Understand how it works and when it is valid

Estimated reading time: 3 Minutes

You may have already heard of shopping insurance, a feature that some credit card brands and types offer credit Offer to attract more customers. This service guarantees the right to request a free return shipping or a full or partial refund of the purchase price in some cases.

For example, Mastercard Gold and Black customers can get a refund of up to $200 (about R$1,040) if a product is damaged or stolen. Mastercard, Visa, Elo and American Express all have this feature, and in this article we will focus on the two most popular brands in Brazil.

MasterCard purchase insurance

As mentioned earlier, Mastercard Purchase Insurance, as with other brands, is valid in cases of theft or damage to a product purchased on the Card. To activate the MasterCard Purchase Protection Insurance, the customer must provide the following documents:

• Complete an insurance claim form;
• Submit proof of payment for the item made with the card;
• In case of theft: Event Bulletin.
• In case of damage: quote for product repair;
• credit card statement.

It is only possible to request purchase insurance for up to 30 days after purchase of the product (Gold Edition) or 90 days after purchase (Black Edition). To start insurance, it is necessary to send a notification to the insurance company as soon as possible and request an occurrence form. This is done through MasterCard Website.

Visa card purchase insurance

Like its competitor, Visa cards also offer shopping insurance. On this brand, purchase protection is valid for up to 180 days after purchase, and covers expenses for product repair or replacement. The maximum amount of benefits varies depending on the card used for purchase:

• Gold: R$3,300 per event and per year;
• Platinum: R$ 16,500 per event and R$ 33,000 per 12 months;
• Signature: R$ 16,500 per event and R$ 33,000 per 12 months;
• Infinite: R$33,000 per event and R$66,000 per 12 months.

The request for compensation, the necessary documents and eligibility conditions can be checked through Visa website.

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