The pros of travel insurance benefits through your credit card

When comparing different credit cards, you are bound to come across more than a few that offer travel insurance benefits. These benefits can be extremely helpful in times when things don't necessarily go your way. Here are the main pros of opting for these kinds of credit cards.

Trip cancellation and interruption

Sometimes our travel arrangements don't quite go according to plan. If your trip is canceled (for whatever reason), your insurance comes in handy to cover the non-refundable portion of the amount you have already paid. This means that any cancellation penalties or deposits will not be lost. Trip interruption coverage takes care of costs that result from you having to return home sooner than your scheduled trip back. The amount covered will depend on the terms of the credit card.

Travel delays

Sometimes your travels can be delayed for reasons beyond anyone's control. Whether due to weather or security issues, you could be expected to wait a few hours or even days. During this time you will need to spend money on meals and possibly accommodation as well. These basic and essential expenses are covered by your insurance as per the terms of your credit card agreement.

Rental car insurance

When you drive a rental car, no matter the country, it's essential to insure yourself against any form of vehicle damage. Whether or not the accident is your fault, having your own insurance is always best. With the right travel insurance on your card, you won't need to worry about taking out any further coverage.

Lost or destroyed baggage

If your bags are lost or destroyed during travel, your travel insurance will cover the replacement of your belongings up until a certain value. The value covered by your insurance will be stipulated within the terms of your agreement. This way, if your bags are lost or destroyed on the way to your destination, you can buy new clothing and other items for your stay.

Accidental death and dismemberment (AD&D) or flight accident insurance

Flight accident AD&D covers you in the event of injury or loss of life while traveling as a passenger in an aircraft. This type of coverage only applies to the period of time spent in the air. 24-hour AD&D ensures that you are covered for the entire duration of your travels. Different cards and policies offer different limits, so it's important to find out how much your insurance covers before choosing a particular card.

Emergency assistance

Medical emergencies can occur when you least expect them. There are few things worse than finding yourself in an emergency situation without any coverage. With the added advantage of emergency assistance coverage, you can enjoy your trips with added peace of mind.

Concierge services

Your hotel concierge is often one of the most important of all. Not only do they know all the best places to eat, shop, and enjoy various forms of entertainment, but they can also help you make your plans by reserving tickets and seats on your behalf. When your insurance covers concierge services, you won't need to worry about arranging your own ground transportation, various activities, or even floral services in some cases. The details of your coverage will be detailed in your policy and, since you are covered, there's no reason not to make the most of this convenient service!

Now that you have a better understanding of all the great benefits, you might be wondering if you really need it. Simply put, this option is ideal for anyone who frequently travels for business or pleasure. Instead of having to take out separate coverage every time you travel, you can enjoy convenience and peace of mind thanks to the travel insurance on your credit card! Compare fees and benefits of all the best Canadian credit cards at Wallet Savvy before choosing the right one for you.