How do you use Chase Sapphire purchase protection?

You can use Chase Sapphire purchase protection to repair or replace items paid for with a Chase Sapphire Preferred® Card or Chase Sapphire Reserve® credit card. But not all purchases are covered. And you have to submit a claim within 120 days of buying something to benefit.  

Both Chase Sapphire Preferred and the Chase Sapphire Reserve cover you for up to $500 or $10,000 per item, respectively, if something you buy with your credit card gets lost, stolen or damaged. The annual coverage limit for both cards is $50,000.  

Where Chase Sapphire purchase protection applies:

Generally, Chase Sapphire’s purchase protection policy applies to lost or stolen items as well as items that were damaged by fire/smoke, vandalism, or accidental water/steam leaks. But there are some notable exclusions, including perishable items (e.g. food, plants and pets), collectibles, motor vehicles and computer software. You can’t make a claim on things you bought used, either.

You can check out WalletHub’s 2020 Purchase Protection Report to learn more about what Chase Sapphire covers and how much value you can recoup through the program.

Here’s how to file a Chase Sapphire purchase protection claim:

1. File a police report, if necessary. This applies only to stolen items, but it is very important. You are required to file a police report within 48 hours of the theft for your claim to be valid.
2. Contact the Chase Benefit Administrator. You must let Chase know that you intend to file a claim within 90 days of an item being lost, damaged, or stolen. You can do this by calling (888) 320-9961 if you’re a Chase Sapphire Preferred cardholder or (888) 675-1461 if you are using a Chase Sapphire Reserve. You will need to give the Benefit Administrator basic information about the situation.
3. Wait to receive a claim form. The Benefit Administrator will mail you a claim form following your phone call. You must fill out this form with information about what happened and return it within 120 days of the date of the incident. You’ll also need to send other relevant materials like receipts, police reports, and any settlements you already received.
4. Wait for the Benefit Administrator’s response. If Chase deems your claim to be valid, they will mail you a check for the amount needed to repair or replace your item, up to applicable coverage limits.

Of the two available Chase Sapphire cards, Chase Sapphire Reserve offers better purchase protection. It surpasses Chase Sapphire Preferred in terms of both the amount of coverage you’re eligible to receive and the number of claims you can make. So, while both Sapphire cards are among the best credit cards for purchase protection, according to WalletHub’s editors, only Chase Sapphire Reserve is tied for 1^st overall. Chase Sapphire Preferred is tied for 13th.

You should also note that purchase protection is not meant to replace regular insurance. If your house burns down, for example, Chase Sapphire purchase protection may cover some of the items that were inside but not the house itself. So, you’d still need homeowners insurance in that instance. That’s important because if an item is already covered by another policy, you need to make a claim there first, plus tell Chase about any money you’re awarded.  

You can file a claim by calling 1-888-320-9961 or you can do it online at www.eclaimsline.com. If it hasn't been more than 120 days since your purchase, you should be covered, but they have a coverage amount of $500 max pe claim.

Basically, call them at 1-888-320-9961 as soon as you know the thing was stolen or broken. They're got a 90 day time limit, so if you wait too long, it won't count. After that, talk to the folks, they'll send you a claim letter for you to fill out. Once you do that, send it back with any receipts or details that they ask, including any police report, if it's the case.