What are the trip cancellation policies for Chase Sapphire Reserve due to COVID-19?
The Chase Sapphire Reserve card offers trip cancellation and interruption insurance that can provide reimbursement for non-refundable travel expenses if a trip is canceled for a covered reason related to COVID-19.
Covered reasons may include illness, governmental travel restrictions, or other situations directly caused by the pandemic, but cardholders should review their specific policy details as conditions and exclusions may apply.
Some consumers have reported challenges in successfully claiming these benefits, particularly for COVID-19-related cancellations, as insurance policies and interpretations have evolved over the course of the pandemic.
Travelers are advised to keep thorough documentation, such as proof of cancellation, and to check the latest updates from Chase regarding any adjustments to their trip cancellation and interruption coverage.
The maximum coverage amount under the Chase Sapphire Reserve's trip cancellation and interruption insurance is $10,000 per person and $20,000 per trip.
In addition to trip cancellation and interruption, the Chase Sapphire Reserve also provides other travel insurance benefits, such as trip delay reimbursement and emergency evacuation coverage.
The trip cancellation and interruption insurance is a primary benefit, meaning it pays out before any other travel insurance coverage the cardholder may have.
To be eligible for the trip cancellation and interruption coverage, the cardholder must have paid for at least a portion of the trip using their Chase Sapphire Reserve card or Chase Ultimate Rewards points.
The trip cancellation and interruption insurance does not cover cancellations or interruptions due to fear of travel, pre-existing medical conditions, or changes in travel plans for personal reasons.
Cardholders must file a claim and provide supporting documentation within a specified time frame, typically 20-60 days, in order to be reimbursed for eligible expenses.
The trip cancellation and interruption insurance is underwritten by Federal Insurance Company, a Chubb subsidiary, and administered by Berkley Asset Protection.
Chase has made some updates to its trip cancellation and interruption coverage during the COVID-19 pandemic, such as expanding the list of covered reasons and streamlining the claims process.
The Chase Sapphire Reserve's travel insurance benefits are considered among the most comprehensive in the credit card industry, but the specific coverage terms can be complex.
Cardholders should familiarize themselves with the full details of the trip cancellation and interruption insurance, including any exclusions or limitations, before relying on it for their travel plans.
The trip cancellation and interruption insurance is a secondary benefit to any other travel insurance the cardholder may have, such as coverage provided by their airline or travel provider.
In some cases, the Chase Sapphire Reserve's trip cancellation and interruption insurance may cover costs that are not reimbursed by other sources, such as airline credits or refunds.
The trip cancellation and interruption insurance is subject to an annual limit of 4 service calls and a maximum coverage of $50 per service call, with any additional charges being the cardholder's responsibility.
Cardholders should be aware that the specific terms and conditions of the Chase Sapphire Reserve's trip cancellation and interruption insurance may change over time, so it's important to stay informed of any updates.
The trip cancellation and interruption insurance provided by the Chase Sapphire Reserve is a valuable benefit, but it's crucial for cardholders to understand its limitations and exclusions to maximize its effectiveness.
While the Chase Sapphire Reserve's trip cancellation and interruption insurance can provide financial protection, it's still important for travelers to carefully consider the risks and potential impacts of COVID-19 on their travel plans.