Everything you need to know about credit card travel insurance
While many credit card travel insurances have some great features, it's still important to read the fine print to make sure that your credit card has the right coverage for the adventure you're planning.
Luckily Mozo has done most of the hard work for you and has the low down on credit card travel insurance, which will set any venturesome traveller in good stead!
Ready to start looking at cards? Look below now.
Travel Credit Card Comparison Table - rates updated daily
American Express Qantas Discovery Card
Receive up to 1.75 Qantas Points for every $1 spent on Card purchases (T&Cs apply). No annual fee for the life of the card. T&C’s apply. Mozo Experts Choice Qantas Frequent Flyer Credit Card Winner 2020.
purchase rate
annual fee
balance transfer rate
20.74% p.a.$0No current offerQantas Discovery Card
Receive up to 1.75 Qantas Points for every $1 spent on Card purchases (T&Cs apply). No annual fee for the life of the card. T&C’s apply. Mozo Experts Choice Qantas Frequent Flyer Credit Card Winner 2020.
- purchase rate
- 20.74% p.a.
- annual fee
- $0
- balance transfer rate
- No current offer
- Points per $ spent
- 0.75 points per dollar on Amex, uncapped
- Spend req Syd-Mel flight*
- Spend $10,667 to earn
- Foreign exchange margin
- 3.00%
- Intro rate
- -
- Interest free days
- 44
- Rewards program
- Qantas Frequent Flyer
- Bonus points
- Earn 0.5 Qantas Points per $1 spent at government bodies, earn 1.75 Qantas Points per $1 spend on selected Qantas products and services.
- Flight options
- All rewards are redeemed via Qantas Frequent Flyer.
- Expiry
- Never
- Points earning
- 0.75 points per dollar on Amex, uncapped
- Points required
- 8000 points buys a Qantas Sydney-Melbourne flight
110400 points buys a Qantas Sydney-London flight
19730 points buys a Myer $100 Gift Card
- Interest rate on cash withdrawals
- -
Read our Mozo Review to learn more about the Qantas Discovery Card
American Express Velocity Platinum Card
Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. New Card Members Only Enjoy a complimentary domestic return flight with Virgin Australia to selected cities, each year after your first card spend. Credit Card Provider of the Year in the Mozo Experts Choice Awards 2020 ^.
purchase rate
annual fee
balance transfer rate
20.74% p.a.$375No current offerVelocity Platinum Card
Receive 50,000 bonus Velocity Points when you apply online, are approved and spend $3,000 on your new Card within the first 3 months. New Card Members Only Enjoy a complimentary domestic return flight with Virgin Australia to selected cities, each year after your first card spend. Credit Card Provider of the Year in the Mozo Experts Choice Awards 2020 ^.
- purchase rate
- 20.74% p.a.
- annual fee
- $375
- balance transfer rate
- No current offer
- Points per $ spent
- 1.25 points per dollar on Amex, uncapped
- Spend req Syd-Mel flight*
- Spend $6,240 to earn
- Foreign exchange margin
- 3.00%
- Intro rate
- -
- Interest free days
- 55
- Rewards program
- Velocity Frequent Flyer
- Bonus points
- Earn 0.5 Velocity Points per $1 spent at government bodies, earn 2.25 Velocity Points per $1 spend on selected Virgin Australia products and services.
- Flight options
- Redeem Velocity Points with Virgin, Air New Zealand, Etihad Airways, Singapore Airlines and other partners.
- Expiry
- Never
- Points earning
- 1.25 points per dollar on Amex, uncapped
- Points required
- 7800 points buys a Virgin Australia Sydney-Melbourne flight
119600 points buys a Velocity partner Sydney-London flight
19500 points buys a Myer $100 Gift Card
- Interest rate on cash withdrawals
- -
Read our Mozo Review to learn more about the Velocity Platinum Card
NAB Qantas Rewards Signature Card
NABs fastest way to earn Qantas Points. 110,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.
purchase rate
annual fee
balance transfer rate
19.99% p.a.$395 $295 in the first year0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)Qantas Rewards Signature Card
NABs fastest way to earn Qantas Points. 110,000 bonus Qantas Points when you spend $3,000 on everyday purchases within 60 days of account opening and keep the card open for 12 months. Access to 6 complimentary insurances when you make eligible purchases.
- purchase rate
- 19.99% p.a.
- annual fee
- $395 $295 in the first year
- balance transfer rate
- 0% p.a. for 6 months and then 21.74% p.a. (2.00% balance transfer fee)
- Points per $ spent
- 1 point per dollar on Visa, up to $5,000 per month, then
0.5 points per dollar on Visa, up to $20,000 per month
- Spend req Syd-Mel flight*
- Spend $8,000 to earn
- Foreign exchange margin
- 3.00%
- Intro rate
- -
- Interest free days
- 44
- Rewards program
- Qantas Frequent Flyer
- Bonus points
- Bonus points on selected Qantas products and services, including eligible Qantas flights.
- Flight options
- All rewards are redeemed via Qantas Frequent Flyer.
- Expiry
- Never
- Points earning
- 1 point per dollar on Visa, up to $5,000 per month, then
0.5 points per dollar on Visa, up to $20,000 per month
- Points required
- 8000 points buys a Qantas Sydney-Melbourne flight
110400 points buys a Qantas Sydney-London flight
19730 points buys a Myer $100 Gift Card
- Interest rate on cash withdrawals
- 21.74% p.a.
Read our Mozo Review to learn more about the Qantas Rewards Signature Card
Virgin Money Virgin Australia Velocity Flyer Card - Purchase Rate and Balance Transfer Offer
0% p.a. for 6 months on balance transfers and 0% p.a. for up to 14 months on purchases. Pay only half the annual fee in the first year and enjoy an exclusive $129 Virgin Australia Gift Voucher yearly.
purchase rate
annual fee
balance transfer rate
20.74% p.a.$129 $64 in the first year0% p.a. for 6 months and then 20.99% p.a.Virgin Australia Velocity Flyer Card - Purchase Rate and Balance Transfer Offer
0% p.a. for 6 months on balance transfers and 0% p.a. for up to 14 months on purchases. Pay only half the annual fee in the first year and enjoy an exclusive $129 Virgin Australia Gift Voucher yearly.
- purchase rate
- 20.74% p.a.
- annual fee
- $129 $64 in the first year
- balance transfer rate
- 0% p.a. for 6 months and then 20.99% p.a.
- Points per $ spent
- 0.66 points per dollar on Visa, up to $1,500 per month, then
0.5 points per dollar on Visa, uncapped
- Spend req Syd-Mel flight*
- Spend $11,818 to earn
- Foreign exchange margin
- 3.30%
- Intro rate
- 0% p.a. for 14 months
- Interest free days
- 55
- Rewards program
- Velocity Frequent Flyer
- Bonus points
- -
- Flight options
- All rewards are redeemed via Velocity.
- Expiry
- Never
- Points earning
- 0.66 points per dollar on Visa, up to $1,500 per month, then
0.5 points per dollar on Visa, uncapped
- Points required
- 7800 points buys a Virgin Australia Sydney-Melbourne flight
119600 points buys a Velocity partner Sydney-London flight
21800 points buys a Myer $100 Gift Card
- Interest rate on cash withdrawals
- 20.99% p.a.
Read our Mozo Review to learn more about the Virgin Australia Velocity Flyer Card - Purchase Rate and Balance Transfer Offer
American Express Qantas Ultimate Card
Receive 55,000 bonus Qantas Points when you apply, are approved, and meet the minimum spend criteria of $3,000 in the first 3 months. T&Cs apply. Available to new Card Members only.
purchase rate
annual fee
balance transfer rate
20.74% p.a.$450No current offerQantas Ultimate Card
Receive 55,000 bonus Qantas Points when you apply, are approved, and meet the minimum spend criteria of $3,000 in the first 3 months. T&Cs apply. Available to new Card Members only.
- purchase rate
- 20.74% p.a.
- annual fee
- $450
- balance transfer rate
- No current offer
- Points per $ spent
- 1.25 points per dollar on Amex, uncapped
- Spend req Syd-Mel flight*
- Spend $6,400 to earn
- Foreign exchange margin
- 3.00%
- Intro rate
- -
- Interest free days
- 44
- Rewards program
- Qantas Frequent Flyer
- Bonus points
- Earn 0.5 Qantas Points per $1 spent at government bodies, earn 2.25 Qantas Points per $1 spend on selected Qantas products and services.
- Flight options
- All rewards are redeemed via Qantas Frequent Flyer.
- Expiry
- Never
- Points earning
- 1.25 points per dollar on Amex, uncapped
- Points required
- 8000 points buys a Qantas Sydney-Melbourne flight
110400 points buys a Qantas Sydney-London flight
19730 points buys a Myer $100 Gift Card
- Interest rate on cash withdrawals
- -
Read our Mozo Review to learn more about the Qantas Ultimate Card
Types of credit cards offering free travel insurance
Not all credit cards offer travel insurance. Usually complimentary travel insurance is only available on high end cards like gold cards, platinum cards and some rewards credit cards. These credit cards generally have high annual fees because of the extras you get. But if you're a savvy traveller and take more than two trips a year when you compare the annual fee cost to the cost of stand-alone travel insurance, it can be a good deal.
What's covered - the basics of credit card travel insurance
If you decide credit card travel insurance is the best option for you it's important to know what you're covered for (and not covered for), so you don't end up stranded in a foreign country, bitterly wishing you had read the fine print!
Here are some of the standard credit card travel insurance features:
- General cover: The standard amount for credit card travel insurance is $20,000 for items like baggage, property and flight cancellation.
- Who's covered: Usually only the cardholder is covered, though some policies will include your spouse or children under the age of 19 travelling with you. To get coverage for each family member you will have to pay amounts over $900 per person on your credit card for pre-paid travel, such as flights and accommodation.
- Medical insurance: The majority of credit [cards cover international medical insurance which is a big plus. But often they don't cover pre-existing medical conditions such as diabetes and asthma. If you're pregnant it's important to note that routine pregnancy checks (e.g ultra-sounds) are not insured, however unforeseen pregnancy medical conditions are covered.
- Cash: Show me the money! Many credit card travel insurance policies include cash coverage, which can come in handy for any holiday shopper. Stand-alone travel insurance policies usually cover amounts from $100 to $200 for cash. In comparison, credit card travel insurance can cover up to $500 for an individual and $1000 for a family.
- Baggage and property: Most travel credit cards cover luggage and personal items if stolen but exclude luggage lost at the airport. And if you're unlucky enough to have something stolen, insurance providers often require the original receipt of the item and you may have to contact the police within 24 hours and file a report. There are also some quirks to watch out for. Some insurance will not cover you for items stolen from a public place or unmanned vehicles.
- Injury & accidental death: A morbid topic, we know but it's something that has to be considered when travelling. Most credit cards include accidental death benefits and you're also usually covered if you suffer from illness or become disabled while travelling overseas.
- Rental cars: In the event of a car accident, there is excess cover for rental vehicle insurance.
- Loss of income: Some credit card travel insurance covers up to 3 months for loss of income, up to $750 per week and no more than $75,000 in total.
Tips & tricks to ensure you don't leave home under insured
- Eligibility: If you want to use the travel insurance on your credit card be sure you meet the eligibility requirements. You don't want to be travelling around South America thinking you're insured when you're not! You can't just jump on a plane using your Frequent Flyer Points or grab a cheap flight deal on your debit card and then rely on your credit card for travel insurance. Across the board, credit card travel insurance has to be activated by spending between $500-$1000 on pre-paid transportation costs on the credit card.
- Excesses: When travelling it's upsetting if your stuff gets nicked but you'll be even more upset when you find out that the excess attached to your credit card insurance makes claiming not worthwhile. While standalone travel insurance policies have variable excesses (generally $100 - $300), the excess for credit card travel insurance can be as much as $500.
- Expiry dates: Watch travel expiry dates! Most credit cards are great for short trips of up to 3 months with some providing cover for up to 12 months. But it's important to know that most credit card insurances can't be extended so check how long you'll be covered for once you take off. So if you're planning a long trip or want some flexibility to extend, it might be better to check out stand-alone travel insurance options.
- Domestic travel: Visiting the Great Barrier Reef or Uluru? Most credit card travel insurance doesn't cover domestic travel. You may want to consider some alternative travel insurance for trips around Australia. Some platinum cards offer domestic travel "inconvenience" insurance, which covers extras like flight delays, missed connections or car rental reimbursement.
- Internationally accepted: Another great thing about using a credit card is that they're accepted globally, making them pretty easy to use if you get yourself into a sticky situation.
- Read the fine print: Before leaving on your big adventure, it's important to read your policy carefully and check the fine print. Insurance providers can be tricky often placing the large claim amount at the beginning of the policy and hiding the exclusions on later pages, which are often the most frequent insurance claims.
And you're away... safe travelling!
^See information about the Mozo Experts Choice Travel Credit Cards Awards
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