I don’t understand my credit card travel insurance

A review by the Australian Securities and Investments Commission has found consumers are often uncertain about who is covered by their credit card’s travel insurance policy, exclusions and eligibility.

Credit card issuers are now moving to clarify when their travel insurance cover is activated. Sometimes a minimum spend threshold needs to be met by the credit card holder. They will also clarify whether the use of reward points for travel costs will activate the cover and also whether supplementary cardholders are covered.

Credit card issuers will also provide more prominent information about what cardholders need to provide to make a claim.

Source: Banking Day

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