6 lesser-known Chase Sapphire Reserve benefits that pay off big

The Chase Sapphire Reserve® (see rates and fees) is widely considered one of the best travel credit cards.

It features a stellar 125,000-point welcome bonus after spending $6,000 on eligible purchases within the first three months from account opening.

In addition to being a points-earning workhorse, the Sapphire Reserve also features several benefits, including an annual $300 travel credit, an up to $120 Global Entry, TSA PreCheck or Nexus credit, excellent travel earning rates and a Priority Pass Select lounge membership.

Perks like these are valuable and easy to use, but did you know that the Sapphire Reserve also offers top-notch travel and shopping protections, too?

Let's review six lesser-known benefits that can save you thousands of dollars in the long run.

Trip delay reimbursement

Have you ever had a flight delay that required an overnight stay?

The Sapphire Reserve will reimburse you for many of the costs in the event this happens. If your trip (whether by air, bus, cruise ship or train) is delayed by more than six hours or requires an overnight stay, you're entitled to reimbursement if you purchased your ticket with your Sapphire Reserve.

This benefit covers the cardholder, the cardholder's spouse or domestic partner and dependent children under the age of 26 for up to $500 for each purchased ticket. The $500 is limited to one covered incident per trip. To be eligible, the trip must be away from the cardholder's city of residence and fewer than 365 days in length.

So, what exactly is covered?

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Chase defines reimbursable expenses as those incurred for meals, lodging, toiletries, medication and other reasonable expenses incurred during a delay. However, trip delay reimbursement doesn't cover prepaid expenses or any covered hazard that was made public or known prior to the departure of the covered trip.

Related: How my Chase Sapphire Preferred saved me nearly $250 on a canceled trip

Baggage delay insurance

If you've dealt with delayed or lost luggage, you know it's a massive inconvenience.

If your baggage is delayed or misdirected for six or more hours, the Sapphire Reserve can reimburse you for essential items.

Baggage delay insurance covers the cardholder, the cardholder's spouse or domestic partner and immediate family members for up to $100 per day for a maximum of five days. Covered items include essential items that are needed as a result of the delay, such as clothing, toiletries and a cellphone charger cable.

For lost, damaged or stolen baggage, the Sapphire Reserve covers up to $3,000 per insured person on eligible trips. This reimbursement is valid for both checked and carry-on baggage. You'll be reimbursed for both the bag and any personal property within the bag.

Note there are some limitations on jewelry, watches and electronics, as well as exceptions for documents, money, securities, tickets, checks, travelers' checks or furs.

For both forms of coverage (baggage delay and lost luggage reimbursement), at least a portion of the cost of your trip must have been charged to your card for the benefits to take effect.

Related: The best credit cards for paying taxes and fees on award tickets

Trip cancellation/trip interruption insurance

What about insurance for a canceled trip? Thankfully, the Sapphire Reserve comes with some protections that will help you walk away with as little financial damage as possible.

Trip cancellation insurance reimburses you if you cannot travel on or before the departure date and, as a result, you have to cancel your travel plans.

On the flip side, trip interruption insurance covers you if your trip is cut short or postponed, resulting in fees associated with rebooking the trip.

For both trip cancellation and trip interruption, the Sapphire Reserve covers the cardholder and immediate family members (even if the cardholder is not traveling with them) up to $10,000 per person and up to $20,000 per trip.

When you pay for the trip with your Sapphire Reserve, coverage is limited to $40,000 during a 12-month period. That's likely more than any one cardholder will need, but it's great to have access to a high coverage limit for those luxurious vacations.

Chase offers several examples of eligible cancellation or interruption reasons, such as:

• Accidental bodily injury, loss of life or sickness experienced by the cardholder, a traveling companion or an immediate family member of the cardholder or a traveling companion
• Severe weather that prevents the start or continuation of a covered trip
• Terrorist action or hijacking
• Jury duty or a court subpoena that cannot be postponed or waived

With that generous list of what's covered, Chase also lists forms of cancellations and interruptions that aren't covered. While not an exhaustive list, it includes:

• Travel arrangements canceled or changed by a common carrier, tour operator or any travel agency unless the cancellation is the result of severe weather or an organized strike affecting public transportation
• Change in plans or financial circumstances
• Traveling against the advice of a physician or travel booked past the 26th week of pregnancy
• A declared or undeclared war
• Trips that exceed 60 days
• Financial insolvency of the cardholder's travel agency, tour operator or travel supplier

Note that you must file a written claim within 20 days of the event (but we recommend filing as soon as possible).

Related: Comparing travel protections with the Chase Sapphire Reserve and Amex Platinum

Emergency medical and dental coverage

If you get sick while traveling and need emergency treatment, the Sapphire Reserve reimburses up to $2,500 in costs, subject to a $50 deductible, and up to $75 per day for a hotel room (up to five days) if the doctor determines you can't travel immediately after your release from a hospital.

Covered medical and dental expenses include necessary services performed by a legally qualified physician, surgeon, nurse, dentist or osteopath. In addition, the coverage will reimburse you for the following:

• Hospital/operating room charges
• Charges for anesthetics, x-rays, exams or treatments and lab tests
• Ambulance services
• Drugs, medicines and therapeutic services and supplies

Medical services that aren't reimbursable include non-emergency services, supplies or charges, care not rendered by hospitals and physicians or dentists, care that's experimental, care not medically necessary (as determined by the benefit administrator) and if the injury or illness occurred in any country that's determined by the U.S. government to be unsafe for travel.

Coverage also doesn't apply to medical tourism trips.

This benefit covers the cardholder and the cardholder's spouse or domestic partner and/or legally dependent children under 19 years old (or if they're younger than 26 years old and enrolled as full-time students at an accredited university).

To be eligible for the coverage, the travel must have been booked with your Sapphire Reserve or with Ultimate Rewards points linked to your account, and you must contact the benefits administrator within 90 days.

Finally, a trip must be five to 60 days long and at least 100 miles from home to be covered.

Your benefits can even include emergency medical evacuation coverage.

Auto rental collision damage waiver

Renting a car can include many additional fees, so it's nice to know you have protection if anything goes wrong.

With the Sapphire Reserve card's rental damage waiver, if your rental car is in a collision or you are the victim of theft, you're eligible for up to $75,000 in coverage.

The coverage is primary when traveling both in the U.S. and abroad — meaning you don't need to report the incident to your personal car insurance provider.

Both physical damage to the car and theft are covered by this insurance. In addition, there's coverage for reasonable and customary towing charges related to a collision or theft when a car must be towed to the nearest repair facility.

Finally, valid loss-of-use charges incurred by the rental company are covered.

Unfortunately, there are quite a few exceptions that aren't eligible for coverage. They include:

• Antique cars, cargo vans, vehicles with open cargo beds, trucks other than pickups, motorcycles, mopeds, motorbikes, limousines, recreational vehicles and passenger vans with seating for more than 9 people
• Expenses reimbursed under your personal auto insurance policy, your employer or your employer's insurance
• Any obligation you assume under any other agreement
• Injury to anyone or anything inside or outside of the vehicle
• Leases and mini leases
• Any violation of the auto rental agreement
• Loss or theft of personal belongings
• Rentals at or over 31 consecutive days in length

Both the cardholder and additional drivers included on the rental agreement are eligible for the coverage, though you must decline all supplemental insurance offered by the rental car company to be eligible.

This benefit could save you a lot of out-of-pocket cash if you end up in this unfortunate situation with a rental car.

Related: Best credit cards for rental car coverage

Shopping protections

The Sapphire Reserve card offers great purchase protection in three main categories. Remember that you must purchase the item with your Sapphire Reserve to qualify for any of these coverage options.

Purchase protection

If you purchase a new item and it breaks or gets stolen within 120 days, you're eligible to receive up to $10,000 per claim and up to $50,000 per cardholder account to reimburse, repair or replace the purchase. You (as the cardholder) or the recipient of a gift are eligible for the protection.

Noncovered purchases include (but aren't limited to):

• Items that "mysteriously disappear" with no evidence of a wrongful act
• Used or pre-owned items
• Antiques and collectibles
• Boats
• Automobiles
• Aircraft
• Motorized vehicles
• Computer software
• Items purchased for resale, professional or commercial use
• Medical equipment
  

Extended warranty protection

If your purchase comes with a U.S. manufacturer's warranty of three years or less, extended warranty protection extends the coverage by one additional year. In total, the warranty protection covers up to $10,000 per claim and up to a maximum of $50,000 per account.

What's especially useful with this protection is that items purchased outside the U.S. are covered, so long as they have a valid original manufacturer-written U.S. repair warranty, a store-purchased dealer warranty or an assembler warranty.

Purchases that aren't covered include (but aren't limited to) boats, automobiles, aircraft, motorized vehicles, items purchased for resale, professional or commercial use, used or preowned items and computer software.

Return protection

If you're dissatisfied with a purchase and the original merchant won't accept the return for a refund, exchange or credit, you're eligible for reimbursement through your Sapphire Reserve.

Eligible returned items are those in new or good/working condition that have been purchased in the last 90 days. As the cardholder, you're eligible for up to $500 for each eligible item, up to $1,000 per year.

Non-covered purchases include:

• Animals and live plants
• Boats
• Aircraft
• Automobiles
• Motorized vehicles
• Cash or cash equivalents
• Computer software
• Items purchased outside the U.S.
• Items purchased for resale
• Jewelry
• Collectible items
• Perishables

While you can be reimbursed up to the full value of your items (or up to a maximum of $500), it's worth pointing out that shipping and handling fees could be subtracted from your reimbursement prior to payment.

Bottom line

While the widely known benefits of the Sapphire Reserve are incredibly useful, some of the card's lesser-known perks offer great value as well.

Remember that benefits can change at any time. Make sure you read the fine print in your benefits guide to familiarize yourself with eligibility requirements and the necessary documents before making a claim. This will help ensure the process moves along as smoothly as possible.

To learn more, check out our full review of the Sapphire Reserve.

Apply here: Chase Sapphire Reserve