Credit Card Travel Insurance: Is It Enough for Your Next Trip?
Many Australians have complimentary travel insurance on their credit cards, which can save them hundreds of dollars when traveling overseas.
Credit card providers like Qantas American Express offer this service to their customers, but it's essential to check the details of your policy before relying on it.
We looked at three different scenarios: a solo trip to Bangkok, a couple heading to London, and a family holiday to Fiji. In all cases, the complimentary insurance offered by Qantas American Express provided excellent coverage, with some policies even offering unlimited medical expenses.
However, there are some catches. For example, you may need to meet a minimum spend on your credit card before the insurance kicks in, and there may be trip limits or exclusions for certain activities.
It's also worth noting that some credit cards are axing or reducing their complimentary travel insurance offerings due to upcoming changes in credit card regulations.