About Credit Card Insurance (Part 1)
In this post (part 1) we will discuss more about the basic of credit card insurance. Insurance with your credit card (Visa, Mastercard, American Express) are more like contracts to help you attend to incidents, for a short time without providing health insurance coverage and very important in any case if you stay more than 3 consecutive months in the United States.
If you want to be well covered, we recommend you use them in conjunction with a specific insurance. Without going into too much detail, we will outline the services offered.
The main services via your credit card
Warning: This analysis is not exhaustive and has no legal value. Moreover, certain safeguards have been updated by the banking institutions but not yet integrated in our presentation. We recommend you always contact your bank for details of your cover.
Persons insured
It is usually the cardholder, spouse or partner, dependent children for tax under the age of 25 years and ascending and descending. A note on Visa cards that the spouse and dependent children are covered even if not accompanied by the cardholder. As for the MasterCard “standard” including the family of the owner must accompany order to receive the benefit.
Territorial Extent of coverage
For Visa “standards” and “first”, you will be covered worldwide, without excess mileage for your business or private stay in your country of residence (if you are a resident French: metropolitan France including Corsica, Monaco, Andorra, DOM TOM and COM) or outside your country of residence for the security assistance. Regarding the insurance guarantee, it applies to more than 100 km from home or place of work. For cards Mastercard and American Express, assistance does not require franchise mileage, except for the “Gold Amex with which you are covered until 50 Km to you for the assistance of your vehicle, the medical assistance and repatriation expenses, and 100 km from your home in the world to guarantee the rental vehicle.
Length of Coverage
Guarantees of credit card take effect on the date of purchase (under certain conditions) on these cards throughout the duration of them until termination or automatic renewal by the licensee in the country of residence. When traveling abroad, secured assistance apply the first 90 days of stay. This condition can vary from one card to another depending on the type of coverage (insurance or assistance) if the stay is to last longer for specific reasons (death, disability due to an accident during the stay) for the “Visa First, the insurance guarantees apply the first 180 days of stay. Caution: If your stay exceeds 3 months your credit card “standard” will not cover you.
Conditions of application
As mentioned previously, the guarantees offered by credit cards apply in general from the possession thereof but subject to certain conditions. There are two types of guarantees, assistance and insurance. The first applies when the purchase of credit card, in case of illness or injury, death, legal action abroad and help the onward journey. The second applies when you set your travel services and other purchases related to it with your credit card, incidents of travel (delay planes, trains, luggage) and accidents Travel (death, disability). This can vary from one card to another.
Related posts:
- About Credit Card Insurance (Part 2)
- Reform of Credit Insurance
- Make Sure that Your Car Insurance Company Gets Honored
- Cheap Car Insurance – How to Get It
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