5 Best Credit Cards For Travel Insurance

(Updated November 3rd, 2019)

Traveling is one of life’s events that bring joyful memories and unique experiences to all of us. But that does not mean it is a risk-free activity. Today, with the recent unfortunate events around the globe, Malaysians are more aware of the importance of travel insurance whenever they travel. What if you could get travel insurance for free? Wouldn’t that be awesome?

Why Is Travel Insurance Important?

By taking out travel insurance you are essentially covering yourself against travel risks such as lost or stolen luggage, cancellation cover (should you not be able to travel due to unexpected medical reasons) and most importantly, unexpected medical costs abroad.

Travel insurance comes in handy when you face these issues while traveling:

• Personal accident
• Loss of baggage, documents, and expensive personal items
• Medical expenses (overseas)
• Travel delay
• Travel overbooked
• Missed flights

Different insurance companies may offer more coverage and benefits, but it really depends on what you are looking for. The cost of travel insurance also varies based on the location and length of your trip too. For example, travel insurance for an individual to Australia for 14 days can cost between RM30 to RM80, subjective to coverage and provider.

However, you can get travel insurance with up to RM 2 million coverage for free if you have the right credit card and purchase your flight tickets with the same card.

Here are the 5 best air miles credit cards that offer free travel insurance and a whole lot more:

Ambank Visa Signature

Up to RM1 million insurance coverage.

Eligibility:

• Minimum Income: RM80,000 per annum
• Minimum Age: 21 years old
• Annual Fee: Free for life

You may not think of travel insurance when you think of AmBank, but this will change your mind. With the AmBank Visa Signature credit card, you can enjoy up to RM1 mil insurance coverage including death and total and permanent disability pay-out when you buy your flight tickets to the same card.

• Further compensation benefits are as below:
• Lost Luggage (more than 6 hours) – up to RM1,600
• Delayed Luggage (more than 6 hours) – up to RM800
• Flight Delay (more than 6 hours) – up to RM800
• Missed Connection (more than 4 hours) – up to RM800

AmBank Visa Signature is also a great Air Miles credit card where you can convert AmBonus Points to Air Miles with 3 world class Frequent Flyer / Travel Reward Programs such as Enrich, Asia Miles, Singapore Airlines KrisFlyer and AirAsia BIG and redeem free flights for your next getaway with over 50 airline partners.

Added Premium benefits converts your AmBonus Points to redeem discounts up to 50% with the Hilton Premium Club Membership Card. Open up a world of 5-star luxury dining and lounge experience.

Alliance Bank Visa Infinite Card

Travel insurance by MSIG Insurance (Malaysia)

Eligibility:

• Minimum Income: RM150,000 per annum
• Minimum Age: 21 years old
• Annual Fee: Free for life

Is it best to have a credit card with strong banking or good insurance benefits? Why not have both? Enter the Alliance Bank Visa Infinite card – a card that does more for your finances and travel insurance. Aside from the 5x Timeless Bonus Points for overseas retail spend and 2x Timeless Bonus Points for local retail spend, you also enjoy these features:

• Complimentary Supplementary Card
• Lifetime Annual Fee Waiver
• Free Flights with Enrich Miles and AirAsia BIG Points redemption
• Access to KLIA Plaza Premium Lounge

Don’t forget the travel insurance. Complimentary travel insurance coverage is issued by MSIG Insurance (Malaysia) Bhd with Alliance Bank Malaysia Berhad. Benefits are as follows:

• Lost Luggage – up to RM5,000
• Delayed Luggage – up to RM2,000
• Missed Connection – up to RM2,000
• Medical Expenses Coverage – up to RM50,000
• Death or Total Permanent Disablement – up to RM2,000,000

Citibank Citi Rewards Card

Insurance coverage  by CHUBB insurance.

Eligibility:

• Minimum Income:
  • RM60,000 per annum (Visa Signature)
  • RM90,000 (World Mastercard)
• Minimum Age : 21 years old
• Annual Fee: RM600 for Principal card

One of the biggest players in the credit card line-up is Citibank. A global leader, the Citi Rewards Card allows for 5x Rewards Points on everyday spend plus an additional 5x Rewards Points on overseas spend. Premium lounge, 24/7 worldwide concierge and VIP privileges at luxury hotels are all part of the perks of this exclusive card. Insurance coverage is provided by CHUBB insurance. Benefits are as below:

• Accidental Death or Total Permanent Disablement – up to RM50,000
• 30 Days protection up to maximum RM10,000 per item or RM25,000 per occurrence for personal items. This includes accidental loss, damage and theft.

Although the insurance coverage may not seem as great as other cards, you get a world of benefits such as converting your outstanding balance into monthly instalments, converting retail transactions into monthly instalments and cash from credit card online.

Exclusive Promo for Citibank - Click here!

CIMB World Credit Card

Up to RM1 million insurance coverage.

Eligibility:

• Minimum Income: RM90,000 per annum
• Minimum Age: 21 years old
• Annual Fee: Free for life

It’s always best to support our local banks. Thankfully, CIMB offers good remunerations with its CIMB World Credit Card. You’ll be able to enjoy exclusive regional golf privileges along with accumulated bonus points whenever you spend and World Mastercard Concierge Services. You also get airport premium ride deals, regional dining privileges and food and beverage privileges. Insurance coverage is the icing on the cake.

• Lost Luggage – up to RM12,000
• Delayed Luggage – RM1,000 or up to RM2,000 per family
• Flight Delay – RM1,000 or up to RM2,000 per family
• Missed Connection – RM1,000 or up to RM2,000 per family
• Accidental death or total permanent disability – up to RM1,000,000 lump sum.

Maybank 2 Platinum Card

Up to RM1 million insurance coverage.

Eligibility:

• Minimum Income: RM60,000. per annum
• Minimum Age: 21 years old
• Annual Fee: Free for life

The list wouldn’t be complete if we didn’t add Malaysia’s favourite bank – Maybank. If you are a Maybank 2 Platinum Card holder, you get to enjoy complimentary insurance coverage up to RM1 mil involving death and total and permanent disability. This applies when you use this card to purchase your flight tickets in full.

You are also entitled to coverage on these travel inconveniences:

• Lost Luggage (more than 48 hours) – up to RM2,500
• Delayed Luggage (more than 6 hours) – up to RM800
• Flight Delay (more than 6 hours) – up to RM800
• Missed Connection (more than 4 hours) – up to RM800

On top of this feature, you can earn 5 x TreatsPoints with your American Express card by spending in Malaysia or overseas and get extra 5% cashback during the weekend.

Exclusive Promo for Maybank - Click here!

If you have any of these credit cards, you don’t need to spend any more on travel insurance. Keep in mind that the free insurance is typically only for the primary cardholder, even if you buy tickets for multiple passnegers.

Now that you know travel insurance can be free, do not forget to share this article with your friends and family so they can enjoy the same perks too!