Cole Schenewerk’s passion for credit card points and miles has led him around the globe. Following a career in corporate finance, he now helps others maximize the rewards they earn from their spending on credit cards.
Cole Schenewerk Credit Cards WriterCole Schenewerk’s passion for credit card points and miles has led him around the globe. Following a career in corporate finance, he now helps others maximize the rewards they earn from their spending on credit cards.
Written By Cole Schenewerk Credit Cards WriterCole Schenewerk’s passion for credit card points and miles has led him around the globe. Following a career in corporate finance, he now helps others maximize the rewards they earn from their spending on credit cards.
Cole Schenewerk Credit Cards WriterCole Schenewerk’s passion for credit card points and miles has led him around the globe. Following a career in corporate finance, he now helps others maximize the rewards they earn from their spending on credit cards.
Credit Cards Writer Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
Dylan Pearl Credit Cards EditorOver a decade of editorial experience across a number of publications and more than 60 countries visited have given Dylan Pearl a wealth of travel knowledge, and the tools to effectively communicate that knowledge to others. Dylan has made it his mis.
| Credit Cards Editor
Updated: May 8, 2024, 3:32pm
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.
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One of the most underrated perks of premium credit cards is the travel insurance they provide. The coverage can give you peace of mind in all sorts of situations, whether the airline has lost your bag or you’ve dented the door of your rental car. Among the premium cards, The Platinum Card® from American Express has some of the most comprehensive benefits.
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On American Express's WebsiteEarn 5 Membership Rewards Points per dollar on prepaid hotels booked with American Express Travel and on flights booked directly Read More
Earn 80,000 points
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Good,Excellent (700 - 749)
Editorial ReviewThe Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. In the right hands, the classic status card’s staggering annual fee is well justified.
Pros & ConsEarn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
The Amex Platinum provides travel insurance in four key areas—trip cancellation and interruption, trip delay, baggage insurance and rental car coverage.
Amex’s trip cancellation and trip interruption coverage¹ compensates nonrefundable expenses if you cannot travel or must change your plans unexpectedly during a trip. This could be useful if you fall ill just before your trip and cannot travel.
The list of reasons for cancellation or interruption is relatively specific and includes:
Amex will reimburse all eligible nonrefundable expenses in the case of trip cancellation for one of the reasons listed above. With a trip interruption, Amex will cover any nonrefundable transportation expenses and the cost of making new arrangements to rejoin your scheduled itinerary or return home. This cost is limited to an economy ticket on the most direct route.
Amex limits your ability to claim under this coverage to $10,000 per trip and $20,000 per eligible card per 12-month period. Coverage is secondary to other travel insurance you may have.
Trip delay coverage² provides reimbursement for additional expenses you incur when your trip is delayed by weather, equipment failure or a lost passport. Eligible expenses include accommodation, meals, medication and even extra toiletries.
Airlines are usually only responsible for compensating you when the reason for the delay is within their control—typically failures of personnel or equipment. Weather delays are often ineligible for any sort of compensation but would be covered by trip delay insurance if you needed to wait for a flight the next day. The Platinum Card offers coverage for a broader range of reasons but is secondary to any reimbursement provided to you by the airline.
It’s worth noting that Amex will only cover $500 in expenses per trip and only two claims in any 12-month period. This limit is likely adequate for most overnight stays in an airport hotel. But if you encounter a longer delay, you should consider purchasing additional insurance.
Many travelers have experience with airlines losing or damaging their luggage. The Amex Platinum Card provides insurance benefits to compensate you if you’re in this unfortunate situation.
The baggage insurance plan³ covers the replacement cost of your lost items, up to $2,000 for checked baggage and $3,000 for carry-on bags. High-risk items, which include jewelry, laptops and camera equipment, are covered up to $1,000. These limits are per person, and coverage extends to the cardholder’s spouse or domestic partner and dependent children under 23.
New York state residents have slightly different limits—$2,000 per bag (rather than per person) with a maximum limit of $10,000 per trip.
This insurance does not extend to cash or valuable documents or prescription items like eyeglasses, hearing aids and medication.
It is common to underestimate the replacement cost of personal property, and many travelers would be surprised at the replacement cost of their items. Especially with a laptop or camera, it is very easy to exceed the limits of this coverage. You may want to consider additional travel insurance for peace of mind.
The Amex Platinum Card provides several rewards and benefits for rental cars, including premium status with Avis, Hertz and National, and loss and damage insurance⁴. This insurance coverage protects you if your rental car is stolen or damaged, whether or not you’re at fault.
The coverage included with your Platinum Card is secondary coverage, meaning you must exhaust all other types of insurance before making a claim. It provides four main types of coverage:
There are several limitations and restrictions on coverage, including:
These restrictions are relatively minor and the typical cardholder’s rental will be covered. But for even more peace of mind, American Express offers Premium Car Rental Protection with higher limits and fewer restrictions. Perhaps most importantly, this product is primary, meaning you can file a claim immediately.
To receive trip cancellation, interruption or delay insurance through Amex, you must pay the entire trip cost with your Platinum Card. This can be done through a combination of cash and airline points, but the cash portion must be paid using your card. The same rules also apply to baggage insurance. Other than that, there’s nothing further you need to do to be eligible.
To make use of the rental car collision damage waiver, pay the full cost of the rental with your Amex Platinum Card, either in cash or using your stash of Membership Rewards points . When picking up the car, you must decline the rental car company’s collision damage waiver and any coverages for personal injury or property. Your Amex card will provide coverage for these instead.
Coverage is automatic when you follow the steps above. There is no need to inform Amex about your trip details in advance, unlike other types of travel insurance.
You must notify Amex promptly if you need to make a claim. You should do this as soon as reasonably possible, but in no event later than 30 days after the accident. Amex offers a convenient online claim portal where you can make a claim.
Also, note that American Express offers standalone travel insurance and rental car policies that can be purchased through its website. They typically offer higher limits and fewer exclusions than the coverage included with the Platinum Card. This can be useful if you want greater peace of mind or your planned trip falls into one of the exclusions described above.
The Platinum Card® from American Express offers extensive coverage for your travel with little upfront effort. Knowing what the card offers is the first step to using these benefits, which can be a lifesaver if your trip faces an unexpected snag.
Explore The Benefits Of The Platinum Card® from American Express.
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¹The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
²Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
³Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip.Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.
⁴Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
