Many premium credit cards offer travel perks such as free checked baggage, early boarding and credits on airline or hotel charges. Fewer travelers realize that many of these cards also include travel insurance when used to book flights, cruises, rental cars or hotels.

Some cards provide coverage for lost or delayed baggage, rental car insurance when the rental company’s coverage is declined, and even cell phone protection. The Chase Sapphire Reserve card, for example, offers up to $500 in expenses for flight delays of six hours or more and up to $2,500 for emergency medical or dental expenses incurred 100 miles from home.

These benefits can add significant value when used properly.