American Express Purchase Protection – A Great Perk You Might Not Know Exists
Credit cards generally offer a higher level of purchase protection than paying with cash, particularly when you use an American Express card. Purchase protection gives you confidence when shopping, since you know your purchases are protected against accidental damage, theft, or vandalism. It also provides protection in the event you order an item that never arrives.
Who is Eligible for Purchase Protection Coverage
All American Express cardholders with a permanent residence in the United States, District of Columbia, Puerto Rico or U.S. Virgin Islands automatically receive purchase protection for up to 90 days from the date of purchase on all eligible items they buy with their American Express card. You do not need to enroll or apply for purchase protection coverage, it is provided automatically to American Express cardholders.
Purchase Protection Coverage Amount
When you buy an item with your American Express Card, you’re insured for up to $1,000 per occurrence and up to $50,000 per card account per year. Spill a glass of wine on your new Ipad? Its covered. Spill a bottle of wine on your MacBook? You’ll be almost covered.
Coverage Area
While cardholders must be permanent US residents to receive purchase protection coverage on American Express credit card purchases, you can make purchases anywhere in the world with the card and receive coverage.
Cost of Purchase Protection
American Express does not charge extra for purchase protection insurance. It is a cardholder benefit included with all accounts.
Purchase Protection Claims
If an item purchased with an American Express card has been stolen or damaged, report it to the credit card company immediately and file a purchase protection claim. You will be required to prove the theft, vandalism or damage, so be sure to keep your American Express receipts, store receipts and damaged items for proof as you may be asked to mail damaged items and/or police reports to American Express. Claims may be filed by calling 1-800-322-1277. For more information, please visit www.americanexpress.com.
March 17th, 2011 at 11:35 pm
I had a great experience with American Express purchase protection. I bought a new phone and it was a nightmare to use. I went to return it a few days later and they claimed I had damaged the touchscreen. Then they tried to get me to file a phone insurance claim and I almost did until I they told me that I could only get a replacement of the same phone I wanted to return. I called American Express to contest the charge and they told me about purchase protection. So I filed a claim, got all my money back and went to a different store and got a new phone. It saved me almost $400.
March 20th, 2011 at 11:30 am
A similar experience prompted me to write about this. And, as was the case for you, a customer service rep told me about this. Amex really excels on customer service. They actually try to help and not just get you off the phone.