Credit Card Insurance

By allowing cardholders to make purchases on credit instantly, Credit Cards can be an excellent addition to any wallet. But apart from easy access to credit, the cards also come with various additional benefits.

For instance, you can now find Credit Cards with insurance benefits. Let's look at what is Credit Card insurance, its working, types, and more.

Credit Card Insurance provides financial protection against a range of unfortunate events, including accidental death, travel-related losses, damaged products, and more.

In addition, the Credit Cards that come with such insurance benefits do not require the cardholder to pay any additional premium for the insurance coverage.

The insurance benefits, available with a Credit Card, work just like any regular insurance product. The embedded insurance plans come with a fixed coverage which the cardholder would be eligible to claim in case they go through any unfortunate event covered by the plan.

Some of the most common types of Credit Card insurance are as follows-

• Card Liability Cover:

If your Credit Card gets stolen or lost and there are fraudulent transactions using the card, you will be covered for it by the card issuing company. Similarly, banks will also cover losses arising due to the use of duplicate or counterfeit cards as soon as you have formally reported the theft/loss of the credit card to the issuing company.

• Purchase Protection

With Credit Card Purchase Protection, the products purchased through the Credit Card are protected against damages caused due to theft or fire up to a certain period. If the product is damaged due to any of the reasons covered in the plan, the cardholder can file a claim.

• Travel Insurance

The Travel Insurance on a Credit Card eliminates the need for the cardholders to purchase additional Travel Insurance. It offers air accident cover along with losses caused due to-

• Baggage delay
• Baggage loss
• Plane hijack
• Loss of passport & travel related documents

• Accidental Insurance

Accidents could result in severe consequences ranging from injuries and disabilities to death. With Credit Card Accidental Death Protection, the cardholder is protected against losses caused due to an accident up to a certain amount.

• Credit Shield Insurance

In case of the unfortunate demise of the cardholder, it could be very challenging to repay the existing debt. Credit Insurance can pay off such debts resulting only from the use of Credit Cards as per the pre-fixed limit. 

• Rental Car Insurance

By paying for a rental car through your Credit Card, you can be eligible for Rental Car Insurance. The insurance will offer coverage against rental car accidents to ensure the cardholder doesn’t have to pay for the damages from their pockets.

• Document Replacement

You can also find Credit Cards that come with Documents Replacement Insurance. With this plan, you can get vital documents like PAN replaced for free.

AU Small Finance Bank offers an exclusive range of feature-packed Credit Cards with various insurance covers depending on the type of card you choose.

Apart from comprehensive Credit Card Insurance Cover, they offer extensive lifestyle privileges and benefits like Airport Lounge Access, Luxury Hotel Membership, Accelerated Reward Points, and more. Apply for AU Credit Cards today and upgrade to a new world of possibilities.