How does Citi Costco Anywhere Visa trip cancellation & interruption insurance work?

Citibank credit card travel insurance provides more than $500,000 in coverage for travel accidents, lost baggage, cancelled/interrupted trips and more. Coverage applies to travel purchases made with eligible Citi cards before September 22, 2019, when Citi is discontinuing its travel insurance program.

The best Citi credit card for travel insurance, while it lasts, is the Costco Anywhere Visa Card. It offers all the major types of travel-related coverage.… read full answer

Citibank’s travel accident insurance covers you and your family up to $500,000 per person if any of you get injured by a travel provider. The exact amount depends on the extent of the accident. But don’t count on coverage at all if the accident happens in a rideshare or a rental car.

Trip cancellation and interruption insurance kicks in when life events get in the way of travel plans. If you suddenly come under doctor’s orders not to travel, or a weather event forces you to cancel, Citibank may cover some of your losses. If you’ve already begun your trip but must extend it for one of Citibank’s covered reasons—such as the death of a family member or a weather event—Citibank may pay for you to extend your trip.

Plus, Citibank lost baggage protection offers covered travelers up to $3,000 per person to refund the costs associated with baggage lost while traveling on fare-based transportation (excluding rideshares, rentals, and taxis). And, for the time being, there’s rental car insurance, too.

To file a claim, call 1-866-918-4670 as soon as possible. Claims must be filed within 60 days of the covered event, in most cases. And covered events must occur by 9/22/19, due to Citibank discontinuing its travel insurance coverage.

Citi isn’t the only major credit card company to drop its travel insurance benefits in recent months. Discover cut all of its credit card travel insurance benefits in February 2018, and Chase announced some benefit cutbacks in April 2019. Both card companies mention low usage in their reasoning.

There are many Costco Visa travel benefits, even though it’s marketed more as an everyday cash back credit card than as a travel card. In addition to 3% cash back rewards on travel purchases, you’ll also get travel insurance, roadside assistance and various other perks. Together, these factors make the Costco Anywhere Visa a solid choice for travel, especially domestically. … read full answer

Here are the Costco Visa travel benefits:

• 3% to 4% cash back in key spending categories. You’ll get 3% cash back at restaurants and on other eligible travel expenses (airfare, hotels, cruises, etc.). You’ll also earn 4% cash back on the first $7,000 you spend on eligible gas every year. So both big and small travel costs get great earning rates. All other purchases earn just 1% back (or 2% at Costco itself).
  
• Trip Cancellation Insurance. When you have to cancel a trip or stop it early because of situations out of your control (e.g. injury, sickness, severe weather), you may be compensated. You need to pay for your trip with your Costco card.
  
• Travel accident insurance. This covers you for death or dismemberment (fun stuff to think about, right?). You need to charge the cost of your fare to your Costco card.
  
• Auto rental insurance. You are protected against having to pay for damage resulting from theft or collision when you rent certain types of cars, pay with your Costco Visa and don’t buy insurance through the rental agency.
  
• Travel Notification. Tells you about any suspicious activity on your account while you’re gone.
  
• Citi Concierge. Acts like a personal assistant to help you plan your trip (e.g. will book restaurants for you).
  
• 24/7 roadside assistance. If your car breaks down, you can call Citi for help.
  
• International card replacement. If you lose your card while you’re abroad (or it’s stolen), you can call 1-800-950-5114 to get a new one.
  
• Great exchange rates. Since this card is a Visa, you can use it anywhere in the world that credit cards are accepted. And you’ll get some of the best exchange rates too.

At the end of the day, the Costco Visa has a lot of travel appeal, from its great rewards to its secondary benefits. But it’s not the right choice if you’re planning to travel abroad or buy things from international sellers, thanks to a 3% foreign transaction fee. Fortunately, there are lots of cards with no foreign fee to choose from.