American Express is sending out on billing statements about a change to the Purchase Protection benefit which protects you in the event a new purchase got stolen or damaged:
- Beginning August 1, the Purchase Protection benefit will be increased from 90 days to 120 days.
- The following states and territories will keep the 90 day Purchase Protection limit: New York, Indiana, Guam, Puerto Rico, and Northern Mariana Islands.
Coverage is on up to $1,000 per claim and $50,000 per year per Amex card. Coverage is for theft and damage only. Premium cards (Platinum, PRG, and Gold) get coverage up to $10,000 per occurrence, and also get Loss coverage as well. I assume the 120-days change will be in effect for all of these.
A nice thing about this change is that it’ll work for any claims filed after August 1, so if you’re buying something now, you’ll have the 120 day policy kick in on August 1.
Chase and Citi also offer 120 day coverage, while Discover no longer offers the Purchase Protection benefit at all. You can read our full review on the Purchase Protection benefit here.
In related news, Amex also enhanced the Extended Warranty benefit as well, as we posted a few moments ago.
Hat tip to Travelwithgrant