While you can buy your own travel insurance plan, many of the top travel credit cards offer different forms of travel insurance for free. Take the Chase Sapphire Preferred® Card, for example. This card offers primary auto rental coverage, baggage delay insurance, trip delay reimbursement, lost luggage reimbursement, emergency assistance, travel accident insurance, and other benefits.
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The card's trip cancellation/interruption insurance is another popular perk. This insurance covers the cardholder and their immediate family members for up to $10,000 per covered trip and $20,000 per occurrence with a maximum benefit of $40,000 every 12 months.
You have to use your card to pay for the trip to be covered. But the insurance will kick in to reimburse you if your trip is cancelled or interrupted for any reason, such as severe weather, accidental bodily injury, or financial insolvency of your tour operator or airline.
While the rich could easily buy a travel insurance policy that provides these benefits, why not get it for free if you can? Not only can they earn rewards for using their card to pay for their trip, but they get tens of thousands of dollars in travel coverage without paying for it.