Chase Freedom purchase protection will pay up to $500 per item and $50,000 per account each year in the event that items purchased with a Chase Freedom card are damaged, lost or stolen within 120 days. That means Chase Freedom purchase protection is essentially a free retail insurance policy. To take advantage of this perk, call the Benefit Administrator within 90 days of an incident to request a claim form. Then, file a claim with Chase within 120 days of the incident.
You can’t get your money back on just anything. There are a number of things that aren’t eligible for Chase Freedom purchase protection. They include antiques, motorized vehicles, animals, plants, medical equipment and computer software. Perishables and used items don’t count either. For the full list, take a look at the Chase Freedom benefits guide.
Fortunately, as long as your item fits the eligibility requirements, making a claim is fairly easy.
Here’s how to use Chase Freedom purchase protection:
Call the Chase Benefit Administrator at 1-888-320-9656 within 90 days of the incident. Explain what happened so Chase can send you the correct claim form.
Fill out the claim form. Do this within 120 days of the incident. In order to prove your case, you’ll also need to include things like receipts, a police report (if applicable) and any other insurance information.
Wait for Chase’s response. Chase should provide payment within 15 days of receiving and approving your claim. Reimbursement could be for the cost of replacing the item or having it repaired.
Chase Freedom purchase protection is secondary to any other insurance you might have. In other words, if your item is covered by another insurance policy, you’ll need to file a claim there first and then inform Chase of any settlements you receive.
Chase may also reimburse you up to $250 per item and $1,000 per year for recent purchases that you were unable to return to the store. This is called “return protection.”