Which Credit Cards Offer Travel Insurance?

February 9, 2017, Written By Jason Steele

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What is the most valuable tool a traveler can carry? It could be a trusty carry-on suitcase, a high-capacity portable device charger, or just a small emergency sewing kit. But actually, the right credit card can come in extremely handy when you are traveling. Many credit cards offer valuable travel insurance policies that can reimburse you for trip delays and interruptions, and for lost or delayed baggage.

Here are three of the top credit cards that offer the best travel insurance policies:

1. Capital One Venture Rewards.

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The Capital One Venture Rewards card offers a $1 million benefit in the event of accidental death or other major injuries during travel. You also receive a baggage delay benefit of $100 per day for up to three days, as well as trip delay and trip cancellation insurance of up to $1,500. Rental car insurance is also included.

New customers earn 40,000 bonus miles, worth $400 in travel statement credits, after making $3,000 in purchases within three months of account opening. You earn double miles on all purchases, and miles are worth one cent each as statement credits toward travel expenses. As a World Elite MasterCard, you also receive access to numerous travel and shopping discounts, as well as elite status with several car rental companies. There is a $59 annual fee for this card that is waived the first year, and like all Capital One cards, no foreign transaction fees.

2. The Business Platinum Card® from American Express.

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This Business Platinum card from American Express offers a range of travel insurance policies including a baggage insurance plan covering up to $2,000 per checked bag with a combined maximum of $3,000 for checked and carry-on baggage. For New York State residents, there is a $10,000 aggregate maximum limit for all Covered Persons per Covered Trip. You also receive up to $500,000 in accidental death and dismemberment insurance when traveling on a common carrier. This card covers roadside dispatch services of minor repairs, up to four times per year. Rental car insurance is also included.

Other features include one Membership Rewards point per dollar spent, and 1.5x points for purchases of over $5,000. Double points are received for reservations made through the American Express travel web site. You also receive a 50% points bonus when you redeem your Membership Rewards points for airfare from American Express travel services. Benefits include a $200 annual airline fee credit, and a $100 credit toward the application fee for the Global Entry program, which includes TSA Pre-Check. You also receive airport business lounge access to the Delta SkyClubs, Priority Pass Select network, and the American Express Centurion clubs. There is a $450 annual fee for this card, and no foreign transaction fees.

3. Citi Prestige® Card.

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The Citi Prestige card offers an exceptionally wide range of travel insurance policies. For example, you receive $100,000 of medical evacuation insurance. It also features up to $5,000 of trip cancellation and trip interruption insurance, per covered traveler, per trip. Trip delay insurance covers you for $500 per traveler when your trip is delayed by at least three hours. A baggage delay plan covers you for $500 of expenses per traveler per trip when your baggage is delayed. And if your baggage is lost, it will cover you for $3,000 per bag  ($2,000 per bag for  New York Residents), with a maximum benefit of $10,000. A roadside dispatch service will cover minor services such as towing within 10 miles, jump starts, and flat repairs. You also receive $1 million of travel accident insurance. Worldwide rental car insurance is also included.

This card offers 3x points for all air travel and hotel purchases, 2x points for dining and entertainment charges, and one point per dollar spent elsewhere. Points are earned in Citi’s ThankYou rewards program, which can be redeemed for travel reservations, gift cards and merchandise. Alternatively, you can transfer your points to airline miles or hotel points. Another valuable benefit is a fourth night free when you book three consecutive hotel nights through Citi’s travel agency. There is a $450 annual fee for this card, and no foreign transaction fees.

The information contained within this article was accurate as of February 9, 2017. 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