Glossary of terms commonly used in the Wallet

shopping insurance

how to read
How to read in Japanese: shopping insurance

Shopping insurance is an insurance policy that provides coverage for items purchased with a credit card if they are damaged or stolen. It is a type of automatic credit card coverage, which means that you are automatically insured when your card is issued.

Different credit card companies have different names for it, and it is sometimes called “shopping guard insurance” or “shopping protection”. The advantage is that if the reason for damage or theft is not intentional or negligent, you will be compensated even if the item was a gift.

However, not all items are covered by shopping insurance. Basically, items that cannot be returned, such as contact lenses, eyeglasses, food and pets, are often not covered, and bicycles and automobiles are generally not covered either.

To begin with, defects due to initial failure, damage during delivery, and damage caused by natural disasters are also not covered. In order to receive insurance coverage, certain conditions must be met, and the coverage period is generally set at around 90 days.

In addition, in many cases, a co-payment of 3,000 to 10,000 yen is required to receive compensation. Furthermore, it is a good idea to save paper statements instead of electronic statements.

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