by Jack Hojnar
If you're like many people, you might be wondering about the insurance benefits offered by credit cards and what the trends are for 2023. Well, you're in luck. Here's a quick overview of what you need to know:
First, it's important to understand that not all credit cards offer the same insurance benefits. These benefits are usually offered as an added incentive to encourage people to use the card. That being said, many credit cards do offer some form of insurance, including:
• Travel insurance: This can include coverage for trip cancellations, lost luggage, and emergency medical expenses while you're traveling.
• Car rental protection : This can cover damages to a rental car if you charge the rental to your credit card.
• Purchase security : This can cover your purchases if they're lost, stolen, or damaged within a certain time frame (usually 90 days).
• Extended warranties: This can extend the manufacturer's warranty on certain purchases if you charge them to your credit card.
Now, let's take a look at some of the trends for 2023. One trend we're seeing is an increase in the number of credit cards offering insurance benefits. As more and more people turn to credit cards for their everyday expenses, credit card companies are offering more and more insurance benefits , this includes Fin-Techs.
Another trend we're seeing is an increase in the scope of insurance benefits offered by credit cards. Many credit cards are now offering more comprehensive coverage, including things like medical evacuation coverage and cell phone protection.
So what does this mean for you? If you're in the market for a new credit card, be sure to look for one that offers insurance benefits that are important to you. And if you already have a credit card, be sure to familiarize yourself with the insurance benefits it offers so you can take advantage of them if you need to.
In summary, credit cards are increasingly offering insurance and other benefits as an incentive to encourage people to use them, and these benefits are becoming more comprehensive. Be a smart consumer nad check your card benefits today!