The Truth Behind Free Travel Insurance
October 22, 2009
We have all heard the old adage that there is no such thing as free lunch. But does the same ring true for travel insurance? Our members this week discuss whether or not to rely upon free travel insurance offered by credit card companies.
For some members they feel that it is largely dependant on the country they are travelling to and the resultant level of risk. Whether you’re intending to paraglide in India or sip Margaritas poolside may depend on whether or not you’re willing to rely upon the travel insurance offered “free” via your credit card.
However, other members believe that the level of coverage offered by their credit cards is comparable to obtaining travel insurance privately.
It is important to be wary that there are certain requirements which must be satisfied for some credit cards in order for the free travel insurance to be valid. For example Citibank requires payments for all travel to be made with the same credit card and they also have a frequent flyer point transfer threshold.
In any event the best advice offered by our members is to read the fine print before relying to heavily on “free” travel insurance!
Tell us what you think HERE.
