Recently, we talked about how your credit card travel insurance coverage doesn’t compare to what you can get with a true travel insurance plan. Here, let’s compare the costs of travel insurance against your credit card annual fees.
Here are just a few annual credit card fees:
- Discover Escape $60
- Citi ThankYou Premier $120
- Chase Sapphire $85
- American Express Gold $175
If a 46-year old spending a week in France wants travel insurance coverage with trip cancellation, they have a number of options, including these plans for example:
As we’ve noted in the past, it’s risky to view your credit card coverage as ‘better than nothing’. If you’re willing to shell out the bucks on a trip, why not protect that investment and guard against unexpected medical, evacuation, interruption, and other emergency expenses at the same time?
Take a look at our complete review of credit card travel insurance protection.
Of course, if you want the same travel protection all year long, consider looking into an annual travel insurance plan as an option too. The trip cancellation coverage is usually more limited, but you’ll have protection for accidents and injuries (even abroad, where your health insurance doesn’t extend), evacuation protection, trip interruption reimbursement, and more.