MasterCard covers most items you buy with your eligible card if it is damaged or stolen 90 days after it was purchased, says Schenck.

Visa also has a 90-day policy with its damage and theft protection. The credit card company will replace, repair or reimburse cardholders for eligible purchases bought entirely by Visa Signature cards. The maximum is $500 per claim and $50,000 per cardholder.

Capital One Venture and Capital VentureOne cards both offer damage and theft purchase protection as they are both categorized as Visa Signature cards, according to Capital One spokeswoman Sukhi Sahni.

And Chase Sapphire offers to replace, repair or reimburse cardholders for qualified items within 90 days of purchase.

Items bought by any American Express card can be reimbursed if accidentally damaged or stolen up to 90 days after the purchase date. The benefit includes purchases made outside the U.S.

Read the fine print, though. There's often a laundry list of items excluded from coverage. For example, the purchase protection offered on Capital One's Visa Signature cards doesn't cover boats, aircraft, cars or other motorized vehicles or equipment.

Discover doesn't offer purchase protection on its credit cards.