Unfortunately, it is not news to anyone that violence in big cities has grown alarmingly. Precisely for this reason, insurance has become part of the Brazilian’s life and consumes a significant portion of his income. We are looking for life insurance, vehicle insurance, home insurance and now even credit cards. But is it worth it to get credit card insurance? Follow this post and discover its advantages and disadvantages:
The insurance paid on the credit or debit card hardly exceeds $ 5.00 per month, which, per year, would not even reach $ 60.00. This value is considerably small given the headaches you could avoid if you had your card stolen.
Some carriers allow improper purchases not to be charged to the cardholder even a few days before the date of the notification, and the same holds true in case of card loss. They cover all amounts that are spent until the card is locked. But beware: anyone who has the habit of leaving the password noted along with the card loses the right to insurance coverage.
Some carriers also offer protection for purchases made over the internet, others do not. Therefore, always check with your administrator which coverage is available and which events are not covered.
Customers with many cards
If you are the type of person who has multiple cards but only uses one or two, you may be wasting money. Ideally, you should have just enough cards to make routine purchases and have a limit available to install purchases when needed. Other than that, having too many cards increases the risk of loss or theft and ends up generating annuity and insurance expenses that will never be used.
This can also make it difficult to keep track of your spending. The idea of the card is to centralize all purchases in one place and to identify where your biggest expenses are, in order to make a financial management.
Avoid going out with all your cards at once. It’s always good to leave a spare at home. So if one of them is lost, you can use the reserve while waiting for the duplicate of the other.
Insurance usually offers a number of other benefits that are not just limited to loss and theft. Some offer accident compensation, travel cover, lost document and luggage coverage, airport lounge reservations, emergency accommodation etc. There is even insurance that covers theft of portable objects such as cell phones and other devices.
The downside is that a lot of people don’t even know that insurance offers it all, and sometimes it doesn’t take advantage of it when it needs it. Because it is such a small amount discounted on the invoice, some forget to read the prospectus and do not write down emergency phones.
But that won’t happen to you anymore: From now on, leave these numbers on your mobile phone or some other easily accessible place and check what coverage and services are offered to you. When in doubt, call the service center and ask an attendant to explain the benefits to which you are entitled.