Successful use of credit card insurance benefits?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
NYCaviator
Posts: 961
Joined: Sat Apr 09, 2016 5:06 pm
Location: NYC

Successful use of credit card insurance benefits?

Post by NYCaviator »

Has anyone successfully used the insurance benefits for their credit card? If so, what was benefits was it, what credit card, and how was the process?

A lot of the premium cards advertise their insurance as a selling point, but I'm curious if they will actually pay out in a timely fashion if a claim is made, or if they will do anything they can to delay or deny claims. I've always assumed AmEx is the easiest to deal with of all the issuers, but some real world examples would be nice.
tydas
Posts: 44
Joined: Thu May 03, 2018 2:28 pm

Re: Successful use of credit card insurance benefits?

Post by tydas »

I've not personally used but have seen datapoints and other reports that they do pay albeit slow. I always rely on the insurance given by my CSR as it only requires you pay for a portion of the trip on the card. Most other cards from issuers like Amex require the entire trip be added to the card.
birb
Posts: 46
Joined: Thu Oct 27, 2022 5:25 pm

Re: Successful use of credit card insurance benefits?

Post by birb »

I tried using the insurance with the Chase Sapphire Reserve. I had returned a very expensive item via UPS, and then they lost it, and due to it having some weirdness around it being an international shipment to Canada, UPS refused to honor the insurance despite fighting with them for a long time about it. So I tried filing a claim with Chase Purchase Protection since it was very clearly an involuntary loss. Turns out that Chase will not honor that policy for any item if it happened to be in the hands of a common carrier at the time of loss, and it was denied. I understand, but I was totally unaware of that fine print and bummed that I was out of that much money. So my advice would be to get your hands on the fine print, because I suspect there are exclusions built in for the most common sorts of claims.
runner3081
Posts: 5231
Joined: Mon Aug 22, 2016 3:22 pm

Re: Successful use of credit card insurance benefits?

Post by runner3081 »

Personally, many years ago, bought a small appliance, dropped it and had it replaced by the credit card company (covered all damages within 90-days I believe).

Just last week, my dad used his Citi Costco card extended warranty benefit, washing machine broke, no parts available, they paid out over $600 to replace it. Worth nothing, this benefit is going away 1-1-23.
Benbo
Posts: 57
Joined: Thu Oct 26, 2017 12:26 pm

Re: Successful use of credit card insurance benefits?

Post by Benbo »

I filed an insurance claim with Chase Ink, which outsources to Eclaims. My rental car was damaged while in Hawaii, someone tried to steal gas and scratched the area around the gas cap. $900 for the damage! Eclaims eventually paid, but it seemed like they were looking at every opportunity to deny the claim. Luckily, my spouse made me get a police report; otherwise I don't think they would have paid. I've also heard that Amex is better at paying claims, I'll use them in the future.
confusedinaz
Posts: 73
Joined: Sat Jan 21, 2012 4:01 pm

Re: Successful use of credit card insurance benefits?

Post by confusedinaz »

I recently used the Chase 90-day purchase protection to reimburse the repair of a computer monitor that was scratched accidentally. As mentioned above, it seemed like eClaims was going to deny the claim because they wanted a physical inspection. However, they ended approving the claim and reimbursing me $500 (which was the manufacturer's cost to replace the monitor panel, but not the whole monitor). Better than nothing and no real hassle.
RetiredAL
Posts: 2488
Joined: Tue Jun 06, 2017 12:09 am
Location: SF Bay Area

Re: Successful use of credit card insurance benefits?

Post by RetiredAL »

Yes - many years ago.

USAA card, which included rental car damage coverage's when the rental was charged to that card. Rental car got a cracked windshield from roadway debris. USAA card paid the claim.
d0gerz
Posts: 381
Joined: Thu Apr 10, 2014 9:45 pm

Re: Successful use of credit card insurance benefits?

Post by d0gerz »

I’ve successfully used Trip Delay coverage on the CSR. Flight was delayed and rebooked for the following day. I think the delay has to be at least 6 hours or overnight to be eligible. In my case they paid for Uber charges to/from the airport, since I had to leave and come back. I had family to stay with but imagine a hotel stay would have been covered as well. Process was relatively easy, had to fill out an online form and provide some documentation.
Hypersion
Posts: 295
Joined: Mon Feb 18, 2013 3:20 am

Re: Successful use of credit card insurance benefits?

Post by Hypersion »

I've used the 90 return policy and the extended warranty on my credit cards for the last 20 years or so. I've only had good experiences with it.
2behappytoday
Posts: 10
Joined: Fri Jul 16, 2021 3:42 pm

Re: Successful use of credit card insurance benefits?

Post by 2behappytoday »

I had a similar experience earlier this year using trip delay benefit from CSR. I filed online for reimbursement of $250ish airport hotel charge at my connection point caused by the delay, and as directed used Delta's online process for requesting their verification of the missed connection. To my pleasant surprise I received the reimbursement from CSR about five weeks later with no further involvement from me. I wasn't even going to follow up until 2 or 3 months had gone by.
SimonJester
Posts: 2352
Joined: Tue Aug 16, 2011 12:39 pm

Re: Successful use of credit card insurance benefits?

Post by SimonJester »

I have a cell phone protection plan with one credit card that pays for lost, stolen, damaged cell phones. I have used it twice with ease. Go online start the claim, submit the required paperwork and wait for a check...
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin
User avatar
eye.surgeon
Posts: 1136
Joined: Wed Apr 05, 2017 1:19 pm
Location: California

Re: Successful use of credit card insurance benefits?

Post by eye.surgeon »

Once had an expensive TV require a $1k repair (replaced circuit board) a few months after the factory 1 yr warranty expired, AmEx offers an extended warranty on stuff you buy (or used to) and after much time and effort they did pay for the repair but it was a PITA.
"I would rather be certain of a good return than hopeful of a great one" | Warren Buffett
smitcat
Posts: 9883
Joined: Mon Nov 07, 2016 10:51 am

Re: Successful use of credit card insurance benefits?

Post by smitcat »

Amex card for a cell phone - was pretty straight forward.
Amex card - trip cancellation insurance.
tortoise84
Posts: 263
Joined: Thu Nov 19, 2020 11:03 pm

Re: Successful use of credit card insurance benefits?

Post by tortoise84 »

I used the extended warranty benefit with a Chase Amazon Visa on a Seagate hard drive in a Network Attached Storage device. They asked me to get a diagnostic report from Seagate explaining what was wrong and whether it would be cost effective to repair. I got a report saying that the hard drive had failed, it was not cost effective to repair, and that they recommended replacement. So the benefit refunded me the full purchase price of $180.
SpaethCo
Posts: 351
Joined: Thu Jan 14, 2016 12:58 am
Location: Minneapolis

Re: Successful use of credit card insurance benefits?

Post by SpaethCo »

Both with Amex:

Trip delay - got diverted to another airport overnight as original destination was closed due to storms. Took 2 months, but they paid for the hotel stay plus breakfast the next day.

Purchase protection - wife bought a pair of leggings that ripped the first time she put them on. The store balked at offering a return, so we filed a claim for a damaged item with purchase protection and they fully covered the purchase within a day or two of filing the claim.
User avatar
beyou
Posts: 5010
Joined: Sat Feb 27, 2010 3:57 pm
Location: If you can make it there

Re: Successful use of credit card insurance benefits?

Post by beyou »

I would like to know about rental cars and loss of use fees.
Years ago I heard cc rental insurance generally would not pay this cost after a rental car accident.
hunoraut
Posts: 941
Joined: Sun May 31, 2020 11:39 am

Re: Successful use of credit card insurance benefits?

Post by hunoraut »

what i use most in order of frequency:

-return protection: get credit for things that retailer wont accept
-purchase protection: lost or damaged items
-extended warranty: self explanatory
-car rental insurance: superficial damage on rental cars (in europe they are ultra strict)

very easy to file claim and quick to get a response. very happy with all these perks.
talzara
Posts: 2901
Joined: Thu Feb 12, 2009 7:40 pm

Re: Successful use of credit card insurance benefits?

Post by talzara »

beyou wrote: Wed Nov 23, 2022 1:54 am I would like to know about rental cars and loss of use fees.
Years ago I heard cc rental insurance generally would not pay this cost after a rental car accident.
There are several credit cards that cover loss of use if a fleet utilization log shows no availability for the class of car. However, most car rental stations are unwilling to provide this since they consider it to be a trade secret.
BoglesBeagle
Posts: 12
Joined: Fri Oct 21, 2022 1:06 pm

Re: Successful use of credit card insurance benefits?

Post by BoglesBeagle »

I’ve had success with Chase, Citi and Amex extended warranties for smaller electronics like phones/MP3 players. One of the programs asked for the broken item to be sent in to them for salvage value but ended up paying nearly the entire original purchase price (probably more than the actual depreciated value of a device a few years old). Good value as you can replace with something newer.

One minor inconvenience is that generally these items are replaced instead of repaired, outside of straightforward parts like the screen. In my experience for something like a charging port or logic board failure, a third party shop generally wouldn’t give an estimate since a repair would usually involve replacing an unknown or uneconomical number of parts. For Apple products, I’ve found that an Apple Store, though they don’t have a quote system per se, can create a repair order and then place it on hold while you submit the claim. That paperwork can be submitted as the estimate to the insurance company. Usually the Apple repair prices are very close to the price of a new item, which wouldn’t make sense to pay out of pocket, but works in your favor with the insurance programs since it results in a payment very close to replacement value.

At one point I had decided I needed to go ahead with a MacBook battery replacement (something like $200-300) regardless of whether the extended warranty would cover it. Instead of doing the estimate process first, I just paid for the repair and submitted the claim to Amex afterwards. This was not an issue and Amex covered it in full.
sc9182
Posts: 1270
Joined: Wed Aug 17, 2016 7:43 pm

Re: Successful use of credit card insurance benefits?

Post by sc9182 »

CapitalOne Visa Signature cash-back card - covers the extended warranty protection. Had one laptop POST crashing (Dell), and one failing HP laptop as well - soon after 1-year manufacturer warranty period. Both Companies on-the-phone/email quoted repair cost for MotherBoars replacement was slightly-over our purchase price.

But the visa extended warranty management Co. wanted in-person Tech checkup to validate that our reported problem was infact not fixable and needs the MB replacement. In the end - they not only reimbursed for Laptops purchased prices, but also covered $65 for Tech’s analysis cost(s).

These two little claims from us “after” 15+ years of owning this card and possibly spending hundreds of thousands $$$s charged on it. Happy though: as the CC (Visa signature) kept/honored their extended-warranty promise.
Last edited by sc9182 on Sun Nov 27, 2022 6:07 pm, edited 1 time in total.
Weathering
Posts: 536
Joined: Sun Oct 15, 2017 4:20 pm

Re: Successful use of credit card insurance benefits?

Post by Weathering »

Would credit card roadside assistance be considered an insurance benefit?
I have a card offering this, but have yet to use it. Could possibly save me $25/yr vs. other roadside assistance solutions (car insurance addition or AAA).
Topic Author
NYCaviator
Posts: 961
Joined: Sat Apr 09, 2016 5:06 pm
Location: NYC

Re: Successful use of credit card insurance benefits?

Post by NYCaviator »

Interesting data points! Sounds like Amex may be the winner when it comes to handling claims in a timely fashion. Unfortunately, they've pretty much done away with most of their insurance products, except for the platinum card.
Post Reply