How Does Credit Card Travel Insurance Work? - NerdWallet Australia (2024)

FAQs

How does travel insurance work with a credit card? ›

Typically, credit card travel insurance only covers the expenses that you charge to that specific card. And because different cards have different travel insurance policies, it's important to read the fine print in your card's terms and conditions to understand your coverage levels.

Credit card balance insurance benefits apply to the amount you owed on your card at the date of loss. This means the date of death, unemployment, total disability, or your critical illness diagnosis. Credit card balance insurance benefits won't cover purchases you make on your credit card after the date of loss.

You are not required to have travel insurance to visit Australia, but it is strongly encouraged. Australia's government travel authority says, “If you can't afford travel insurance, you can't afford to travel.” Medical care in Australia can be expensive for travelers and visitors.

Use the Visa insurance service for safe and comfortable travels. Holders of Visa Platinum, Visa Signature, Visa Infinite, Visa Platinum Business and Visa Signature Business premium cards will be automatically insured when traveling.

How to make a claim. If you're making a claim on your International Travel Insurance the easiest way to claim is by using the online claims portal. For claims relating to any other type of cover (including Domestic Travel Insurance), please contact our team via email or phone.

It's important to activate your international travel insurance as soon as you've booked your trip to receive comprehensive cover. Choose Activate Travel Insurance and complete the form (make sure you choose continue on the second screen).

Trip Cancellation Insurance and Trip Interruption Insurance are two types of coverage that credit cards sometimes offer. With these coverages, you could be reimbursed for all expenses that are normally non-refundable, should your trip be: cancelled before departure (cancellation insurance)

When you pay the full price of your tickets with your valid and active Visa card, you, your spouse and dependent children under 23 years of age are each automatically covered for prepaid travel and/or lodging expenses that are not recoverable if a covered trip is cancelled due to serious illness or injury, or due to ...

Whether you experience a travel delay or a medical emergency, travel insurance for Australian vacations provides valuable protection for expensive trip costs. Depending on the level of coverage you choose, reimbursem*nts recoup losses for trip cancellation, lost baggage, unexpected medical treatment and more.

Do you need insurance for tourist visa Australia? ›

Many Australian visas require you to get health insurance. Each visa is different, but generally, they will want to see proof that you've purchased adequate health cover with the minimum medical, hospital and ambulance cover.

Important: While travel insurance policies may be more comprehensive than credit card protections, it has limitations. They typically won't cover non-essential medical expenses, high-risk sports or activities, or pre-existing conditions — at least without paying for add-on coverage.

Your travel insurance should always include the following cover: medical expenses and cover for getting you home if you're injured or fall ill abroad. personal injury and cover for accidents or damage caused by you. cover for lost or damaged items.

The benefit of insuring your credit card balance is that if job loss, total disability, or loss of life occurs, your finances may be protected to a greater degree. Credit card balance protection insurance can help you make payments on your credit card if you, for example, lose your job.

The coverage provided by your credit card will depend on the date of cancellation/interruption of your trip and the expenses incurred as a result of this trip. For trip cancellation insurance, you could: be reimbursed for the non-refundable portion of your travel expenses (up to a certain limit).

In most scenarios, travel insurance reimburses you for your covered financial losses after you file a claim and the claim is approved. Filing a claim means submitting proof of your loss to Allianz Global Assistance, so that we can verify what happened and reimburse you for your covered losses.

If your trip is canceled for a covered reason, a policy will often reimburse airline tickets, hotel rooms, rental cars, tours, cruises and other prepaid, non-refundable expenses.