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Credit card travel insurance AOK: Choice

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CHOICE compared 59 credit cards for the study. Picture: Supplied.

TRAVEL insurance that comes with credit cards is just as good as stand-alone policies, but the paperwork is too long and complex, a new CHOICE study has found.

The consumer advocacy group compared 59 credit cards from 17 institutions that offer complimentary international travel insurance to card holders.

“If you’ve avoided credit card travel insurance because you’ve heard it’s not as good as a stand-alone policy, then think again,” CHOICE spokeswoman Ingrid Just said.

“We were pleasantly surprised by the level of coverage some card policies provide.”

But CHOICE found the policy disclosure statements were too long and complex.

“Most policy documents have over 50 pages, and that’s a turn-off for anyone,” Ms Just said.

“If they don’t check the whole document they could miss vital information that makes the difference between being insured or not.”

CHOICE found that, in most product disclosure statements compared in the review, a person would have to read at least 20 pages before getting to vital information about the need to activate the travel insurance by buying at least part of their ticket on the card.

“We believe that vital information should be front and centre on the first page, not buried deep in the document,” Ms Just said.

All of the cards CHOICE looked at provided unlimited or very high levels of cover for medical and cancellation expenses overseas, but Ms Just said you need to be aware of any exclusions.

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