Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Travel insurance benefit under chase sapphire reserve credit card
Old 09-09-2017, 11:21 AM   #1
Recycles dryer sheets
Osprey's Avatar
 
Join Date: Jul 2016
Posts: 77
Travel insurance benefit under chase sapphire reserve credit card

I am trying to decide whether to renew this credit card and am planning to travel abroad for 2 weeks next year and would likely purchase travel insurance for that trip. Has anyone had experience using the trip insurance that comes for free with this credit card? If it is good, that combined with no foreign transaction fees would cause me to keep the card which would cost $150 for the year and pay 3% back on travel and restaurant charges.
__________________

Osprey is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-09-2017, 01:22 PM   #2
Recycles dryer sheets
 
Join Date: Jul 2016
Location: New Hampshire
Posts: 379
I think Sapphire Reserve is worth it - you didn't include the lounge access, which I used to pay hundreds for. I stopped buying separate trip insurance once I got the Sapphire Reserve card, though I have not had to use the insurance. My experience with separately purchased trip insurance is not all that positive. You also get 50% added value for points used to purchase travel.
__________________

__________________
Steve
jonat is offline   Reply With Quote
Old 09-09-2017, 02:15 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,523
Quote:
Originally Posted by Osprey View Post
I am trying to decide whether to renew this credit card and am planning to travel abroad for 2 weeks next year and would likely purchase travel insurance for that trip. Has anyone had experience using the trip insurance that comes for free with this credit card? If it is good, that combined with no foreign transaction fees would cause me to keep the card which would cost $150 for the year and pay 3% back on travel and restaurant charges.
Osprey,

Would you be willing to provide a link for this card? The Chase Sapphire Reserve from my google search is $450/yr.

omni
omni550 is offline   Reply With Quote
Old 09-09-2017, 07:22 PM   #4
Recycles dryer sheets
Osprey's Avatar
 
Join Date: Jul 2016
Posts: 77
"Would you be willing to provide a link for this card? The Chase Sapphire Reserve from my google search is $450/yr. "


The fee is $450/year minus a $300 travel spending credit = $150 cost/year
Osprey is offline   Reply With Quote
Old 09-09-2017, 07:30 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,523
Quote:
Originally Posted by Osprey View Post
"Would you be willing to provide a link for this card? The Chase Sapphire Reserve from my google search is $450/yr. "


The fee is $450/year minus a $300 travel spending credit = $150 cost/year
Ahhh...thanks! Any limit on what constitutes "travel" for the $300 credit -- I assume hotels, airplanes, cruises qualify...what else?

omni
omni550 is offline   Reply With Quote
Old 09-09-2017, 07:50 PM   #6
Recycles dryer sheets
Osprey's Avatar
 
Join Date: Jul 2016
Posts: 77
With the Chase Sapphire Reserve card you receive up to $300 in statement credits for any travel related purchases. This includes airfare, hotels, cruises, trains, taxis, amtrak, etc.
Osprey is offline   Reply With Quote
Old 09-10-2017, 03:51 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2005
Posts: 5,464
Quote:
Originally Posted by omni550 View Post
Ahhh...thanks! Any limit on what constitutes "travel" for the $300 credit -- I assume hotels, airplanes, cruises qualify...what else?

omni
restaurants , uber , in some states ez-pass . it really depends on the coding the vendor uses .

you can get things typically from underground tourist like admissions to places which typically are not covered because they are coded as travel and not attractions which are not covered .

ny ez-pass is coded gov't services so it does not count . other states code it as travel .
mathjak107 is offline   Reply With Quote
Old 09-10-2017, 07:01 AM   #8
Thinks s/he gets paid by the post
Red Badger's Avatar
 
Join Date: Jan 2017
Location: Piedmont Region
Posts: 1,091
I'm a fan of Chase Sapphire and Marriott cards. I think the 100K points, perks and credits are a decent value for moderate (or higher) travelers.
__________________
Never let yesterday use up too much of today.
W. Rogers
Red Badger is online now   Reply With Quote
Old 09-10-2017, 07:15 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2005
Posts: 5,464
the chase cards are 50,000 points now . if you go into the bank and apply and are chase private account clients you can get 60k
mathjak107 is offline   Reply With Quote
Old 09-10-2017, 08:45 AM   #10
Recycles dryer sheets
 
Join Date: Aug 2010
Posts: 402
My annual fee is not due yet. But, I do plan to pay and continue using it.

Some benefits that I might use for $150 ($450 - $300 travel credits):
1. travel, restaurant use to receive 3 points per dollar.
2. VIP lounge
3. rental car insurance coverage
4. travel insurance, including medical evacuation (so I do not plan to purchase travel insurance)
5. road side service for primary vehicle ( so I dropped AAA, and auto-insurance road side service )

There are other benefits but I have no plans to use the rest.
fh2000 is offline   Reply With Quote
Old 09-10-2017, 08:49 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2005
Posts: 5,464
the terms of travel insurance coverage on the card is very very narrow compared to the broader policies you can buy .

the card has only specific instances you can cancel and collect .

anything pre-existing gives you no coverage . that word pre-existing can mean a whole lot of stuff they don't have to pay on .


the rental car coverage can be a minefield .

while they cover loss of use most credit card companies also require a utilization report . that means if they have 5 ford focus unrented and you damaged one they will not pay .

these reports are considered proprietary information and the rental companies do not release the reports as they don't want competitor's to know what moves and what doesn't .

you can get stuck with the bill since the cards don't have to pay if the damages are severe enough nd they want to opt out of the coverage . .



Trip cancellation
Who is covered?
The cardholder, plus Spouse or Domestic Partner and their children, including adopted children or step-children; legal guardians or wards; siblings or siblings-in-law; parents or parents-in-law; grandparents or grandchildren; aunts or uncles; nieces or nephews on or before the trip departure date.
What is covered?
A trip that must be canceled before departure* for a covered reason, which is limited to accidental injury, death, or sickness experienced by the card holder or immediate family or traveling companions; severe weather; and for a few other reasons such as unavoidable jury duty. If the trip was arranged with points or miles, you'll be reimbursed with the same number of points or miles you used for the trip. Needless to say, some part of your airline fare must be charged to your Chase Sapphire card.*
What is not covered?
Trip cancellation insurance does not cover you if the airline cancels or changes your flight, unless the cause is severe weather. Pre-existing conditions are excluded. And if you've bought travel insurance elsewhere, you must make a claim on that policy first.
Trip interruption
Trip interruption insurance kicks in after you've departed on your travel and a covered reason "interrupts" your trip.
*What is covered?

Trips interrupted by injuries and sickness are covered unless a pre-existing condition, as is severe weather, but not much else.* Same $5000 in coverage, same immediate family. Your covered trip cannot exceed 60 days in duration.
What is not covered?
Most importantly for air travel, this part of the insurance does not "apply to any…loss caused by or resulting from, directly or indirectly…travel arrangements canceled or changed by [an airline], tour operator or travel agent unless the cancellation is the result of severe weather…" So a mechanical delay appears to be not covered, which is pretty limiting ("Trip Delay" coverage, below, helps a bit with mechanical delays). If the crew "times out" (has worked too many hours and can no longer fly), it's not covered. *Basically, there are about a dozen possible ways your trip could be interrupted besides severe weather that would fall through the cracks.
Trip Delay
Then there's trip delay insurance with this card, which is different apparently than trip interruption insurance. Stick with us now. This is when you've started your trip and your progress is delayed by a covered reason.
What is covered?
A trip that is delayed more than 12 hours or requires an overnight stay due to equipment failure, weather and labor strikes only. At least some of your fare must be charged to your Sapphire card (many cards require the entire amount to be charged). This is excess coverage (if the airline pays for part of your hotel stay, Chase would pay the rest).*Trip delay insurance only applies to tound trip
mathjak107 is offline   Reply With Quote
Old 09-10-2017, 03:03 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2007
Posts: 7,690
I have the Reserve right now and I'm considering keeping it for another year too. Might be headed back to Europe all next summer and the travel benefits and lounge access are a sweet perk when the net annual cost is only $150 (after the $300 travel reimbursement). That travel/restaurant earnings at 3% is nice since it translates to a 4.5% award if you book more travel with the Chase Ultimate Reward points. Just booked an oceanfront hotel suite w/ free breakfast for 5-6 people for 7,000 UR pts/nt for example.

Other thoughts: you can cancel the card and receive a prorated refund of the annual fee I think. Also try to cancel and get a nice retention offer (spend $5,000 in next 6 months and get 15,000 ultimate reward points for example - no clue if they are this generous though).
__________________
Retired in 2013 at age 33. Keeping busy reading, blogging, relaxing, gaming, and enjoying the outdoors with my wife and 3 kids (6, 12, and 13).
FUEGO is offline   Reply With Quote
Old 09-11-2017, 03:11 AM   #13
Recycles dryer sheets
 
Join Date: Jul 2016
Location: New Hampshire
Posts: 379
I have renewed my Sapphire Reserve card once already, plan to keep it.
__________________
Steve
jonat is offline   Reply With Quote
Old 09-11-2017, 09:22 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 2,523
For those of you experienced with the Sapphire Reserve card, will the travel insurance cover you on something like a car trip into Canada...a day trip, for example (where you wouldn't be buying an airline or train ticket and not staying at a hotel)?

---------

The reason I'm asking is, I travel a lot and often quite spontaneously ....sometimes flying to Europe for a month, other times taking a 2-week cruise somewhere, and other times, simply driving 30 miles from home over into Canada (going for either a day trip or popping over to Toronto for a long weekend).

As I'm now on Medicare, I'd like to have "continuous" (as compared to a specific-trip-related policy) travel insurance for my non-US travels, especially medical evac coverage.

Does anyone know how the Sapphire Reserve coverage works? Does it only apply if you've already prepaid for your travels using their card...or is it "continuous coverage"?

omni
omni550 is offline   Reply With Quote
Old 09-11-2017, 11:37 AM   #15
Recycles dryer sheets
 
Join Date: Jul 2016
Location: New Hampshire
Posts: 379
Quote:
Originally Posted by omni550 View Post
For those of you experienced with the Sapphire Reserve card, will the travel insurance cover you on something like a car trip into Canada...a day trip, for example (where you wouldn't be buying an airline or train ticket and not staying at a hotel)?
No - it covers you only for travel you charge to the card. It is not general insurance.
__________________
Steve
jonat is offline   Reply With Quote
Old 09-11-2017, 11:48 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 5,651
Quote:
Originally Posted by omni550 View Post
For those of you experienced with the Sapphire Reserve card, will the travel insurance cover you on something like a car trip into Canada...a day trip, for example (where you wouldn't be buying an airline or train ticket and not staying at a hotel)?

---------

The reason I'm asking is, I travel a lot and often quite spontaneously ....sometimes flying to Europe for a month, other times taking a 2-week cruise somewhere, and other times, simply driving 30 miles from home over into Canada (going for either a day trip or popping over to Toronto for a long weekend).

As I'm now on Medicare, I'd like to have "continuous" (as compared to a specific-trip-related policy) travel insurance for my non-US travels, especially medical evac coverage.

Does anyone know how the Sapphire Reserve coverage works? Does it only apply if you've already prepaid for your travels using their card...or is it "continuous coverage"?

omni
We bought through insuremytrip.com for $200 coverage that is good for a year, for 2 people, unlimited number of trips as long as each is less than 70 days.
Besides evac coverage, it acts as secondary insurance (paying what your medical does not).
We've been on 3 trips this year outside US, so I feel it has been cheaper than trying to insure each trip.
__________________

Sunset is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Chase checking and online bill pay of Chase credit cards. audreyh1 FIRE and Money 59 02-07-2017 05:52 PM
Chase Sapphire Credit card Travel Insurance nwsteve Travel Information 9 06-30-2015 09:37 PM
Chase Sapphire Credit card Travel Insurance nwsteve Travel Information 8 01-15-2015 04:23 PM
Anybody else had Chase convert their credit card to Sapphire? LoneAspen FIRE and Money 21 01-13-2015 11:48 AM
Rant: Dumb Chase Sapphire TV ad caninelover Other topics 9 09-26-2009 09:54 AM

» Quick Links

 
All times are GMT -6. The time now is 05:24 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.