So for example, if someone were to break into your car and steal your laptop, youd be covered under purchase protection, as long as you purchased it with your American Express card. If filing online, you will be prompted to submit required documents to support your claim. Cash Back rewards do not expireas long as your account is open! AmEx purchase protection covers lost, stolen or damaged items within the first 90 days after purchase. Here is a list of our partners and here's how we make money. Well, you can't look in anybody's wallet, but you can check out our experts' favorite credit cards. Although this is an oft-overlooked benefit, purchase protection can provide exceptional value. This coverage is complimentary on most AmEx cards including some debit, prepaid and reloadable AmEx cards. When we think of travel rewards card benefits, we tend to think of lounge access, free checked bags and companion tickets, but dont stop there. Many of the best credit cards have purchase protection. This was for Amex Canada (RSA Insurance). If not, please enter the text below. Notably, American Express prepaid debit cards do not come with this benefit. However, certain premium cards cover your purchases for up to $10,000 per incident, with the same limit of up to $50,000 in total claims per calendar year. For example Mastercard offers Purchase Assurance to many Mastercard holders. Though the majority of cards within the American Express portfolio carry purchase protection as a perk, you wont get the same level of coverage from all credit cards. The Platinum Card, Covered Eligible Purchases are items bought with your Eligible Card and are covered for the first 90 days after the day of purchase. Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more. Coverage limits apply. Fortunately, several American Express credit cards are equipped with the handy purchase protection perk. In the case of a damage claim, you may need to send in the broken item. Copyright, Trademark and Patent Information, One-of-a-kind items including antiques, artwork, and furs, Purchases that are consumable or have a limited life span, Previously owned and used items (except when refurbished by the original manufacturer), A copy of any insurance declaration pages for other policies that cover the purchase, A photograph and/or a completed repair estimate form, For theft and vandalism claims -- a written incident report filed with the appropriate authority before you filed your purchase protection claim. All information about The Amex EveryDay Preferred Credit Card from American Express has been collected independently by NerdWallet. Terms apply. Almost every American Express credit and charge card offers purchase protection of some degree. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion directly. Simply losing or misplacing the purchase (although the policies for the Delta Reserve, Delta Reserve Business, Hilton Aspire and all consumer versions of the Amex Platinum Card do cover lost or misplaced items). All consumer American Express cards offer purchase protection for eligible purchases. Credit Card Return Protection Terms | American Express US Return Protection Learn more about the benefits Card Membership can provide. Beyond that, I think its prudent to factor these protections into your decision of which card to use whenever you make a large purchase. American Express Purchase Protection Guide: (Claims, Forms) [2021] All Rights Reserved. NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer Access|Licenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc. (CA resident license no. Purchase Protectioncan help protect Covered Purchases made with your Eligible Card against accidental damage, theft and sometimes provide lost coverage for certain Eligible Card products for up to 90 days from the Covered Purchase date. Please try again later. How Much Are Travel Points and Miles Worth in 2023? Log in to your American Express account. As a digital nomad for nearly five years, JT proves through experience that credit card rewards can drastically reduce the cost of travel. Get the latest tips you need to manage your money delivered to you biweekly. The extended warranty does not cover the following items: Also, coverage does not apply to damage from natural disasters, alterations or modifications, power surges, war or acts of war or any item under a product recall. If the American Express card member left an item in an unlocked car and it was stolen, purchase protection wouldn't help with that. There are also coverage limits, which depend on the card that you have. Items purchased for resale, professional or commercial use. Purchase protection covers items you want to keep; return protection covers items you don't want to keep where the store won't accept a return. 5 Stars. There are a multitude of purchases that are excluded from purchase protection. This benefit offers cardholders compensation when a store will not accept an eligible item for return within 90 days of purchase. American Express purchase protection is short-term insurance for products you buy. Submit a Claim. He was born in California but currently lives as a digital nomad with a home base in Colombia. Many times, claims examiners will ask you to submit photos of your broken item to verify its condition and American Express may request that you send your broken item to them. One-of-a-kind items, such as antiques and artwork, or limited-edition items. Earn 70,000 Bonus Miles after spending $5,000 in purchases on your new Card in your first 3 months of Card Membership. . Items damaged by natural disasters are subject to different terms and limits notated in each cards terms and conditions. Terms apply to the offers listed on this page. As always, check your credit cards guide to benefits to see which benefits apply to you. No annual fee You wont have to pay an annual fee for all the great features that come with your Freedom Unlimited card. American Express purchase protection works by covering the damage or theft of eligible purchases for up to 90 days after the purchase date. However, not all purchases and losses are covered by AmEx purchase protection. If your card includes American Express return protection, Amex will refund up to $300 per item, including shipping and handling charges.