What Is Travel Insurance
Travel insurance can help protect you financially in case of a vacation gone wrong. Whether youâre visiting family, flying abroad or road-tripping across the country, credit card travel insurance could be the safety net you need.
By booking and paying for a trip with a credit card that offers travel insurance benefits, you could get compensationâup to a set limitâfor unplanned costs. For example, some Capital One rewards credit cards offer benefits like travel accident insurance and lost luggage reimbursement.*
Is My Family Covered Under Travel Insurance?
Your familyâs travel insurance coverage can depend on your credit card issuer and network. For example, if youâre a MastercardÂ® or VisaÂ® cardholder, your spouse and kids, depending on their ages, are typically covered. Capital One cardholders can learn about specific card benefits by reading their benefits guide.
Types Of Credit Card Travel Insurance
As listed above, there are several different types of credit card travel insurance. While the types of protections and amount of coverage vary, there are some elements that remain constant throughout.
Here are some of the most common protections:
Travel accident insurance typically covers individuals in the event of death or dismemberment during the course of common carrier travel that is, a vehicle that is licensed to transport any public passenger who pays a fare or buys a ticket with the card and is available on a regular schedule . Here’s what you should know:
- Typically, the coverage is only extended to the cardholder and their immediate family, though how immediate family is defined will vary from issuer to issuer.
- The amount of money this benefit can pay out will typically vary between $100,000 and $500,000.
- The list of exclusions on travel accident insurance is hefty most credit cards will not provide any payout in the event of physical illness disease pregnancy, childbirth or miscarriage bacterial or viral infection bodily malfunctions or medical, surgical treatment or diagnosis.
Baggage Loss Insurance
If your credit card provides lost luggage insurance, you will be covered up to a certain amount of money for the loss or damage sustained to carry-on or checked baggage.
Here’s what you should know:
Baggage Delay Insurance
This insurance can cover purchases so you’re not stuck with just the clothes on your back.
Up To Four Free Authorized Users
Capital One Venture X card members can add up to four authorized users to the Venture X card for free.
The ability to add four free authorized users is a big selling point for this card because your authorized users get:
- Hertz Presidents Circle elite status.
- Free Airport Lounge Access with Priority Pass and Capital One Lounges, including two free guests.
- Travel Protections such as Trip Delay Insurance, Rental Car Insurance, Lost Luggage Protection, and Trip Cancellation Insurance when using the Venture X to pay for travel.
- Purchase Protection when using the Venture X to pay for items.
- Ability to earn 2 to 10 miles per dollar on purchases, which helps you maximize rewards for family spending.
Adding an authorized user will not qualify you to an additional $300 travel credit, 10,000 anniversary points bonus, or an additional TSA Pre-Check or Global Entry credit.
But if an authorized user made a purchase via the Capital One Travel Portal, that would could towards the $300 credit. Or if the authorized user purchased Global Entry or TSA Pre-Check, that would use that credit.
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Priority Pass Airport Lounge Access
One of the best benefits of the Venture X card is access to 1,300+ airport lounges via the Priority Pass network.
Visits to lounges are unlimited and free for you and two guests.
This benefit also applies to up to four authorized users, who can bring up to two guests for free.
You can quickly sign up for this benefit by visiting prioritypass.com/capitalone, entering your Venture X card number, and filling out your name and address.
Cardholders get instant access to their digital Priority Pass card, and you will also be mailed a physical card.
This benefit also works for airport restaurants in the Priority Pass network, which entitle you to a free credit of $26-28 per person.
The Capital One Ventures Priority Pass is better than the American Express Platinum version of Priority Pass, which doesnt allow restaurants.
What Are The Benefits Of Credit Card Travel Insurance
Imagine traveling with peace of mind, knowing that a potential accident or expensive mishap could be reimbursed. With credit card travel insurance, you could be covered in a number of scenarios. Consider checking your credit card benefits to see what events are coveredâand the level of coverage provided.
Trip Cancellation and Interruption Insurance
Canceling a trip at the last minute or cutting it short can be disappointing. But getting your money back on outstanding flights and reservations might relieve your stress. If you booked and paid for your trip with a credit card that offers trip cancellation insurance, you may qualify for it for reasons like health issues or a death in the family.
Your maximum reimbursement depends on your credit card. Some cards might offer up to $2,000 per trip, while other cards could offer up to $20,000 per trip.
Trip Delay Insurance
Travel schedules donât always go as planned. Flights may get delayed, or the weather can go south. And you may need to pay for a meal or a last-minute hotel room while you wait. If you paid for your trip with a card that has trip delay insurance, any reasonable costs during the delay might be covered.
Travel Accident Insurance
Lost or Delayed Baggage Insurance
Say youâre waiting at baggage claim, confident that you packed everything you need to start your tripâonce you get your suitcase. But it never rolls by on the carousel.
Rental Car Insurance
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Who Should Get A Capital One Venture X Credit Card
If you want to boost your travel experience, the Capital One Venture X Credit Card is perfect for you. Interestingly, the anniversary miles and the annual statement credits you can receive for travel bookings cover the overall yearly fee on this card.
The Capital One Venture X card provides free airport lounge access and travel protection and offers its cardholders 10,000 bonus miles on account anniversaries.
In some cases, the card extends a few of these perks to four authorized users for free.
In a nutshell, a Capital One Venture X credit card should suit anyone looking for a one-card setup designed to gain some travel rewards and facilitate all travel purchases.
Capital One Venture X: Benefits And Review
Capital One Venture X card is one of my favorite options for families who want a flexible points option and the best card option for luxe benefits.
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Capital One® Venture X : Earn 75,000 bonus miles
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- $395 annual fee
- $300 annual travel credit when booking through Capital Ones portal
- 10,000 points every year on account anniversary
- Statement credit for Global Entry or TSA Precheck
- Miles can be redeemed to erase any travel purchase. 75,000 miles = $750
- Can be transferred to a variety of partners like Jet Blue, Wyndham, Avianca, Turkish Airways and more.
- Get our so you can max your benefits
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A Flexible & Valuable Mileage Currency
Capital One Venture miles have become increasingly valuable in recent years, and there are lots of great ways to redeem these miles. While you can redeem Capital One miles for one cent each toward virtually any purchase using the Purchase Eraser feature, thats not my preferred use of these miles.
Rather my preference is to transfer miles to Capital Ones airline & hotel partners, as you can transfer miles at a 1:1 ratio to over a dozen partners. As is the case with all major transferable points currencies, this allows you to get way outsized value, especially when redeeming for first & business class travel.
Who Is The Capital One Venture X Rewards Credit Card For
You should consider this card if you want a premium credit card with a flexible rewards program making it easy to earn and redeem miles while enjoying valuable additional travel benefits.
More importantly, this card has an appealing annual fee while offering many of the core benefits of its pricier competitors.
The Venture X Rewards annual fee is only $395 for the primary card and additional cards are free. While this fee is higher than your run-of-the-mill travel rewards card, it is more affordable than the Chase Sapphire Reserve® and The Platinum Card® from American Express . It also offers more benefits than the Capital One Venture Rewards Credit Card .
|Benefits at a Glance|
|19.99% 26.99% variable on purchasesExcellent credit score required|
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Can I Upgrade To Venture X As An Existing Venture Cardholder
According to a Capital One spokesperson, current Venture cardholders whose accounts are in good standing can contact the issuers customer service desk to see if they are eligible for an upgrade to Venture X.
Each applicants situation will be different and evaluated on a case-by-case basis. In TPG’s test calls to Capital One, phone agents offered to upgrade most of our Venture cards to Venture X cards, but reiterated that cardholders would not be eligible for a welcome bonus.
That said, TPG’s executive editor Scott Mayerowitz was told he wasn’t eligible to upgrade his Venture to the Venture X after being denied as a new applicant. So, as the saying goes, your mileage may vary.
Of course, its also very important to evaluate whether you should upgrade or apply as a new applicant.
Upgrades generally have zero impact on your credit score and in many cases, youll even keep the same account number. However, youll lose out on this significant welcome bonus, which is currently 75,000 bonus miles after you spend $4,000 on purchases in the first three months.
So even if youre eligible to upgrade, you might want to apply for the Venture X outright instead.
How Does This Compare To Travel Credits On Other Cards
- The Chase Sapphire Reserve® Card has a $300 annual travel credit that can apply toward any travel purchase, and it doesnt have to be booked through Chases travel portal this continues to be the easiest to use travel credit
- The Platinum Card® from American Express offers all kinds of credits, including a $200 airline fee credit this is rather complicated to use, and includes all kinds of restrictions
Id argue that the Capital One travel credit isnt as easy to use as the Chase travel credit, but is much easier to use than the American Express travel credit. The fact that you earn 5-10x Venture miles even for purchases the credit applies to does set the card apart, since Chase doesnt award points on those purchases.
This also doesnt tell the full story of the cards value proposition, though:
- The Venture X has by far the lowest annual fee of the three cards
- The $300 annual travel credit is only one of the annual perks the card offers the card also offers 10,000 anniversary Capital One bonus miles, which can be redeemed for $100 worth of travel, or can be transferred to airline & hotel partners at a ratio of up to 1:1
- For savvy travelers, the $300 travel credit plus 10,000 bonus miles should be worth more than the cards $395 annual fee, not even factoring in anything else
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Venture X Car Rental Insurance Coverage
This is the big one.
Thanks to Venture X being a Visa Infinite card, the rental car insurance you get when charging your car rental to your Venture X is some of the best coverage youll find among top-tier credit cards.
Just in case the worst happens, Capital One Venture X rental car insurance allows you to skip costly additional policies from the car agency or even your own personal policy saving you more money in the long run.
First things first: You must charge your rental car to your Capital One Venture X card.
And you also must the rental companys collision damage waiver or loss damage waiver. If you do not decline the car rental companys collision damage waiver, your Capital One Venture X coverage will be voided.
Weve broken it down to help you know exactly what youre getting from Captial One Venture Xs auto insurance benefit.
Getting Approved For A Capital One Venture X Card
So far, all reports suggest that its much easier to get this incredible new card than its been to get many other Capital One cards historically. It didnt use to be that way.
Even people with more than one new Capital One Card in the last six months are being approved, as are people who already have two or more card total Capital One cards.
If youve got excellent credit and dont mind adding a new inquiry, that seems to do the trick for applications, based on the data points weve seen. This is an exciting update, and most people are being approved with credit lines north of $20,000, since the minimum line is $10k!
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When To Consider Adding Additional Insurance To Your Trip
You may need to consider adding additional trip insurance if your destination requires specific travel insurance for entry. Some countries are requiring proof of insurance that covers COVID-19 medical care, for example.
Alternatively, cards with a lower or no annual fee may not offer as much travel protection as other cards with higher annual fees. The Chase Freedom Flex is a good example: Overall, it’s a great no-annual-fee credit card, but it only offers secondary car rental insurance, doesn’t offer luggage protection and offers much less trip interruption insurance than other Chase cards. In this case, you may want to purchase additional insurance to make sure you’re fully covered.
Other Cards To Consider
The Capital One Venture X Rewards card offers a well-rounded premium travel product that hits many of the right notes for travelers. But if it doesnt seem like the right fit for you, consider the Chase Sapphire Reserve or The Platinum Card® from American Express.
The Sapphire Reserve has a higher $550 annual fee, but it also offers a $300 annual travel credit that applies to most travel-related purchases which makes it more flexible. Additionally, your points are worth 50% more when redeemed through Chase Ultimate Rewards or the current Pay Yourself Back categories. The Sapphire Reserve bonus categories, which include 3X points on travel and dining, are likely more useful than the Venture X categories.
For more details, check out our Chase Sapphire Reserve review.
The Amex Platinum has a $695 annual fee, but it also offers over $1,400 worth of annual credits. And as for premium travel perks, its hard to beat the global airport lounge access you receive and complimentary hotel elite status with both Hilton Honors and Marriott Bonvoy. For lounge access, Capital One Lounges are just getting started, while The Centurion Lounge network is already established with multiple locations. Select benefits require enrollment.
For more details, check out our American Express Platinum review.
Premium Travel Rewards & Perks
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Types Of Capital One Venture X Travel Insurance
- Travel accident insurance.Capital One will pay up to $250,000 for death or dismemberment caused by travel companies like airlines, trains and buses. Cardholders, their spouses and any dependents younger than age 18 are covered. There are a few exceptions to whats covered, though, so its a good idea to read Capital Ones benefit guide.
- Lost/damaged baggage insurance.Your checked or carry-on luggage is covered up to $3,000 if lost or stolen when you charge your entire common carrier ticket to your Capital One Venture X card.
- Rental car insurance.Youre insured for collision damage and theft when you rent certain types of vehicles with your Capital One Venture X card. Capital One will pay up to the cash value of the vehicle. Notable exceptions include expensive and exotic cars, vans, motorcycles, trucks and limousines.
- Travel and Emergency Assistance Services.You can get help coordinating medical, legal, and travel services while youre away from home. Simply call the Benefit Administrator line at . If you are outside the United States, call collect at .
Exclusions and coverage limits apply to many of these benefits, so make sure to check your Capital One Venture X cards guide to benefits for more details on each type of insurance.
How To Invest In A Bear Market
Seeing the value of your portfolio decline sharply can be distressing, but its important to remember that bear markets are normal. The stock market is cyclical, so while it may be tempting to sell your stocks when the market is down to protect some of your money, that strategy could hurt you over the long haul.
If you sell your stocks during a bear market, you may miss out on the rebound that typically happens after the market reaches its lowest point. If you need to sell your stocks to access cash, you may have to sell them at a loss.
Historically, the stock market has recovered from bear markets and produced positive returns. The average annual return on a stock portfolio between 1926 and 2021 was 12.3%.
If youre a new investor, you may be tempted to sell your stocks when the market starts to decline. However, bear markets are typically temporary, and investors that stay the course and hold onto their stocks during a bear market are typically rewarded for their patience.
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