Protect your purchases from the unexpected
When you use your Patriot Federal Credit union card and your purchase is stolen or damaged due to fire, vandalism or accidentally discharged water or certain weather conditions within the first 90 days from the date of purchase, Purchase Security can replace, repair or reimburse the item up to$500 maximum per claim and $50,000 maximum per cardholder.
Keep in mind that if your item is stolen or damaged, you must file a police report within 48 hours of the occurrence.
Below you will find answers to the most commonly asked questions about the benefit
Q: What are the limitations?
A: You will want to read the full Terms and Conditions, but here are some examples of what does not apply for Purchase Security: the item cannot be used or pre-owned; the item cannot be hard-wired or installed. For example, a microwave oven that is built-in is not covered, but coverage applies for a microwave oven that sits on the countertop.
Q: What does a “per claim occurrence” mean?
A: Per occurrence is another way of saying per event or per incident – for example, if you go to the store and make a few purchases: toaster and radio for your home. Later that evening you step out for dinner and upon your return notice your house has been broken into and your new purchases have been stolen. When you call the Benefit Administrator to file a claim, you would list all of the items you just purchased with your covered Patriot Federal Credit Union card – the Benefit Administrator would then add all of those together to determine the total claim amount. The Benefit Administrator will ask you to include all of the items in your claim because there may be some items that are not eligible and they will want to be able to get you the highest reimbursement amount that you are eligible for.
Q: Are purchases that I make outside of the United States covered? What about gifts I purchase?
A: Yes those eligible as long as you purchase them using your covered Patriot Federal Credit Union card and meet the Terms and Conditions of the benefit.
Q: What are the timelines for filing a claim?
A: You must (1) file a police report within 48 hours of becoming aware of the theft, (2) notify the Benefit Administrator within 60 days of the theft or damage and (3) submit your completed claim form and supporting documentation with 90 days of the theft or damage.
Q: Do I have to file a claim with my insurance company?
A: In addition to the claim form, the Benefit Administrator will review with you the following supporting documentation you may need depending on your claim:
- An itemized sales receipt for the purchase – if you don’t have this, the store where you made the purchase may be able to print a duplicate receipt for you
- Your covered Patriot Federal Credit Union card billing statement showing the purchase – your bank can usually make a copy for you
- A police report (in the case of theft), fire report or incidence report to substantiate the loss
- The Benefit Administrator may ask you to provide additional information, such as a repair estimate or replacement receipt (if applicable)
Q: How long does it take for a decision to be made on a claim?
A: Under normal circumstances, one the Benefit Administrator has all the paperwork they need to process the claim, a decision will be made within five business days. The Benefit Administrator will send you notification of their decision.
For more information please call 888-777-9982.
Visa Card Benefits Solutions makes the benefits available to you through cbsi and enrollment is not effective until you receive a Confirmation of Receipt of Enrollment from cbsi. Please refer to the Á la Carte Kit to get information on program mechanics, FAQs, disclosure requirements and other Terms and Conditions.
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