Chase Sapphire Preferred vs. Chase Sapphire Reserve insurance benefits – Which is better?

06.05.2024 - 16:27 / thepointsguy.com / Chase Sapphire / Sapphire Preferred

Many travel credit cards have similar names, and that can be confusing. It seems like every card name contains the word platinum, preferred, premier or reserve somewhere in the title. It's important to know the distinctions between each because the benefits you'll find on each card can vary dramatically.

Take the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve® Card, for example. Their titles are alike, they earn the same type of points and the cards even kind of look similar. But many of their benefits are very different. And they should be. The Chase Sapphire Preferred comes with a $95 annual fee, while the Chase Sapphire Reserve has a $550 annual fee.

Let's compare some of the most important perks of these two cards: travel and purchase protections. These are huge factors when choosing the right travel credit card.

Trip interruption and cancellation insurance is something you'll (hopefully) rarely use. But when you do need it, you could be spared from forfeiting several thousand dollars in nonrefundable travel.

This coverage reimburses prepaid trip expenses that would otherwise be lost when you change or cancel your trip for a covered reason. You might even qualify for a new flight away from your destination, depending on the circumstances. Here are the differences between each insurance:

Covered reasons that make you eligible for these insurances include:

Additionally, there are losses that are specific to trip cancellation coverage only:

For trip interruption, the following also apply:

Both the Sapphire Preferred and the Sapphire Reserve offer identical insurances: up to $10,000 per covered person with a maximum of $20,000 per trip. They also stipulate a maximum payout of $40,000 per 12-month period. Both cards also provide up to $250 in reimbursement for ground transportation expenses related to the trip interruption benefit.

For reference, you can consult the Sapphire Preferred benefits guide here. Click here for the Sapphire Reserve benefits guide.

Related: Best credit cards for trip cancellation and interruption insurance

Delayed luggage can happen to anyone. If you travel with even moderate frequency, you've probably experienced this a handful of times.

Baggage delay protection reimburses you for select necessities you purchase while you're waiting for your checked bag. The delay must be caused by the common carrier (airline, cruise, train, etc.). Eligible purchases include:

Again, the Chase Sapphire Preferred and Chase Sapphire Reserve offer the same protection here: $100 per day for up to five days. This insurance kicks in after a baggage delay of six hours or more. You and your immediate family are covered.

Note that this coverage is in excess of what's provided by your