Tuesday, January 29, 2013

Insurance with your credit card (Visa, Mastercard, American Express)

Insurance with your credit card (Visa, Mastercard, American Express) are more like support contracts that will assist you in case of incidents, for a short time without giving you health insurance coverage very important and under no circumstances should you stay more than 3 consecutive months in the United States.If you want to be well covered, we advise you to use in conjunction with a specific policy. Without going into too much detail, we will give you an outline of the services offered.
The main benefits via your credit card
Attention: This analysis is not exhaustive and has no legal value. In addition, certain safeguards have been updated by banking organizations but not yet included in our presentation. We advise you to contact your bank for details about your warranties.
The outline of coverage for:
Insurance with your credit card
Insurance with your credit card
Insured persons
It is usually the cardholder, spouse or partner, dependent child tax under the age of 25 and ascendants and descendants. A note on the Visa spouse and dependent children are covered even if they do not accompany the cardholder. While for the Mastercard "standart" including the family of the owner must accompany to benefit from the service.

Extended territorial coverage
For Visa "standard" and "first", you will be covered in the world, with no deductible mileage for your professional or private stopovers in your country of residence (if you are a French resident in metropolitan France including Corsica, Monaco, Andorra, DOM TOM and COM) or outside your country of residence, for warranty assistance. Regarding the guarantee insurance, it applies to more than 100 km from your home or place of work. For Mastercard and American Express, assistance does not require excess mileage, except for the "Gold" Amex with which you will be covered only 50 km from your home to support your vehicle, the medical and repatriation costs, and 100 km from your home in the world to guarantee the rental vehicle.

Length of Coverage
Guarantees credit cards take effect on the date of purchase (under certain conditions) these cards throughout the duration of them until termination or automatic renewal of the holder in the country of residence. When traveling abroad, assistance coverage apply the first 90 days of stay. This condition can vary from one card to another depending on the type of coverage (insurance or assistance) if the stay is longer for specific reasons (death, disability due to an accident during the stay) for "Visa Premier "guarantees insurance apply the first 180 days of stay. Warning: If your stay exceeds three months your credit card "standard" will not cover you.

Application conditions
As mentioned earlier, the guarantees offered by credit cards apply in general from the possession thereof but subject to certain conditions. There are two types of guarantees, assistance and insurance. The first applies when the purchase of the credit card in case of illness or injury, death, lawsuits abroad and help the onward journey. The second applies when you set your travel services and other purchases related to it with your credit card in case of incidents of travel (delays aircraft, train, luggage) and accidents travel (death, disability). This can vary from one card to another.

Costs of Health supported
Ceilings offered by credit cards are dwarfed by the medical expenses that may be incurred in certain foreign countries like the USA, which is why it is strongly advised to take out additional insurance. Your medical expenses will be reimbursed up to a ceiling of € 11,000 for Visa and Mastercard plus an excess of € 50 to € 75 for one and the other. Visa First has a higher ceiling (€ 155,000) with a deductible of € 50. Amex cards have a maximum reimbursement of € 9,200. For example, with a deductible of € 50 if consulting a doctor costs 60 €, you will be reimbursed between 0 and 10 € with your credit card.

Assistance benefits
Generally, the guarantees offered by different credit cards cover almost the same benefits:

• Support transportation costs and hotel for a family member in case of hospitalization of the insured more than 10 days ("Visa Premier" 125 € / day for 10 days up to 375 € beyond "Platinum Mastercard" 250 € / day for 10 days up to € 750 above). TO KNOW: with supplementary health insurance, there are no limits.

• Repatriation and support to the home or place of hospitalization of children under 15 years.

• The early return in case of hospitalization for more than 24 hours or death of a loved one (support ticket forward / reverse).

• Sending drugs.

• Repatriation of body in case of death during the stay.

• Legal assistance abroad.

Travel cancellation insurance
Travel cancellation insurance is generally not available with the cards 'standards'. Visa Premier offers this guarantee capped at € 5,000 with a reimbursement of € 200 per insured person if the cancellation is made 30 days before departure. Cancellation fees are paid by the Amex Gold and Platinum up to € 4,500 to € 10,000 per insured per year. The "Platinum Mastercard" reimburse up to a maximum of € 10,000.

Warranty delayed flights or luggage
Cards "standard" does not generally provide for compensation to cover basic necessities when your flight or luggage is delayed. The Visa Premier offers 250 € from 4 hours behind travel. Amex cards compensate you 150 € ("personal card") and € 800 (Platinum) for baggage delay, and between 100 € and 200 € for the delay of the aircraft. Insurance for delay Mastercards covers the costs between € 250 (Gold) and € 500 (Platinum).

Theft or damage to baggage
Standard cards do not compensate. Visa First will cover you up to 800 € per bag with a deductible of € 70. Card "Platinum" Amex, guaranteed personal belongings in case of theft, loss or damage up to € 2,000 per trip. For the map "Platinum" Mastercard, the ceiling is € 3,200 per year.

You are not covered with standard cards. Visa Mastercard Platinum and Premier cover you up to € 1,525,000 per occurrence for all damages and injury caused to third parties. Platinum Amex card covers you up to € 2,000,000 for damage and injury caused to others during a trip.

Remember that if there is an accident, € 1.5 million in some countries like the United States depart quickly from medical expenses, legal fees ... etc..

The death or disability
The application of this guarantee is generally subject to the use of your card to purchase your ticket. The accident that caused the death or disability must have occurred during the trip to be a trip "guaranteed" by the insurer (make sure the application conditions for each card). It can be a journey by public transport or car rentals. The Mastercard to pay € 95,000 (public transport) and € 46,000 (rental car). Visa Premier and Gold Mastercard pay in case of death or disability to € 310,000 per family and per event .. Cards Amex Gold and Platinum Mastercard cover respectively to € 300,000 and € 620,000 per family and per event.

Specific guarantees
To benefit from these guarantees, you must subscribe in general to supplementary insurance.