Best Credit Cards For Baggage Insurance Coverage

September 20, 2016, Written By Jason Steele

LowCards is a Citi partner. These offers, valid when the article was written, may have expired. View our full editorial disclaimer here.

Assuming a safe arrival, every traveler’s worst nightmare is to have their baggage lost, stolen or significantly delayed. In the best case scenario, you might have to waste your limited vacation time shopping for new items, and at worst, you might not be reimbursed for the full value of your losses. Anyone who has ever had a bag lost knows it can be extremely difficult to get the airlines to reimburse you for the replacement value of your luggage and its contents.

After you have replaced lost items and submitted your receipts, you might still have losses that you haven’t been compensated for. Thankfully, there are some credit cards that offer baggage insurance that can supplement any reimbursement offered by the airlines. When you use a credit card that offers this benefit, the coverage applies every time you pay for your ticket with your card. Be sure to examine the terms and conditions of your credit card’s baggage insurance policy.

Here are four of the best credit cards for baggage insurance:

Capital One Venture Rewards

card image
As part of the Visa Signature program, the Capital One Venture Rewards card offers a lost luggage reimbursement policy that covers your checked and carry-on bags for $3,000 per trip, (for New York residents, coverage  is limited to $2,000 per bag). This coverage is offered in excess of what the carrier offers first. To file a claim, call the Benefit Administrator at 1-800-757-1274.

The Capital One Venture Rewards card features a 40,000 mile sign-up bonus for new applicants who use their card to spend $3,000 within three months of account opening, and you can also earn two miles per dollar spent on all purchases. Each mile is worth one cent in statement credits toward travel purchases including airfare, hotels, car rentals and other travel reservations. There is a $59 annual fee for this card that is waived the first year, and as with all Capital One cards, there are no foreign transaction fees.

Citi/AAdvantage Platinum Select World Mastercard

card image
The Citi® AAdvantage® Platinum Select World Elite Mastercard® has a number of high quality perks that stand out from the competition. The card is tied in to American Airlines. Cardholders receive double AAdvantage miles on eligible purchases on American Airlines, and one mile on all other transactions. Cardholders also get 50,000 bonus AAdvantage miles after spending $2,500 in the first three months of your membership. The first checked bag is free on domestic American Airlines itineraries for you and up to four companions traveling with you on the same reservation. The card’s $95 fee is waived for the first year and you receive 25% savings on eligible in-flight food and beverage purchases. There are no foreign transaction fees on this card, a big perk for international travel. The only drawback to this card is that it is difficult to obtain-it was made for those with stellar credit scores.

JetBlue Plus Card

The JetBlue Plus CardThe JetBlue Plus card comes with a baggage delay insurance that will reimburse you for up to of $100 per day for three days in the event of a baggage delay, and coverage is limited to $300 in a 12-month period.

It also offers new applicants 30,000 bonus points after they spend $1,000 on purchases within 90 days of account opening. JetBlue’s TrueBlue points never expire and can be redeemed for any seat at any time on JetBlue-operated flights. You also get 10% of your points back each time you redeem, and a 50% savings on in-flight purchases. You will receive a 5,000 point bonus each year on your account anniversary.

New cardholders also enjoy 12 months of interest-free financing on balance transfers, with a 3% balance transfer fee. There is a $99 annual fee for this card, and no foreign transaction fees.

Business Green Rewards from American Express OPEN

card image
American Express offers several kinds of baggage insurance on its Business Green Rewards card. First, it offers $1,250 in coverage for loss or theft of carry-on bags. It also covers checked bags for up to $500 in losses. There is also a high-risk items benefit that covers a maximum of $250 towards items such as jewelry, sporting equipment, photographic or electronic equipment and computers or audio/visual equipment.

With the Business Rewards Green from American Express OPEN card, you earn 5,000 Membership Rewards points after your first purchase with the card. You also earn one point per dollar spent on most purchases, and double points for reservations booked through the American Express travel website. American Express points can be redeemed for merchandise, gift cards and travel reservations. or transferred to frequent flyer miles with 17 different airlines. Therefore, these points can be extremely valuable when transferred to miles and redeemed for expensive last minute tickets or reservations in business or first class.

There is no preset spending limit for this card, and it is a charge card, not a credit card. This means that business owners are expected to pay each month’s statement balance in full.  However, American Express does offer the Pay over Time option for certain charges. There is a $95 annual fee for this card that is waived the first year.

The information contained within this article was accurate as of September 20, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Jason Steele

Jason Steele is freelance journalist and an expert on the credit card industry. He contributes to several of the top personal finance sites, and his work is syndicated to mainstream outlets such as MSN Money, Yahoo! Finance, and Business Insider.
View all posts by Jason Steele