Travel credit card insurance reveals significant coverage gaps

A survey by Squaremouth of 4,700 travelers reveals significant gaps in the perceived and actual insurance protections offered by travel credit cards. While many cardholders believe they are well-covered, the study found widespread lack of awareness regarding specific limitations and exclusions.

Key findings include that 62% of respondents were unaware that pre-existing medical conditions might be excluded, often due to specific lookback periods. Additionally, 62% did not realize that trip cancellation coverage is restricted to specific reasons and subject to reimbursement caps, which can range from $2,000 to $10,000 per person.

Furthermore, 55% of travelers were unaware that eligibility for benefits often depends on how the trip was paid for, such as requiring the full fare to be charged to the specific card. Nearly half of those surveyed (48%) did not realize that most travel cards provide minimal to no emergency medical coverage while abroad, with some benefits capped as low as $2,500.