Chase Sapphire Reserve travel insurance

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kanu
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Chase Sapphire Reserve travel insurance

Post by kanu » Fri Jul 27, 2018 7:09 pm

Just curious what people's experience with this has been? Mine has been horrendous ... changing stories when I check, excuses, obfuscation even after I was told (twice) that all necessary paperwork had been supplied. Renewal is going up, and I'm thinking about going back to AMEX Platinum even given the higher cost.

Any recommendations for a card with good travel perks including travel protection this isn't worthless?

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car733
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Re: Chase Sapphire Reserve travel insurance

Post by car733 » Sat Jul 28, 2018 8:19 am

Were you talking to chase directly?
I never had to use it but I know you can reimburse up to 2.5k.

Do you mind explaining what happened?

TravelGeek
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Re: Chase Sapphire Reserve travel insurance

Post by TravelGeek » Sat Jul 28, 2018 8:54 am

I have never used it (or needed to), but perhaps this thread on FT has some helpful info. Start with the Wiki at the top.

https://www.flyertalk.com/forum/chase-u ... ments.html

junetree
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Re: Chase Sapphire Reserve travel insurance

Post by junetree » Sat Jul 28, 2018 9:01 am

Used CS Preferred for trip cancellation before for full reimbursement of one domestic ticket.

infotrader
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Re: Chase Sapphire Reserve travel insurance

Post by infotrader » Sat Jul 28, 2018 9:38 am

car733 wrote:
Sat Jul 28, 2018 8:19 am
Were you talking to chase directly?
I never had to use it but I know you can reimburse up to 2.5k.

Do you mind explaining what happened?
My son's flight was cancelled in Shanghai last year. They were a party of five. Chase gave them 500 credit each to spend in the next 24 hours, which they did. I wonder if that counts.

bberris
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Re: Chase Sapphire Reserve travel insurance

Post by bberris » Sat Jul 28, 2018 1:36 pm

Edit: My post is about Chase Sapphire Preferred included insurance, not CSR. Someone noted that the terms of the insurance are different with each card.

I was only reimbursed for the change fee for my tickets that were canceled. Each ticket was $530 with a $300 change fee each. I argued that we could not reschedule with that airline for anywhere near that price (this was MSP to FCO), so the remaining credit is worthless. I am supposed to file another claim when our credit expires next year.

The lesson I learned is that you are better off with a non-refundable ticket, than one with a change fee.

Is Amex insurance any better?
Last edited by bberris on Tue Jul 31, 2018 6:41 am, edited 1 time in total.

kanu
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Re: Chase Sapphire Reserve travel insurance

Post by kanu » Sat Jul 28, 2018 1:52 pm

It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.

aqan
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Re: Chase Sapphire Reserve travel insurance

Post by aqan » Sat Jul 28, 2018 9:37 pm

infotrader wrote:
Sat Jul 28, 2018 9:38 am
car733 wrote:
Sat Jul 28, 2018 8:19 am
Were you talking to chase directly?
I never had to use it but I know you can reimburse up to 2.5k.

Do you mind explaining what happened?
My son's flight was cancelled in Shanghai last year. They were a party of five. Chase gave them 500 credit each to spend in the next 24 hours, which they did. I wonder if that counts.
that 24 hour twist is a crazy condition.

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willthrill81
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Re: Chase Sapphire Reserve travel insurance

Post by willthrill81 » Sat Jul 28, 2018 9:44 pm

kanu wrote:
Sat Jul 28, 2018 1:52 pm
It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.
Regarding buying travel insurance, you're better off to self-insure any risk that would not be financially detrimental to you if it occurred. Losing a few thousand dollars, for instance, on a travel problem should not be financially detrimental to you. There is no 'free lunch' to buying insurance; on average, the insurance company wins.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

thx1138
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Re: Chase Sapphire Reserve travel insurance

Post by thx1138 » Sun Jul 29, 2018 6:38 am

willthrill81 wrote:
Sat Jul 28, 2018 9:44 pm
kanu wrote:
Sat Jul 28, 2018 1:52 pm
It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.
Regarding buying travel insurance, you're better off to self-insure any risk that would not be financially detrimental to you if it occurred. Losing a few thousand dollars, for instance, on a travel problem should not be financially detrimental to you. There is no 'free lunch' to buying insurance; on average, the insurance company wins.
In the general case of should you insure every trip you take in your life then indeed you should self insure.

The reality though is that travel insurance is heavily impacted by asymmetric information (much like LTC). So there are cases in which it makes sense to buy if you expect a higher than normal likelihood of needing it. Some examples being knowing a high probability of a family health crisis in the near term, fair chance of a visa application being rejected or delayed, job requiring you to cancel. Naturally when armed with asymmetric information like that you should be sure the insurance you are buying covers the risk you are trying to insure against! There is a lot of fine print in those policies to read through.

remomnyc
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Re: Chase Sapphire Reserve travel insurance

Post by remomnyc » Sun Jul 29, 2018 7:07 am

I purchased my ticket with Chase and Chase reimbursed me to replace what I had lost when my bag was returned with items missing.

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willthrill81
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Re: Chase Sapphire Reserve travel insurance

Post by willthrill81 » Sun Jul 29, 2018 9:07 am

thx1138 wrote:
Sun Jul 29, 2018 6:38 am
willthrill81 wrote:
Sat Jul 28, 2018 9:44 pm
kanu wrote:
Sat Jul 28, 2018 1:52 pm
It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.
Regarding buying travel insurance, you're better off to self-insure any risk that would not be financially detrimental to you if it occurred. Losing a few thousand dollars, for instance, on a travel problem should not be financially detrimental to you. There is no 'free lunch' to buying insurance; on average, the insurance company wins.
In the general case of should you insure every trip you take in your life then indeed you should self insure.

The reality though is that travel insurance is heavily impacted by asymmetric information (much like LTC). So there are cases in which it makes sense to buy if you expect a higher than normal likelihood of needing it. Some examples being knowing a high probability of a family health crisis in the near term, fair chance of a visa application being rejected or delayed, job requiring you to cancel. Naturally when armed with asymmetric information like that you should be sure the insurance you are buying covers the risk you are trying to insure against! There is a lot of fine print in those policies to read through.
That's certainly true, but you must be sure that the insurance you obtain will allow you to reimbursed for the reason the trip was interrupted or cancelled. For some, it must be deemed to be out of your control or due to illness.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

ResearchMed
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Re: Chase Sapphire Reserve travel insurance

Post by ResearchMed » Sun Jul 29, 2018 9:27 am

kanu wrote:
Fri Jul 27, 2018 7:09 pm
Just curious what people's experience with this has been? Mine has been horrendous ... changing stories when I check, excuses, obfuscation even after I was told (twice) that all necessary paperwork had been supplied. Renewal is going up, and I'm thinking about going back to AMEX Platinum even given the higher cost.

Any recommendations for a card with good travel perks including travel protection this isn't worthless?
Double check if the charge card includes coverage due to pre-existing conditions. Many do *not*.

Note that this is not only for actual payment for medical costs, etc.
It could be the reason for cancellation or interruption.
And trip interruption can cost much more than trip cancellation. New return tickets purchased at the last minute may be much more expensive than the original tickets... which were still already paid for. And one may need to pay for hotel stays in towns one didn't plan to be in, perhaps for several extra days (if someone gets sick and can't travel). Etc....

Coverages also differ in terms of whether (and how) they include cancellation/interruption due to medical emergencies for non-traveling family members.

We always get travel insurance from a third party travel insurer.
We've used

www.TripInsuranceStore.com

(which we learned about on www.CruiseCritic.com - which also has LOTS of travel-related information that is not specific to cruising).

They use several insurers, and they are terrific in terms of being pro-active and asking questions to help one decide what types of coverage one needs or does *not* need.

There is also a rider usually available that is "Cancel For Any Reason" (CFAR), which is just as it sounds.
That's useful if someone might be traveling to "iffy" areas. If there is disruption "nearby", most regular policies won't cover changes until the area you are actually visiting is affected, etc.

Note that for some of the more important types of coverage, the insurance must be started within 10-20 days of the first payment/deposit, although only that amount needs to be insured.
(For those missing that deadline, there is at least one company that will include the important coverages, including pre-existing conditions, if one starts the insurance within 24 hours of final payment, defined narrowly of course.)

It can get tricky about whether and how (much) the travel insurance will cover, etc.

The important thing is to *read* the fine print and/or ask the broker/agent.
-->> IF they verbally tell you something "is covered", ask them to *show* you where it says that in the policy.

RM
This signature is a placebo. You are in the control group.

wootwoot
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Re: Chase Sapphire Reserve travel insurance

Post by wootwoot » Sun Jul 29, 2018 9:38 am

What part of the travel insurance are you having issues with? Their travel insurance covers 6 major categories outlined here: https://www.creditdonkey.com/chase-sapp ... rance.html

ResearchMed
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Re: Chase Sapphire Reserve travel insurance

Post by ResearchMed » Sun Jul 29, 2018 10:11 am

wootwoot wrote:
Sun Jul 29, 2018 9:38 am
What part of the travel insurance are you having issues with? Their travel insurance covers 6 major categories outlined here: https://www.creditdonkey.com/chase-sapp ... rance.html
I'm not familiar first-hand with any charge card coverages, but the link above to the Chase Sapphire benefits includes a statement that they will provide HELP with emergency/medical assistance, but "This is an information-only service, though. The cost for services you receive are not covered by the Chase benefit and "Chase Sapphire Preferred does NOT cover include medical coverage" whereas "Chase Sapphire Reserve does cover up to $2,500 for emergency medical care".
Regular Medicare does NOT cover medical care outside the USA, with very few exceptions.

The pre-existing medical condition coverage, or lack there-of, isn't mentioned.
I also don't see any mention about if something happens to a non-insured traveling companion, or non-traveling family member.

And there's no mention of how trip interruption can cost much more than the cost of the trip.
(Most third-party travel insurance policies therefore allow up to 150% for "interruption" expenses.)

Lots of fine print, is the take-away lesson.\

RM
This signature is a placebo. You are in the control group.

Cop51
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Re: Chase Sapphire Reserve travel insurance

Post by Cop51 » Sun Jul 29, 2018 10:18 am

I had to cancel a flight due to being forced to work when I was previously scheduled off. I called and stated my case that did not qualify for reimbursement under cancellation policy. They said I could submit and application but I just ate the $300. I could have lied but wasn’t worth it.

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NavyIC3
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Re: Chase Sapphire Reserve travel insurance

Post by NavyIC3 » Sun Jul 29, 2018 10:36 am

ResearchMed wrote:
Sun Jul 29, 2018 10:11 am
wootwoot wrote:
Sun Jul 29, 2018 9:38 am
What part of the travel insurance are you having issues with? Their travel insurance covers 6 major categories outlined here: https://www.creditdonkey.com/chase-sapp ... rance.html
I'm not familiar first-hand with any charge card coverages, but the link above to the Chase Sapphire benefits includes a statement that they will provide HELP with emergency/medical assistance, but "This is an information-only service, though. The cost for services you receive are not covered by the Chase benefit and "Chase Sapphire Preferred does NOT cover include medical coverage" whereas "Chase Sapphire Reserve does cover up to $2,500 for emergency medical care".
Regular Medicare does NOT cover medical care outside the USA, with very few exceptions.

The pre-existing medical condition coverage, or lack there-of, isn't mentioned.
I also don't see any mention about if something happens to a non-insured traveling companion, or non-traveling family member.

And there's no mention of how trip interruption can cost much more than the cost of the trip.
(Most third-party travel insurance policies therefore allow up to 150% for "interruption" expenses.)

Lots of fine print, is the take-away lesson.\

RM
Download the "Chase Sapphire Reserve Benefits Guide". Everything is explained in detail in the guide.
https://www.chasebenefits.com/sapphirereserve

pmj78910
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Re: Chase Sapphire Reserve travel insurance

Post by pmj78910 » Sun Jul 29, 2018 11:46 am

I had to cancel a pre-paid Hotel reservation due to a flight cancellation from bad weather. I had booked the hotel on my Chase Sapphire Reserve card and there was no problem at all with the cancellation. The charge was promptly credited back to my account.

ryman554
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Re: Chase Sapphire Reserve travel insurance

Post by ryman554 » Mon Jul 30, 2018 8:41 am

Cop51 wrote:
Sun Jul 29, 2018 10:18 am
I had to cancel a flight due to being forced to work when I was previously scheduled off. I called and stated my case that did not qualify for reimbursement under cancellation policy. They said I could submit and application but I just ate the $300. I could have lied but wasn’t worth it.
Why go through the card company instead of filing a business expense form for $300? Any company I would like to work for would honor that.

Exterous
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Re: Chase Sapphire Reserve travel insurance

Post by Exterous » Mon Jul 30, 2018 11:37 am

I've used them 4 times over the past 5 years or so:
2 Luggage delay related claims
2 flight cancellations due to weather

The first luggage claim was a PITA because I had to consistently follow up and finally get a supervisor at the insurance company involved. They did eventually pay out. The other luggage claim was relatively painless. Both flight cancellations were painless. While one was just a hotel room for the night the other surprised me with how easy it was. My flight to Detroit was cancelled so I eventually found a flight to Cleveland and drove the rest of the way. I had no problems getting the one way rental car and gas cost covered. While not explicitly covered by the insurance my argument was that the rental car and gas cost was less the airline estimated 3 day delay for two covered people due to the massive blizzard. (I was also willing to take the risk of not being reimbursed). Their only response was to send me a check covering the costs.

UALflyer
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Re: Chase Sapphire Reserve travel insurance

Post by UALflyer » Mon Jul 30, 2018 11:51 am

Exterous wrote:
Mon Jul 30, 2018 11:37 am
I've used them 4 times over the past 5 years or so:
Chase Sapphire Reserve hasn't been around that long. The terms of travel insurance that comes with other Chase cards are somewhat different.

UALflyer
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Re: Chase Sapphire Reserve travel insurance

Post by UALflyer » Mon Jul 30, 2018 12:05 pm

willthrill81 wrote:
Sat Jul 28, 2018 9:44 pm
kanu wrote:
Sat Jul 28, 2018 1:52 pm
It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.
Regarding buying travel insurance, you're better off to self-insure any risk that would not be financially detrimental to you if it occurred. Losing a few thousand dollars, for instance, on a travel problem should not be financially detrimental to you. There is no 'free lunch' to buying insurance; on average, the insurance company wins.
This thread is not about purchasing travel insurance: it is about optimizing travel insurance that comes included with various credit cards out there. In other words, if it already makes financial sense for to carry your credit cards, you should compare the terms of their included travel insurance and other benefits and charge your trips to the one that offers the best value.

Further, as others have pointed out above, there are actually countless situations where insurance can be purchased strategically and there is a substantial likelihood of a payout. Hence, the fact that on average insurance companies make money tells you absolutely nothing about your individual decisions. Banks also make a lot of money on credit cards. Does this mean that you should you forego a cashback credit card even if never carry a balance? Of course not, and it'd be dumb to do so. There are plenty of insurance purchases that work very similarly.
Last edited by UALflyer on Mon Jul 30, 2018 1:59 pm, edited 1 time in total.

MikeZ
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Re: Chase Sapphire Reserve travel insurance

Post by MikeZ » Mon Jul 30, 2018 12:40 pm

Had CSP and wife was hospitalized while in Germany. We had to cancel the rest of the trip and fly back early.

Travel insurance covered the remaining hotel nights (hint: cancel, don't no show) and the original non-refundable flight back. A few grand. It look a lot of paper work though, confirmations of booking, credit card statements showing we paid, hospital records, doctors note, etc. About 50 pages of documentation.

Did not cover the hotel we booked once out of hospital to get ready to fly back or our new flight back.

mnnice
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Re: Chase Sapphire Reserve travel insurance

Post by mnnice » Mon Jul 30, 2018 1:58 pm

We had an awful experience as well, but eventual made whole. DH and I argued more than once that the other should call and complain this time.

Cop51
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Re: Chase Sapphire Reserve travel insurance

Post by Cop51 » Mon Jul 30, 2018 7:26 pm

ryman554 wrote:
Mon Jul 30, 2018 8:41 am
Cop51 wrote:
Sun Jul 29, 2018 10:18 am
I had to cancel a flight due to being forced to work when I was previously scheduled off. I called and stated my case that did not qualify for reimbursement under cancellation policy. They said I could submit and application but I just ate the $300. I could have lied but wasn’t worth it.
Why go through the card company instead of filing a business expense form for $300? Any company I would like to work for would honor that.
Because I'm a public employee and tax payers would lose their minds if they found out I got reimbursed for something like that.

ryman554
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Re: Chase Sapphire Reserve travel insurance

Post by ryman554 » Tue Jul 31, 2018 8:39 am

Cop51 wrote:
Mon Jul 30, 2018 7:26 pm
ryman554 wrote:
Mon Jul 30, 2018 8:41 am
Cop51 wrote:
Sun Jul 29, 2018 10:18 am
I had to cancel a flight due to being forced to work when I was previously scheduled off. I called and stated my case that did not qualify for reimbursement under cancellation policy. They said I could submit and application but I just ate the $300. I could have lied but wasn’t worth it.
Why go through the card company instead of filing a business expense form for $300? Any company I would like to work for would honor that.
Because I'm a public employee and tax payers would lose their minds if they found out I got reimbursed for something like that.
You scheduled a vacation and your unit bought off on it. Then the business changed and caused you economic hardship. If they want me to work those days, they have to eat the change fee. Simple as that. This is not unreasonable.

I admire your desire to minimize the impact the US taxpayer.

smitcat
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Re: Chase Sapphire Reserve travel insurance

Post by smitcat » Tue Jul 31, 2018 12:06 pm

UALflyer wrote:
Mon Jul 30, 2018 12:05 pm
willthrill81 wrote:
Sat Jul 28, 2018 9:44 pm
kanu wrote:
Sat Jul 28, 2018 1:52 pm
It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.
Regarding buying travel insurance, you're better off to self-insure any risk that would not be financially detrimental to you if it occurred. Losing a few thousand dollars, for instance, on a travel problem should not be financially detrimental to you. There is no 'free lunch' to buying insurance; on average, the insurance company wins.
This thread is not about purchasing travel insurance: it is about optimizing travel insurance that comes included with various credit cards out there. In other words, if it already makes financial sense for to carry your credit cards, you should compare the terms of their included travel insurance and other benefits and charge your trips to the one that offers the best value.

Further, as others have pointed out above, there are actually countless situations where insurance can be purchased strategically and there is a substantial likelihood of a payout. Hence, the fact that on average insurance companies make money tells you absolutely nothing about your individual decisions. Banks also make a lot of money on credit cards. Does this mean that you should you forego a cashback credit card even if never carry a balance? Of course not, and it'd be dumb to do so. There are plenty of insurance purchases that work very similarly.
And there are also states like NY where you can cancel the travel insurance 48 hours before the trip begins and get a full refund of the insurance.
So in those cases you can have the insurance up to two days before for no cost.

HIinvestor
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Re: Chase Sapphire Reserve travel insurance

Post by HIinvestor » Tue Jul 31, 2018 12:22 pm

It can also depend on the adjuster. In 2010, had to cancel trip to Europe due to Iceland volcano exploding AND a lung infection with a note from my lung doc. Got full reimbursement of $150 change fees for all 4 of us for $600. Only needed claim form and letter from on MD. Believe it was Chase Sapphire preferred.

All other expenses (even nonrefundable) were fully refunded via CC they had been reserved with—airline, hotels, etc.

More recently in May 2018, had 20 hour flight delay and consumed $157 more in food than the $60 in meal vouchers. Had to fight for 2 months and submit extensive documentation but did eventually get refund check. It was really odd that they kept stmaying more docs were needed and saying adjuster wasn’t available to explain what docs were missing. Again, it was Chase Sapphire Preferred. This time, it felt like there was A LOT of intentional delay for no explainable reason.

Theseus
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Re: Chase Sapphire Reserve travel insurance

Post by Theseus » Tue Jul 31, 2018 12:40 pm

remomnyc wrote:
Sun Jul 29, 2018 7:07 am
I purchased my ticket with Chase and Chase reimbursed me to replace what I had lost when my bag was returned with items missing.
I should have done that. I bought a nice backpack for my daughter in Barcelona. Didn't lock my bag. And it was packed on the top. At home we kept searching all the bags. And couldn't find it - so it was stolen after we checked in. Delta wouldn't touch it because it was a codeshare flight with KLM. And KLM wouldn't do anything about it either. And mind you this was a paid business class ticket. The backpack was only 30 euros so I dropped the claim process but it bothered me a lot since we spend some time finding a somewhat local piece for her.

But good to know that Chase has your back.

ResearchMed
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Re: Chase Sapphire Reserve travel insurance

Post by ResearchMed » Tue Jul 31, 2018 12:57 pm

smitcat wrote:
Tue Jul 31, 2018 12:06 pm
UALflyer wrote:
Mon Jul 30, 2018 12:05 pm
willthrill81 wrote:
Sat Jul 28, 2018 9:44 pm
kanu wrote:
Sat Jul 28, 2018 1:52 pm
It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.
Regarding buying travel insurance, you're better off to self-insure any risk that would not be financially detrimental to you if it occurred. Losing a few thousand dollars, for instance, on a travel problem should not be financially detrimental to you. There is no 'free lunch' to buying insurance; on average, the insurance company wins.
This thread is not about purchasing travel insurance: it is about optimizing travel insurance that comes included with various credit cards out there. In other words, if it already makes financial sense for to carry your credit cards, you should compare the terms of their included travel insurance and other benefits and charge your trips to the one that offers the best value.

Further, as others have pointed out above, there are actually countless situations where insurance can be purchased strategically and there is a substantial likelihood of a payout. Hence, the fact that on average insurance companies make money tells you absolutely nothing about your individual decisions. Banks also make a lot of money on credit cards. Does this mean that you should you forego a cashback credit card even if never carry a balance? Of course not, and it'd be dumb to do so. There are plenty of insurance purchases that work very similarly.
And there are also states like NY where you can cancel the travel insurance 48 hours before the trip begins and get a full refund of the insurance.
So in those cases you can have the insurance up to two days before for no cost.
I seriously doubt that this is the case for all travel insurance bought by residents of NY state.
Either that, or the rates much be sky high to allow for all of the claims paid prior to 2 days, plus all the premiums paid back for the rest of the policies. So much for the pooling as it is usually done with insurance.

RM
This signature is a placebo. You are in the control group.

Flux
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Re: Chase Sapphire Reserve travel insurance

Post by Flux » Tue Jul 31, 2018 2:06 pm

I became ill while traveling and had to cut my trip short and book a new flight home. I used the insurance provided by the CSR and it was very painful. I had two claims (one for wife, one for me) and they said to send them in the same envelope. I did so and they say they received one claim, which resulting in me sending the documents in again. There are obvious disconnects in their processes. It took months of calls, sending documents, waiting, etc. They denied it and I had to appeal to get them to payout. In the end they honored my claim but I had to fight for it.

smitcat
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Re: Chase Sapphire Reserve travel insurance

Post by smitcat » Tue Jul 31, 2018 2:07 pm

ResearchMed wrote:
Tue Jul 31, 2018 12:57 pm
smitcat wrote:
Tue Jul 31, 2018 12:06 pm
UALflyer wrote:
Mon Jul 30, 2018 12:05 pm
willthrill81 wrote:
Sat Jul 28, 2018 9:44 pm
kanu wrote:
Sat Jul 28, 2018 1:52 pm
It appears that AMEX Platinum no longer offers travel insurance. My recollection is that they did ... not sure as I switched nearly two years ago. As to our current Reserve card, looks like I'll downshift to Preferred and use the savings to purchase independent travel insurance when traveling.
Regarding buying travel insurance, you're better off to self-insure any risk that would not be financially detrimental to you if it occurred. Losing a few thousand dollars, for instance, on a travel problem should not be financially detrimental to you. There is no 'free lunch' to buying insurance; on average, the insurance company wins.
This thread is not about purchasing travel insurance: it is about optimizing travel insurance that comes included with various credit cards out there. In other words, if it already makes financial sense for to carry your credit cards, you should compare the terms of their included travel insurance and other benefits and charge your trips to the one that offers the best value.

Further, as others have pointed out above, there are actually countless situations where insurance can be purchased strategically and there is a substantial likelihood of a payout. Hence, the fact that on average insurance companies make money tells you absolutely nothing about your individual decisions. Banks also make a lot of money on credit cards. Does this mean that you should you forego a cashback credit card even if never carry a balance? Of course not, and it'd be dumb to do so. There are plenty of insurance purchases that work very similarly.
And there are also states like NY where you can cancel the travel insurance 48 hours before the trip begins and get a full refund of the insurance.
So in those cases you can have the insurance up to two days before for no cost.
I seriously doubt that this is the case for all travel insurance bought by residents of NY state.
Either that, or the rates much be sky high to allow for all of the claims paid prior to 2 days, plus all the premiums paid back for the rest of the policies. So much for the pooling as it is usually done with insurance.

RM
That is our experience with our travel insurance based in NY state, in most cases Allianz. Of course since no one really knows this they likely do not end up utilizing the regulations.
I am not aware of other states which may have these regulations but I would not be surprised to hear that they do - and I would not be surprised to hear that the folks that live in those state are mostly not aware of them.

BogleMelon
Posts: 1529
Joined: Mon Feb 01, 2016 11:49 am

Re: Chase Sapphire Reserve travel insurance

Post by BogleMelon » Thu Aug 16, 2018 3:14 pm

Cop51 wrote:
Mon Jul 30, 2018 7:26 pm
ryman554 wrote:
Mon Jul 30, 2018 8:41 am
Cop51 wrote:
Sun Jul 29, 2018 10:18 am
I had to cancel a flight due to being forced to work when I was previously scheduled off. I called and stated my case that did not qualify for reimbursement under cancellation policy. They said I could submit and application but I just ate the $300. I could have lied but wasn’t worth it.
Why go through the card company instead of filing a business expense form for $300? Any company I would like to work for would honor that.
Because I'm a public employee and tax payers would lose their minds if they found out I got reimbursed for something like that.
Never heard about a public employee who is forced to cancel his vacation to work! But everything is possible in this world!
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

fasteddie911
Posts: 140
Joined: Fri May 16, 2008 3:13 pm

Re: Chase Sapphire Reserve travel insurance

Post by fasteddie911 » Fri Aug 17, 2018 9:43 am

Had to use trip cancellation insurance due to a family emergency. The paperwork we had to submit was a bit annoying, but understandable so that they weed out scammers, but we followed their rules, submitted the required documents (online), checked in occasionally on the status and eventually got fully reimbursed.

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