Do Credit Cards Cover Stolen Items? Coverage, Limits, and Claims

Yes, many credit cards do cover stolen items through a benefit called purchase protection, which can reimburse you for something you bought with the card if it’s stolen (or accidentally damaged) shortly after the purchase. Coverage typically lasts 90 days from the purchase date, with per-claim limits commonly between $500 and $1,000. This is a contractual perk from your card issuer or network, not a federal law, so whether you’re covered and how much you can recover depends on the specific card in your wallet.¹

Which Cards Include This Benefit

Purchase protection isn’t universal. It depends on the network and the tier of your card:

Visa Signature and Visa Infinite cards include Purchase Security, covering eligible items against theft or damage for 90 days from the purchase date.²
Standard Mastercard cards offer Purchase Assurance for 90 days, capped at $1,000 per claim and $25,000 per account per year. Premium tiers such as World Elite generally offer broader coverage.³
Many mid-range and premium American Express cards include purchase protection for up to 90 days, with a $1,000 per-occurrence limit and $50,000 per calendar year.⁴
Discover eliminated purchase protection in February 2018. If you carry a Discover card, this coverage isn’t available.

Your card’s Guide to Benefits, available online or in your issuer’s app, spells out whether the benefit applies to your account and what its exact terms are.¹

What Counts as a Covered Theft

The item must have been purchased entirely with the eligible credit card. Splitting payment between the card and cash, or using a gift card for part of the transaction, can void coverage. The charge has to show up on your statement as completed.²

The theft has to be an actual theft. Losing an item, or having it disappear under unclear circumstances (what policies call “mysterious disappearance”), doesn’t qualify. You’ll need evidence a crime occurred, which is why a police report is a standard requirement.⁴

Common Exclusions

Certain categories are excluded across networks:

Motorized vehicles, including cars, motorcycles, boats, and aircraft.⁴
Perishable and consumable items such as food and plants.
Pets and other living things.
Items stolen from checked baggage in the care of an airline or carrier; those losses fall under the carrier’s liability.
Cash, traveler’s checks, and tickets.
Normal wear and tear, which isn’t a covered event to begin with.

Your specific Guide to Benefits will list any additional exclusions tied to your card.

How Much You Can Recover

Every policy caps the payout per claim and per year:

Standard Mastercard: up to $1,000 per claim, $25,000 per account per year.³
Most American Express cards: up to $1,000 per occurrence, $50,000 per calendar year.⁴
Visa prepaid cards: up to $500 per claim, $1,000 per year. Visa Signature and Visa Infinite offer higher limits.⁵

Reimbursement is limited to the original purchase price on your receipt. If you bought the item on sale, you get the sale price, not the retail value.

How It Works With Your Other Insurance

Purchase protection is almost always secondary coverage. Your homeowner’s or renter’s insurance has to be applied first, and the card benefit fills the gap, including any deductible your other policy charges, up to the card’s limit.⁶

In practice, most stolen items are worth less than a homeowner’s or renter’s deductible, which often runs from $500 to $2,000. When that’s the case, the credit card claim is usually the better route, since there’s no deductible to absorb. The benefit administrator will still ask you to disclose any other insurance you carry to determine the correct payout.

How to File a Claim

Prompt action matters. The timelines are short, and missing them is one of the most common reasons claims are denied.

File a Police Report Right Away

Report the theft to local law enforcement as soon as possible. Visa’s terms require the police report within 48 hours of the incident.⁵ Other networks have similar windows. Even if police are unlikely to recover the item, the report is essential; without it, most claims are denied automatically.

Notify the Benefit Administrator

Contact the administrator listed in your Guide to Benefits, even before you’ve assembled every document. Mastercard requires notice within 30 days of discovering the theft.⁷ The administrator is typically a third-party insurance company that handles claims for the card network. You’ll receive a claim number and a claim form to complete.

Gather Your Documentation

The claim form usually asks for:

The original receipt showing date, item description, and amount paid.
The credit card statement reflecting the completed charge.
A copy of the police report.
A written description of what happened, when, and where.
Serial numbers for electronics or high-value goods.
Details of any other insurance that might cover the loss.

Submit everything within the administrator’s window. Visa allows up to 90 days from the date the claim is opened to send in all paperwork.⁸

Wait for the Decision

Once the file is complete, an adjuster reviews the evidence, confirms the incident fits the policy’s definition of theft, and checks that no exclusions apply. If approved, the payout comes as a statement credit or a check. In some cases the administrator may replace the item directly or pay for repairs if it was recovered damaged.

Keep the Account Open

Your credit card account generally has to be open, valid, and in good standing on the date of the theft for the benefit to apply. Mastercard’s terms state explicitly that benefits will not be paid if the account is cancelled, suspended, or delinquent on the date of loss.⁷ If you’re planning to close a card, keep this in mind for any recent purchases still inside the 90-day window.

Stolen Cell Phones Are Handled Separately

If your stolen item is a phone, look at whether your card includes cell phone protection before filing a purchase protection claim. It’s a different benefit with different rules. Rather than requiring you to buy the phone with your card, cell phone protection typically requires you to pay your monthly wireless bill with the card, with coverage beginning in the billing cycle after your first qualifying payment.⁹ Visa Signature cards, for example, cover a stolen or damaged phone with a $50 deductible when the monthly bill is charged to the card.² The terms are often more favorable than general purchase protection.

If Your Claim Gets Denied

Ask for a written explanation. Common reasons include missing the filing deadline, insufficient documentation, or the item falling under an exclusion. If the denial hinges on missing paperwork, you can often resubmit with the additional evidence.

If you can’t resolve it with the administrator, you can file a complaint with the Consumer Financial Protection Bureau. The CFPB forwards complaints to the company, which generally responds within 15 days.¹⁰ Include the key facts, dates, amounts, and copies of your correspondence. Complaint data is published in a public database, which gives companies an incentive to resolve disputes.

1
Chase. Travel and Purchase Protection Benefits for Chase Credit Cards: Frequently Asked Questions
2
Visa. Visa Signature Credit Card Benefits and Perks
3
Mastercard. Purchase Assurance – Guide to Benefits for Mastercard Cardholders
4
American Express. Purchase Protection Terms
5
Visa. Purchase Security for Reloadable Visa Prepaid Card
6
American Express. Purchase Protection Benefit Guide
7
Mastercard. Purchase Protection
8
Visa Benefits Portal. Purchase Protection
9
Wells Fargo. Cell Phone Protection With Your Credit Card
10
Consumer Financial Protection Bureau. Submit a Complaint