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Fantastic Chase trip cancellation insurance coverage used to be available even when paying only part of the trip with a card such as the Chase Ink Preferred or Chase Sapphire Reserve or Chase Sapphire Reserve for Business. That meant, for example, that you could pay $50 using a Sapphire Reserve towards a $20,000 non-refundable trip for you and your travel companion, and be covered for the full $20,000 for the two of you (up to $10,000 per covered traveler) if having to cancel the trip due to covered reasons, such as one of you falling ill such that the doctor advised in writing that you not proceed with the trip.
Chase trip cancellation no longer works this way. If you check your Chase Sapphire Reserve Benefits Guide, the relevant language now reads (bold font is mine):
This benefit provides reimbursement for covered travel expenses if a Trip is cancelled or interrupted due to a covered reason. Coverage is limited to the lesser of the following:
- $10,000 per Covered Traveler
- $20,000 per Trip for all Covered Travelers and
$40,000 per twelve (12) month period per Account - the actual amount charged to the Covered Card and/or
redeemable Rewards used for a covered travel expense
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That means that if you only paid $50 using your Sapphire Reserve or Ink Business Preferred toward the trip, the maximum you'll be covered for using that card is $50. If you want the maximum $10,000 per covered traveler (up to $20,000 per trip) coverage amount you'd better pay that full amount with the Sapphire Reserve. Similarly, if you're using the Ink Business Preferred, which still earns 3X points per dollar on all travel, including cruises, you'll want to pay $10,000 using that card to be covered for $5000 per covered traveler (up to $10,000 per trip).
Something to note, however, is that Chase trip cancellation and trip interruption insurance does NOT cover any pre-existing medical conditions or events that occur prior to the initial trip deposit or booking date of the trip, such as an illness, disease, or bodily injury where medical advice or treatment was recommended or received within the 60 days prior to booking the trip or paying the initial deposit. To cover pre-existing medical conditions, we usually secure Allianz travel insurance for our clients.
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