Chase Sapphire Reserve Travel Insurance – A Complete Guide

Being in an accident, having travel delayed, or having luggage lost or stolen are the last things anyone wants to consider when going on vacation. Nevertheless, mishaps occur, so you save many worries by planning. If you hold the Chase Sapphire Reserve card, you already have free travel insurance.

Travel insurance is becoming increasingly crucial for your peace of mind and making you whole following an unforeseen catastrophe. Although the travel insurance with your credit card is intended to supplement a complete travel insurance policy, it can offer enough protection for most of your journeys.

Chase Sapphire Reserve travel insurance is free. It covers you and your family members in the same reservation from when you make your trip until your return. To be eligible, you must pay for at least part of your trip with your Sapphire Reserve card or Chase Rewards points.

These benefits are part of why Sapphire Reserve is consistently on the list of TPG as the best travel insurance and credit cards. Here’s a complete guide with all the insights, benefits, and all that are less known.

It All Starts With A Background

JPMorgan Chase is the largest bank in the United States and offers a complete list of services and product options. It offers mortgages, auto loans, travel insurance such as Chase Sapphire Reserve Travel insurance, and one of the broadest selections of credit cards such as chase sapphire reserve and chase sapphire preferred in the industry. And the website experience can rival online-only banks that focus solely on checking and saving. Chase has an excellent basic checking account, and its sign-up bonuses have earned it a spot in the Best-Of Awards. Its savings rates are usually low, and some fees are high and inflexible to avoid.

Chase Bank is a full-service bank with nearly 4,900 branches and 16,000 ATMs. Its origins date back to 1799 in New York City, when it was founded to provide clean water to the city’s people. A small provision in his charter allowed excess capital banking, and within five months, he opened a bank under the name Bank of Manhattan Company.

More than 200 years of its history, more than 1,200 institutions have come together to form the largest financial institution in the United States, with $ 2.6 trillion in assets worldwide. This in-depth review from the online banking giant can help you decide if your deposit accounts are correct for you.

Chase Bank is also a global banking livewire that claims to serve nearly half the population of the US. Chase Bank is a JPMorgan Chase & Co. division with over 2.6 trillion assets. Chase has branches in cities across the United States, and you can work with Chase entirely online from anywhere in the world if you have internet connectivity.

What Chase Bank Offers?

Chase Bank can be attractive to those who prefer to manage the resources of a megabank. The products and services available can be tempting to anyone who wants to.

• Use a free checking account, assuming you qualify for an exemption, with online bill pay, debit card, and paper checks.
• Minimize banking relationships and passwords by opening credit cards and checking accounts at the same institution.
• You can bank in person or use ATMs whenever you want
• Get rewarded with a credit card.

Considering the size of the bank, it is not surprising that Chase Bank offers a wide range of products and services for individuals and businesses, such as saving accounts, checking accounts, deposit certificates, and credit cards like Chase Sapphire Reserve travel credit.

The Chase Savings account pays a small amount of interest, but the APY could be more impressive. As of February 24, 2020, the fund yields 0.01% APY, while the best high-yield savings accounts elsewhere pay more than two percent. This account has a monthly fee of five dollars but may be eligible for a fee waiver if you meet any of the following criteria:

• Keep your balance above $300 at the beginning of each day.
• Save at least $25 monthly on a personal Chase checking account or Chase Liquid card.
• Link a Chase college checking account and use the savings account to protect against overdrafts.
• Link this account to specific Chase Premier checking accounts.

Chase savings accounts allow six withdrawals per month. Irrespective of the type of withdrawal you make, including ATM withdrawals, every transaction counts toward your limit. Once you’ve used up your six leaves, you pay five dollars for each subsequent withdrawal for the month.

The Advantages of Going for the Chase

Large Footprint to meet your banking needs Chase Bank has nearly 4,900 retail branches in the United States. Additionally, customers can access 16,000 Chase bank ATMs at no additional cost. If there is no chase bank branch or ATM nearby, customers can access their accounts online or through their mobile app.

Ability to waive verification fees

Customers can waive monthly account fees by activating direct deposit, carrying a minimum balance, or linking eligible accounts, depending on their account type.

Famous credit cards with well-known brands

Chase offers twenty-seven credit cards, including chase sapphire reserve travel credit and chase sapphire reserve travel preferred, twenty-two Personal and five for small businesses. There are various credit card options, depending on your goal for cash back, travel rewards, or balance transfer.

Chase sapphire reserve travel insurance review

Only some credit cards can compete with the Chase Sapphire Reserve card when looking for a premium Travel Rewards credit card. There are also a few travel rewards cards that offer a better selection of travel insurance benefits. The benefits of travel insurance and the protections provided with your credit card can help you if your trip is interrupted, reimburse you for expenses if something goes wrong, and much more.

It is becoming increasingly important to have travel insurance for peace of mind and to put you at ease after an unforeseen event. While travel insurance with your credit card is not a substitute for a comprehensive travel insurance policy, it can provide sufficient coverage for most of your trips.

The last thing you want to consider when you go on vacation is having an accident, delaying your trip, or having a lost or stolen suitcase. However, accidents do happen, and it is essential to know the level of protection your travel credit card offers and propose travel benefits for employees. Since you must decide whether or not to buy travel insurance before going on a major trip, it makes sense to familiarize yourself with the complimentary benefits of your travel credit card so that you don’t overpay for the insurance.

Chase sapphire reserve travel credit is easily one of the best travel credit cards. It offers many more rewards than current favorites like the Chase Sapphire Preferred or Capital One Venture Rewards credit card. The only downside is the $550 annual card fee.

Chase Sapphire Reserve Travel Credit is broadly approached as one of the best travel credit cards available to Americans. With it, you will get a sign-up bonus of fifty thousand points after spending four grants ($4000) on purchases in the first three months. But the gains continue beyond there. You will also earn ten points with Lyft, three points on travel and meals, and a point on everything else. The benefits are just as attractive: three hundred dollars annual travel credit, priority pass select lounge membership, no overseas transaction fees, application fee credit of up to a hundred dollars for Global Entry/TSA PreCheck, and more.

And while these features have been widely released since the card’s launch in August 2016, others don’t pay much attention. Chase Sapphire Reserve offers emergency evacuation coverage of up to $100,000, although even that may not be enough in some situations. That being said, Reserve outperforms Platinum in all other categories.

Travel Benefits of Chase Sapphire Reserve Travel Insurance

1. Trip cancellation/interruption insurance
2. Travel accident insurance
3. Reimbursement of travel delay
4. Auto Rental Collision Damage Waiver
5. Road assistance
6. Travel and emergency assistance
7. Emergency evacuation and transport
8. Emergency medical and dental coverage
9. Baggage delay insurance
10. Reimbursement of lost baggage

Trip cancellation/interruption insurance

Trip cancellation insurance covers you before your trip begins. If a covered loss prevents you from traveling during your trip, Chase will reimburse you or your immediate family up to a maximum of ten grands/$10,000. If You booked the trip with Chase Ultimate Rewards® points, the refund will be in the form of points. Trip interruption insurance begins when your journey begins, including on the way to or after departure. If a loss causes your trip to be interrupted, this benefit provides up to ten thousand dollars in reimbursement for cardholders and immediate family members. Reimbursable expenses include exchange fees and prepaid and non-refundable airline, hotel, and cruise tickets.

Legal reasons include

• Accidental bodily injury, death, or illness of the cardholder, a traveling companion, or an immediate family member.
• Risky weather conditions prevent the start or continuation of a trip.
• Terrorist attack or kidnapping.
• Summons to appear for jury service that cannot be canceled or postponed.
• Quarantine orders from a doctor.
• The bankruptcy of the cardholder’s travel agency, tour operator, or tour operator.

Chase has identified several events that are not covered, such as cancellations/interruptions due to changes in plans or financial circumstances, pre-existing medical conditions, war, travel against doctor’s orders, or travel over 60 years. The primary cardholder and immediate family members who are not traveling with the cardholder are also protected. Chase provides coverage to family members, even if they are not traveling with the primary cardholder.

The max amount reimbursed for this benefit is ten grands per covered trip, twenty grands per event, and forty-thousand dollars per 12-month/yearly period. Complaints must be filed within 20 days of the event. If a medical issue causes the trip to be canceled, the cardholder must notify the trip provider within 48 hours. One should keep in mind these rules.

Travel accident insurance

This benefit pays up to $1 million in the event of death or serious injury during transportation. There is also coverage of up to $100,000 for the duration of your trip, not just during transit.  Following are the two cases;

• Insurance for travel accidents on common carriers: It is available to protect you against losses that may occur while you’re a passenger (such as airplanes, buses, trains, and cruise ships ). The death benefits are worth $1000,000,00.
• 24-hour travel accident insurance: This protects you from the time of your flight until the time of your return. $100,000 is the benefit amount for a loss of life. 

Chase Sapphire Reserve, travel accident insurance, provides up to $1 million in coverage for accidental death or dismemberment and loss of speech, vision, or hearing. This service includes two types of insurance:

• Public transport travel accident insurance applies when an accident occurs while entering, leaving, or driving as a passenger on public transport (plane, train, cruise ship, or bus). The maximum payment is $1,000,000.
• 24-Hour Travel Accident Insurance
• Applies to any loss incurred from the date of departure to the date of return. The maximum payment is $100,000.
• Remember, It cannot reimburse you under both policies, and any payment received will be for the more considerable eligible benefit. Chase includes a list of events that are not eligible for coverage, such as Unlawful acts committed by the insured, emotional trauma, mental or physical illness, war, skydiving, and flying in unregistered aircraft.
• It must also submit claims within twenty days of the event and provide supporting documents within ninety days.

Reimbursement of travel delay

Your vacation will be covered if you are away from home for less than 365 days. Only per trip, one event may be substituted. The event that is covered includes 

• Equipment failure,
• Unusual weather,
• Labor unrest,
• Hijacking a plane or the sky.

What does Chase travel delay insurance cover?

It covers you up to five hundred per ticket. Necessary expenses are reimbursed if the trip is delayed for more than six hours. Chase travel delay insurance reimburses the fees you pay if your trip is delayed, including meals, lodging, toiletries, and medications. You can use this blanket if:

• Your trip is delayed over 12 hours or requires an overnight stay with two exceptions.
• The trip is far from your hometown and takes less than 365 days.
• You purchased your travel fare with an eligible Chase card or rewards earned with an eligible Chase card.

Travel delay insurance covers you up to $500 per ticket per trip. You have coverage for delayed flights and other types of trips classified as “common transport.” For example, you could still receive a refund for delays if you booked a bus, cruise, or train trip but not a taxi or train / commuter bus.

These benefits take effect after you have exhausted any other travel delay reimbursement benefits under your loyalty program or third-party travel insurance. Making a claim first means making sure you have eligible expenses. Chase may deny your claim if you are traveling under a known hazard alert, such as a hurricane warning. And prepaid expenses are never covered by travel delay reimbursement. As the cardholder, you must notify a Chase benefits administrator within 60 days of the late date to file a claim. You will receive a claim form that you must complete detailing the circumstances of the delay and your expenses.

You have up to 100 days from the date of the delay to return this form and copies of receipts or other supporting documents to show your expenses. The good news is that It can do this online through a third-party company called Card Benefit Services. Once you have completed the form and upload your receipts, a representative will review your claim.

Auto Rental Collision Damage Waiver

This rental vehicle collision insurance covers up to $75,000 in the event of a car accident or theft while traveling within the United States or abroad. This benefit applies to rental periods of up to 31 days.

Covered costs include

• Physical damage/theft of the rental car.
• Towing costs to move the vehicle to a repair shop.
• Reasonable charges for loss of use incurred by the car rental company.

This coverage is primary, which means you don’t need to purchase additional coverage or involve your own insurance company in the event of an accident. Importantly, you will not be eligible for this benefit if you accept the collision damage waiver the car rental company offers. Covered include the cardholder, which must be listed as the primary renter, and additional authorized drivers added to the rental agreement.

Many vehicles are not eligible for coverage, including:

• Old cars, vans designed to transport more than nine folks, trucks,
• Mopeds, motorcycles, limousines, and recreational vehicles.

You must contact the Benefits Administrator immediately to report an accident or theft and submit completed claim forms within 100 days of the damage/theft. It must receive all remaining supporting documents within three-sixty-five days of the event.

Roadside assistance

This is a practical benefit many people will love and not expect to use. If you have the Chase Sapphire Reserve, you can access some of the best travel credit card insurance coverage. You can even call roadside assistance up to four times a year for help, and Chase will cover up to $50 per incident for the most common car accidents in the United States or Canada, such as flat tires, dead batteries, and locked locks.

This benefit provides various roadside assistance services when traveling in the United States and Canada. Cardholders are covered four times a year for the following services: Battery boost, Flat tire service, Fuel delivery, Trailer, and Blocking aid. Coverage applies to the cardholder who drives their own or rented car. Please note that range is unavailable in areas not traveled regularly (off-highway regions) or for heavy trucks/trailers and utility vehicles.

Travel and emergency assistance

Suppose you are traveling and need emergency assistance (prescription refills, legal referrals, or translation services, to name a few). In that case, this benefit is also available 24 hours a day, seven days a week. References are free, but cardholders are responsible for all costs incurred for using recommended services.

You can call Chase Sapphire’s reserve phone number or a hotline 1-888-675-1461 and get advice, help, or referrals when you are in an unfamiliar location. It could help you translate terms and conditions, provide medical referrals, emergency assistance, or replace a lost airline ticket. Almost everything that It can accomplish over the phone.

Coverage applies to the cardholder, spouse / domestic partner, and dependents under 22.

The following services are offered:

• Emergency messaging service.
• Help with a medical referral.
• Help with legal references.
• Emergency transportation assistance.
• Replacement of the emergency ticket.
• Lost luggage tracking service.
• Emergency translation service.
• Prescription assistance.
• Arrangement for delivery of valuable documents.

Pre-trip aid provides information on exchange rates, local currency, health precautions, and ATM locations.

Emergency evacuation and transportation

Another complex benefit covers the cardholder and immediate family for up to $100,000 for emergency evacuation or transportation. You are covered for emergency evacuation and ride if you are injured or become ill during your trip, resulting in a necessary emergency evacuation for trips of five to sixty days at least 100 km from your home.

The Benefits Administrator must make all the required arrangements for medical travel, and the evacuation must be pre-approved by the Benefits Administrator in consultation with a legally authorized physician who certifies that an emergency evacuation is warranted due to the severity of the injury or illness.

Travel for medical treatment is not covered, nor are non-emergency services or experimental therapies. Coverage extends to the cardholder, their spouse / domestic partner, and dependent children under eighteen or twenty-five if a full-time student at an approved institution. It must submit a completed claim form and supporting documents within 180 days of the event.

Emergency Medical and Dental Benefits

Sapphire Reserve will also pay up to $2,500 in emergency medical or dental benefits per trip. A $50 deductible applies. You must be at least 100 miles from home.

It is rare to find medical or dental coverage on a credit card, but the Chase Sapphire Reserve card offers this benefit to its qualifying cardholders and family members.

It is how it works:

• Provides up to $2,500 ($ 50 deductible) for emergency medical or dental services during a covered trip
• At the treating physician’s request, up to $ 75 per day for five days for a hotel.
• Emergency medical/dental services, hospital rooms, ambulances, medications, and supplies are examples of covered items.
• The journey must be over 160 km from the residence.
• The trip must last between five and 60 days and 100 miles or more from your home.

Covered costs include

• Services of a qualified physician, nurse, dentist, or osteopath.
• Hospital/operating room costs.
• Anesthesia, X-rays, or lab tests.
• Transport by ambulance.
• Drug/medicine.

Coverage applies to the cardholder, their spouse / domestic partner, and legally dependent children under 18 (or 25, provided the child is a full-time student at an approved institution). Chase also described some expenses that are not covered: Non-urgent services, experimental care, and services in countries that the United States considers unsafe to travel to. In an emergency, you should contact your benefits administrator immediately. It must submit a completed claim form and supporting documents within 180 days of the emergency.

Baggage delay insurance

If your luggage is delayed by more than six hours, these benefits will pay up to $100 per day for up to five days for necessities like clothes and toiletries. Even if they are not traveling with the cardholder, coverage is available to the cardholder, their spouse, domestic partner, and any close family members. 

Contact lenses, spectacles, and hearing aids are just a few of the costs that are expressly noted as not being reimbursed. It is advisable to read the fine print of a policy before assuming that you will be reimbursed for your purchases. Within 20 days of the delay, you must submit a claim, and within 90 days, you must give Chase the supporting paperwork. 

Reimbursement of lost baggage

You are protected by the lost luggage compensation policy if the carrier loses your luggage or if you have to pay to replace or repair luggage damaged by the page. The cardholder’s immediate family members are also covered by up to $3,000 per passenger if the cardholder is not going on the trip themselves. The benefits provide up to $500 per person in reimbursements for jewelry, watches, cameras, video recorders, and other technological devices.

The loss or damage must be reported away to the common carrier, and documentation of the notification must be submitted together with the claim. Supporting documentation must be provided within 20 days of the incident and within 90 days. 

Steps for Making a Claim

Earlier to an event is the ideal time to consider making a travel insurance claim. It’s a good idea to spend a little time before you go on your vacation finding out how you or your traveling compassion may get help if something were to go wrong. Reviewing the method for contracting the claims administrator while on the road can help you avoid spending money and irritation later on for not taking the proper steps to ensure your coverage is genuine. 

Reviewing the claims procedure beforehand also makes it simpler to collect necessary information during interruption, such as pictures or a statement from the travel provider, instead of attempting to get the essential evidence after you’ve returned from an interrupted trip. 

The following information is required for claiming travel insurance benefits and safeguards your Chase credit card provides.

The importance of time 

There are specified deadlines for filing a claim, submitting the filled-out and signed claim form, and presenting all necessary evidence for each travel insurance policy. Failure to do so might compromise how your claim is processed. The ideal practice is to contact the claims administrator when a circumstance arises. By taking this step, you can also get the right guidance on ensuring your expenditures are paid for. 

It matters to document

You will be requested to submit supporting evidence to ensure that your claim is protected correctly. Remember that the card issuer uses a third-party claims administrator, not Chase, to handle your claims. Any of the following data might be requested from you:

• A claim form that’s been finished and signed
• Your credit card statement with the last four digits of the card and documents proving you used the qualifying card and points to pay for the trip or rental vehicle.  
• A replica of your itinerary and common carrier ticket.
• Any relevant medical records, as well as a death certificate
• Evidence from the travel company explaining why the vacation was cut short, canceled, or postponed.
• Purchase receipts and meal receipts exceeding $50
• Together with a copy of the travel provider’s cancellation or refund policy.
• Any other information that benefits administrator requests. 

Comparison between Chase Sapphire Reserve vs. Chase Sapphire Preferred 

Conclusion

While the benefits of the Chase Sapphire Reserve travel insurance are advantageous, some of the lesser-known benefits of Chase Spread each perk card offers excellent value. As always, read each perk with complete terms and conditions. Know what you are qualified for and what you need to document before claiming to make the process easy and comfortable so that you can avail maximum benefits.

FAQs

Is there travel insurance available with the Chase Sapphire Reserve card?

One of the most incredible travel insurance packages. Various travel insurance protection is available, including primary automobile rental insurance, trip cancellation/ interruption, lost and delayed luggage coverage, emergency evacuation and medical, roadside assistance, and more.

Is the annual fee for the Chase Sapphire Reserve card worth it?

The advantages of the chase sapphire Reserve card are unquestionably worthwhile if you plan to use them. We calculated that the benefits offered by the card may be worth Chase to $3,500.

Are several Chase Sapphire credit cards allowed?

Even if you are allowed to have several Chase credit cards, you are only allowed to hold the principal cardholder position on one of the chase sapphire cards, either the chase sapphire reserve card or the chase sapphire preferred card. However, you might have the authorization to use another Sapphire card.

Does the Chase Sapphire Reserve provide coverage for missed flights?

No, trip interruption or trip cancellation insurance does not cover flight cancellations. The benefits guide for the Chase Sapphire Reserve travel interruption or trip cancellation insurance contains a comprehensive list of the losses it covers. A few complete lists of the losses that it covers. A few of these are harsh weather, unintentional illness and bodily harm, jury duty, hospitalization, and more. 

Is travel available with the Chase Sapphire Reserve credit card?

Yes, A $300 yearly travel credit is available with the Chase Sapphire Reserve credit card. You will get this as a statement credit if you make qualified travel purchases.