Edited by: Keri Stooksbury
& Kellie Jez
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The Capital One Venture Rewards Credit Card remains one of the best travel rewards credit cards in the world. Even though this card has existed for many years, its relatively recent yet seemingly meteoric rise to the top of the rankings has been attributed to Capital One Miles’ new transfer partnerships with airlines and hotels.
In the past, the Capital One Venture card’s rewards could only be used for a fixed value for redemptions, such as statement credits and gift cards. Now, the card has the ability to help its cardholders achieve outsized value — it also has an impressive earning structure (especially if you’re into simplified rewards instead of bonus categories), a series of neat benefits, and, of course, travel insurance.
The Capital One Venture card offers great travel insurance, especially at its price point. In this guide, we’ll walk you through all of the travel insurance benefits offered by the Capital One Venture card.
Let’s get into it!
Travel insurance is just one of the suites of benefits offered by the Capital One Venture card. Before we dive deep into this card’s travel insurance coverage, let’s touch on the other reasons why you’d want this card in your wallet.
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
The Capital One Venture Rewards Credit Card is one of the most popular rewards cards on the market. It’s perfect for anyone in search of a great welcome offer, high rewards rates, and flexible redemption options.
Frequent travelers with excellent credit may benefit from this credit card that offers a lot of bells and whistles. And it offers easy-to-understand rewards earning and redemption.
Travel insurance offered by your credit card is one of the most important ways you can protect yourself against unforeseen incidents, accidents, or other inconveniences while traveling.
The Capital One Venture card happens to be a Visa Signature card, and Capital One tends to offer the same types of travel insurance coverage regardless of which specific Visa Signature card you hold.
Here’s what to expect.
The Capital One Venture card provides rental car insurance as a benefit for covered trips. As long as you decline the car rental agency’s collision damage coverage and use your card to pay for the rental, you’ll receive:
There are a few requirements for this to kick in:
The benefit provides reimbursement for up to the value of the vehicle, but there are a few exclusions:
Hot Tip: Remember, rental car insurance from credit cards does not offer liability coverage at all. That means if you are deemed at fault for the incident, you will be 100% liable for charges.
To get coverage, you need to put the entire car rental transaction on your Capital One Venture card and decline the rental company’s collision damage waiver. After that, you’re good to go!
Covered losses include:
Here are some examples of exclusions:
To file an auto rental collision damage waiver claim, follow these steps:
Losing your luggage while traveling seems to be every traveler’s worst nightmare nowadays. And while lost luggage reimbursement doesn’t make up for the inconvenience of having to replace your clothes and toiletries in the event of a loss, it should soften the emotional and monetary blow.
With the Capital One Venture card, you can get lost luggage reimbursement. To qualify, you must pay for the entire cost of your plane ticket using your card and report the loss to the airline first.
You and your immediate family members, which include your spouse and legal dependent children under age 18 (or under age 25 if enrolled as a full-time student at an accredited institution) are covered.
Currently, you are covered for up to $3,000 per trip, per person. In New York, the coverage is limited to $2,000 per bag. This coverage is supplemental to any existing baggage insurance or reimbursement you may have from another source.
So if you lose $2,500 worth of luggage on an American Airlines flight and American Airlines reimburses you for $1,000, you could be eligible for the difference through this benefit, which would be $1,500.
To file a claim for lost luggage reimbursement, you’ll want to:
The Capital One Venture card offers Roadside Dispatch, which is a 24/7, pay-per-use program for roadside assistance.
You’ll pay a set price of $69.95 per service call, which includes:
All you need to do is call 800-847-2869 to make a service call!
The last thing you want to happen is for yourself or a loved one to be involved in a serious or life-threatening incident.
The Capital One Venture card offers travel accident insurance, which could cover you for up to $250,000 if there’s an accidental loss of life, limb, sight, speech, or hearing while flying on a common carrier.
To get this insurance, you’ll need to put the entire cost of the fare onto your Capital One Venture card. Note that terms, conditions, and exclusions apply. Refer to your Guide to Benefits for more details. Travel Accident Insurance is not guaranteed, it depends on the level of benefits you get at application
If you ever need to file a claim, you’ll want to follow these instructions:
It’s impossible to predict what will happen while you’re traveling, especially if you’re visiting a place you’ve never been before.
To help combat this uncertainty, the Capital One Venture card offers travel and emergency assistance services, which are available 24/7, 365 days per year.
These are offered to you, your spouse, and dependent children under the age of 22 years old.
These services are for assistance and referral only, which come at no additional charge. However, you will be responsible for any other services provided, including medical, legal, transportation, or cash advance services.
To use the travel and emergency assistance benefits, just call 800-397-9010 or 303-967-1093 if you’re outside the U.S.
Examples of services include:
Normally, foreign transaction fees on most credit cards are in the ballpark of 3%. But if you hold the Capital One Venture card, you won’t be hit with any foreign transaction fees at all (rates & fees).
So if you spend $1,000 on purchases while traveling abroad, you’d save $30 in fees!
Now that we’ve highlighted all of the Capital One Venture card’s travel insurance coverages in detail, let’s take a look at how it fares relative to other options.
We’ll start with other credit cards; after that, we’ll touch on travel insurance policies that are purchased outright.
Different credit card issuers like Chase and American Express offer unique sets of travel protections and benefits.
In this section, we’ll examine what other issuers offer. We’ll do our best to compare credit cards in the same tier as the Capital One Venture card.
The Chase Sapphire Preferred® Card is the card that draws the most comparisons with the Capital One Venture card.
The Chase Sapphire Preferred card happens to offer elevated travel insurance benefits compared to the Capital One Venture card. To be specific, it offers:
Although Amex doesn’t necessarily offer a card in the same tier, some compare the Capital One Venture card with the American Express® Gold Card.
For a full breakdown of coverage by card, explore our Amex travel insurance benefits in-depth guide.
Because the Capital One Venture card doesn’t offer trip delay insurance, we give the slight edge to American Express cards.
The Capital One Venture card’s travel insurance benefits pale in comparison to the Capital One Venture X Rewards Credit Card.
That being said, the Capital One Venture X card also comes with a higher annual fee, so keep that in mind.
Citi credit cards generally don’t offer anything in the way of travel insurance, so the Capital One Venture card is significantly better.
Similar to Citi, Bank of America’s main cards for travel rewards generally don’t offer travel insurance or protections.
Travel insurance from your credit card will never be a full replacement for a comprehensive travel insurance policy, full stop.
That said, comprehensive travel insurance policies are often much pricier than you think (even though it can be worth it in an era of increasingly uncertain travel).
For example, if you have a $10,000 tour, it may cost $1,000 in travel insurance to fully cover that expense with a comprehensive travel insurance policy.
The best way to decide whether or not you want to purchase a separate travel insurance policy is to read through the benefits guide of your Capital One Venture card closely.
Depending on your risk appetite or tolerance, you might find it unnecessary to buy a travel insurance policy.
The Capital One Venture card offers a variety of travel protections to its cardholders. Thanks to this card, you can travel with significant peace of mind if something goes awry while traveling.
Remember that having travel insurance doesn’t guarantee you’ll get reimbursed when anything happens — you’ll need to confirm that the event that occurred is eligible for coverage. You’ll also need to follow the appropriate procedures at all times, including notifying your Benefit Administrator of all incidents in a timely fashion.
Overall, the Capital One Venture card provides decent travel insurance, but this will not replace a comprehensive travel insurance policy.
The information regarding the Capital One Venture Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
The information regarding the Capital One Venture X Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.
For rates and fees of the American Express® Gold Card, click here.
Yes! The Capital One Venture card has terrific travel insurance benefits, including trip interruption and cancellation coverage, baggage insurance, travel accident insurance, and secondary rental car insurance.
Yes! The Capital One Venture card offers up to $3,000 in lost or stolen luggage insurance per covered trip. This also includes checked bags and carry-on bags.
Right now, the Capital One Venture card offers 2 complimentary visits to Capital One Lounges or Plaza Premium Lounges every year. The Capital One Venture X card offers unlimited lounge access to Capital One Lounges, Plaza Premium Lounges, and a complimentary Priority Pass Select membership.
The Capital One Venture card earns up to 5x miles on purchases and offers a $100 Global Entry/TSA PreCheck application fee credit, 2 free visits to Capital One Lounges and Plaza Premium Lounges every year, Hertz Five Star status, excellent travel insurance including rental car coverage, no foreign transaction fees, and fee-free authorized users.
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