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Regardless of whether you are traveling for business or you’re off on vacation, you should always consider the unexpected. From something as minor as your bags being lost or stolen to being involved in an accident and getting injured, these unexpected events have the potential to ruin your travel plans.
Fortunately, this is where travel insurance can help. Travel insurance can offer coverage or reimbursement to cover the costs of an unforeseen event.Although it is possible to buy travel insurance, many travel credit cards offer various coverages as a perk of being a cardholder.
A great example of this is the Chase Sapphire Reserve. So, here we’ll explore the Chase Sapphire Reserve travel insurance in more detail.
Chase Sapphire Reserve Travel Insurance: What’s Covered?
Let's take a closer look at the Chase Sapphire Reserve travel insurance policy and explore what it covers, so you can make an informed decision on whether this card is right for your travel needs:
The travel insurance offered with the Chase Sapphire Reserve provides coverage for death or dismemberment. There is also coverage for a loss of sight, hearing or speech while you’re on a covered trip.
The Chase Sapphire Reserve travel insurance coverage is for losses which occur if you’re a passenger on a common carrier such as an airline, cruise ship, train or bus, with a limit of $1,000,000.
However, there are some events which are not eligible for coverage. These include:
- Emotional trauma
- Physical or mental illness
- Skydiving or flying on non registered aircraft
- Illegal acts that are committed by the covered person
Additionally, claims need to be filed within 20 days of the incident, with supporting documentation provided within 90 days.
As a cardholder, you can also access 24/7 emergency assistance, which you can use when you’re traveling. The service is available for the card member, spouse or domestic partner and any dependent children who are under the age of 22.
Referrals are provided at no cost, but you will be liable for any costs that are incurred if you use the recommended services. These include:
- Emergency messaging service
- Legal referrals
- Medical referrals
- Emergency transportation assistance
- Emergency translation services
- Prescription assistance
- Emergency ticket replacement
- Lost luggage locators
- Valuable document delivery arrangements
- Pre-trip assistance, such as information on local currency and exchange rates, health precautions etc.
If your trip is cut short or canceled due to a covered reason, such as severe weather, you can receive reimbursement for non refundable, prepaid travel expenses including passenger fares, hotels and tours. The coverage is available for up to $10,000 per person, with a limit of $20,000 per trip.
While the two benefits are grouped under one insurance, trip cancellation covers before your trip begins. So, if a covered loss prevents travel, you can claim reimbursement. Trip interruption kicks in once your trip has started including on your way to your departure point.
Valid reasons for this coverage include:
- Extreme weather which prevents starting or continuing your trip
- Hijacking or terrorist attacks
- Accidental bodily injury, illness or death of the cardholder, a travel companion or immediate family member.
- Quarantine orders from your physician
- Jury duty or court subpoena which cannot be postponed or waived.
- Bankruptcy of the cardholder’s tour operator, travel agent or travel provider.
On the other hand, there are some scenarios which are not covered. These include:
- Change in plans
- Change in financial circumstances
- Trips longer than 60 days
- Traveling against doctor’s orders
- Pre-existing medical conditions
If your carrier travel is delayed for over six hours or you are required to make an overnight stay, this coverage could kick in and provide you with reimbursement for the expenses related to your trip delay.
Eligible expenses include meals and accommodation, up to a policy limit of $500 per ticket. Trips are covered if you are away fewer than 365 days, but coverage is limited to one event per trip.
The covered events include:
- Extreme weather
- Equipment failure
- Skyjacking or hijacking
- Labor strikes
There are some exclusions for this coverage. For example if the covered reason was made public or known to the cardholder before your scheduled departure, you’ll not receive reimbursement. Additionally, claims must be filed within 60 days with supporting documentation provided within 100 days.
While it may seem like a minor issue, if you’ve ever had your baggage misdirected by your carrier, you’ll appreciate how frustrating delayed bags can be. Fortunately, this coverage provides reimbursement for the purchase of essential items needed if you’re separated from your bags.
If your baggage has been misdirected or delayed by more than six hours by your common carrier, you can receive reimbursement for up to $100 per day up to a maximum of five days.
There are some specific exclusions for this coverage including:
- Hearing aids
- Contact lenses
Additionally, claims need to be filed within 20 days of your delay, but you’ll have 90 days to provide supporting documents.
If your carry on or checked bags have been damaged or lost, this coverage will provide reimbursement for you or an immediate family member.
This type of Chase Sapphire Reserve travel insurance provides up to $3,000 per passenger in coverage. The coverage is available for the cardholder and immediate family members. Additionally, family members can enjoy coverage even if the cardholder is not traveling with them.
However, there are some stipulations, which include:
- Limit of up to $500 per person for watches, jewelry, video recorders, cameras and other electronics.
- You must immediately report the loss or damage to your common carrier and obtain a report, which will be needed to support your claim.
- Claims must be submitted within 20 days, but you’ll have 90 days to submit any supporting documents.
This coverage provides services such as medical supplies, medical attention and emergency transportation should you, your spouse or domestic partner and any dependent children under the age of 18 become injured or sick during a trip.
This is available on covered trips which must include travel on a common carrier, and it offers up to $100,000 in benefits.
The Chase Sapphire Reserve also provides auto rental coverage in the form of a collision damage waiver. If you charge the entire rental cost to your card and decline the collision and insurance offered by the rental car company, you’ll have up to $75,000 of coverage for collision damage and theft for rental cars in the U.S and many countries abroad.
The auto rental insurance is primary, so you don’t need to purchase supplemental cover. This coverage is available for rental periods of up to 31 days and the covered costs include:
- Towing charges to remove the vehicle to a repair shop
- Physical damage to or theft of the rental car
- Valid loss of use costs, which are incurred by the car rental company.
The cardholder must be listed as the primary renter with any additional authorized drivers added to the rental agreement. Some vehicles are not eligible for this coverage including:
- Antique vehicles
- Motorcycles, motorbikes or mopeds
- Recreational vehicles
- Vans built for more than nine passengers.
You must report the theft or accident immediately and submit a claim form within 100 days of the incident. If any additional supporting documents are required, they must be received within 365 days of the incident.
If you’re taking a road trip, your own vehicle or a leased vehicle can be covered with roadside assistance via your Chase Sapphire Reserve credit card. There is up to $50 of coverage per incident, such as fuel delivery, battery boost, lockout assistance, flat tire service or towing. However, there is a maximum number of four covered events per year.
Coverage is not available if you’re drying in areas not regularly traveled, such as off road areas. Additionally, cover is not available for commercial vehicles or heavy trucks/trailers.
What’s Not Included?
The overall Chase Sapphire Reserve travel insurance package is quite comprehensive and there are no major holes in the coverage. As with any insurance, you need to check the fine print to ensure that you are aware of the requirements and exclusions.
However, in most cases, you simply need to make your travel purchases using your Sapphire Reserve card and your coverage will kick in automatically.
Chase Sapphire Reserve vs Amex Platinum Travel Insurance: What’s the Difference?
If you're in search of a credit card that provides travel insurance benefits, the Platinum Card from American Express and Chase Sapphire Reserve are two cards that you might want to consider.
Both cards offer trip cancellation/interruption coverage, capped at $10,000 per person and $20,000 per claim. However, Chase Sapphire Reserve car rental coverage is primary, while Amex provides secondary coverage.
Amex also provides coverage for lost, damaged, or stolen bags, but does not offer baggage delay coverage, which the Reserve card does. Lastly, Amex has a global assist helpline but does not have a formal travel accident insurance policy like the Sapphire Reserve, which offers up to $1,000,000 in coverage for travel accidents.
Chase Sapphire Reserve vs Capital One Venture X Travel Insurance: What’s the Difference?
At first glance, the Chase Sapphire Reserve and Capital One Venture X travel insurances appear very similar, but there are some key differences. These include:
- Trip cancellation/interruption: While Chase has a coverage cap of $10,000 per person and $20,000 per trip, Capital One’s coverage is up to $2,000 per person.
- Cell Phone Protection: If you pay your cell bill with your Venture X card, there is automatic coverage of up to $800 for repair or replacement should your cell phone be damaged or stolen.
- Baggage Delay: Although both cards offer lost luggage insurance, baggage delay coverage is not offered with the Venture X.
- Roadside Assistance: This coverage is not available with Venture X.
Both are considered among our top cards for travel insurance.
Chase Preferred vs Reserve Travel Insurance
The Chase Sapphire Preferred and Sapphire Reserve credit cards are often compared due to their similarities, but their travel insurance benefits do have some differences worth noting. One of the main differences is in the trip delay reimbursement coverage.
The Sapphire Reserve coverage kicks in after a six-hour delay, while Preferred customers must experience a delay of 12 hours before they can claim reimbursement.
Another notable difference is the coverage limit for travel accident insurance. Sapphire Reserve cardholders can receive up to $1,000,000 in coverage, whereas Preferred cardholders have a $500,000 coverage limit.
Lastly, while both cards offer roadside assistance, Preferred customers are responsible for the related expenses, while Reserve customers are covered up to $50 per incident with a cap of four claims per year.
Chase Sapphire Reserve®
Chase Sapphire Reserve®
Does Chase Sapphire Reserve include trip cancellation?
Yes, there is trip cancellation coverage if you’ve purchased your travel using your Sapphire Reserve card. If your trip is canceled due to a covered reason, you can be reimbursed up to $10,000 per person and $20,000 per trip.
Does Chase Sapphire Reserve include travel health insurance?
There is travel accident insurance, which provides up to $1,000,000 of coverage for death or serious injury if you’re a passenger on a common carrier.
There is also emergency transportation and evacuation coverage which offers medical assistance if you become injured or sick when you’re traveling, with up to $100,000 in benefits.