Chase Sapphire Preferred vs. Chase Sapphire Reserve insurance benefits – Which is better? – The Points Guy

Trip cancellation and interruption insurance

Baggage delay insurance

Delayed luggage can happen to anyone. If you travel with even moderate frequency, you’ve probably experienced this a handful of times.

Baggage delay protection reimburses you for select necessities you purchase while you’re waiting for your checked bag. The delay must be caused by the common carrier (airline, cruise, train, etc.). Eligible purchases include:

• Toiletries.
• Clothing.
• Chargers for electronic devices.
• Essential items.

Again, the Chase Sapphire Preferred and Chase Sapphire Reserve offer the same protection here: $100 per day for up to five days. This insurance kicks in after a baggage delay of six hours or more. You and your immediate family are covered.

Note that this coverage is in excess of what’s provided by your carrier, and you must report the baggage delay to your carrier for the benefit to apply.

Lost luggage reimbursement

Lost luggage reimbursement can cover the cost to repair or replace items that are lost, damaged or stolen. Coverage applies to checked and carry-on baggage during a trip for which you used your card to pay at least part of the cost. Both cards have a maximum benefit of up to $3,000 per covered person per trip.

Note that both cards include a sub-limit of up to $500 for jewelry and watches and a $500 limit for cameras and electronic equipment. You should also be aware that coverage does not extend to items you accidentally forgot or left behind.

If your claim applies to checked luggage, you must report it to the common carrier within the carrier’s mandatory timeframe. For carry-on baggage, you must report the situation to the carrier as soon as you exit the plane, bus or ship.

Trip delay reimbursement

Trip delay insurance reimburses you for reasonable expenses resulting from an extended delay with a common carrier. The terms are a bit loose when defining “reasonable expenses,” but eligible purchases include:

• Meals.
• Lodging.
• Toiletries.
• Medication.

Here’s what each card offers:

• Chase Sapphire Preferred: Up to $500 per ticket (triggers after a 12-hour or overnight delay).
• Chase Sapphire Reserve: Up to $500 per ticket (triggers after a six-hour or overnight delay).

Purchase protection

Purchase protection covers you from theft, accidental damage or involuntary and accidental parting with your eligible purchase. Your item may be replaced or repaired if at least a portion of your purchase was charged using a card that offers this benefit — such as the Sapphire Reserve or Sapphire Preferred.

Here’s what each card offers:

• Chase Sapphire Preferred: Up to the cost of the item or up to $500 per claim, up to $50,000 per account (incident must occur within 120 days from the date of purchase).
• Chase Sapphire Reserve: Up to the cost of the item or up to $10,000 per claim, up to $50,000 per year (incident must occur within 120 days from the date of purchase).

You should also note there are items not eligible for coverage, which can be found in your benefits guide.

Extended warranty protection

Extended warranty protection lengthens the original warranty on eligible products. It does not augment the protection you get; it only extends the expiration of the coverage.

The extended warranty terms from both cards are the same: one additional year on eligible warranties of three years or less, up to a maximum of $10,000 per claim and $50,000 per account.

Certain purchase types are not covered, and you’ll need to either register your warranty or keep the original receipt and credit card statement showing the purchase. One of these is required for submitting a claim during the extended warranty period.

Primary rental car insurance

Credit card primary rental car insurance saves you from paying for the in-house insurance offered by the rental car agency.

This insurance, according to the benefit terms, covers you from “theft, damage, valid loss-of-use charges imposed and substantiated by the auto rental company, administrative fees and reasonable and customary towing charges (due to covered theft or damage) to the nearest qualified repair facility.” You can simply decline the rental agency’s CDW waiver and pay for your rental with your eligible card to enjoy these benefits.

Only rentals of 31 consecutive days or less qualify. Also, not all cars are covered. Examples of some that Chase refuses to cover are:

• High-value vehicles.
• Exotic and antique cars.
• Cargo vans, vehicles with open cargo beds or trucks other than pick-up trucks.
• Motorcycles, mopeds or motorbikes.
• Limousines.
• Recreational vehicles.
• Passenger vans with seating for more than nine people.

Both the Chase Sapphire Preferred and Chase Sapphire Reserve offer primary rental car insurance:

• Chase Sapphire Preferred: Up to the actual cash value of most rented cars.
• Chase Sapphire Reserve: Up to $75,000.

Note that this coverage in no way covers damage to property other than your rental car. If you crash into another car, Chase will not cover damage to the other party’s property. Coverage also does not apply to personal liability, loss of personal property in the vehicle or damage that occurred due to wreckless or off-road driving.

However, additional drivers listed on the rental are also covered under this protection.

Roadside assistance

If you experience problems while driving and need assistance like towing or someone to help you get into the car when you’re locked out, Sapphire cardholders can call for these services any time of day on any day of the year. However, the costs involved can be different.

• Chase Saphire Preferred: Cardholders will pay for services they receive, but the Roadside Dispatch program can help to coordinate services. Cardholders can call 800-847-2869; service is available in the U.S. only.
• Chase Sapphire Reserve: Events are covered to a maximum of $50 each, up to four events per year. Cardholders can only receive service for the same problem once during a seven-day period. Cardholders can call 866-860-7978 in the U.S. or Canada.

Travel accident insurance

Should something go wrong during your trip, travel accident insurance provides coverage for a range of accidental losses, including limb, sight, speech or hearing. This benefit can also cover accidental loss of life, paid out to your beneficiary.

• Chase Sapphire Preferred: Up to $500,000 for losses when traveling on a common carrier and up to $100,000 for 24-hour coverage.
• Chase Sapphire Reserve: Up to $1 million for losses when traveling on a common carrier and up to $100,000 for 24-hour coverage.

It’s worth noting that certain high-risk events are not covered. These include training as a pilot, committing any crime, participating in professional sports, racing a car or motorcycle, intentionally self-inflected injuries or parachuting. For trips lasting more than 30 days, coverage ends at 12:01 a.m. on the 31st day.

Sapphire Reserve-specific benefits

There are two additional travel-related benefits that are available on the Sapphire Reserve but not the Sapphire Preferred. These are the emergency evacuation and transportation benefit and the emergency medical and dental coverage.

Emergency evacuation and transportation coverage can cover up to $100,000 in expenses when you or an eligible family member becomes ill or injured during a trip and needs transportation to a suitable medical facility. Note that this benefit requires preapproval from the benefit administrator; otherwise, you will bear the costs of this transportation.

Sapphire Reserve cardholders also enjoy up to $2,500 in emergency medical or dental coverage when traveling. You may also qualify for up to $75 per day for up to five days toward the cost of a hotel room if you must spend more time recuperating after release from the hospital before you are able to travel home. There is a $50 deductible on the emergency medical and dental coverage.

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