on balance transfers for 12 months alongside a 2% balance transfer fee.
  • Experience the inaugural year with no annual fee, followed by $149 annually thereafter.
  • Accrue 2 Reward Plus points per $1 spent on qualifying overseas purchases and 1 Reward Plus point per $1 spent on other eligible purchases.
  • Maintain a minimum credit limit of $6,000.

Pros

  • 0% p.a. on balance transfers for 12 months.
  • $0 annual fee for the first year.
  • Enjoy 2 airport lounge passes every year.
  • Benefit from HSBC Instant Savings with exclusive dining and shopping discounts.
  • Includes complimentary travel and purchase protection insurance.
  • Choice of points transfer partners (Asia Miles, KrisFlyer, Velocity Frequent Flyer).

Cons

  • The balance transfer rate reverts to 21.99% p.a. after 12 months.
  • 2% balance transfer fee.
  • The 10,000 points cap per statement period.
ANZ Qantas Business Rewards Credit Card

On website

ANZ Qantas Business Rewards Credit Card

Interstate flight inconvenience

No

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$300.00 p.a. ongoing

Highlights

  • Get 130,000 bonus Reward Points upon spending $6,000 on eligible purchases within the initial 3 months after approval.
  • Earn 0.75 Reward Points per $1 spent on eligible purchases up to and including $15,000 per statement period. Earn 0.5 Qantas Points for every $1 over $15,000.
  • Receive complimentary Unauthorized Transactions Insurance, Domestic and International Travel Insurance.

Pros

  • Substantial sign-up bonus for new qualifying customers.
  • Earn up to 0.75 Point per $1 spent on eligible business purchases.
  • Tax payments to the ATO also earn points.
  • Points can be transferred to several different airline frequent flyer programs.
  • Comes with complimentary international travel insurance.
  • Also has unauthorised transaction insurance.
  • Cardholders have access to ANZ's concierge service.
  • Add unlimited cardholders for free to share the account with staff.
  • Works with Apple Pay, Google Pay, and Samsung Pay, making payments more convenient.
  • Get a data feed for Xero, MYOB, and QuickBooks, making accounting and bookkeeping more streamlined.

Cons

  • The card's ongoing annual fee is $300 p.a.
  • Transactions made in a foreign currency or online attract a 3% fee.
  • No introductory purchase offer and interest is charged at 20.24% p.a.
  • No balance transfer offer.
  • Earn rate drops after $15,000 spent per statement period.
Heritage Platinum Credit Card

On website

Heritage Platinum Credit Card

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$125.00 p.a. ongoing

Highlights

  • Enjoy 0% p.a. for 12 months on balance transfers with no balance transfer fee on amounts transferred (reverting to 19.99% p.a. thereafter).
  • The annual fee of $125 p.a. is waived when you spend $35,000 or more.
  • Earn 3 Heritage Credits for every $1,500 spent per calendar month.

Pros

  • 0% p.a. for 12 months on balance transfers with no balance transfer fee on amounts transferred.
  • Includes International Travel Insurance, Interstate Flight Inconvenience Insurance, Transit Accident Insurance, Purchase Cover Insurance, Extended Warranty Insurance, and Guaranteed Pricing Scheme.
  • Platinum-level concierge service, available round the clock.

Cons

  • Other cards offer a better rewards points earn rate ratio.
  • Ongoing interest rates are about average.
IMB Platinum Mastercard

On website

IMB Platinum Mastercard

Interstate flight inconvenience

Yes

International travel insurance

Yes

Personal item theft cover

Yes

Annual fee

$129.00 p.a. ongoing

Highlights

  • Experience 0% for 24 months on Balance Transfers with a 0% balance transfer fee. Reverts to the cash advance rate of 21.74% p.a.
  • Receive 20,000 rewards points when you spend $3,000 or more on eligible purchases within 3 months of approval.
  • Earn 1 reward point for every $1 spent on Eligible Transactions.

Pros

  • Enjoy 0% for 24 months on Balance Transfers with a 0% balance transfer fee.
  • Receive 20,000 bonus reward points when you meet the criteria.
  • Includes complimentary International Travel Insurance, Interstate Flight Inconvenience Insurance, Purchase Cover Insurance, and Guaranteed Pricing Scheme.

Cons

  • The ongoing annual fee of $129 p.a.
  • Ongoing rates on purchases are average.
ING Orange One Rewards Platinum Credit Card

On website

ING Orange One Rewards Platinum Credit Card

Interstate flight inconvenience

No

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$149.00 p.a. ongoing

Highlights

  • Receive up to $30 cashback on your monthly spend (up to $360 annually).
  • Enjoy a 16.99% p.a. variable rate on purchases.
  • Secure low interest rates with instalments.
  • Includes complimentary travel insurance. Terms, conditions, limits, and exclusions apply.

Pros

  • Get up to $30 cashback per month, up to $360 each year.
  • Relatively low interest rate of 16.99% p.a. on cash advances and purchases.
  • An instalment plan that helps lock up lower interest rate (9.99% p.a.).

Cons

  • Interest-free 45 days is lower than most cards offering up to 55 days.
  • You need an Orange Everyday account or open one to get this credit card.
  • A lot of requirements to become eligible for ATM fee rebates and foreign transaction fee waivers.
Qudos Bank Visa Platinum Credit Card

On website

Qudos Bank Visa Platinum Credit Card

Interstate flight inconvenience

No

International travel insurance

Yes

Personal item theft cover

No

Annual fee

$199.00 p.a. ongoing

Highlights

  • 4.99% p.a. for 5 months on balance transfers, and purchases. Reverts to 19.49% p.a.
  • Up to 55 interest-free days on purchases.
  • Earn 1 Qantas Point per $1 spent on eligible purchases.

Pros

  • Earn 1 Qantas Point for every $1 spent on eligible purchases.
  • Complimentary overseas travel insurance.
  • 24/7 worldwide Visa Premium Concierge Service.
  • Works with most of the major digital wallets.

Cons

  • $199 p.a. annual fee.
  • There is a 3.65% foreign conversion fee.

Credit cards with free travel insurance can provide emergency medical cover, trip cancellation protection, lost luggage reimbursement, and more without purchasing a separate travel insurance policy. They are perfect forfrequent flyers who want ease of mind before their next trip.

David Boyd, co-founder of Credit Card Compare

David Boyd, co-founder of Credit Card Compare, explains, "When we had a medical emergency abroad on a company trip, the first thing that came into my mind was to call my credit card's concierge. My card had a travel insurance policy and their assistance really helped us through what was a very stressful time."

How credit cards with free travel insurance work

Most credit card travel insurance policies do not come into effect unless certain requirements have been met. Typically the cardholder must use the card to pay for tickets or a certain amount of travel expenses in order to activate the travel insurance coverage for that trip or for a period of time starting on the date you leave for your travels.

The specifics of the coverage and eligibility criteria may vary depending on the credit card issuer and the type of card you hold, so if you are travelling and are relying on your card's travel policy alone, make sure you are clear about who and what the policy covers and its terms and conditions.

Most credit card travel insurance policies do not cover pre-existing medical conditions.

Benefits of credit cards with free travel insurance

  • Cost savings: By having travel insurance included as a complimentary credit card benefit, you can save on the cost of purchasing a separate travel insurance policy.
  • Convenience: You do not need to buy travel insurance separately because it is automatically included with your credit card, although you are free to do so.
  • Comprehensive coverage: Credit cards with free travel insurance often come with a range of coverage benefits that can protect you against various travel-related risks and emergencies, including medical and medivac.
  • Added perks: In addition to travel insurance, these credit cards may offer other perks like airport lounge access, concierge services, and more.

Help choosing a credit card with free travel insurance

Learn more about how complimentary credit card travel insurance works.

  • FAQs

  • Pros & cons

  • Alternatives

What does credit card free travel insurance cover?

The coverage provided by credit cards with free travel insurance can vary but may include benefits such as emergency medical assistance, trip cancellation or interruption coverage, lost luggage reimbursement, and rental car insurance.

What activates a credit card's travel insurance coverage?

To activate the travel insurance coverage on your credit card, you may need to meet certain requirements such as using the card to pay for a portion of your travel expenses or pre-registering your trip with the card

Is credit card travel insurance good enough to travel on?

While the travel insurance offered by credit cards can provide valuable coverage, it is essential to assess whether the benefits meet your specific travel needs. Depending on your destination and the nature of your trip, you may need additional or specialised travel insurance coverage.

Is credit card travel insurance worth it?

Pros

Cost savings on buying separate travel insurance

Travelling on the complimentary travel insurance provided by credit cards can save money, eliminating the need to purchase travel insurance separately. However, read what exactly is covered by your policy and how it is activated. You may need a more customised policy, especially if you plan on partaking in any adventure activities while away.

Family coverage

Many credit cards extend the travel insurance benefits to include immediate family members of the cardholder. This ensures that your partner and dependent children are covered under the same policy when they travel with you, provided they meet the eligibility criteria.

  • Spouse: When travel cover extends to the spouse, this includes your wife or husband, spouse, or de-facto partner that permanently lives with you. You may be asked for proof of the relationship. Certain policies may require you to have been living with your partner for some months prior to the journey.
  • Dependent children: Typically this means children 18 years or younger. However, some policies may extend their cover to include children up to 24 years old, provided they are enrolled in full-time education or are living with you.

Parents and siblings of unmarried cardholders are typically not covered under credit card travel insurance, even though they are your immediate family members.

To clarify, read the terms and conditions on your card relating to exactly who is covered by your card's travel insurance, and to what extent.

Reputable insurance providers

Credit card travel insurance policies are typically underwritten by well-established and globally recognised insurance companies, assuring comprehensive coverage and a reliable claim process should that be necessary.

Convenience and accessibility

Activation of the credit card travel insurance policy is typically straightforward, usually requiring the cardholder to use the credit card for booking the trip (although specifics of this may vary).

Additional travel benefits

Besides insurance, these credit cards may offer other travel-related perks to enhance their overall value for travelers. Depending on the credit card, perks may include:

  • earning rewards points;
  • access to airport lounges and concierge services;
  • no foreign currency transaction fees.

Cons

Duration limitations

The coverage provided by credit card travel insurance is usually capped at a maximum trip length, which may not accommodate longer travels or indefinite journeys, limiting its applicability for extended holidays or one-way trips.

If you are taking a longer trip, you may want to consider taking out a separate, customised medical and travel insurance policy — or policies — to cover your specific needs.

Lack of customisation

The ability to customise the policy's coverage to include specific needs, such as extreme sports or additional medical coverage, is typically unavailable on credit card travel insurance.

If you have concerns over medical emergencies arising from pre-existing conditions, you may want to get a customised travel insurance policy that suits your needs.

Associated costs

Credit cards that offer comprehensive travel insurance benefits typically come with higher annual fees compared to basic cards. Additionally, if the travel expenses charged to the card are not paid off promptly, interest charges can accrue, increasing the overall cost.

Activation requirements

The insurance coverage on your credit card does not automatically apply in all cases. You typically need to meet certain conditions before you can activate the insurance cover, usually spending a minimum amount or booking the entire trip with the credit card. This may not always be feasible if your available credit is low.

Generic coverage

Standard credit card travel insurance coverage probably won't meet the specific needs of every traveller, particularly in complex situations and for people with pre-existing conditions that may require higher levels of protection.

Standalone travel insurance policy

If you are in any doubt whether the free travel insurance offered by a credit card will cover your particular travel plans, it may be worth taking out a separate policy. This is particularly relevant if you are going skiing, surfing, diving, or partaking in other adventure activities classed as high risk.