How does Visa credit card purchase protection work?

Visa purchase protection covers stolen or damaged items bought with an eligible Visa credit card. You are covered for 90 days following the purchase date. This benefit repairs, replaces, or reimburses eligible products up to $10,000 in coverage per claim and $50,000 per account.

It’s possible to get purchase protection (also called purchase security) on eligible Visa consumer or business cards. But keep in mind that it’s up to the issuer to include purchase protection as part of the card’s benefits. No matter which Visa card you have, you can call the number you see on the back of your card to speak with a representative about your card benefits. You should also keep in mind that not all Visa cards that offer purchase protection will follow Visa’s standard policy.

How the Visa Credit Card Purchase Protection Works

• Overview: Visa purchase protection reimburses items purchased with an eligible Visa credit card in case they get damage or stolen within 90 days of purchase.
• How much is covered: The typical coverage amount for Visa purchase protection is $10,000 per claim and $50,000 per account, though it can vary by card.
• What is covered: The policy will cover purchases made with an eligible Visa credit card.
• What is not covered: Some items will not be eligible for purchase protection coverage. For example, things like animals and plants, motorized vehicles, computer software, perishables, and collectible items are typically not eligible.

It is worth noting that in order to take advantage of this benefit, you must file a claim and submit the required documents within a certain period of time.

How to Use the Visa Purchase Protection Benefit

1. File a police report, if necessary. If the item was stolen, you’re required to file a police report within 48 hours of becoming aware of the theft. You don’t need to file a police report for damaged items that aren’t stolen.
2. File a claim with any other insurance provider. If your other forms of insurance might cover the purchase, you must file a claim with them first.
3. Contact the Benefit Administrator within 60 days of the incident. You can reach the Benefit Administrator at (888) 221-3289.
4. Submit the required claim forms within 90 days. Submit all the claim forms required by the Benefit Administrator, including any records of settlement with other insurance companies, within 90 days of the theft or damage.
5. Collect compensation. If your claim is valid, Visa purchase protection will compensate you, up to your policy maximum. 

Keep in mind that exclusions and coverage limits apply to this benefit. So, make sure to check the benefits guide that came with your Visa credit card for further information.