CC Travel Insurance restrictions

[webregs]

Hi,

I've noticed that both my ANZ and Amex CC travel insurance require purchase of return tickets from Australia which I hadn't previously realised as I routinely buy one way tickets as my returns are very open-ended.

Does anyone know of other credit cards that don't require this?

What about third-party Travel Insurers? Does anyone know of a third-party insurer that don't require return tickets be purchased as I understand that many do?

TIA
Webby

 

[stm1sydney]

As far as I can tell, CBA Platinum/Diamond does not require you to hold a return ticket (or to buy it on their card). You only need to activate the full cover for each trip, prior to each trip (on Netbank).

 

[opusman]

Check the wording of the policy carefully. From memory the ANZ policy states you must "hold a ticket to return you to Australia", which does not specifically mean you must have a return booking (i.e. two one ways would qualify).

 

[webregs]

Check the wording of the policy carefully. From memory the ANZ policy states you must "hold a ticket to return you to Australia", which does not specifically mean you must have a return booking (i.e. two one ways would qualify).

Yes, but I take this to mean I need a ticket back to AU at the time of departure which I don't as I buy it later when I know my return date.

 

[webregs]

As far as I can tell, CBA Platinum/Diamond does not require you to hold a return ticket (or to buy it on their card). You only need to activate the full cover for each trip, prior to each trip (on Netbank).

Thanks. I'll look into that.

 

[opusman]

In that case I would look into a paid policy without that restriction as it does seem like you wouldn't necessarily be covered.

World Nomads have one that doesn't have a return ticket requirement.

 

[moa999]

Suspect any policy with a trip length limit (most) is going to have this restriction.
(Either express or implied)

Eg. If you have an annual policy with a 45 day limit and don't have a return ticket, could they try and avoid a payout

 

[theblank]

Does anyone know of other credit cards that don't require this?

I have 5 credit cards with Travel Insurance and all require return tickets.

given that most (maybe all) of the CC travel insurancers are underwritten by Allianz, Chubb or QBE, my guess is you are spitting into the wind.

 

[webregs]

I have 5 credit cards with Travel Insurance and all require return tickets.

given that most (maybe all) of the CC travel insurancers are underwritten by Allianz, Chubb or QBE, my guess is you are spitting into the wind.

I have 5 credit cards with Travel Insurance and all require return tickets.

given that most (maybe all) of the CC travel insurancers are underwritten by Allianz, Chubb or QBE, my guess is you are spitting into the wind.

Thanks to all for your replies. Looks like CBA is the only CC option but for the annual card cost I could get third-party TI so looks like the way to go for me.

 

[theblank]

Thanks to all for your replies. Looks like CBA is the only CC option but for the annual card cost I could get third-party TI so looks like the way to go for me.

Where can you get an annual travel policy (unlimited) for $89pa?
($89pa is the cheapest annual fee on the CBA credit cards)

 

[webregs]

Where can you get an annual travel policy (unlimited) for $89pa?
($89pa is the cheapest annual fee on the CBA credit cards)

stm1sydney was referring to CBA Platinum and Diamond, $249/$349 respectively. I wasn't looking for an annual policy.

 

[stm1sydney]

Just had another look at the PDS for CBA Plat/Diamond. They updated this on 1 Oct - new provider and new terms and conditions. It's a lot murkier now on the point of whether you need a return ticket. Arguable either way, but that is not good enough when in dispute with an insurance company!

 

[dajop]

Do you have the funds to purchase a fully refundable ticket back to Australia from somewhere - anywhere (NZ?), that would satisfy the requirement of holding a ticket to return you to Australia(??) ... although granted could be 6% loss due to exchange rate fees depending on the type of CC you hold.

 

[Chicken]

I have the Bankwest Qantas Platinum, and it only need you to spend $500 on your trip before departure, that's it.

Another thing to watch out for, is when your flight is delayed cancelled and you need to buy food or hotel, some insurance require you to charge them to the same card. Charge to a different card or pay cash, and you would not be covered

 

[jgm]

I have the Bankwest Qantas Platinum, and it only need you to spend $500 on your trip before departure, that's it.

Another thing to watch out for, is when your flight is delayed cancelled and you need to buy food or hotel, some insurance require you to charge them to the same card. Charge to a different card or pay cash, and you would not be covered

My Westpac Altitude Black is the same.

 

[Cryptarcadian]

Just had another look at the PDS for CBA Plat/Diamond. They updated this on 1 Oct - new provider and new terms and conditions. It's a lot murkier now on the point of whether you need a return ticket.

Interesting... I just had a look again at the new PDS, and I thought it was pretty clear?

Page 4, big yellow boxes, left hand side
https://www.commbank.com.au/content...s/credit-card-insurances-pds-info-booklet.pdf

"Step one ... it’s included — Overseas Medical"
"It’s automatically included with your card."

"Step two ... activate cover — Overseas Travel Policy"
"There is no cost or spend requirement to get the full benefits of this cover you activate"

@stm1sydney, did you see anywhere else where it was ambiguous? I'd be keen to clarify with CBA, because if there was a spend requirement, the card is even worse value than it already was!

[Edit with second thoughts:]

I see where it's unclear now, despite the fact that it doesn't say you need to have spent anything...

I was thinking that meant you may not even have paid for tickets yet upon activation (one-way or return), which is relevant for cancellation cover, but that is explicitly stated as applying from the moment of activation.

But I also see references to a journey ending "When the card holder cancels their return overseas travel ticket" — which indeed doesn't explicitly address: what if you never had a return ticket in the first place?

 

[Ric]

In that case I would look into a paid policy without that restriction as it does seem like you wouldn't necessarily be covered.

World Nomads have one that doesn't have a return ticket requirement.

As opusman says. World Nomads does not require a return ticket and you can buy travel insurance with them even when you are already out of Oz.

 

[Austman]

In the Allianz cover offered eg by Citibank CCs, it states:

before leaving Australia the cardholder obtains their overseas travel ticket (but not taxes or airport or travel agent charges) by one or a combination of the following methods:
...​

and:

‘overseas travel ticket’ means either:
• a one way ticket from Australia to an overseas destination; or
• a return ticket to an overseas destination and returning to Australia.​

 

[stm1sydney]

Interesting... I just had a look again at the new PDS, and I thought it was pretty clear?

Page 4, big yellow boxes, left hand side
https://www.commbank.com.au/content...s/credit-card-insurances-pds-info-booklet.pdf

"Step one ... it’s included — Overseas Medical"
"It’s automatically included with your card."

"Step two ... activate cover — Overseas Travel Policy"
"There is no cost or spend requirement to get the full benefits of this cover you activate"

@stm1sydney, did you see anywhere else where it was ambiguous? I'd be keen to clarify with CBA, because if there was a spend requirement, the card is even worse value than it already was!

Yes, the PDS does not state that you must hold a return overseas travel ticket, but it does refer to that term in relevant sections.

Page 7, it says overseas medical cover applies for an overseas "journey".

Page 27, journey is defined as:

journey means the following:
The journey starts when you leave your home or your place of
business to travel directly to the Australian air or sea terminal
that is the departure point for your journey.
The journey ends when the first of the following occurs:
• For Overseas Medical, three months after the date
of departure shown on a Gold personal and business
cardholder’s return overseas travel ticket, (six months for
Platinum personal and business cardholders, or 12 months
for Diamond cardholders)
• For an Overseas Travel Policy or any Upgrades, the end
date of the period of cover shown on the Certificate of
Insurance
• At midnight on the date when the cardholder’s scheduled
transport (as shown on their return overseas travel ticket) is
due to arrive in Australia
• When you return to your home, provided you travel
directly there from the Australian air or sea terminal where
you landed
• When the cardholder cancels their return overseas travel
ticket

 

[Cryptarcadian]

Yes, the PDS does not state that you must hold a return overseas travel ticket, but it does refer to that term in relevant sections.

I see what you mean now, and agree it's not very clear! I happened to re-read parts of the PDS this afternoon and noticed that too. (I think I edited my original post above to add extra thoughts, just as you replied. )