Insurance: credit card or separate contract, which is the best option for your vacation?

Insurance: credit card or separate contract, which is the best option for your vacation?


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Bank cards not only allow you to make payments and withdrawals: it is also possible to take advantage of a certain number of guarantees. What is the value of these insurances really?

by MoneyVox,

There is a class of insurance that is still unknown: the bank card class. Trip cancellation, repatriation, medical expenses abroad … Various guarantees are sometimes included in small lines of general conditions for these means of payment. Between standard cards and high-quality cards, however, the list of covered risks, deductibles, and limits can vary greatly. So, should you get extra insurance to protect yourself when you go on vacation?

Are standard bank card deposits sufficient?

Entry level cards are the most marketable. their names? Mastercard Standard and Visa Classic are the best known brand names, but other brand names can be added to the list, such as Fosfo Mastercard, Visa Welcome, etc. These bank cards, free of charge in most online banks, attract a wide audience. In addition to the ability to make payments and withdrawals in France or abroad, these cards also offer a certain number of insurance and assistance services when paying with them: booking a trip, renting a car, etc. Thus the cardholder can be covered against a certain number of events, in addition to his wife, assets and children living in his home.

In order to accurately find out the guarantees contained in his contract, it is necessary to refer to the general conditions of his credit card, refer to the website of the banking institution, or contact customer service directly. Trip cancellation, illness, repatriation… Not all guarantees offered are the same from one bank to another, and discounts and ceilings do not apply. However, a spokesperson for comparison company Panorabanques, Basile Duval, specifies: “The entry-level bank cards, MasterCard and Visa Classic, offer limited guarantees.”

Also read: Credit Card: 5 Mistakes You Shouldn’t Make for a Successful Start of Vacation

Advanced Credit Card Security Highlights

If you have a standard bank card, you may want to consider getting optional additional insurance, depending on your destination, the length of your trip, the costs incurred for reservations, or who will be covered. In fact, ceilings are sometimes too low to provide adequate coverage. For example, coverage of medical expenses abroad was set at only 11,000 euros with a Visa Classic bank card, which is very insufficient in some countries where doctors’ fees can reach staggering amounts, for example in the United States. in Canada or in Australia.

On the other hand, insurance associated with a premium bank card can be very interesting. In the case of medical expenses abroad, these expenses can be up to 155,000 euros of support with a Blue Card, Gold Mastercard or Visa Premier. At the same time, civil liability insurance can be up to 2 million euros for some premium cards. On the other hand, these cards are often expensive, and therefore it may be better to switch to additional travel insurance than to change the scope of the card, especially for a one-time trip and/or a short-term trip. Allianz Partners, for example, offers a guarantee of medical expenses of up to 200,000 or 300,000 euros, which is enough to guarantee a peaceful departure on vacation!

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