Credit cards include many handy travel features that we have previously introduced, including: travel insurance as well as withdrawal insurance and emergency cash. Today, we will introduce in more detail the cancellation cover typically included in your credit card travel insurance. What kind of compensation is available for cancellation security? What are the situations in which cancellation insurance can be claimed?
Terms and conditions of the cards
The comparison shows that there is little difference in the terms and conditions of the cards when it comes to canceling a trip. Almost all card cancellation protection is only valid in the event of a compelling medical reason or major property damage. American Express cards have more reasons to cancel your trip than other cards. The most flexible cancellation policy is OP Visa Gold, its terms and conditions allow you to cancel your trip for any reason. However, OP Visa Gold cancellation security only covers 75% of the travel costs.
The biggest differences between the cards are the maximum cancellation coverage and who the insurance covers in addition to the cardholder.
Please note about cancellation protection
In addition to the terms listed in the table, there are some general terms that apply to all card cancellation protection. Of course, the insurance does not cover the cost of the cancellation if the event leading to the cancellation occurred before the start of the policy or if the reason for cancellation occurred before the trip was booked and paid.
Portion of the trip price
Also, card cancellation cover does not cover the portion of the trip price refunded by the tour operator to the insured, but only the excess. Most cards only cover travel and accommodation costs, but the Norwegian Card and Good Visa Gold also cover the rent of a prepaid vehicle.
Typically, insurance coverage requires that the trip is fully or partially paid for on the credit side of the card providing the insurance. However, travel insurance for Aktia World Elite and Platinum Visa is valid for all trips.