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When you’re away from home, you need to know that should the unexpected happen, you’ll have some recourse. From something as simple as your bags being misdirected by your carrier to being injured in an accident, the unexpected can significantly derail your vacation or business trip plans.
This is where travel insurance can help. If you incur unexpected expenses due to a covered incident, you can receive reimbursement or get access to direct help to minimize the impact of any issues.
While it is possible to purchase travel insurance from your travel agent or insurance broker, there are many credit cards which offer travel insurance as a cardholder benefit. Capital One Venture X is one such credit card that offers travel insurance benefits to its cardholders.
So, here we’ll explore the Venture X travel insurance to help you understand what’s covered and what’s not.
Capital One Venture X Travel Insurance: What’s Covered?
Let's take a closer look at the Capital One Venture X 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:
Trip cancellation and interruption are usually bundled together as one coverage, but it is actually two types of protection. Trip cancellation covers you if you cannot travel for a covered reason before your trip, while trip interruption cover is available from when your trip begins, including when you’re on your way to your departure point.
The coverage kicks in for qualifying situations including:
- Death, disease, accidental bodily injury or physical illness or the cardholder, or immediate family member.
- Common carrier default due to financial insolvency.
There is up to $2,000 per person of coverage and the cardholder, spouse and dependent children are eligible. But, you must have paid for your trip using your Capital One Venture X credit card.
If your carrier travel has a delay of more than six hours or you’re forced to have an overnight stay, the trip delay coverage could provide reimbursement for necessary expenses. The eligible expenses include accommodation, and meals up to a $500 per ticket policy limit.
Covered events for trip delay include:
- Equipment failure
- Extreme weather conditions
- Hijacking or skyjacking
- Labor strikes
However, there are some exclusions for this policy, but this is quite standard for this type of insurance. For example, if the covered reason is known to the cardholder or made public before your scheduled departure, you will not be able to make a claim.
If your airline or common carrier has lost or damaged your luggage or it is stolen, this coverage kicks in. Providing that you paid for your fare using your Venture X credit card, you can receive up to $3,000 to repair or replace the bag and its contents.
This benefit is available to the cardholder and all immediate family members.
If you pay for your entire car rental using Venture X card and decline the collision damage waiver at the rental company, you can enjoy primary coverage for damage to and theft of a rental vehicle. This coverage is available in the U.S and in most countries around the world. The only exceptions are Ireland, Northern Ireland, Israel and Jamaica.
However, it is important to note that this is not liability insurance. It will not cover damage to another vehicle, damage to property or medical bills if you’re involved in an accident.
If you pay your cell phone bill with your Venture X credit card, you can receive reimbursement for up to $800 for replacement or repair should your phone be damaged or stolen.
The coverage applies to all lines listed on your account, but there is a $50 deductible for claims and the benefit can only be used up to two times during any 12 month period.
There are some conditions to this cover. These include:
- You must have paid the previous billing cycle payment with your card in the month before the incident.
- If the device is stolen, you must file a police report within 48 hours for a claim to be eligible.
- It is supplemental coverage, so if you have carrier or manufacturer insurance, the Venture X cover is invalid.
Chase Sapphire Reserve vs Capital One Venture X Travel Insurance: Which Is Best?
Upon initial observation, the travel insurance policies for the Chase Sapphire Reserve and Capital One Venture X may appear similar; however, there exist some notable discrepancies between them. These discrepancies consist of:
- Trip cancellation/interruption: While Chase has a limit of $10,000 per person and $20,000 per trip, Capital One's limit is $2,000 per person.
- Cell Phone Protection: In case of cell phone damage or theft, Venture X offers automatic coverage up to $800 if the cell bill is paid with the card.
- Baggage Delay: Although both cards have lost luggage insurance, Venture X does not offer coverage for delayed baggage.
- Roadside Assistance: Venture X does not include roadside assistance coverage.
What’s Not Included?
While the Venture X does offer some great coverage, there are some obvious gaps in the travel insurance package. These include:
- Accident or Death Benefit: There is no coverage should you be involved in an accident or suffer a fatal incident while traveling.
- Baggage Delay: If your bags are misdirected or otherwise delayed, you’ll not have any reimbursement for any essentials that you need to purchase.
How Do I Claim on My Capital One Venture X Travel Insurance?
If you need to make a claim through your Capital One Venture X travel insurance, you’ll need to call the appropriate helpline, similar to other Capital One cards. You’ll find all of the helpline numbers in the paperwork supplied with your new card. However, if you have misplaced this information, you can call the general Capital One helpline to ask for the appropriate claims telephone number.
Once you call the claims line, the representative can guide you through the claims procedure and the claims form. They will also be able to explain what supporting documentation is required. Bear in mind that it is a good idea to keep hold of any receipts, reports or other paperwork until your claim has been approved and finalized.
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Most Capital One credit cards offer some form of travel insurance, even if it is only rental car coverage. However, cards like the Venture X provide a decent selection of travel insurance coverages.
Yes, you can be reimbursed for up to $2,000 per person for covered incidents if your trip is canceled or interrupted.
There is no specific travel health insurance offered with the Capital One Venture X.