Few people know precisely the insurance and assistance guarantees of their bank card. However, it can save the day in many situations.
Few cardholders can accurately answer this question. Because in general, most are unaware that their bank card includes insurance guarantees (financial compensation or advance of expenses) and assistance services, or at least, they only know the main ones. And yet, there are a whole bunch of guarantees which vary depending on the type of card (Visa, Mastercard, American Express, etc.) and its range (Classic, Premium, Gold, Black, Platinum, etc.). They can be useful for anyone who one day finds themselves faced with an unexpected event. Whether it is a disaster, theft, a problem during a trip or a health problem for example. Also, depending on the contract signed, coverage may apply to members of the card holder’s family, i.e. the spouse or partner, and dependent children under 25 years old.
But in concrete terms, what are the guarantees linked to my bank card? In principle, your card insurance covers you during your travels, in the event of cancellation or delay of transport, loss or theft of luggage. Depending on the situation, there is no need to add travel cancellation insurance offered by the airline or train. Your card’s coverage also includes civil liability abroad for damage caused to a third party, death and disability coverage while traveling, car rental insurance, and snow and mountain coverage for mountain sports. ‘winter.
You can also sometimes use the purchase guarantee in the event of damage or theft of an item you have just purchased. In all cases, these insurance guarantees are linked to the use of the card. For example, if you pay for your rental vehicle with a card that does not belong to you and you suffer an accident, you will not be able to use the car rental insurance on your card.
As for assistance services, they generally cover medical repatriation, transport costs to hospital, medical and hospitalization costs abroad. In the event of legal proceedings in another country, you also have legal assistance (lawyer’s fees, advance of criminal bail, etc.). It is also important to know that the claims coverage limits are not the same from one card to another. If you want to know precisely the coverage of your payment method, look at the subscription contract for your card. Everything is detailed there, and don’t hesitate to ask for information from your bank advisor.