Travel and Insurance Benefits of the Chase Sapphire Preferred®

The Chase Sapphire Preferred (or CSP) is widely regarded as one of the top travel rewards cards available today — thanks to its benefits, earning potential, and travel-related perks. Whether you're a frequent traveler or someone who enjoys the occasional getaway, this card offers a variety of features that can make your travel experience smoother, safer, and more rewarding. This post will give a brief review of the travel and insurance benefits that make the Sapphire Preferred a must-have for us adventurers.

1. Travel Rewards & Earning Potential

Before we dive into the insurance benefits, let’s first discuss the travel rewards component. The Chase Sapphire Preferred offers excellent earning rates, ensuring that you accumulate points quickly for future travel. If you approach this at a slower rate, this is a great card to load your expenses onto because this card’s points transfers to travel partners.

• 2X points on travel and dining: This includes things like airfare, hotels, taxis, public transportation, and restaurants. The ability to earn 2X points on travel and dining helps accelerate your point accumulation, making it easier to redeem for future flights, hotel stays, car rentals, and more.

• 1X point on all other purchases: Even for non-travel-related expenses, you’ll still earn valuable points.

• Welcome Offer: New cardholders can earn 60,000 bonus points after spending $4,000 in the first 3 months, which is worth at least $750 in travel through the Chase portal. Watch out for elevated offers for this card. When Sam and I opened ours, the welcome offer was 75k points, worth at least $900!

2. Comprehensive Travel Insurance Benefits

One of the standout features of the Chase Sapphire Preferred card is its extensive travel insurance protections. These perks can offer peace of mind when traveling, helping you avoid costly disruptions and protecting you if something unexpected occurs. Here are some of the awesome insurance benefits:

• Trip Cancellation/Interruption Insurance

If your trip is canceled or interrupted due to a covered reason (such as illness, severe weather, or other qualifying emergencies), the Chase Sapphire Preferred can reimburse you for non-refundable travel expenses. Coverage can go up to $10,000 per person and $20,000 per trip, helping to mitigate the financial blow from an unexpected change of plans.

•Travel Delay Reimbursement

If your flight is delayed for more than 6 hours or requires an overnight stay, the Chase Sapphire Preferred can reimburse you for expenses like meals, lodging, and transportation, up to $500 per person! This benefit can be incredibly useful if you find yourself stuck in an airport due to bad weather or technical issues.

•Baggage Delay Insurance

If your checked luggage is delayed by more than 6 hours, you can receive compensation for the purchase of essential items, such as clothing and toiletries, up to $100 per day for a maximum of 5 days. This ensures you’re covered while waiting for your bags to arrive.

•Lost Luggage Reimbursement

In the unfortunate event that your luggage is lost or stolen, this card offers reimbursement for the cost of replacing your belongings, up to $3,000 per person. This is a valuable benefit that can give you peace of mind when flying to a far-off destination.

•Trip Delay Reimbursement

If your trip is delayed for a covered reason, such as severe weather, the CSP provides reimbursement for certain expenses like meals and accommodations. This can be especially helpful during long delays or when bad weather disrupts multiple flights.

•Emergency Medical and Dental Coverage

While it's always a good idea to have travel insurance, the Sapphire Preferred also provides emergency medical and dental coverage when you’re traveling abroad. If you need medical attention while outside your home country, you can be reimbursed for qualifying medical expenses, up to $2,500 per person. This feature adds an extra layer of protection to your travels, particularly in countries where healthcare costs can be high.

3. Primary Rental Car Insurance

When you rent a car using your Chase Sapphire Preferred, you receive primary rental car insurance. This is a huge perk because primary coverage means you can file a claim directly with Chase, without needing to go through your personal auto insurance. The coverage includes damage or theft of the rental car and can be an important cost-saving tool, as you won’t need to purchase additional rental car insurance. We personally have never paid for daily car insurance at a rental facility since starting this hobby.

4. No Foreign Transaction Fees

One of the most essential travel benefits is that this card does not charge foreign transaction fees. This means you won’t have to pay extra fees for making purchases while traveling abroad, allowing you to save money on every transaction.

5. Access to Chase Portal

Chase Sapphire Preferred cardholders gain access to the Chase travel portal, where you can redeem your points for flights, hotels, car rentals, etc. You also get 25% more value when redeeming points through the portal. For example, 60,000 points are worth $750 in travel booked through the portal, so you can maximize your points’ value when booking trips.

The Sapphire Preferred card is a powerhouse for anyone who travels frequently or wants to earn rewards on everyday purchases. Personally for us, the insurance protections alone, such as trip cancellation, lost luggage, and rental car coverage, provides us significant peace of mind while booking trips and traveling!

Not to mention it is essential to our strategy, and we always will have this one open since we can transfer points to travel partners.

With this card, you’ll definitely be able to make the most of your points and your overall travel experience, so it should be at the top of your list!