ASB complimentary credit card travel insurance. How does it work?

If you’re planning a trip abroad then travel insurance should be on your list of things to do! It offers peace of mind and protection when away from home, helping to ensure you’re cared for and aren’t out of pocket if the unexpected happens.

Speaking of the unexpected, you may not know that your credit card actually comes with a form of travel insurance which may be more comprehensive than you’d expect.

In this article we’re going to delve into the ASB complementary credit card insurance, including who’s eligible, what’s covered and what to look out for.

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What is complimentary travel insurance with ASB credit cards

If you’re a Platinum Cardholder with ASB you can be eligible for complimentary ASB Visa Platinum Rewards Travel Insurance.¹ This insurance applies to overseas travel that departs from and returns to New Zealand, offering a level of protection if something unexpected happens while you’re abroad.

ASB credit cards with complimentary travel insurance

Currently, this policy is only available to holders of an ASB Visa Platinum Rewards credit card.¹

Who administers credit card travel insurance on behalf of ASB

While ASB offers the insurance, they aren’t the underwriters. Instead, the policy is underwritten and managed by AIG Insurance New Zealand Limited.¹

What are the main benefits of complimentary credit card insurance with ASB

Here are some of the main benefits of using your eligible ASB credit card to access the complimentary travel insurance.

• You don’t need to pay for a policy with another company if you’re eligible and satisfied with the level of coverage
• In the event of a medical emergency you may be covered to receive treatment while abroad and on your return
• If something unexpected interrupts or delays your trip there’s a level of protection or compensation you can be entitled to receive

Types of coverage offered by ASB credit card insurance

The travel insurance offered by ASB includes coverage for a number of different events which are outlined in their entirety in the current PDS.

Here’s a quick look at some of the main sections and the associated benefits.¹

Coverage	Maximum Benefit
Medical expenses	Unlimited (sub-limits apply)
Missed connection	$10,000 per person or family
Travel delay (12+ hours)	$400 per person up to $1000 per person $800 per family up to $5000 per family
Luggage delay (12+ hours)	$1000 per person $5000 per family
Luggage, money and replacement travel documents	$20,000 (sub-limits apply)
Rental vehicle excess cover	$3000 per person or family

As seen on 29 March 2024

What’s not covered under this complimentary travel insurance

Like most insurance policies, there are exclusions that can limit or void your coverage. These are a few of the general exclusions to know about which can apply to costs or losses that arise directly or indirectly.¹

• Pre-Existing conditions unless accepted in writing with an additional paid premium
• Being under the influence of alcohol
• People invited to your accommodation
• Snow skiing or snowboarding unless at a recognised commercial field
• Racing of any type unless on foot
• Failure to take precautions to avoid a claim after a warning not to travel was reported by the mass media or published by the New Zealand Ministry of Foreign Affairs

It’s worth checking the current PDS to see which exclusions would apply to you and your travel plans.

Eligibility for ASB credit card insurance

There are some eligibility criteria you need to meet to be covered by this travel insurance policy.¹

• You’re a current Platinum Cardholder when the cover is activated, travel commences, any claim event occurs and the time the claim is made
• Aged 75 years or younger when travel commences
• You usually reside in New Zealand

A spouse and dependent children can also be covered under this insurance provided their ticket purchases also activate coverage and they’re travelling with the Platinum Cardholder.

How to activate this insurance – is it automatic for ASB credit card holders?

To activate the policy you and any covered companions need to meet at least one of these criteria before leaving New Zealand, at which point you’re automatically covered.¹

• Paid 50% or more of the entire cost of the overseas return tickets to without your Platinum Card Account
• Paid for your overseas return flight using airline loyalty program points, with at least 50% of any remaining balance being paid using another method on this list
• Got a cash advance from your Platinum Card Account and that same day used the cash to pay for 50% or more of the entire cost of the overseas return tickets
• Used an ASB account in your name to pay for 50% or more of the entire cost of the overseas return tickets, with proof that the Platinum Card was not an acceptable payment method or an additional charge would be applied for using it
• You won the overseas return tickets in a prize draw or competition

If you want to confirm the policy is active you can check on the ASB website. It’s important to keep in mind that if you make a claim you will be asked to prove that your coverage was activated.

Making a claim with ASB complimentary travel insurance

With the ASB credit card travel insurance, any claims you make will be managed by AIG, the insurance underwriter.²

In the event of a medical emergency contact AIG Travel on +64 (4) 916 6312 for guidance as soon as possible after admission to hospital. If it’s non-emergent you can still call +64 (4) 916 6312 to consult a registered medical practitioner or gain advice on where to go for treatment.

For other claims that are being made either during or after the trip, head to the ASB Travel website for the claims procedures and forms.

A word on ASB credit card insurance and COVID-19

In the current PDS there’s no specific mention of COVID-19. As a result, your level of coverage would be dependent on the current status of COVID-19, and whether or not it’s being considered an endemic disease, meaning it’s present in the community but not out of control, or an epidemic or pandemic.

Additional things to keep in mind

Here’s a couple of other things to keep in mind when deciding if this complimentary policy is right for you.

Travel insurance excess

For the ASB credit card travel insurance policy there are some excesses that apply. One to be aware of is that you’re required to pay the first $200 of every claim made under Sections 1, 2 and 3 arising from the same event.¹

• Section 1: Medical and Evacuation Expenses
• Section 2: Cancellation and Changes To Planned Travel
• Section 3: Luggage, Money and Replacement Travel Documents

Business travel

If you’re heading off on a business trip it is highly likely this insurance won’t be valid, even if the trip is combined with leisure. That’s because if the company pays for the flights you wouldn’t have met the activation requirements for the policy.¹

Contacting ASB

If you have more questions here’s a few contact numbers you can use.

• Call AIG with general policy questions on 0800 660 141
• Send a message to ASB through FastNet Classic
• Call ASB on 0800 803 804 in New Zealand or +64 9 306 3000 with credit card related questions

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Sources:

1. ASB - ASB Visa Platinum Rewards Credit Card
2. ASB - How to make a claim on your credit card travel insurance

Sources checked on: 29 March 2024