Can you really trust a “free” insurance policy?

Many credit card providers advertise “free travel insurance” in their list of benefits when selling you a credit card, but what will the “free insurance” policy really cost you?

Here are a few things to consider:

• Unless you have purchased the majority/all of your trip with the credit card you may not have cover;
• Many providers require a notification to activate the “free” insurance policy;
• Who’s covered? The main benefits sometimes only apply to the cardholder, with restricted cover available to family travelling with them;
• There is generally no cover provided for employees travelling on your behalf;
• Do you have pre-existing medical conditions—most exclude this cover;
• Medical attention overseas can be extremely expensive. Many credit card providers will cap the amount of overseas emergency medical expenses.
• Do you travel with a laptop, tablet or mobile phone? Most credit card policies exclude lost items -meaning that they only cover theft or damage. Almost no credit card travel insurance policies include items owned by a business.

If you have any concerns about your upcoming travel and what you are really covered for, please contact your local BJS office.

Fore more information on Travel Insurance:

Leisure Travel Insurance

Corporate Travel Insurance