MasterCard’s Purchase Protection Can Reimburse You For Stolen Or Damaged Items

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Have you ever had something valuable go missing on a plane and wish you could get reimbursed for it? I once had an item disappear on a plane with a retail value of about $300 and was able to get reimbursed through my credit card for the full retail amount. How did I do it? It was simple. I knew my credit card insurance benefit and immediately submitted a report with the airline and the credit card. Within a few weeks for the full amount of the item.

World MasterCard’s Purchase Protection Program

MasterCard has a purchase protection program that comes complimentary with many qualifying cards. It is a good idea to read your card benefits and know what type of insurance coverage comes with the card.

The MasterCard purchase protection program covers damaged or stolen items within the first 90 days of purchase.

MasterCard Purchase Protection

How Do You Get Coverage?

Make a purchase with your MasterCard.

What Is The Coverage Amount?

The coverage is up to $1,000 per claim and $25,000 per cardholder account within a 12 month period.

It is interesting that if the purchase was a pair (for example set of golf clubs or Louboutin shoes) the individual item will be replaced if possible, but if not, the cost of the pair / set will be reimbursed.

How To File A Claim

To file a claim just call 1-800-MC-ASSIST and request a claim form. Then report the claim within 30 days of the loss.

You’ll have to submit the required documentation within 60 days of the claim report date:

  • Completed and signed claim form
  • Proof of loss
  • Photograph clearly showing damage, if applicable
  • MasterCard receipt showing purchase of covered item
  • MasterCard statement showing purchase of covered item
  • Itemized purchase receipt
  • Report from police listing items stolen
  • Copy of the declarations page of any applicable insurance or protection (including, but not limited to, homeowner’s, renter’s, or auto insurance policy)
  • Any other documentation that reasonably may be requested to validate a claim

Bottom Line

It is never fun when a new item disappears or gets damaged. I know, I’ve been there. But it sure is sweet when a credit card coverage plan will reimburse you for the cost of the item. So it is a good idea to read the benefits of your credit cards and know if your credit card offers the purchase program.

Have you ever had an item stolen or lost on a plane? Were you able to submit the claim and get reimbursed through your credit card?

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The Weekly Flyer writes about travel from a business traveler perspective. He travels the world every week accumulating points and miles along the way.

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  1. I should add thst I had this cover with the Barclays Miles and More card. The process was not straight forward and i had to talk with barclays and MA (3 times, 6 people total) before i could get the claim accepted as valid. Looking at the benefits, had I bought the camera on the Chase Ink card this event was more clearly covered in the Terms of reference, I suspect I would have had less trouble.

  2. Besides reading each and every card agreement, is there any comprehensive list of all the cards that cover this benefit?

  3. accidently purchased a months parking at a hospital emergency department.The Vendor (precise Park) and RBC Mastercard would not refund my purchase. Hows THAT for purchase protection and customer service!

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