How does BankAmericard purchase protection work?

Bank of America purchase protection covers the damage or theft of new retail purchases made with an eligible Bank of America credit card for 90 days after the purchase. The benefit, also called “Purchase Security,” will pay to repair or replace the item, or reimburse the cardholder, for up to the total purchase price or $10,000, whichever is less.… read full answer

Currently, the only Bank of America credit card with purchase protection is the Bank of America® Premium Rewards® credit card.

Here’s how to file a claim:

To make a Bank of America purchase protection claim, call (888) 221-3289 or visit the Card Benefit Services website within 60 days of the theft or damaging incident. To file a claim for stolen items, you must file a police report within 48 hours of becoming aware of the theft.

You can find a breakdown of Bank of America’s purchase protection rules on the Visa benefits website or in the benefits guide that came with your card. That’s important because some purchases aren’t eligible for Bank of America purchase protection coverage. These include plants, animals, antiques, motor vehicles (including boats), trailers, software, used items, lost items, real estate, medical equipment, perishables, consumables, rented items, and more.

Bank of America travel insurance benefits include lost and damaged luggage reimbursement, travel accident insurance, trip cancellation coverage, and rental car insurance. To be eligible for travel insurance coverage, you’ll need to pay for your travel using your Bank of America credit card.

Types of Bank of America Travel Insurance:

• Trip delay insurance: Reimburses you when a trip starts late because of things you can’t control (bad weather, mechanical breakdowns, etc.).
• Trip cancellation/interruption insurance: Pays out when your trip ends early or gets cancelled because of something out of your control. Reasons include sickness and death of a family member.
• Travel accident insurance: Reimburses you if someone in your party is killed or seriously injured by a travel provider.
• Baggage delay/loss insurance: Pays you when a travel provider loses your baggage, damages it or sends it late. Some items are excluded, like medical equipment, documents and animals.
• Rental car insurance: Reimburses you in the event of collision damage or theft. Certain car types and driving situations are excluded.

Check the guide to benefits that came with your Bank of America credit card to see which types of travel insurance are included. The guide will also show coverage amounts and other details on each of your travel insurance benefits.

If you are looking for a Bank of America credit card with travel insurance, a good option is Bank of America Premium Rewards credit card. There are plenty of other options though, so if travel insurance is important for you, check out our recommendations for the best credit cards for travel insurance.

Yes, the Visa credit card travel insurance is pretty good. It covers all Visa credit card users for damage or theft of rental cars. Some cards also provide coverage for accidents while traveling, trip cancellation and lost luggage. Plus, Visa credit card travel insurance never costs extra. You just have to pay for your travel with your Visa card to be eligible for any coverage it might have.… read full answer

The exact amount of coverage you get, the claims procedures you have to follow, and other fine print depend on the bank or credit union that issues the card. It also makes a difference whether your card is a Visa Platinum, Visa Signature or Visa Infinite (least coverage to most coverage).

Types of Visa Credit Card Travel Insurance

• Travel accident:
  Should you or dependents you’re travelling with die or get seriously disfigured due to the fault of a travel provider, this policy will reimburse you or your family. The amount of money you can get varies, but it could be as much as $500,000 with certain cards. But not all cards will have this benefit. Chase Sapphire Reserve® has the best coverage.
• Trip cancellation/interruption/delay:
  If your trip has to be ended early or moved because of things out of your control (e.g. death, injury, severe weather, military orders and more), you can get compensated for the inconvenience. Coverage might be up to $2,000 per trip, but not every card will have it. The Chase Sapphire Preferred® Card has the best coverage.
• Lost luggage:
  It’s hard to enjoy yourself on a trip if you don’t have any of your belongings. If your luggage gets lost or stolen, Visa may pay you for its value. You could get up to $3,000 per person per trip, but whether you have coverage depends on the card. Chase Sapphire Preferred has the best coverage.
• Rental car:
  Every Visa card should have this, no matter who issues it. If you rent a car with your Visa card and that car gets damaged or stolen, you can be reimbursed. But certain types of cars aren’t eligible (like expensive cars, RVs, motorcycles, and more) and certain situations aren’t either (like drunk driving). You can receive up to the full value of the rental vehicle.

If you’re in the market for a new card, there are several good offers available. Just keep in mind that the best course of action is to check your card’s terms to find out what kind of coverage it has.

Best Visa Cards for Travel Insurance

For more options, WalletHub’s editors have prepared a report on the cards with the best travel insurance to help you out.