Benefits Of Free Travel Insurance Credit Cards

Information verified correct on October 27th, 2016

The biggest benefit of free travel insurance credit cards is that first word – free.

If something is free then it is obviously going to save you at least the initial cost which is always a good thing. That being said, this type of cover is not truly free as it is associated with a high end card that typically will have an annual fee. However, even if you have a platinum card that carries a steep annual fee of one hundred dollars each year there is still a fairly good chance you are going to come out ahead of the game if the cover is decent.

Free Travel Insurance Credit Cards

  • Cost – As we said before, the money that you save from using plastic that offers complimentary cover can be quite significant. Even if you are only hopping over to New Zealand for a couple of weeks, the cost to add cover to your trip for just one person is around $70. Using the cover, your card offers will save big bucks.
  • Restrictions – Almost all free travel insurance credit cards have certain restrictions and regulations that you must understand. To begin with, it is usually stipulated that you must book all or part of your travel with your designated card in order to get the coverages. There are sometimes other restrictions and limitations that you should familiarise yourself with by reading the terms an conditions of your card prior to booking a trip. Some coverage will only work for you, the cardholder, whilst others will also cover your travelling companions as long as they are family members. In order to squeeze the most value out of your insurance, you must understand exactly how it works and how to use it. Most of the time, this cover is only for international travel. If you need domestic cover, you may have to purchase it separately or find a card that offers that specifically.
  • Benefits – If you have found that the plastic you currently own does not have this coverage then might be looking for a new card. When you look at the trip coverages, make sure that it is not solely trip accident coverage. You want something that will protect you and your investment in the event of illness or injury, cancelled plans, lost luggage, even inconveniences like delayed flights or lost luggage. Get the most cover for your money. This may mean spending more cash on the annual fee so compare that to how much you will actually use the coverage and the cost you would incur if you had to buy it on your own for each of your trips. Look at some of the more prestigious gold or platinum card options as the usually offer the best travel rewards.

Free travel insurance credit cards are just one more way that you can put your plastic to work for you. Too many of us just use our cards as a convenient way to spend money and accept that the convenience comes with a bit of a cost. However, if you really want to make the most of your money and even of your spending, you need to take full advantage of every perk and benefit cards offer. To do this, you have to take the time to read and understand all of the perks offered by your card company and to be willing to switch when necessary to a better card. Do not let brand loyalty stand in your way. Get the card that meets all of your needs all of the time.

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Credit Cards Comparison

Rates last updated October 27th, 2016
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
Virgin Australia Velocity Flyer Card - Balance Transfer Offer
Enjoy a 0% p.a. balance transfer offer for 18 months and also earn 2 bonus Velocity Points in the first 3 months on everyday spend.
20.74% p.a. 0% p.a. for 18 months $64 p.a. annual fee for the first year ($129 p.a. thereafter) Go to site More info
ME Bank frank Credit Card
Enjoy a low and consistent interest rate on purchases and cash advances, combined with no annual fee.
11.99% p.a. $0 p.a. Go to site More info
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
NAB Low Rate Credit Card
The NAB Low Rate Card offers 0% p.a. on purchases and balance transfers for 15 months. This card also comes with a low annual fee.
0% p.a. for 15 months (reverts to 13.99% p.a.) 0% p.a. for 15 months with a one off 3% balance transfer fee $59 p.a. Go to site More info

* The credit card offers compared on this page are chosen from a range of credit cards has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best' and 'Top' are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your own personal financial circumstances when comparing cards.

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