Bank of New Zealand complimentary credit card travel insurance. How does it work?

Travelling overseas from New Zealand soon? Sounds like you’ll need to organise some travel insurance. Although it's not mandatory to have, it can be a lifesaver if you end up in some sticky situations abroad.

While there are a plethora of policy providers out there, you may not be aware that you could qualify for complimentary travel insurance through your credit card provider, especially if you bank with Bank of New Zealand or BNZ as it is more recognised.

💸 Hold over 40 currencies in your account and spend at the mid-market exchange rate with the Wise Debit card while abroad.

Learn more about the
Wise Account and card

What is complimentary travel insurance with BNZ credit cards

Complimentary travel insurance is offered as an included benefit to using a BNZ credit card.¹ Travel insurance is insurance coverage that covers you for a variety of unforeseen medical and travel issues when travelling either domestically or abroad. A caveat to travel insurance offered with a credit card is that you may not be automatically covered and must meet certain eligibility requirements to access the policy benefits.

BNZ credit cards with complimentary travel insurance

There are two BNZ credit cards that offer complimentary travel insurance including with different coverage time and trip type. The table below these below.²

Card type	Trip Coverage time	Coverage type
BNZ Advantage Visa Platinum credit card	Single trips up to 90 days	Personal trips only
BNZ Advantage Visa Business credit card	Single trips up to 35 days	Business trips only

This article will only focus on the benefits of the complimentary travel insurance that comes with the BNZ Advantage Visa Platinum credit card.

Who Administers credit card travel insurance on behalf of BNZ

BNZ does not administer their travel insurance. Instead it is provided by AIG Insurance New Zealand Limited in agreement with BNZ.¹

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

Some of the main benefits of complimentary credit card insurance with BNZ include³:

• Epidemic and pandemic coverage
• Overseas medical expenses
• Cancellations, delays or missed connections
• Luggage and personal items
• International and domestic rental car

You’ll also have access to AIG 24/7 travel assistance that can be contacted from anywhere from the world.

Types of coverage offered by BNZ credit card insurance

Here is a breakdown of what is covered by BNZ credit card travel insurance.¹

Coverage type	Excess required	Maximum payouts for under 75	Maximum payouts for over 75
Travel cancellation (before and after journey starting)	$200	Unlimited	$5,000 per person
Overseas medical expenses	$200	Unlimited	Not covered
Unexpected travel expenses	$200	Unlimited	$5,000 per person
Travel delays	No	$750 per person or $1000 per family	$750 per person or $1000 per family
Luggage, personal expenses and travel documents	$200	$10,000 per person or $20,000 per family	$10,000 per person or $20,000 per family
Overseas vehicle hire	$200	$5,000 per trip	$5,000 per trip
Loss of income (from injury)	$200	$1,000 for up to 3 months	Not covered
Accidental death	No	$100,000 for cardholder and $50,000 for accompanying spouse	$100,000 for cardholder and $50,000 for accompanying spouse
Missed connection	No	$2,000 per person	$2,000 per person
Personal liability	$200	$2,500,000 per person	$2,500,000 per person
Epidemic or pandemic medical or cancellation	$200	$350,000 for medical expenses $100,000 for cancellations	Not covered

As seen on 30 March 2024

Some coverage items in the above table have further sub policy items that fall within the ones listed. To check what else is covered and the payout limits, you should consult the policy document here. Those over the age of 75 are recommended to purchase additional insurance from BNZ to access coverage for policy items listed above not covered under the complimentary insurance.¹

What’s not covered under this complimentary travel insurance

Claims that arise from events that are not covered include but are not limited to¹:

• War
• Terrorist attack
• A cyber event
• A riot or civil commotion
• Where losses can be personally recovered
• Loss of enjoyment
• Professional or Hazardous sporting activities
• Deliberate exposure to danger
• An unapproved pre-existing medical condition
• Travelling against medical advice
• Illegal conduct
• Business expenses

Check the policy for all exclusions before you decide to travel.

Eligibility for BNZ credit card insurance

To access BNZ credit card insurance, you need to meet the following eligibility requirements¹:

• Are a permanent resident of New Zealand
• Use either credit card to pay for any upcoming pre-paid travel costs such as return flights, accommodation or tours
• You already have the return travel ticket booked before you leave New Zealand
• Your trip abroad is no longer than 90 days for Platinum card holders or 35 days for Business card holders
• The cardholder is no older than 90 years of age at time of travel departure

BNZ complimentary travel insurance with your Platinum Visa Card can only be used for personal trips and will not cover business trips abroad. The eligible cardholders' spouse or children are also covered when all criteria are met.

How to access this insurance – is it automatic for BNZ credit card holders

As mentioned, just having an eligible BNZ credit card does not mean you have automatic access to the complimentary travel insurance. Before travelling, BNZ recommends checking what you are covered for and requesting an email confirmation of the policy to take with you.¹

Making a claim with BNZ complimentary travel insurance

To submit a claim, you can do this in three ways including⁴:

1. Through the online AIG Claims Portal
2. By downloading the claims forms and emailing them to AIG
3. Posting the downloaded forms to AIG

If you go through the claims portal, you’ll need to input the last 6 digits of your BNZ credit card and complete the form with your details.⁵ You should also provide where required for the claim⁴:

• BNZ account details
• BNZ account statements
• Copy of your trip itinerary
• Original receipts
• Emails
• Proof of insurance
• Proof of ownership for items
• Police reports
• Medical reports
• Letter from airline or travel agent
• Rental vehicle agreement

Having all these documents ready ahead of time, and in good conditions can help make the claims process go through more seamlessly. The claims portal is available 24 hours a day to lodge and update any details related to a travel claim.

A word on BNZ credit card insurance and COVID-19

If you're eligible to be covered by BNZ credit card insurance, you can be covered for some expenses if you catch COVID-19 either before or during your trip. This includes cancellation costs of up to $100,000 before or during and $350,000 for medical expenses. This extends to your accompanying spouse or children.⁶

Additional things to keep in mind

BNZ complimentary travel insurance does not cover individuals who travel to certain destinations including¹:

• Cuba
• Iran
• Syria
• North Korea
• Crimea region

Claims will also not be covered if the payouts can connect BNZ or AIG to a country or individual that have international sanctions imposed on them. For extended trips, extra cover for items or if you want to participate in certain sporting activities, you can upgrade your policy by contacting BNZ.¹

Contacting BNZ

If you need to contact BNZ for help with your credit card or to talk about the complimentary travel insurance, you can call the BNZ travel team on 0800 269 872.

Travel with Wise

With a Wise Account you can hold money in over 40 currencies and spend it in over 160 countries. Whenever you exchange currencies it’s done using the mid-market rate with a low conversion fee shown upfront.

To make everyday spending easier you can order a Wise Debit card for your Wise Account and generate virtual cards as needed. If you have the local currency in your Wise Account the Wise card will use it and charge no fees. If you don’t, it uses smart technology to auto-convert your money at the mid-market rate, for a low conversion fee.

Join over 16 million customers currently using Wise. It’ll only take a few minutes to register and see what’s inside.

Register your Wise account
in minutes

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up-to-date pricing and fee information.

---

Sources:

1. BNZ insurance terms and condition
2. BNZ Travel insurance activate
3. BNZ benefits
4. BNZ Claims
5. BNZ form
6. BNZ COVID insurance

Sources checked on: 30 March 2024