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  • FIRST POST
    • MSE Guy
    • By MSE Guy 14th Sep 10, 5:38 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    0 WOW
    MSE News: Sainsbury's 5 worldwide family travel insurance loophole
    • #1
    • 14th Sep 10, 5:38 PM
    0 WOW
    MSE News: Sainsbury's 5 worldwide family travel insurance loophole 14th Sep 10 at 5:38 PM
    This is the discussion thread for the following MSE News Story:

    "A new fee-charging credit card offers travel cover, yet you could ditch the plastic once you return from holiday ..."

Page 1
    • gt94sss2
    • By gt94sss2 14th Sep 10, 8:00 PM
    • 4,304 Posts
    • 2,034 Thanks
    gt94sss2
    • #2
    • 14th Sep 10, 8:00 PM
    • #2
    • 14th Sep 10, 8:00 PM
    Its not really a loophole though - most card/bank account insurances work similar to the way you describe.

    This means if you plan in advance, you could grab the card before you go on holiday so you're flly covered, then cancel when you get back unless you need to make a claim. If you time it right, you may only have the card for a month, thus slamming down the cost.
    Of course, if you do this a few times, it can really mess up your credit record..

    Regards
    Sunil
  • Former MSE Dan
    • #3
    • 15th Sep 10, 9:00 AM
    • #3
    • 15th Sep 10, 9:00 AM
    Hi Sunil,

    Yep, that's why we say

    To get the Sainsbury's card, you must pass a credit score. Don't apply if you'll need cheap credit to cut the cost of debts in the near future, or have recently been turned down by other card providers.
    Cheers
    • lord donothing
    • By lord donothing 15th Sep 10, 10:10 AM
    • 8 Posts
    • 1 Thanks
    lord donothing
    • #4
    • 15th Sep 10, 10:10 AM
    • #4
    • 15th Sep 10, 10:10 AM
    what about existing medical conditions, most oldies have something wrong
  • Mk14:37
    • #5
    • 15th Sep 10, 10:56 AM
    • #5
    • 15th Sep 10, 10:56 AM
    Sainsbury's has confirmed the travel insurance kicks in immediately and there is no minimum time you must hold the plastic for.
    by Original Article
    Lord Donothing has a valid concern, I was concerned on reading this that it could be slightly misleading - i.e. you will not be covered for issues already known at the time of purchase.

    That is to say, if were due to go on holiday next month and have heard that there will be issues due to ash clouds / crew strikes / co-pilots being made redundant by arrogant, cost-shaving CEOs, you can take out a policy today and be covered immediately, but NOT for the existing issue.
    • Voyager2002
    • By Voyager2002 15th Sep 10, 11:01 AM
    • 13,308 Posts
    • 9,167 Thanks
    Voyager2002
    • #6
    • 15th Sep 10, 11:01 AM
    • #6
    • 15th Sep 10, 11:01 AM
    The article contains some potentially dangerous advice: it suggests that you could hold the card for as little as just a month, and then cancel if you don't need to claim. However, most people book their holidays months in advance, and so need cancellation cover from the time of booking. Anyone who relies on this card, and tries to "time it right" so that cover begins just before the holiday, will lose out on cancellation insurance, and so if anything goes wrong they might lose the total cost of their holiday!

    A better approach would be to think of this card as offering a reasonably-priced annual travel insurance policy, along with some attractive extra benefits.
  • Former MSE Dan
    • #7
    • 15th Sep 10, 12:59 PM
    • #7
    • 15th Sep 10, 12:59 PM
    Thanks voyager, have made that point clearer in the article
  • tbrown10
    • #8
    • 15th Sep 10, 2:04 PM
    • #8
    • 15th Sep 10, 2:04 PM
    what about existing medical conditions, most oldies have something wrong
    Originally posted by lord donothing
    I just called them and they quoted a one off payment of 12 (for the year) on top of the 5 per month to cover my Type 2 Diabetes. Good deal if you ask me
    • richardw
    • By richardw 15th Sep 10, 2:40 PM
    • 19,058 Posts
    • 8,044 Thanks
    richardw
    • #9
    • 15th Sep 10, 2:40 PM
    • #9
    • 15th Sep 10, 2:40 PM
    FH Brit has made some excellent postings regarding travel insurance http://forums.moneysavingexpert.com/search.php?searchid=88597097
  • imustbeperfect
    What about the 60 annual fee?
    So, it must cost at least 60 even if you hold the card for a month, go on holiday then cancel the card. 60 for travel insurance of less than a month is not cheap to me?
  • Harry2000
    Trips must be booked on Sainsbury's credit card

    Just phoned Sainsbury as I have a trip booked in October and thought this was great for travel insurance. You need to be aware, as I have just been told, that your trip needs to be booked with the Sainsbury credit card for it to be valid under the insurance, as wel as any future booking, they have to be paid by the Sainsbury's card. This is not the best deal if you have already booked any trips.
  • Former MSE Dan
    So, it must cost at least 60 even if you hold the card for a month, go on holiday then cancel the card. 60 for travel insurance of less than a month is not cheap to me?
    Originally posted by imustbeperfect
    Hi,

    Luckily this isn't an issue as, as the article explains, you only pay the fee 5 each month, so you don't pay 60 upfront.

    Dan
    • hollydays
    • By hollydays 20th Sep 10, 4:02 PM
    • 17,722 Posts
    • 13,830 Thanks
    hollydays
    OH just applied for this,don't normally get asked but we have been asked for proof of i/d to be sent to them,and as i was going away soon,it will take too long.His credit rating is fine but it may be to do with house move/bank change
  • Former MSE Dan
    Trips must be booked on Sainsbury's credit card

    Just phoned Sainsbury as I have a trip booked in October and thought this was great for travel insurance. You need to be aware, as I have just been told, that your trip needs to be booked with the Sainsbury credit card for it to be valid under the insurance, as wel as any future booking, they have to be paid by the Sainsbury's card. This is not the best deal if you have already booked any trips.
    Originally posted by Harry2000
    Hi Harry,

    This is interesting - I have spoken to Sainburys and they have doublechecked and confirmed that this is NOT the case. Also there is no mention made of it in any of the product literature.

    Might be interesting to give them a call back and ask again, as we now have 100% confirmation from the Sainsburys team that this info is wrong

    Cheers for highlighting it - they said they would investigate too

    Dan
  • sgonzalez
    Does anyone know if they provide you with a proper policy document/certificate of insurance once you get the card as I'm travelling to Cuba and proof of insurance has to be shown at the airport and I doubt they'd take a generic document.

    Thanks
    • bazza1603
    • By bazza1603 31st Jan 11, 7:36 PM
    • 582 Posts
    • 129 Thanks
    bazza1603
    Hi,

    HAs anyone applied for this card and got the paperwork?

    Trying to find out what the excess would be for 2 adults and 2 children on the independant traveller section

    Thanks

    Barry
    Last edited by bazza1603; 31-01-2011 at 7:38 PM.
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