Assistance provided for when you - or your family - lose your credit cards at home or abroad. A single call to the card protection company triggers off a series of calls to each of your card companies to advise them that your cards are lost or stolen. Often includes insurance if lost or stolen cards are misused and extras such as replacement key service and change of address services. Can be expensive if purchased through your credit card company, so it’s best to shop around for insurance.
These policies are available from most banks and credit card providers and cost from around £12 per month. There is also the option, offered by some companies, to insure all those in your household that have a credit card, which costs around £29 per year.
If your credit cards have been lost or stolen you will only be liable to pay for the first £50. However, this doesn't apply if you have lost your card as a result of reckless behaviour and providing you haven't given out your Personal Identification Number (PIN) to anyone else.
It is good to double check this as many banks will only cover unauthorised spending on a card from when it was reported stolen and not before. However, most credit card protection policies will cover you for a limited amount before the missing cards are reported.
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