Depending on your Credit Card Issuer, you may have several types of insurance available with different names and functions.
However, following is a list of the most common insurance programs available and a brief explanation of each one.
Names may vary but the concept remains the same.
So as you peruse through this article, you will realize the urgent need to contact your credit card issuer if you believe that there is a possibility you need their assistance, because you'll never know if you're covered by your insurance policy unless you ask.
Purchase Safety Insurance This would cover any goods ordered with your credit card that had either been misplaced or robbed whilst in transit or any damaged goods not as a result of the customer's fault - once this happens, contact your credit card issuer to get a partial or full reimbursement, depending on your insurance policy's details.
The reimbursement may be in part or in full, and also applies (and is especially applicable) if you have purchased home appliances - these items are particularly susceptible to accidents or damage, and you can make use of your credit card insurance even if your home insurance policy also protects you against these events.
Theft Insurance As long as you call your credit card issuer immediately after you loose or get your card stolen, the credit card company will block the card and not charge you for any purchase made after the theft or reimburse you the money if the purchase has already been processed.
Additional info - federal law dictates that you report your card as stolen to the insurance provider, and not just report it to the credit card company.
Fraud Insurance Protection Over the past few years, identity theft has become a clear and present danger for credit card consumers, who are quick to shy away from a provider without such protection. The moment you notice somebody has made purchases on your card that you did not make or agree to, or used your identity in any other unscrupulous manner, notify your credit card issuer immediately so they can mark those charges as unauthorized.
If the fraud claim is legitimate, any payments made toward the disputed item and the disputed item itself will be reimbursed to the customer.
Travel annulment Insurance If you've bought a plane ticket and maybe hotel reservations or other vocational products and something happens that forces you to suspend or cancel, you'll be covered by this policy. Whether you're on a leisurely jaunt with family or on a trip solely for business purposes, you can change your reservations accordingly without having to pay, or you can also get a full or partial reimbursement for your flight, hotel, etc. if covered by this insurance policy.
Travel Accident Insurance This is a form of insurance that will have you protected in case of an accident incurred while traveling, or, Heavens forbid, death during a travel engagement. Morbid as it may seem, the unlikely event of death would make this insurance work very similar to your standard death insurance policy.
Your hospitalization costs, as well as telephone calls, medication, transportation, etc. related to the accident covered will be duly covered in full by your insurance provider.
However, following is a list of the most common insurance programs available and a brief explanation of each one.
Names may vary but the concept remains the same.
So as you peruse through this article, you will realize the urgent need to contact your credit card issuer if you believe that there is a possibility you need their assistance, because you'll never know if you're covered by your insurance policy unless you ask.
Purchase Safety Insurance This would cover any goods ordered with your credit card that had either been misplaced or robbed whilst in transit or any damaged goods not as a result of the customer's fault - once this happens, contact your credit card issuer to get a partial or full reimbursement, depending on your insurance policy's details.
The reimbursement may be in part or in full, and also applies (and is especially applicable) if you have purchased home appliances - these items are particularly susceptible to accidents or damage, and you can make use of your credit card insurance even if your home insurance policy also protects you against these events.
Theft Insurance As long as you call your credit card issuer immediately after you loose or get your card stolen, the credit card company will block the card and not charge you for any purchase made after the theft or reimburse you the money if the purchase has already been processed.
Additional info - federal law dictates that you report your card as stolen to the insurance provider, and not just report it to the credit card company.
Fraud Insurance Protection Over the past few years, identity theft has become a clear and present danger for credit card consumers, who are quick to shy away from a provider without such protection. The moment you notice somebody has made purchases on your card that you did not make or agree to, or used your identity in any other unscrupulous manner, notify your credit card issuer immediately so they can mark those charges as unauthorized.
If the fraud claim is legitimate, any payments made toward the disputed item and the disputed item itself will be reimbursed to the customer.
Travel annulment Insurance If you've bought a plane ticket and maybe hotel reservations or other vocational products and something happens that forces you to suspend or cancel, you'll be covered by this policy. Whether you're on a leisurely jaunt with family or on a trip solely for business purposes, you can change your reservations accordingly without having to pay, or you can also get a full or partial reimbursement for your flight, hotel, etc. if covered by this insurance policy.
Travel Accident Insurance This is a form of insurance that will have you protected in case of an accident incurred while traveling, or, Heavens forbid, death during a travel engagement. Morbid as it may seem, the unlikely event of death would make this insurance work very similar to your standard death insurance policy.
Your hospitalization costs, as well as telephone calls, medication, transportation, etc. related to the accident covered will be duly covered in full by your insurance provider.
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