For example, trip-delay reimbursement for things like meals and lodging — up to $500 a person — kicks in after six hours with the Chase Sapphire Reserve card ($795 annual fee) but only after 12 hours with the Chase Sapphire Preferred ($95).
Compare your card coverage with the cost of the trip to determine how much insurance you may need.
“If you have $1,000 in travel insurance on a credit card and have $2,000 in nonrefundable expenses, get insurance to cover that other $1,000,” said Suzanne Morrow, the chief executive of InsureMyTrip.
Can you rely solely on credit card coverage? Yes, theoretically, though the benefits are often less than stand-alone policies. For example, the Chase Sapphire Reserve caps trip cancellation and interruption at $10,000 a person and $20,000 a trip while insurance policies may offer higher limits.
“For big-ticket trips like cruises, or a nonrefundable villa rental, that’s where I highly recommend getting insurance,” said Brian Kelly, the founder of The Points Guy website, which is devoted to credit card perks.
Credit card policies may also be stingier with medical benefits, which many travelers supplement. Between 30 and 35 percent of all purchases at Squaremouth are for travel medical insurance only.