The vast majority of credit cards sold in Spain have associated insurance linked. The coverage is different, depending on the entity and the card. Thus, the insurance indemnities of a ‘classic’ card will be less than those of a ‘gold’ card.
Many holders of these products are unaware of their existence, since the conditions and coverage of the associated insurance remain semi-hidden in the contracts through which the card was signed. Thus, in order to determine which ones are incorporated, it is enough to take a look at the document.
Among the clauses, we will see detailed from insurance to commissions, through renewal fees (if they exist) or the possible benefits that can be incorporated, to name a few.
From the doubts and questions of WideMarket, we clear the unknowns for this product.
How much do my card insurance cost me?
They usually have no extra cost for the cardholder. They are usually incorporated in the maintenance costs of it.
However, there may be some insurance (usually theft or loss of card), also linked, which may be additionally hired. These do entail an extra cost for the client.
What insurance do you usually have?
The most common are six. The one that covers the vicissitudes that occurred in a trip or accidents, that of damage or loss of luggage, that of life, that of theft or loss of card, against fraud, of protection of purchases… To make the trip, tickets and tickets applicable Purchases must have been purchased with the card in question.
How can I see insurance coverage and premiums?
Usually, users are unaware of the premiums paid by these insurances since they are assumed by the issuing banks, policyholders.
In any case, it is advisable, before hiring a card, to know whether or not it has linked insurance, its cost and compare how much the card costs with and without associated insurance.
All this information will be found in the card contract.
What does the insurance associated with the cards not cover?
They usually do not usually cover any accident that can be had in private transport; claims occurred before hiring the credit card. If, in the case of an accident in a collective transport or loss of luggage, the tickets have not been purchased with the credit card: accidents occurred under the influence of alcohol, drugs or any type of narcotic drugs. And the damage caused by suicide or attempt.
Where to see if a deceased person’s card had associated insurance?
There is a life insurance record through which you can apply for a certificate of death coverage insurance contracts. This is the document that accredits the current contracts in which the deceased person was insured and with which insurance company.
The record can be found on the website of the Ministry of Justice. It should be remembered that the date is available in the Registry of Death Coverage Insurance Contracts for a period of 5 years from the date of death.