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The Capital One Venture Rewards Credit Card remains one of the best travel rewards credit cards in the world. Even though this card has existed for many years, its relatively recent (and seemingly meteoric) rise to the top of the rankings has been attributed to Capital One Miles’ new transfer partnerships with airlines and hotels.
In the past, the Capital One Venture card’s rewards could only be used for a fixed value for redemptions, such as statement credits and gift cards. Now, the card has the ability to help its cardholders achieve outsized value. It also has an impressive earning structure (especially if you’re into simplified rewards instead of bonus categories), a series of neat benefits, and, of course, travel insurance.
The Capital One Venture card offers great travel insurance, especially at its price point. In this guide, we’ll walk you through all of the travel insurance benefits offered by the Capital One Venture card.
Let’s get into it!
Travel insurance is just one suite of benefits offered by the Capital One Venture card. Before we dive deep into this card’s travel insurance coverage, let’s touch on the other reasons why you’d want this card in your wallet.
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
The Capital One Venture Rewards Credit Card is one of the most popular rewards cards on the market. It’s perfect for anyone in search of a great welcome offer, high rewards rates, and flexible redemption options.
Frequent travelers with excellent credit may benefit from this credit card that offers a lot of bells and whistles. And it offers easy-to-understand rewards earning and redemption.
Capital One Miles
Travel insurance offered by your credit card is one of the most important ways you can protect yourself against unforeseen incidents, accidents, or other inconveniences while traveling.
Most of the travel insurance coverage that comes with the Capital One Venture card is due to its status as a World Elite Mastercard. While we’ve summarized the highlights of what to expect, the exact benefits you’re entitled to can be found in the Capital One World Elite Mastercard Guide to Benefits. Make sure to check the full guide for the detailed terms and conditions.
The Capital One Venture card provides an auto rental collision damage waiver as a benefit for covered trips. As long as you decline the car rental agency’s collision damage coverage and use your card to pay for the rental, you receive:
There are a few requirements for this to kick in:
The benefit provides reimbursement for up to the value of the vehicle, but there are a few exclusions:
Hot Tip: Remember, rental car insurance from credit cards does not offer liability coverage at all. That means that if you are deemed at fault for the incident, you are 100% liable for charges.
To get coverage, you need to put the entire car rental transaction on your Capital One Venture card and decline the rental company’s collision damage waiver. After that, you’re good to go!
Covered losses include:
Here are some examples of exclusions:
To file an auto rental collision damage waiver claim, follow these steps:
Losing luggage while traveling seems to be every traveler’s worst nightmare. While lost luggage reimbursement doesn’t make up for the inconvenience of having to replace clothes and toiletries in the event of a loss, it should soften the emotional and monetary blow.
With the Capital One Venture card, you can get lost or damaged luggage insurance. To qualify, you must pay for the entire cost of your plane ticket using your card and report the loss to the airline first.
You and your immediate family members, which include your spouse and legal dependent children under age 18 (or under age 25 if enrolled as a full-time student at an accredited institution) are covered.
Currently, you are covered for up to $1,500 per incident. You are limited to a maximum of 2 claims per 12-month period, and this coverage is supplemental to any existing baggage insurance or reimbursement you may have from another source.
So if you lose $1,500 worth of luggage on an American Airlines flight and the carrier reimburses you for $500, you could be eligible for the difference through this benefit, which would be $1,000.
To file a claim for lost luggage reimbursement, you must:
The Capital One Venture card offers a roadside dispatch service, which is a 24/7, pay-per-use program for roadside assistance.
Although the roadside dispatch service that comes with the Capital One Venture card is not complimentary, it may still come in handy because fees for many services (such as jump-starts, towing, gas delivery, and tire changes) are prenegotiated and billed directly to your Venture card.
All you need to do is call 877-288-6784 to make a service call.
The last thing you want to happen is for you or a loved one to be involved in a serious or life-threatening incident.
The Capital One Venture card offers travel accident insurance, which could cover you, your spouse or domestic partner, and dependent children for up to $1 million if there’s an accidental loss of life, limb, sight, speech, or hearing while traveling on a common carrier.
To get this insurance, you need to put the entire cost of the fare onto your Capital One Venture card. Note that terms, conditions, and exclusions apply. Refer to the guide to benefits for more details. Travel accident insurance is not guaranteed; it depends on the level of benefits you get at the time of application.
If you ever need to file a claim, follow these instructions:
It’s impossible to predict what will happen while you’re traveling, especially if you’re visiting a place you’ve never been before.
To help combat this uncertainty, the Capital One Venture card offers certain travel and emergency assistance services, which are available 24/7, 365 days per year.
These services are offered to you, your spouse or domestic partner, and dependent children and are for assistance and referral only, which come at no additional charge. However, you are responsible for any other services provided, including medical, legal, transportation, or cash advance services.
To use the travel and emergency assistance benefits, call 877-288-6784.
Examples of services include:
Normally, foreign transaction fees on most credit cards are in the ballpark of 3%. But if you hold the Capital One Venture card, you won’t be hit with any foreign transaction fees at all (rates & fees).
So if you spent $1,000 on purchases while traveling abroad, you’d save $30 in fees.
Now that we’ve highlighted all of the Capital One Venture card’s travel insurance coverages in detail, let’s take a look at how it fares relative to other options.
We’ll start with other credit cards. After that, we’ll touch on travel insurance policies that are purchased outright.
Different credit card issuers like Chase and American Express offer unique sets of travel protections and benefits.
In this section, we’ll examine what other issuers offer. We’ll do our best to compare credit cards in the same tier as the Capital One Venture card.
The Chase Sapphire Preferred^® Card is the card that draws the most comparisons with the Capital One Venture card.
The Chase Sapphire Preferred card offers better travel insurance benefits than the Capital One Venture card. To be specific, it offers:
Although Amex doesn’t necessarily offer a card in the same tier, some compare the Capital One Venture card to the American Express^® Gold Card. For a full breakdown of coverage by card, explore our Amex travel insurance benefits in-depth guide.
Because the Capital One Venture card doesn’t offer trip delay insurance, we give a slight edge to American Express cards.
The Capital One Venture card’s travel insurance benefits pale in comparison to the Capital One Venture X Rewards Credit Card.
The Capital One Venture X card is a Visa Infinite card, so it offers a variety of other travel protections, such as:
That said, the Capital One Venture X card also has a higher annual fee, so keep that in mind.
Citi credit cards generally don’t offer anything in the way of travel insurance, so the Capital One Venture card is significantly better.
Similar to Citi, Bank of America’s main cards for travel rewards generally don’t offer travel insurance or protections.
Travel insurance from your credit card will never be a full replacement for a comprehensive travel insurance policy, full stop.
That said, comprehensive travel insurance policies are often much pricier than you think (even though it can be worth it in an era of increasingly uncertain travel).
For example, if you have a $10,000 tour, it may cost $1,000 in travel insurance to fully cover that expense with a comprehensive travel insurance policy.
The best way to decide whether or not you want to purchase a separate travel insurance policy is to read through the benefits guide of your Capital One Venture card closely. Depending on your risk appetite or tolerance, you might find it unnecessary to buy a travel insurance policy.
The Capital One Venture card offers a variety of travel protections to its cardholders. Thanks to this card, you can travel with significant peace of mind if something goes awry while traveling.
Remember that having travel insurance doesn’t guarantee you’ll get reimbursed when anything happens — you need to confirm that the event that occurred is eligible for coverage. You also need to follow the appropriate procedures at all times, including notifying your benefit administrator of all incidents in a timely fashion.
Overall, the Capital One Venture card provides decent travel insurance, but this will not replace a comprehensive travel insurance policy.
For the trip delay insurance benefit of the American Express^® Gold Card, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
For Capital One products listed on this page, some of the benefits may be provided by Visa^® or Mastercard^® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
For rates and fees of the American Express^® Gold Card, click here.
Yes! The Capital One Venture card has terrific travel insurance benefits, including lost or damaged luggage insurance, travel accident insurance, and a secondary auto rental collision damage waiver.
Yes! The Capital One Venture card offers up to $1,500 in lost or damaged luggage insurance per covered trip. This also includes checked bags and carry-on bags.
The Capital One Venture card earns up to 5x miles on purchases and offers a $100 Global Entry/TSA PreCheck application fee credit, Hertz Five Star status, excellent travel insurance including an auto rental collision damage waiver, no foreign transaction fees, and fee-free authorized users (rates & fees).
The Capital One Venture card earns Capital One Venture miles, which are a valuable rewards currency. You’ll earn 2 Venture miles for every dollar spent on most purchases. You can use the Venture miles you earn to book travel directly, or you can transfer them to Capital One’s hotel and airline transfer partners for even more options
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