We’re heading into the busy summer travel season and among the questions you may want to ask is whether you need the travel insurance offered by your credit card.
We are stretching your dollar with the pros & cons to consider.
According to Money Matters Report, credit card insurance usually covers three things: lost baggage, delayed baggage, or a canceled trip. Sometimes, getting the insurance for these can be tricky.
Take delayed baggage insurance since it may reimburse you for the amount of money you spend on personal and business items while you wait for your baggage to arrive.
However, it won’t kick in immediately and you may have to wait until your bags are delayed by at least three hours before your credit card company will reimburse you.
Trip cancellation coverage can be tricky as well. Some cards will cover the cost of a canceled trip due to certain health issues, but if you’re pregnant leading up to the trip and you cancel because you go into labor, you might not be reimbursed.
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