I recently learned that Citi is removing the automatic travel insurance from their cards, effective September 1, 2009. If you’re anything like me, then I know exactly what you’re thinking…
“Travel insurance? What travel insurance?”
To be completely honest, I was vaguely aware of this coverage, but my card usage is primarily governed by one thing — credit card rewards — so I’ve never paid much attention.
Whether you know it or not, if you’ve booked travel on any “common carrier” using your Citi card, you’ve been automatically covered by this insurance. Here’s a description of the coverage, straight from Citi:
“When you use [select Citi cards] to buy plane, train, ship or bus tickets, you, your spouse and eligible dependent children are each automatically covered for up to $1, 000, 000 of Automatic Travel Accident Insurance, at no additional cost to you.”
Now that you know about it, will you miss it?
While I realize that this isn’t necessarily an either/or proposition, I’d prefer to see perks like this get dropped rather than having card issuers reduce their reward programs, institute new fees, etc.