American Express - insurance benefits

YummyPancake

I was offered Insurance benefits at no extra charge.  When I am applying for the American Express everyday card.

is this really free or I would be silly not to take it?

thanks

Marchitiello

YummyPancake said:

I was offered Insurance benefits at no extra charge.  When I am applying for the American Express everyday card.

is this really free or I would be silly not to take it?

thanks

What type of insurance is it? 

I have a purchase insurance on my BAPP and a full travel insurance on The Platinum card (MR points/fee paying version).

DullGreyGuy

YummyPancake said:

I was offered Insurance benefits at no extra charge.  When I am applying for the American Express everyday card.

is this really free or I would be silly not to take it?

thanks

Assuming its the Purchase and Refund Protection then it is "free" and its up to you if you want something thats free or not

YummyPancake

DullGreyGuy said:

YummyPancake said:

I was offered Insurance benefits at no extra charge.  When I am applying for the American Express everyday card.

is this really free or I would be silly not to take it?

thanks

Assuming its the Purchase and Refund Protection then it is "free" and its up to you if you want something thats free or not

I cannot find out the type of insurance, it simply says’insurance benefits’.  Hoping someone who has recently applied would know.

WillPS

If you have the Platinum Cashback Everyday card, the insurance in question is 'Purchase and Refund Protection'.

UK_Plat_Gold_Blue_Express_Rewards_Credit_Insurance_Documentation_v1_0.pdf (aexp-static.com)

The refund element is fairly useless because Amex are duty bound to cover you if the retailer refuses a return.

The purchase element is worth knowing about - 90 days theft and accidental damage cover on brand new items under £2000.

In any case, there is no downside to accepting the insurance as far I can see, unless you have another insurance policy which this would affect (unlikely).

DullGreyGuy

WillPS said:

In any case, there is no downside to accepting the insurance as far I can see, unless you have another insurance policy which this would affect (unlikely).

Many people will have home insurance that will cover this, last time I looked the AmEx insurance only responds if you have no other insurance that would so if you do have Home you cant use this to avoid making a claim on your home cover (though technically it will depend on what your home insurance says about other insurance)