Purchase Security FAQ

What is the benefit?
Purchase Security will replace, repair or reimburse you for eligible items of personal property purchased entirely with your eligible Visa card at the Benefit Administrators discretion, in the event of theft, damage due to fire, vandalism, or accidentally discharged water, or certain weather conditions within the first ninety (90) days of the purchase date.
What is the dollar limit for this benefit?
This benefit is limited to a maximum of five hundred dollars ($500) per claim and fifty thousand dollars ($50,000) per cardholder.
Who is eligible for this benefit?
You are eligible if you are the valid cardholder of an eligible Visa card issues in the United States.
How does this coverage work?
You do not need to register your eligible purchases in any way. They are automatically covered for damage due to:

  • Fire, smoke, explosion, riot or vandalism
  • Windstorm, lightning, hail, rain, sleet, or snow
  • Aircraft, spacecraft, or other vehicles
  • Theft (except from autos or motorized vehicles)
  • Accidental discharge of water or steam from household plumbing
  • Sudden accidental damage from electric current (This benefit does not apply to electronic components)
What about purchases made outside of the US?
Purchases made outside of the US are covered as long as you purchased them entirely with your eligible Visa card and the eligible item meets the terms and conditions of the benefit.
What types of purchases are not covered?
  • Animals and living plants
  • Antiques and collectible items
  • Boats, aircraft, automobiles, and any other motorized vehicles and their motors, equipment, or accessories including trailers and other items that can be towed by or attached to any motorized vehicle
  • Broken items, unless damage is the result of a covered occurrence
  • Computer software
  • Items damaged as a result of weather other than lightning, wind, hail, rain, sleet, or snow
  • Items purchased for resale, professional, or commercial use
  • Items stolen from automobiles and other vehicles, or common carriers
  • Items that are lost or that “mysteriously disappear,” meaning that the item or item(s) vanished in an unexplained manner without evidence of a wrongful act by a person or persons
  • Items under the care and control of a common carrier, which includes the U.S. Postal Service, airplanes, or delivery service
  • Items including, but not limited to, jewelry and watches from baggage unless hand-carried and under your personal supervision, or the supervision of a traveling companion whom you know
  • Theft or damage resulting from abuse, fraud, hostilities of any kind (including, but not limited to, war, invasion, rebellion, insurrection, or terrorist activities), confiscation by the authorities, risks of contraband, illegal activities, normal wear and tear, flood, earthquake, radioactive contamination, or damage from inherent product defects
  • Theft or damage resulting from misdelivery or voluntary parting with property
  • Medical equipment
  • Perishables, consumables including, but not limited to, perfumes and cosmetics, and limited-life items such as rechargeable batteries
  • Real estate and items which are intended to become part of real estate including, but not limited to, items that are hard-wired or hard-plumbed, garage doors, garage door openers, and ceiling fans
  • Rented or leased items, or items purchased on an installment plan and for which the entire purchase price was not paid in full at the time of the occurrence
  • Traveler’s checks, cash, tickets, credit or debit cards, and any other negotiable instruments
  • Used or pre-owned items
What do I do if my purchase is stolen or damaged?
Call the Benefit Administrator at 1-800-553-4820, or call collect outside the U.S. at 303-967-1096 within sixty (60) days of the theft or damage.
How do I file a claim?
Complete, sign and return the claim form within ninety (90) days of the incident along with the following documents:

  • Your Visa card receipt
  • The itemized store receipt
  • A police report (filed within forty-eight (48) hours of the incident) in the case of theft, fire, insurance claim, loss report, or other report sufficient to determine eligibility for benefits
  • A copy of your primary insurance Declarations Page to confirm your deductible. “Declarations Page” means the document(s) in your insurance policy that lists names, coverages, limits, effective dates and deductibles when applicable.
  • Documentation (if available) of any other settlement of the theft or damage
  • Any other documentation deemed necessary to substantiate your claim

All claims must be fully substantiated as to the time, place, cause, and amount of damage or theft. In cases of damage, you will be asked to send, at your expense, the damaged item along with your claim in order to substantiate the claim, so make sure to keep the damaged purchase in your possession.

How does the reimbursement process work?
If you have met the terms and conditions of the benefit, and depending on the nature and circumstances of the incident, the Benefit Administrator will resolve your claim in one of two ways:

  1. A damaged item, whether wholly or in part, may be repaired, rebuilt, or replaced. A stolen item may be replaced. If the item is to be repaired, rebuilt, or replaced, typically you will be notified of the decision within fifteen (15) days after the required documentation of theft/damage has been submitted or is received.
  2. You may be reimbursed for the eligible item, but not more than the original purchase price of the covered item as recorded on your eligible Visa card receipt, less handling and shipping charges, up to a maximum of five hundred dollars ($500.00) per claim and fifty thousand dollars ($50,000.00) per cardholder.*

Under normal circumstances, reimbursement will take place within five (5) business days of receipt and approval of all required documents.

Do I have to file with my insurance company?
Yes, if you have insurance applicable to the damaged or stolen item (e.g., business owner’s, homeowner’s, renter’s, or automobile) or if you are covered by your employer’s insurance for such losses, you are required to file a claim with your own insurance company and to submit a copy of any claim settlement from your insurance company along with your claim form. In some cases, at the option of the Benefit Administrator, where the claim amount is within your personal insurance deductible, a copy of your personal Declarations Page may be sufficient.*
Who do I contact if I have more questions, want complete and specific coverage information, or to file a Purchase Security claim?
For more information about the benefit described in this guide, call the Benefit Administrator at 1-800-553-4820, or call collect outside the U.S. at 303-967-1096.
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