creditcardGenius Unveils The Dollar Value Of 17 Types Of Credit Card Insurance Coverage: From Low $2 To High $140

News provided by

Aug 04, 2020, 12:00 ET

MONCTON, NB, Aug. 4, 2020 /PRNewswire/ - creditcardGenius, a Canadian credit card comparison application, today, unveils their most recent study determining the dollar value of 17 types of credit card insurance coverage, altogether removing any guesswork required from consumers.

Insurance coverage details for close to 200 mainstream Canadian credit cards were compiled, then their dollar values were calculated based on statistical modelling applied to typical consumer behaviour.

"Rewards and fees are usually top of mind when consumers choose a credit card, as we've shown in our previous study. Insurance coverage often takes a back seat, partly because no one knows its true value," said Stephen Weyman, Co-Founder of creditcardGenius. "We wanted to change that and bring a level of clarity that was previously lacking to insurance coverage value."

Preview of 17 credit card insurance average value:

Credit Card Insurance	Average Value	% of Credit Cards with Coverage
Baggage Delay	$8	41%
Emergency Medical	$119	30%
Event Ticket Cancellation	$8	2%
Extended Warranty	$78	82%
Flight Delay	$6	31%
Hotel Burglary	$2	24%
Lost or Stolen Baggage	$2	40%
Mobile Device	$53	13%
Personal Effects	$23	6%
Price Protection	$72	6%
Purchase Protection	$38	84%
Rental Car Accident	$19	14%
Rental Car Personal Effects	$2	16%
Rental Car Theft & Damage	$140	54%
Travel Accident	$9	59%
Trip Cancellation	$39	25%
Trip Interruption	$26	35%

To learn more about credit card insurance, their dollar values, and their methodology, visit Study: The Dollar Value Of Your Credit Card Insurance Coverage.

On creditcardGenius, consumers can tailor their credit card choice based not only by rewards or fees, but also by insurance, interest rates, perks, approval, and acceptance.

About WeyMedia:

WeyMedia is a personal finance company that brings well-researched content and fintech products to the everyday consumer. Starting with HowToSaveMoney in 2010, WeyMedia began helping Canadians learn how to make every dollar count. Then creditcardGenius.ca was launched in 2017, providing Canadians with the only credit card matchmaker that compares 126+ features of close to 200 Canadian credit cards using math-based ratings and rankings that respond to consumer's individual needs, instantly. WeyMedia has also expanded to compare U.S. credit cards.

SOURCE Weymedia Inc