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Trip Cancellation Insurance Amex
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The American Express Gold Card Travel Insurance Benefits
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Amex cards from Platinum to All Day Preferred now offer travel cancellation coverage and more – here’s everything you need to know
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Amex Travel Giving Me More Expensive Option?
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While credit card insurance and travel protection are often considered secondary to rewards programs and other cardholder benefits, these benefits can be just as important if you’re traveling.
When you pay for travel with, for example, a credit card that offers cancellation and interruption insurance, you may have some of your travel expenses covered in the event that your vacation is interrupted for any reason. beyond your control. Meanwhile, travel delay insurance allows you to claim compensation when a travel delay results in unexpected expenses, such as an unplanned hotel stay near the airport when your flight is delayed.
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Chase credit cards like the Chase Sapphire Reserve® and the Chase Sapphire Preferred® Card have really stood out over the years in terms of the protection they offer, and with some of the highest limits out there. However, American Express is still going strong—it recently added trip cancellation and interruption insurance, along with travel delay coverage, to many of its high-reward credit cards.
If you’re looking for an American Express card and hope to take advantage of special travel benefits, consider the cards below and their long-term travel protection.
We focus here on the rewards and benefits that come with each card. These cards won’t be worth it if you pay interest or late fees. When using a credit card, it’s important to pay the balance in full each month, make payments on time, and only spend what you can afford.
The New American Credit Card Cancellation and Interruption Insurance gives you up to $10,000 in coverage (and up to $20,000 per account per year) you can use to reimburse prepaid travel expenses like airfare and hotels. This coverage can be useful if your trip is canceled for a reason beyond your control, or you are stopped at your destination and require a long wait and additional costs before you can return home.
How Does Credit Card Travel Insurance Work?
Note that this coverage is good for travel booked with your credit card, which means you must pay common carrier travel expenses with your American Express credit card in order to qualify.
Other versions of the Amex Platinum card – including Goldman Sachs, Morgan Stanley and corporate flavors – also offer this coverage, as do all versions of the invitation-only Amex Centurion (Black) card.
In January 2020, American Express also launched a promotional travel delay insurance benefit for many of its top credit cards. While this benefit may seem unusual, there are many scenarios where travel delay coverage can help you save money and avoid unexpected expenses when your trip is delayed beyond your control.
With Amex Travel Delay Compensation, you can be reimbursed up to $500 per trip for hotel stays, meals and other essential expenses when your flight or other travel plans are delayed by more than six hours. If you are sitting at the airport and your flight is suddenly delayed until the next morning, for example, you can use this area to pay for a nearby airport hotel and your dinner, then for Uber or Lyft ride back to the airport.
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To qualify for American Express travel coverage, you must pay for common travel expenses with your credit card.
A few American Express credit cards also offer a baggage insurance plan, although this is not a new or upgraded benefit from the card issuer. This cover can come in handy if your luggage is lost or stolen during the covered journey. To qualify for this coverage, you must pay for common transportation travel (airline, cruise, etc.) with your American Express credit card.
How much cover you get depends on the card you have. For example, the Platinum Card® Baggage Insurance from American Express offers up to $3,000 in coverage per person for carry-on baggage and up to $2,000 in coverage per person for checked baggage types.
With baggage insurance from the Amex EveryDay® Preferred Credit Card, on the other hand, you’ll only be eligible for up to $1,250 in coverage per person for carry-on bags and up to $500 for checked bags, but an additional benefit of $250 is available offered for “high risk” items such as jewelry or sporting goods.
Travel Insurance With Amex
Some American Express cards also offer secondary car rental coverage, which means this coverage starts after other policies have been used, unlike primary car rental coverage.
Although this benefit applies to most Amex cards, please note that regional limits may vary. With the Amex Gold card, for example, coverage is limited to $50,000 per rental for damage or theft, but the Amex Platinum card offers up to $75,000 in coverage. The insurance also does not cover personal liability.
Also note that this coverage comes with a coverage amount for accidental death or dismemberment that varies from card to card. Including, for example, you will receive up to $200,000 in coverage per person and up to $300,000 in coverage for a car accident for accidental death and dismemberment. Make sure you read the terms and conditions of your credit card and know exactly how much coverage you have.
While American Express offers travel accident insurance on some of its cards, this coverage has been dropped effective January 1, 2020. The same applies to the American Express Roadside Assistance Center, which no longer exists. .
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However, American Express rewards and travel credit cards offer a lot of protection for customers who pay for travel with credit cards. If you are on the verge of signing up for a new credit card, be sure to compare card options and all their benefits before making your decision.
Director ratings are determined by our editors. The ranking system takes into account many factors and evaluates the cards against others of the same type, so you can choose the card that best suits your goals.
Earn 5X Member Rewards Points on flights booked directly with airlines or with American Express Travel (up to $500,000 per calendar year) and on prepaid hotels that book with American Express Travel. Earn 1X points on other purchases.