Deciding if Credit Card Travel Accident Insurance is Worth it for You

For most people, the answer to this question is no. First of all, this insurance often is not free. If it is offered for free, then there is no harm in having it. If you have to pay for it, however, the cost generally is not worth the pay-off. This is because it does not pay for just any type of accident you might have. In addition, it only pays out when you are travelling in a mode of transport that was purchased with the credit card. So, if you are injured while on a boat during your vacation but you only purchased you airline tickets with your credit card, that accident is not covered.

Travel insurance through your credit card also does not pay for medical expenses or hospital visits. Rather, it simply pays out a lump sum of cash. In addition, your policy can change at any time. So, for the best protection, you really should purchase a comprehensive travel insurance policy from a reputable agent to make sure you are truly covered.