Top 3 Credit Cards That Give Free Travel Insurance
After months of working like a slave, rowing an oar in that galley you call a “workplace,” you’re finally ready to have your chains removed (temporarily) for a well-deserved holiday! You already know where you want to go – you just need to go online to buy your ticket.
After choosing a flight and passing a few web pages including one asking if you need travel insurance (pfft… don’t need that!), you’re only a credit card payment away from paradise. But hold on – you DO need travel insurance. And better yet, there are cards that offer it for FREE! If you’re not sure why you need it, do yourself a favour and read Why You Need Travel Insurance for a minute.
Some of the main factors to consider when looking at free travel insurance provided by credit cards are:
- Accidental death and permanent disablement coverage (for you and your family)
- Lost Luggage
- Flight-related coverage – trip cancellations, flight delays, trip interruptions, etc.
- Any other medical benefits e.g. expenses incurred overseas, evacuation, etc.
Now that we’ve dispensed with the “heavy” stuff, let’s take a look at the top 3 cards that stand out from the rest in terms of offering free travel insurance:
Citibank PremierMiles Card
- Get S$200 NTUC Fairprice OR CapitaLand Vouchers with Citibank!
- S$1 = 1.2 Citi Miles on Local spend
- S$1 = 2 Citi Miles on Foreign currency spend
- Earn up to 7 Citi Miles per S$1 spent on Agoda.com/bonusmiles (valid till 31 Jul 2019), 3 Citi Miles per S$1 spent on Expedia.com.sg/bonusrewards (valid till 31 May 2019) and 10 Citi Miles per S$1 spent on Kaligo.com/bonus-miles (valid till 31 Dec 2019)
- Citi Miles never expire
- Priority Pass™ membership gives you access to more than 600 airport lounges twice a year
- Complimentary Travel Accident Insurance up to S$1,000,000 coverage, Medical Assistance Programme and Travel Inconvenience Coverage
The Citibank PremierMiles Card is Citibank’s travel card that provides great travel benefits such as giving 10,000 bonus miles when you renew your annual membership, with miles that never expire. It offers protection for you, your spouse and your kids 25 and under as long as you pay for their tickets with your card as well.
If you have the Citibank PremierMiles Card, you get the following coverage:
- Up to $1,000,000 coverage in the event of death or permanent disablement for you and your spouse
- Up to $50,000 coverage for your child
- Up to $40,000 coverage for medical expenses incurred due to injury or sickness whilst on a covered trip. (Up to $20,000 coverage for your child).
- Up to $100,000 coverage for emergency medical evacuation.
- Up to $50,000 coverage for repatriation.
- Baggage Loss: Up to $500 reimbursement per article, up to max S$1,000.
- Baggage Delay: $200 for every consecutive 8 hours of delay, up to max S$600
- Flight Delay: $100 for every consecutive 8 hours of delay, up to max S$500
- Trip Cancellation: Up to $500 reimbursement
- Trip Interruption: Up to $500 reimbursement
If you are interested in the Citibank PremierMiles Card, you can apply here.
American Express® Singapore Airlines KrisFlyer Ascend Credit Card
- Apply through MoneySmart from 22 Mar - 19 Apr 2018 to get S$100 worth of Grab OR NTUC Vouchers. Application must be approved by 3 May 2018. Submit your (i)Contact Details and (ii)14-digit Reference Number on the Thank You Page upon completion at this link before 19 April 2018. T&Cs
- 1.2 KrisFlyer Miles = S$1
- 2 KrisFlyer Miles = S$1 in foreign currency spent overseas on eligible purchases in June & Dec
- 3.2 KrisFlyer Miles = S$1 for Grab and Uber rides, capped at S$200 per month
- Spend above S$15,000 on eligible purchases on singaporeair.com within first 12 months of Card approval and get upgraded to KrisFlyer Elite Gold Membership
- Four complimentary lounge access to participating SATS Premier and Plaza Premium Lounge each year
- Complimentary night's stay each year at one of over 90 participating Millennium Hotels and Resorts properties worldwide
- Up to $1 million travel insurance coverage
The Krisflyer Ascend card is American Express’ unique travel card that allows you to accrue KrisFlyer miles twice as fast when you book your flights with Singapore Airlines. It also offers you a complimentary hotel night’s stay each year, and access 4 times a year to airport lounges around the world.
If you have the KrisFlyer Ascend Credit Card, you get the following coverage:
- Up to $1,000,000 for accidental death or permanent disablement for you, your spouse, and your child over 16.
- Up to $100,000 for accidental death or permanent disablement for your kids under 16.
- Up to $400 for delayed luggage after 6 hours. They also provide extended baggage delay coverage of up to $1,000 per family for the purchase of essential items if your baggage hasn’t arrived at the destination airport within 48 hours of arrival.
- Up to $400 for flight delay (Must be a Singapore Airlines flight).
They have an ongoing promotion that allows you to earn a bonus of 15,000 KrisFlyer miles when you spend $6,000 in the first 3 months, and up to 10,000 welcome miles upon your first spend on your card. Amex is also currently running a 12 month long lucky draw campaign that allows you to win business class tickets to a new exciting destination every month.
If you are interested in the KrisFlyer Ascend Credit Card, you can apply here.
HSBC Visa Infinite Credit Card
- $1 = Up to 1.25 air miles (Local)
- $1 = Up to 2.25 air miles (Overseas)
- Priority Pass™ Membership card will be automatically issued to the primary Cardholder and the supplementary Cardholder(s) - Unlimited access to over 700 VIP airport lounges worldwide
- Access to HSBC’s Infinite Travel & Lifestyle Concierge service for personalised assistance, 24/7
- Automatic travel insurance coverage of up to US$2,000,000 (annual value worth S$988)
- Complimentary limousine transfer and expedited immigration clearance at key airports in Asia
If you’re a high-income individual, this card offers you a leg up the usual travel benefits. In comparison to the rest of the cards on our list, this card has the highest travel insurance payouts.
If you have HSBC Visa Infinite Credit Card, you get the following coverage:
- Up to $2,000,000 for accidental death or permanent disablement for you.
- Up to $1,000,000 for accidental death or permanent disablement for your family member
- Up to $30,000 for accidental death or permanent disablement for your kid
- Up to $10,000 for flight cancellations
- Up to $1,000 for flight and baggage delays
- Up to $5,000 for lost baggages
- Up to $400 for lost travel documents
- Up to $800 for missed connecting flights
- Up to $300 for trip postponement
- Up to $250,000 for emergency assistance and evacuation
- Up to $100,000 in medical benefits – medical/ accidental dental expenses incurred overseas
In addition to these you even get additional coverage on rental cars (up to $2,000) and personal liability ($100,000). That’s a REALLY comprehensive coverage. You have almost everything covered! What’s more, HSBC is not giving new members a generous welcome gift of 35,000 miles!
If you are interested in the HSBC Visa Infinite Credit Card, you can apply here.
- DBS Altitude Card: $1,000,000 coverage (no coverage for travel delay, bag loss, etc.)
- Standard Chartered Visa Infinite Credit Card: $1,000,000 coverage (no coverage for flight and baggage delay)
- S$1 = 1.2 miles (Local spend)
- S$1 = 2 miles (Overseas spend)
- S$1 = 3 miles (Online flight & Hotel transactions)
- 6 miles/S$1 spend at Expedia; 10 miles/S$1 spend at Kaligo
- Get 10,000 Bonus Miles when you renew your annual membership
- Enjoy 2 Complimentary Global Airport Lounge Access visits and get up to S$1 million travel accident insurance coverage for you and your family members
- Up to 25.07% effective fuel savings at Caltex (16% onsite discount on Caltex Platinum 98 petrol + 10.80% rebate on nett transaction) till 30 Jun 2017
Important Notes: The information above is a broad overview of what’s in each travel insurance policy, but keep in mind that they can be picky with their Terms & Conditions so give them a glance too.
Also, for all of the credit cards above, make sure you print out/copy of the following and carry them with you while on holiday: your credit card statement showing your travel package/flight purchase, your flight ticket(s), and your confirmation email/letter from the airline in case you need to make a claim.
If you have one of these credit cards above, great! Take advantage of the free travel insurance by paying your for your air fare with them. If you don’t, you might want to apply for one of the ones above to save some money on travel insurance. You can check out MoneySmart’s Credit Card section to compare and find credit cards with other travel perks.
Will you be using any of these credit cards on your holiday trip? Share your thoughts with us on Facebook!
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