Chase Sapphire Preferred Travel Insurance (2024 Guide) (2024)

Our Thoughts on Chase Sapphire Preferred Travel Insurance

Chase offers travel insurance through the Sapphire Preferred credit card if you use the card to purchase trip expenses such as cruise bookings, airline tickets, hotel accommodations and more. The company’s travel insurance offering includes coverage for trip cancellations, interruptions and delays, accidents and more.

But while Chase has competitive luggage loss limits when compared with the top travel insurance providers, the Sapphire Preferred Preferred card doesn’t offer emergency medical and evacuation coverage like some other travel cards. And although Chase provides free travel insurance benefits with the Sapphire Preferred card, there is a $95 annual fee.

If you’re a Chase Sapphire Preferred credit card holder, we encourage you to compare its coverage with plans offered by competitors. This can help ensure you have travel protection that fits your vacation and your unique needs as a traveler.

How To Qualify to Use Chase Sapphire Preferred Travel Insurance

Qualifying for Chase Sapphire Travel Insurance is a relatively simple process based on our experience. If you do not have a credit card already, you will need to visit Chase’s website to fill out an application. You’ll need to provide personal information such as your name, date of birth, mother’s maiden name, home address, contact information, Social Security number, individual tax ID number, employment status and annual income. Chase states that if you have a high credit score, you can likely apply for any card of your choice — so prepare for the company to consider your credit score when applying for this card.

Available travel insurance when you book using your Chase Sapphire Preferred card includes protection for rental car damage, cruise line reservations and airfare, to name a few. Benefits also apply to the cardholder and their immediate family during their travels. Note that if you have a Chase Sapphire Reserve card, you can also qualify for travel protection benefits. However, the benefits differ between the two cards, which we will address further in this article.

How Does Chase Sapphire Preferred Travel Insurance Work?

Chase Sapphire Preferred travel insurance coverage offers several protections at no extra cost to cardholders who book trips using their credit card. Benefits include trip cancellation and interruption insurance, baggage delay insurance and trip delay reimbursem*nt. Chase Sapphire Preferred cardholders also receive travel and emergency assistance services if they need legal and medical referrals.

Chase notes that unaffiliated insurance companies underwrite the travel benefits, and these companies are solely responsible for the administration and claims of cardholders. Those so-called benefit administrators may enforce specific time limits and documentation requirements that apply to the claims process. Chase should provide cardholders with this information when they first open their account.

Coverage Benefits of Chase Sapphire Preferred Travel Insurance

Chase provides extensive travel insurance benefits through its Sapphire Preferred credit card, including protections you’d find with a traditional travel insurance policy. See the table below for a detailed breakdown of the Chase Sapphire Preferred travel insurance benefits and associated coverage limits.

*Information about benefits provided by the Chase Sapphire Preferred credit card was collected by the MarketWatch Guides team and has not been provided or reviewed by the card issuer.

Trip Cancellation

If you must cancel your trip for a reason covered under your policy, trip cancellation insurance can reimburse prepaid, non-refundable travel expenses. This often covers expenses such as lost airline tickets, cruise bookings, prepaid tours and hotel reservations.

Chase Sapphire Preferred travel insurance covers trip cancellations due to traveler sickness, severe weather and other situations, with reimbursem*nt up to $10,000 per person and $20,000 per trip for prepaid, non-refundable expenses.

Trip Interruption

If you must cut your vacation short and return home, trip interruption insurance can provide a refund for unused, prepaid and non-refundable travel expenses.Much like trip cancellation insurance, coverage also applies to situations such as the injury, illness, or death of a family member or traveler.

Chase covers Chase Sapphire Preferred travelers up to $10,000 per person and $20,000 per trip for prepaid, non-refundable expenses.

Trip Delay Insurance

Trip delay coverage applies to travel delays caused by planes, buses, trains and other types of transport to your destination. Benefits for a covered trip will vary depending on the travel insurance plan but can extend to hotel rooms, meals and other necessities incurred if you must wait to resume your trip. Delay coverage does not extend to missing a flight due to poor planning or time management on behalf of the traveler.

Chase will reimburse up to $500 per common carrier travel ticket purchased using your Chase Sapphire Preferred card if you experience a delay of more than 12 hours or require an overnight stay.

Baggage Delay or Loss

Baggage coverage can pay for your travel bags if they become lost, stolen, delayed or damaged during your trip. Coverage is usually capped at a certain amount per bag, with some travel insurance plans offering higher limits than others. If you intend on bringing expensive or valuable items in your baggage, you might consider a policy with a high maximum coverage amount for lost luggage reimbursem*nt or delays.

Chase provides Sapphire Preferred cardholders $100 per day for up to five days if they experience baggage delays with a common carrier such as an airline. If your carry-on or checked bags get lost, stolen or damaged, you could receive a reimbursem*nt of up to $3,000 per person to cover your personal effects.

Auto Rental Collision Damage Waiver

Car rental collision damage coverage is not a standard offering from travel insurance companies. This waiver provides Chase Sapphire Preferred cardholders with reimbursem*nt up to the actual cash value of a rental car, minus certain high-value and exotic car models.

To qualify for this waiver, you will need to decline the rental car insurance provided by the rental company and charge the entire cost of your rental to your Sapphire Preferred card. This waiver covers both theft and collision damage.

Travel Accident Insurance

Travel accident insurance through Chase provides accidental death and dismemberment (AD&D) coverage when you pay for your air, bus, train or cruise transportation using your card. Coverage includes up to $500,000 in accident protection.

Emergency Travel Medical Coverage

Travel medical coverage helps cover medical bills if you fall ill or get injured during your vacation. It does not cover routine medical services — only sudden illnesses or injuries considered emergencies or that require treatment by a healthcare provider. Some emergency medical benefits also include emergency dental coverage.

While many travel insurance providers offer this type of coverage, Chase Sapphire Preferred cardholders do not have access to these protections with the card’s benefits. You can, however, find this coverage with the Sapphire Reserve card.

Emergency Evacuation and Transportation

Emergency evacuation and transportation insurance can provide peace of mind if you need transportation to a hospital or medical facility while traveling. For example, if you fall ill or become injured in a remote location and require transportation or evacuation to a medical facility equipped to care for your needs. Chase doesn’t provide this coverage for Sapphire Preferred cardholders and their immediate family members.

Chase Sapphire Preferred vs. Chase Sapphire Reserve Travel Insurance

The Chase Sapphire Preferred card is not the only credit card Chase offers with travel insurance benefits. Chase’s Sapphire Reserve card also provides benefits for cardholders who book their trips with their credit card. See the table below for a comprehensive breakdown of what each Chase credit card offers in travel insurance benefits.

*Information about benefits provided by the Chase Sapphire Preferred and the Chase Sapphire Reserve credit cards were collected by the MarketWatch Guides team and have not been provided or reviewed by the card issuer.

Should You Get a Chase Sapphire Preferred Card For Travel Insurance?

Signing up for a Chase Sapphire Preferred card strictly for its travel insurance benefits is a personal decision. However, getting a credit card for travel insurance is not your only option — you may also opt for a policy with a standard carrier such as Travelex. Chase’s coverage limits are not as high as limits from some other providers offering comprehensive travel insurance policies. Taking on an additional expense in the form of the Sapphire Preferred card’s $95 annual fee may also not be worth it if you don’t plan on using the card for anything other than infrequent travel.

If you’re looking for coverage for emergency medical expenses, evacuations and more, you may consider a plan from some of the other dedicated travel insurance companies. Chase does not specialize in travel insurance and lacks unique protections such as cancel for any reason (CFAR) and extreme sports coverage that other travel insurance companies may provide.

If you already have the Chase Sapphire Preferred card and feel satisfied with its travel insurance coverage limits, you can take advantage of these benefits by booking your trip using the card. Regardless, we recommend considering your travel needs and budget before choosing travel insurance coverage.

Methodology: Our System for Rating Travel Insurance Companies

Our team researched and reviewed dozens of travel insurance providers and created a scoring system to judge each company based on coverage, quality and service. We also collected sample quotes from each company, both over the phone and on the Internet, to better understand the customer experience. Here are the factors we take into consideration when rating providers:

• Cost (10%): To determine a baseline average travel insurance cost, we gathered quotes from each travel insurance company based on different traveler profiles. Travel insurance companies at or below our calculated average cost of $221 earn full points in this category. Specifically, we obtained quotes for the following trips:
  • A 30-year-old couple taking a $5,000 vacation to Mexico
  • A family of four taking an $8,000 vacation to Mexico
  • A 65-year-old couple taking a $7,000 vacation to the United Kingdom
  • A 30-year-old couple taking a $7,000 trip to the United Kingdom
  • A 19-year-old taking a $2,000 trip to France
  • A 27-year-old couple taking a $1,200 trip to Greece
  • A 51-year-old couple taking a $2,000 trip to Spain
• Plan availability (10%): We look for insurers offering a variety of travel insurance plans and the ability to customize a policy with coverage upgrades. Providers that offer six or more plans will earn top marks in this category.

• Coverage details (29%): We review the standard coverage each company offers in its cheapest comprehensive plan. A provider with robust coverage will earn full points, with a focus on baggage delay and loss, COVID-19 coverage, emergency evacuation and medical coverage, trip delay and cancellation coverage, and more. Companies also receive points for offering a variety of policy add-ons such as accidental death and dismemberment, extreme sports, valuable items, cancel for any reason coverage and more.
• Coverage times and amounts (34%): We compare each company’s waiting periods and maximum reimbursem*nt amounts for baggage, travel and weather delays. Companies that will reimburse customers after fewer than 12 hours of delays earn full points in this category. We also reward travel insurance providers that cover more than 100% of trip costs in the event of cancellations or interruptions.
• Company service and reviews (17%): We look for indicators that a company is well-prepared to respond to customer needs. Companies with an established global resource network, 24/7 emergency hotline, mobile app, multiple ways to file a claim and concierge services score higher in this category. We assess reputation by evaluating consumer reviews, third-party financial strength and customer experience ratings, specifically from AM Best and the Better Business Bureau (BBB).

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