Have you ever heard of the purchase insurance that your credit card can offer you? Not yet? Then you’ve come to the right place! We will tell you exactly what this means, how you can use it and which credit cards this offers.
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What is a purchase insurance?
First, let’s start with the meaning of purchase insurance. The name says it all: your purchases are insured. There are different types of insurance that your credit card can offer when shopping, but we are only talking about purchase insurance. This offers protection against damage, theft or loss for certain purchases in the store or online, in Belgium or abroad. This for a certain number of days (typically 120 or 200 days), which differs per credit card.
When your product is stolen, you will be refunded the purchase amount to your account. If your product is damaged, your purchases will be repaired or replaced.
What kind of purchases does this insurance cover?
It differs from credit card to credit card which products your purchase insurance covers. For example, with the American Express mobile phones are covered, unlike other banks. In most cases, the following products are not covered:
- Living animals
- Cash, foreign exchange
- Traveler’s checks, tickets
- New or used vehicles
- Second-hand goods
- Goods for sale
- Portable telephones
How can I use the purchase insurance of my credit card?
If you want to use the purchase insurance with your credit card, you can complete a claim form on your bank’s website. Pay attention, because it varies per bank how many days after the claim or theft you have to report this. In addition, in most cases you must also report theft to the local police. If in doubt, take a look at your bank’s website, contact them or visit the bank branch.
Does this all sound good to you and would you like a credit card with purchase insurance? Then don’t hesitate to use our comparison tool, which gives you an overview of all insurance credit cards. You can compare all financial institutions to get more information about them.
Which credit cards offer this?
There are several credit cards in Belgium that offer purchase insurance. On the other hand, it differs per credit card how many days you can enjoy your purchase insurance, how high the amount may be per claim, how much the damage may be per year and what the minimum purchase amount of the good must be.
We give you an overview of the credit cards where you can enjoy secure purchases in the store for at least 120 days. See below an overview of the credit cards with the highest maximum amounts per claim / calendar year.