For the last three years I have been happy to pay hundreds of dollars for a Premium Credit Card.
As I travel overseas at least twice a year I used to pay over $300 for an annual travel insurance policy. ( For more than one trip a year an annual policy is less than buying a policy for each trip)
I now pay less than the cost of the annual premium and get the added benefit of a better rate of frequent flyer points for my personal spending.
Check The Policy First!
Not all premium credit card insurance policies are the same.
Some only cover the card holder (including one of the big name cards), others like mine, cover the card holder plus anyone travelling with the card holder.
The amount of cover for various risks does vary from card to card.
Also the amount of holiday spend to activate the cover can vary. (Very important if you are paying for a flight using frequent flyer points)
Yes, some standard card have travel insurance, but most of the policies don’t offer a high enough level of cover for me.
I received a ‘signing on’ bonus of 100,000 points which can take you a long way
Many premium credit cards do offer a range of benefits including ; discounted or free flights, airport lounge passes, concierge services.
For me the travel insurance is the main reason for choosing a premium card but these benefits may be of additional value to you.
I have not been paid or received any other benefit from this post. I do not recommend a particular credit card provider.