How They Differ When It Comes To Travel Insurance

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How They Differ When It Comes To Travel Insurance


Both the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® Card are some of the most popular rewards cards on the market. They also offer some of the most valuable rewards as well as travel perks, bonus credits, and other benefits, making them sought-after cards for those looking to maximize their rewards earnings.

While the cards are similar, they do come with some differences when it comes to the travel insurance policies they offer. If travel insurance is important to you and you’re considering a Chase Sapphire Card, this guide will help you decide which option is better for you and your wallet.

Differences between the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® Card

While these cards share many similarities, there are a few significant differences between them when it comes to travel insurance. The Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® Card differ when it comes to Trip Delay Reimbursement, Roadside Assistance, Travel Accident Insurance, Emergency Evacuation and Transportation, and Emergency Medical and Dental.

In general, the Chase Sapphire Reserve® Card offers slightly more comprehensive travel benefits.

  Chase Sapphire Preferred® Card Chase Sapphire Reserve® Card
Trip delay reimbursement You are covered for unreimbursed expenses up to $500 per ticket if your carrier travel is delayed more than 12 hours or requires an overnight stay You are covered for unreimbursed expenses up to $500 per ticket if your carrier travel is delayed more than six hours or requires an overnight stay
Roadside assistance Roadside service fees will be provided when you call and will be billed to your card You’re covered up to $50 per incident four times a year for emergency roadside assistance
Travel accident insurance You are eligible to receive accidental death or dismemberment coverage of up to $500,000 You are eligible to receive accidental death or dismemberment coverage of up to $1,000,000
Emergency evacuation and transportation Not offered You can be covered for medical services and transportation up to $100,000
Emergency medical and dental benefit Not offered You can be reimbursed up to $2,500 for medical expenses if you’re at least 100 miles from home

Chase Sapphire Preferred® Card travel insurance overview

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In general, the Chase Sapphire Preferred® Card offers slightly less comprehensive benefits than the Chase Sapphire Reserve® Card, especially when it comes to Trip Delay Reimbursement, Roadside Assistance, Travel Accident Insurance, Emergency Evacuation and Transportation, and Emergency Medical and Dental. But, the rewards and lower annual fee may make up for that. 

Trip cancellation/interruption insurance

You can be reimbursed up to $10,000 per person and $20,000 per trip if your trip is canceled due to illness, weather, or other reasons. Covered expenses include plane tickets, tours, hotels, and more.

Baggage delay insurance

If your baggage is delayed over six hours, you can be reimbursed up to $100 a day for five days. This can provide a little peace of mind in the event that your baggage gets tied up while you’re traveling.

Trip delay reimbursement

If your travel is delayed more than 12 hours or requires an overnight stay, you’re covered for unreimbursed expenses up to $500 per ticket. This includes hotel stays, meals, and other expenses.

Roadside assistance

If you run into car trouble while traveling, you can call 1-800-847-2869 to get roadside help. Expenses for these services will be billed to your card.

Lost luggage reimbursement

If your luggage is damaged or lost, you’re covered up to $3,000 per passenger. This can be a great help if you have valuable luggage that you want to protect in the case of an accident.

Travel and emergency assistance

If you need assistance while traveling, you can call the Benefit Administrator for legal and medical referrals. While you’ll still have to pay for these services, it can be a big help if you need expert help while on the road or in another country.

Travel accident insurance

You are eligible to receive accidental death or dismemberment coverage of up to $500,000 with this card. While this perk might not be first on your list when it comes to choosing a rewards credit card, it’s still a nice added perk in the case of an accident.

Other travel benefits

The Chase Sapphire Preferred® Card is built for travelers, offering 2x points on both dining and travel. But, you’ll also earn the same 2x points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021), and 1 point per dollar on all other purchases. 

Pair that with the lack of foreign transaction fees, and 25% more redemption value when you book travel through Chase Ultimate Rewards®, and this is a card any frequent traveler will want in their wallet.

Chase Sapphire Preferred® Card pros and cons

Pros of the Chase Sapphire Preferred® Card:

  • Lower annual fee – The Chase Sapphire Preffered® Card has just a $95 annual fee, compared to the Chase Sapphire Reserve® Card’s $550 annual fee. 
  • Great travel insurance and other travel-related benefits – While the Chase Sapphire Preferred® Card may not come with all the bells and whistles, they still provide a ton of bang for your buck, with everything from trip cancellation insurance to lost luggage coverage and emergency assistance.
  • A lucrative rewards program that benefits frequent travelers – You’ll earn 2x points on both dining and travel (as well as 2x points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021), and 1 point per dollar on all other purchases. 

Cons of the Chase Sapphire Preferred® Card:

  • Less comprehensive travel insurance –  Compared to the Chase Sapphire Reserve® Card, the Chase Sapphire Preferred® Card has less impressive travel insurance coverage.
  • No emergency evacuation, transportation, medical, or dental benefits – While the Chase Sapphire Preffered® Card does come with some great travel insurance benefits, it’s lacking in some areas.

Chase Sapphire Reserve® Card travel insurance overview

In general, the Chase Sapphire Reserve® Card offers slightly more comprehensive benefits than the Chase Sapphire Preferred® Card, especially when it comes to Trip Delay Reimbursement, Roadside Assistance, Travel Accident Insurance, Emergency Evacuation and Transportation, and Emergency Medical and Dental. But, you’ll need to seriously consider if you’re willing to pay the high annual fee to earn those benefits. 

Trip cancellation/interruption insurance

Chase offers trip cancellation and interruption insurance for cardholders. This means that if your trip happens to be canceled or interrupted due to certain factors beyond your control, you may be able to be reimbursed up to $10,000 per person and $20,000 per trip.

Qualifying factors include sickness and severe weather. Some of the travel expenses that you could potentially be reimbursed for include passenger fares, tours, and hotels.

Baggage delay insurance

If you’re a cardholder, the Chase Sapphire Reserve® Card will reimburse you for essential purchases like toiletries and clothing for baggage delays over six hours up to $100 a day for five days. This can make the headache of a baggage delay a little bit easier to swallow and make your travels run more smoothly.

Trip delay reimbursement

If your travel is delayed more than six hours or requires an overnight stay, you and your family will be covered for unreimbursed expenses up to $500 per ticket. This includes expenses like food and lodging during your delay.

Roadside assistance

Chase offers roadside assistance for up to $50 per incident four times a year. This covers things like running out of gas, getting locked out of your car, needing a tow, or when you get a flat tire.

Lost luggage reimbursement

Chase covers loss of damaged luggage for up to $3,000 per passenger. This can be a lifesaver if your baggage contains valuable items that might be difficult to replace.

Travel and emergency assistance

If you need assistance when you’re traveling, you can call Chase for recommendations and referrals. While you’ll still have to pay for the cost of these services, it can help to get an expert recommendation when you’re in a sticky situation.

Travel accident insurance

While getting in an accident while traveling may not be top on your list of concerns, it’s nice to know that Chase will cover you in case it happens. You can receive accidental death or dismemberment coverage of up to $1,000,000 when you use your card to book travel.

Emergency evacuation and transportation

If you get injured or sick when traveling and need an emergency evacuation, you can be covered for medical services and transportation up to $100,000.

Emergency medical and dental benefit

If you get sick when traveling and need medical or dental care, you can be reimbursed up to $2,500 for medical expenses. This coverage only applies if you’re traveling further than 100 miles from home.

Other travel benefits

The card comes with a variety of other travel-related benefits, including:

  • A $300 annual travel credit.
  • Airport lounge access.
  • TSA pre-check.
  • No foreign transaction fees.

And not to mention, you’ll earn 3x points on travel and dining worldwide (and 3x back on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021), plus 1 point per dollar on all other purchases. 

Chase Sapphire Reserve® Card pros and cons

Pros of the Chase Sapphire Reserve® Card:

  • Robust travel insurance coverage and travel-related perks – The Chase Sapphire Reserve® Card wins in the category of travel insurance. You’ll get coverage for nearly every travel-related incident you can think of, making this the perfect card for frequent travelers. 
  • A lucrative rewards system that benefits frequent travelers – You’ll earn 3x points on travel and dining worldwide (and 3x back on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021), plus 1 point per dollar on all other purchases. 
  • Additional features like airport lounge access and TSA pre-check – If you’re a frequent traveler who likes luxurious travel, the Chase Sapphire Reserve® Card is the perfect fit.

Cons of the Chase Sapphire Reserve® Card:

  • High annual fee – You’ll pay a whopping $550 annual fee. 
  • Only available to borrowers with great credit – As you can probably tell from the perks and high annual fee, you’ll need to have at least a good credit score to qualify.

How to use Chase’s travel insurance

How you use Chase’s travel rewards depends on what benefit you’re accessing. Different benefits have different timetables and procedures associated with them. In general, you should contact Chase as soon as possible after an incident has occurred if you plan to file a claim, and should fill out any required paperwork promptly in order to ensure that you receive the proper coverage.

For example, if you’re a Chase Sapphire Reserve® cardholder and your trip is canceled or interrupted, you’ll need to contact Chase within 48 hours for medical-related trip cancellation. You’ll then need to file a written claim within 20 days. The Benefit Administrator will then send you a claim form, and you’ll need to submit a completed claim form with supporting documentation within 90 days.

The timetables for contacting Chase, filing a claim, and submitting a completed claim form vary depending on what benefit you’re using.

What credit scores you need for these cards

Both the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® Card require high credit scores in order to qualify. In general, you’ll need a credit score of around 720.

Credit card application approval depends on a wide variety of factors, so you may be able to qualify for these cards with a slightly lower score, but it’s unlikely you’ll be approved if your score is in the 600s. While this makes the card inaccessible to borrowers with poor to average credit, it’s a great option for borrowers with excellent credit looking for a rewards card with great travel benefits.

Summary

Both the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® Card have fairly similar benefits when it comes to travel insurance. However, the Chase Sapphire Reserve® Card has a slight edge when it comes to perks like trip delays, emergency assistance and expenses, and roadside assistance.

The Chase Sapphire Preferred® Card also has a much lower fee at $95, while the annual fee for the Chase Sapphire Reserve® Card is much higher at $550. If travel rewards are important to you and you’re comfortable with the higher annual fee, you should opt for the Chase Sapphire Reserve® Card. But if you’re looking for a less expensive card that still comes with great benefits, the Chase Sapphire Preferred® Card is also a good choice.

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