Gold Credit Card Travel Insurence

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Forums › Finance and wealth management › Gold Credit Card Travel Insurence

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bazzer

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#270655 6-Nov-2009 15:01

bobmeister: Gold card insurance is probably okay. After all only 10% of people claim, so you're okay if you are in the 90% who don't.

But then, you'd also be OK if you didn't have insurance at all!

Maybe you can give an example of "comprehensive" insurance and the exclusions for the OP, so he can compare his free insurance and decide if it's worth the upgrade. I wouldn't mind knowing myself. Perhaps I've let the bank lull me into a false sense of security!

bazzer

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#270660 6-Nov-2009 15:06

Sounddude: I would hate to be stuck in some asian country having an arugement over the phone about what I paid for on my credit card and what i didn't.

Happy to pay 50% of the Airfare and meet their terms. I just want them to acknoldge that I have met their terms before I hop on that plane.

They wouldn't give me that in writing that i had or hadn't met their requirements, and I didn't want to find out the hard way that i hadn't.

But then you'd just be stuck in some asian country having an argument over the phone about whether or not you have that acknowledgement in writing or not!

Bung

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#270679 6-Nov-2009 15:53

bobmeister: Also be aware that you need to pay for at least 50% of your trip cost on your credit card for you to get cover.

50% or a $ amount? BNZ have a minimum amount that wouldn't be 50% of many trips.

I've had problems joining tours overseas that require you to be insured because there wasn't a policy document specific to me. Last time I just mentioned the name of the underwriting company without mentioning bank.

corksta

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#270682 6-Nov-2009 16:02

This is the only insurance we use when we travel.

Last year in Las Vegas I had to go to the doctor for a bladder infection. When I came home I rang the 0800 number, they sent out a claim form, I sent it back with my receipts attached, then about a week later I was paid out minus the $150 excess (cost over NZ$350 for all the bills), so it was a great service.

This was through Westpac's service, which is underwritten by Lumley I think.

bobmeister

106 posts

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#270684 6-Nov-2009 16:08

Looking at the information I have, it is 50% of the trip. There does not appear to be a $ limit, but I am not an expert.

One thing to look out for is war and civil unrest cover. I do know that when the troubles in Bangkok happened last year (they stormed the airport and closed it), many people insured trough the Gold cards had to buy new tickets home, as the policies excluded terrorism, civil unrest, etc..

bobmeister

106 posts

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#270686 6-Nov-2009 16:12

bobmeister

106 posts

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#270687 6-Nov-2009 16:13

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bazzer

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#270689 6-Nov-2009 16:19

That was right around the time I travelled to Thailand on my honeymoon. I think you'll find all policies have similar exclusions for this kind of thing?

P.S. BNZ has a $500 threshold ($250 for Oz/PI)

bobmeister

106 posts

Master Geek

#270693 6-Nov-2009 16:47

The full leisure and business policies DO cover this type of disruption.

The example above was two families travelling to Thailand last year. It cost one $8,000 and the other got paid out 3 days after their return to NZ.

bazzer

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#270699 6-Nov-2009 17:09

Like which ones? I don't think many people would expect the cover to be as comprehensive as business policies. Apples and oranges, mate. But which are the "full leisure" policies you talk of? Would the OP be interested in a direct comparison for the purpose of this discussion?

mckenndk

911 posts

Ultimate Geek

#270724 6-Nov-2009 19:58

After doing some compairsions with the different travel insurence with Credit Cards, I have concluded my westpac gold card will do ok for me.
Out of the cards I compaired each had their benefits and draw backs.

All cards dont include pre existing conditions, some will cover these if you call up and pay a sum of money, other best option would be to use southern cross which have alot of pre existing conditions covers.

Kiwibank Gold Card, Pros $100 (others were all $200) excess, covers 40 days travel, Con's Does not cover skiing and medical excess is limited in certain countries. No cover if you forget your camera etc on a bus and someone picks it up and you don't get it back.

ASB Gold Card has 90 days cover, the rewards scheme does not suit me though,

Westpac Gold Card hot points scheme does not suit me at all either due to not being able to convert to air points anymore

So I have decided that the BNZ airpoints card is the best for me and covers most of what I need,

Thats my conclusion anyway

kingjj

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#272958 14-Nov-2009 09:49

You wouldn't want my partner to get wind of this conversation, she'll not quit until you've all promised to get travel insurance through a travel agent! She'll argue tooth and nail that the travel insurance they sell at work (a well known international travel chain) is far superior to any coverage provided by a CC and after years of argument I'm now inclined to agree. Generally with travel agent insurance you'll have a low if not zero excess, higher coverage values (such as "unlimited" medical, travel, flight delay etc) and coverage for dangerous activities (such as snow boarding, rock climbing, jet boating etc) that would not normally be covered by CC's. As previously mentioned, CC's usually are more restrictive in their requirements including requirements that you take out rental car insurance etc separately.

Now to wipe this page from the History.....

timestyles

424 posts

Ultimate Geek

#273012 14-Nov-2009 13:31

You get what you pay for...

foamfollower

152 posts

Master Geek

#273027 14-Nov-2009 15:00

We have had the BNZ Gold Card travel insurance for some time, and had to claim once. Found it better and simpler than going through a similar experience with an insurance company. Just watch the 90 day limit (per trip) with BNZ.

Bung

6477 posts

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#273028 14-Nov-2009 15:26

foamfollower: We have had the BNZ Gold Card travel insurance for some time, and had to claim once. Found it better and simpler than going through a similar experience with an insurance company. Just watch the 90 day limit (per trip) with BNZ.

You need to travel more, the BNZ have cut it back to 35 days a while back:)

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