But if you’re always on the road and tend to spend weeks or even months abroad, Revolut is going to cap its travel insurance after a certain amount of time. You can also pay a fixed upfront price for an annual policy.
Revolut isn’t becoming an insurance company. Just like with its mobile device insurance product, the startup is working with third-party insurance companies. This time, Thomas Cook Money is in charge of the travel insurance product. It’s also worth noting that Revolut Premium includes travel insurance.
Revolut is slowly building an insurance hub to control all your insurance needs from the company’s app. And this is smart as Revolut just has to take a bit of money from your Revolut balance. It feels like you’re not spending any money because you don’t need to enter your card number.
The startup has been releasing new features at an impressive pace. The service is now much more than a simple prepaid MasterCard with a foreign exchange feature. You can now trade cryptocurrencies in the Revolut app, receive money on your own IBAN, ask for a credit line and more. It’s becoming a serious banking alternative.
Revolut launches geolocation-powered travel insurance