Credit Card Travel Insurance: World MasterCard
Many credit card issuers include built-in travel insurance. It's never as complete as travel insurance you buy from a company like TravelGuard, but it's better than nothing, and it's always in force as long as you charge your trip to the credit card.
The World MasterCard's coverage isn't one of the most extensive in the industry. On the plus side, you have up to 180 days to file a claim for trip cancellation/interruption coverage, so if you've experienced an incident within the last six months but didn't know you had coverage, make a claim.
On the downside, this card's coverage is among the weakest we saw both in terms of who is covered and how much for. There is no coverage for lost bags, just delayed ones. Nor is there coverage for delayed flights, only those you must cancel before travel.
Trip cancellation / interruption
What is covered?
Key here is that for trip cancelation/interruption the definition of a "covered loss" is "death, accidental injury, disease, or physical illness of the insured
person or an immediate family member of the insured person; or default of the common carrier resulting from financial insolvency. The death, accidental injury, disease, or physical illness must be verified by a physician and must prevent the insured person from traveling on a covered trip. Pre-existing conditions are not covered."
There is coverage for both trip interruption (defined as a covered event on the way to the airport or after departure) and cancellation (defined as when the insured is prevented from traveling on or before departure).
What is not covered?
There is no coverage, apparently, for trip delays (or if your flight is canceled, or you miss a connecting flight). Weather events and strikes, which are covered by some other credit cards, are not covered by this policy, making it a weak choice.
Who is covered?
The cardholder plus spouse and unmarried dependent children are covered. Other cards have a much more extensive list of covered family members.
What's a covered trip?
No longer than 30 days. Also, the entire amount, not just a portion, of the trip (flight) must be charged on the card. Again, weak compared to some cards that cover trips up to 60 days.
What's the maximum benefit?
For trip cancelation/interruption: $1500. This is a paltry amount compared to some other cards, some of which offer up to $3000 or more.
$300, $100 per day for three days. But the coverage kicks in after just 4 hours of delay, which is better than some cards. It is "excess insurance" over and above what the airline pays, if anything.
There appears to be no coverage for lost baggage, just delayed.
How to file a claim
1-800-337-2632 to request a claim form.
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