 TITLE: How Does Credit Card Purchase Protection Work? CONTENT: What Is Purchase Protection?\n----------------------------\nPurchase protection will reimburse you to replace an eligible item you've purchased if it's lost, stolen or damaged accidentally within a predetermined period—typically 60 to 120 days.\nDepending on the card and its issuer, the terms and limits can vary. For example, you may get up to $500 per claim, with a yearly or lifetime limit of $50,000.\nThe amount you're eligible to receive can also vary. With American Express, for instance, you'll receive the lesser of the cost to repair the item, the cost to replace it or a complete reimbursement.\nPurchase protection programs also have some limitations on the types of purchases that are covered. A few examples of purchases that aren't typically protected include:\n*   Perishable items\n*   One-of-a-kind, antique or previously owned items\n*   Motorized vehicles\n*   Traveler's checks, tickets, rare stamps or coins\nThere are also some exclusions for what caused you to lose the item or its damage or theft, which can include:\n*   Acts of war\n*   Fraud, abuse or illegal activity by the cardholder\n*   Carelessness in safeguarding the item\n*   Theft from baggage not carried by hand\nMake sure to read your card's benefits guide to get the full scoop on what is and isn't covered. Purchase protection is typically offered as secondary coverage, meaning it kicks in after other eligible insurance (such as renters or homeowners insurance) or manufacturer or vendor guarantees are used.\nFinally, it's important to note that purchase protection is different from price protection, another form of credit card insurance. If you buy an eligible item and the price drops within a set period, price protection can make it possible to get reimbursed for the difference. END