Credit cards are very convenient if you like to pack light. They eliminate the need to travel with large sums of cash or even traveller’s checks as you visit locations worldwide, whether lounging on Dubai’s pristine beaches or admiring Paris’ stunning Notre Dame Cathedral.
Credit cards, or “plastic money” as they are sometimes called, are simple and practical for both customers and businesses. You might even receive an excellent concession when using your credit card to pay for specific purchases.
However, you might need to rely on more than just good fortune if you lose your credit card. Travel insurance can relieve you of any additional financial burden resulting from the tragic loss by paying for the cost of having your card reissued. The benefits of travel insurance are numerous in the event that your credit card is lost. Here is more information:
Coverage For Travel Insurance
Replacement Of Card*
Your travel insurance plan can assist you in replacing your credit card if you misplace or lose it while travelling. Each travel insurance policy has a toll-free helpline where you can call to report losing your card. Your insurer will speak with the card issuer and complete the transaction. If your assistance is required, the insurer will handle it as well.
Credit Card Replacement Cost *
There is a fee for replacing a credit card. Various companies have different replacement costs. While initially, you might have to pay to replace the lost or misplaced card out of your pocket, a travel insurance plan covers those expenses. Remember that you must submit all pertinent documentation regarding the lost card to receive reimbursement. Therefore, before filing a claim, keep all the documents in a secure location.
Any Fraudulent Transactions’ Compensation
According to the policies of the companies that issue credit and debit cards, fraud charges that are not reported within a certain amount of time are not refunded. However, purchasing travel insurance can protect you from such fraudulent transactions and receive the necessary compensation. Even though it’s ideal to use secure “vault” apps to store all of your credit card numbers and associated PINs, there are still instances where you might lose your card while travelling. In this situation, a travel insurance plan gives you peace of mind by covering all potential monetary losses.
While travel insurance may offer travel insurance covers for the loss of a credit card, the specific extent of coverage can vary depending on the policy and insurance provider. It is essential to carefully review the terms and conditions of the policy to understand the coverage and any limitations or exclusions that may apply. When considering travel insurance coverage for the loss of a credit card, it is crucial to keep in mind that insurance policies generally aim to reimburse for financial losses resulting from theft or unauthorised use rather than providing immediate assistance for the inconvenience of a lost card. The coverage typically includes reimbursement for fraudulent transactions made with the lost card before it is reported and cancelled. Make sure you pay your travel insurance policy premium on time. *
*Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.