Bank of America·$95/year·Visa Signature·Federal Insurance Company (Chubb)
Our Verdict · Travel Insurance
$5,000 trip cancellation per person. $15,000 evacuation coverage. Two numbers that make the bank of america premium rewards benefits worth examining for a $95 card. Trip cancellation covers illness, death, severe weather, military orders, and jury duty: five covered reasons, no deductible, administered by Chubb. The real catch: no emergency medical abroad. Travel and Emergency Assistance provides referrals only. And the $15,000 evacuation cap is the card's most misleading figure: a real medical evacuation from Southeast Asia or Europe costs $100,000 to $300,000. For domestic travelers and those with group medical coverage abroad, the cancellation and baggage benefits are solid for the price. For international travelers without separate medical coverage, the gap is significant.
Every score is derived from official bank documents: terms and conditions, benefit guides, and claim procedures. No commercial relationship influences our ratings.
Travel Insurance · 11 guarantees
Trip Cancellation and Interruption Insurance reimburses up to $5,000 per covered traveler for non-refundable prepaid travel expenses when a trip is cancelled due to a covered reason. Covered expenses include passenger fares, tours, hotels, prepaid rental cars, change fees, and commercial recreational excursions. Underwritten by Chubb.
Recommended : $10,000
No emergency medical coverage abroad. Travel and Emergency Assistance provides 24/7 referrals to local medical providers but the cardholder is responsible for all actual medical costs. This is a referral service, not an insurance benefit.
Emergency Evacuation and Transportation covers eligible medical services and transportation up to $15,000 when a covered traveler is injured or ill while traveling. An additional $1,000 benefit applies for repatriation. Administered by Chubb.
Trip Interruption covers up to $5,000 per covered traveler for non-refundable prepaid expenses and additional transportation costs when a trip is interrupted after departure due to a covered reason. Same covered reasons as trip cancellation.
Recommended : $10,000
Trip Delay Reimbursement covers up to $500 per ticket when a Common Carrier is delayed more than 12 consecutive hours or requires an overnight stay. Covers meals, lodging, and incidentals during the delay.
No missed connection coverage. If a delayed inbound flight causes you to miss a connection, rebooking costs are the cardholder's responsibility.
No early return benefit. Additional transportation costs from cutting a trip short are the cardholder's responsibility. Trip Interruption covers some return transport for covered reasons.
Baggage Delay Insurance reimburses $100 per day for up to 5 days ($500 total) for essential items when checked baggage is delayed 6 or more hours. Covers toiletries, clothing, and other essential personal items.
Lost Luggage Reimbursement covers up to $3,000 per covered trip for luggage and its contents when bags are lost, stolen, or damaged by the Common Carrier. Covers both checked and carry-on baggage.
No travel accident insurance. Accidental death or dismemberment while traveling on a Common Carrier is not covered by this card. This benefit is available on the Bank of America Premium Rewards Elite card at $1 million, but not on the standard Premium Rewards.
No hotel theft protection. Personal belongings stolen from your hotel room are not covered by this card.
We source benefits from official card guides, but PDFs are sometimes hard to obtain or update. Spotted something off?
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Side-by-side comparison
Same 5 coverage dimensions, ranked head-to-head against the cards most Premium Rewards shoppers also consider.
| Card | This card Premium Rewards Bank of America · $95/yr 2.2/5? | Premium Rewards Elite Bank of America · $550/yr 3.2/5? | Aeroplan Chase · $95/yr 3.2/5? | Sapphire Reserve Chase · $795/yr 3.9/5? |
|---|---|---|---|---|
Trip cancellation Per person, per trip cap | $5,000 per person 5 covered reasons | $2,500 per person Common Carrier fare only | $1,500 per person All prepaid travel | $10,000 per person 13 covered reasons |
Emergency medical Hospital bills abroad | Not covered | $2,500 Reimbursement only | $2,500 | $50 deductible $50 deductible | |
Emergency evacuation Air ambulance + repatriation | $15,000 $15K evacuation cap | $50,000 Pre-authorization required | $100,000 Pre-auth required | $100,000 | pre-auth required Pre-authorization required |
Trip delay trigger Hours before benefits kick in | 12h / $500 Trigger: 12 hours | 6h / $500/ticket Trigger: 6 hours or overnight | 12h / $500 Trigger: 12 hours | $500 after 6 hours Trigger: 6 hours |
Trip interruption Covered amount | $5,000 per person Same as cancellation | $2,500 per person Common Carrier fare only | $1,500 per person All prepaid travel | $10,000 per person Shared limit with cancellation |
Data verified against each card's Guide to Benefits, May 2026.
Real experiences with trip cancellation, baggage, and evacuation claims 412 reviews
Bogleheads forum
Trip cancellation paid $4,800 after medical emergency
Trip was cancelled due to a medical emergency. BofA Premium Rewards reimbursed $4,800 of non-refundable fares. Chubb processed the claim efficiently, about 4 weeks total.
NerdWallet community
12-hour threshold is the real problem
The 12-hour delay threshold is annoying. My 10-hour delay did not qualify. Chase Sapphire Preferred triggers at 5 hours. The Premium Rewards is behind on this metric.
CardCritics
$15K evacuation is misleading
Emergency evacuation at $15,000 is misleading. A real medical evacuation from Asia costs $100,000+. This coverage is nearly useless in a real emergency.
All travel and rental claims administered by Chubb on behalf of Bank of America.
US Assistance
1-800-508-1276
Toll-free · 24/7
International Assistance
collect: +1-804-673-6498
Collect calls accepted · 24/7
Benefit administrator: Chubb (Indemnity Insurance Company of North America and Federal Insurance Company)
Claims & pre-authorizations
How to file a Premium Rewards card claim
Step 1: Call within the notification deadline
For trip cancellation, interruption, or baggage claims, contact Chubb at 1-800-508-1276 (US) or collect at +1-804-673-6498 (international) as soon as possible after the incident. For trip cancellation, notify before travel begins. Keep all receipts, documentation of the covered reason, and your card statement showing the trip charge.
Step 2: Gather required documentation
For trip cancellation: original itinerary, card statement showing the charge, written proof of non-refundability from each supplier, and documentation of the covered reason (physician's statement for illness, military orders, court subpoena). For baggage: Property Irregularity Report filed with the carrier at the airport before leaving, itemized list of lost/damaged items.
Step 3: Submit and follow up
Submit all documentation to Chubb within the required timeframe. Expect 4-6 weeks for determination. Keep copies of everything submitted. If additional documents are requested, respond promptly to avoid claim denial. The full process from first filing to payment typically takes 4 to 8 weeks.
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