The 7 Most Valuable Chase Sapphire Reserve Benefits

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The Chase Sapphire Reserve® Credit Card is known for offering 3X points on travel and dining, along with airport lounge access and a $300 annual travel credit. Tucked behind the cool metal card you receive in the mail is a document called the "Guide to Benefits."

While some cardholders may hastily discard this pamphlet, it’s actually one of the most valuable things about this card.

In the past, most major card issuers offered a slate of standard purchase protection and travel insurance benefits like rental car insurance, return protection and extended warranty coverage. But in recent years, some large card issuers have eliminated many of these benefits.

With some other issuers backing away, the Chase Sapphire Reserve's benefits have become even more valuable. Here are a few that stand out to me most.

Baggage Delay Insurance

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If you’ve ever had an airline misplace a checked bag, then you know that sinking feeling when the baggage carousel stops, and you’re the last person standing there, and you realize you’re not leaving the airport with your luggage. 

When this happens to Chase Sapphire Reserve cardholders, they can be reimbursed for up to $100 a day, up to five days, in purchases for items like toiletries, clothing, and electronic device chargers.

You qualify for the benefit if your bag is delayed at least six hours. In my experience, it’s extremely unlikely an airline is going to deliver a delayed or misdirected bag to you any sooner than that.

Lost Luggage Reimbursement

An airline's contract of carriage specifies how much it will pay you for losing your bag. The amount can vary, and it may not be as much as you think your items are worth. Plus, there are many excluded items, such as jewelry and electronics.

But Chase Sapphire Reserve cardholders can receive up to $3,000 in coverage that includes items like jewelry, watches, cameras, and other electronic equipment, but with sub-limits of $500 for jewelry and $500 for electronics.

Emergency Medical and Dental Coverage

A traveler’s worst fear may be to get sick away from home. This benefit will cover $2,500 if that happens to you (after a $50 deductible), and potentially, $75 per day at a hotel, for up to five days, if your health insurance does not cover the costs. A payout of $2,500 likely isn’t enough to cover anything major, but it should be enough to cover minor issues.

Emergency Evacuation and Transportation

This benefit gives you peace of mind that you’ll never have to pay for an extremely expensive medical evacuation from overseas. If you break a bone, have a nasty case of COVID-19 or worse, and need to get to the nearest hospital for care or home to receive medical treatment, this benefit covers up to $100,000 in costs.

You must pre-approve the expense with the benefits administrator, so don’t go chartering a private jet home the next time you have a hangover. Alternatively, it will pay for a friend or family member to come to you under certain circumstances. This benefit will even pay up to $1,000 to repatriate your remains, but it’s best not to dwell on that possibility.

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Roadside Assistance

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When you’re traveling by car in the United States or Canada, and something goes wrong, you need help. Many credit cards offer something like “roadside dispatch,” which contacts a nearby provider on your behalf. With these dispatch services, you could be responsible for paying the provider any charges.

But the Chase Sapphire Reserve offers true roadside assistance that covers several services up to $50 per event, with a maximum of four per year. These include tire changes, towing, jumpstarts, lockout services, fuel delivery, and standard winching for stuck vehicles.

Trip Cancellation and Trip Interruption Insurance

Life happens, but it can be expensive if it happens before or during your trip. Things like injuries, severe weather, or even jury duty can prevent you from traveling. But this benefit will reimburse you for non-refundable costs, up to $10,000 per person and $20,000 per trip.

Trip Delay Reimbursement

Fly enough, and it’s only a matter of time before you have a long delay or cancellation that forces you to spend the night somewhere that you didn’t anticipate. Some airlines will reimburse you for some costs — if they own up to being responsible for the delay. And if you wait in line long enough, you might eventually be rewarded with a voucher for a budget hotel.

But if you’re a Chase Sapphire Reserve cardholder, you can receive up to $500 a day in coverage for meals, lodging, toiletries, medication, and other necessities. The coverage applies for a delay of over six hours or when you must stay overnight. So the next time an airline messes up your plans, feel free to enjoy a decent hotel and a nice meal, courtesy of this benefit.

Other Benefits

The Chase Sapphire Reserve also offers a few common benefits, such as purchase protection against theft and accidental damage. You also receive extended warranty coverage and accidental death insurance that covers you when traveling. While these can be valuable, they aren’t that much different than what you receive from other competing cards.

This card also includes auto rental collision damage waiver coverage. And unlike many cards, this is primary coverage that doesn’t require you to file a claim with your personal automobile insurance company.

How to Maximize Your Chase Sapphire Reserve Benefits

To best utilize these valuable benefits, you first need to download a copy and familiarize yourself with them. Next, you need to make sure that your Chase Sapphire Reserve is the card you use for all of your travel expenses. Not only will you earn 3X points, but you’ll only qualify for most of these benefits if you paid for all or part of your trip with your card.

Thankfully, the Sapphire Reserve benefits also cover award trips purchased with points earned from a Chase-sponsored program. So these benefits apply to trips booked through Chase Travel or trips booked with points you received through the Ultimate Rewards® program. 

And when you do need to use a benefit, read the terms carefully and follow the rules. Supply all the documentation required in a timely manner, and you should expect to be reimbursed for your covered losses. Also, when considering purchasing a travel insurance policy, double-check that the policy provides additional coverages you need or higher limits and is not duplicating the coverages you may already have from your Chase Sapphire Reserve Credit Card.

Examples of How I’ve Used These Benefits

Last spring, my car broke down on the highway, and I was able to have it towed to the nearest dealer at no charge. The summer before, I had a flight from Paris to Milan canceled at the last minute, and I was reimbursed for two rooms at a nice hotel in the terminal, plus a very good meal for my family of five. I’ve also used the extended warranty policy to be refunded for electronic devices that failed within a year of the warranty expiring.

Bottom Line

While I’ve received tremendous value from this card, I haven’t used most of its benefits. And I’m hoping I’ll never need to (especially the travel accident insurance). Nevertheless, I’m glad to earn 3X points on my travel purchases while enjoying some peace of mind.