Canada’s greatest bank cards for journey insurance coverage
In the event you’re planning to journey this summer season, you’ll want journey insurance coverage in case you plan to exit of province. Nowadays, lots of the bank cards accessible embrace some sort of journey insurance coverage. Whereas that’s a terrific promoting function for these playing cards, savvy Canadians know that not all insurance coverage is created equal. There are a couple of sorts of protection you truly want when travelling, like emergency medical and journey cancellation or interruption. Theft or baggage loss safety is a helpful bonus, too. As to which travel credit card affords the proper mixture of options for you, that may rely largely on the kind of traveller you’re and the perks you’re almost definitely to make use of. For example, in case you’re a frequent flyer, you may want a card that gives an in depth journey insurance coverage package deal, plus a terrific factors system or lounge entry. In the event you’re into highway journeys, a card with journey insurance coverage and roadside help could be extra your velocity. We’ve rounded up the playing cards that provide nice journey insurance coverage for any sort of globe trotter. However first…
Journey insurance coverage on bank cards: How does it work?
Each insurance coverage package deal is tailor-made to a selected card and program however generally, the method is easy. You’ll normally must e book your journey on that bank card however totally different playing cards have totally different guidelines. For instance, some say you might want to e book 100% of your journey on the cardboard whereas others don’t have that stipulation. Learn your paperwork to find out your duties. When you e book, you’ll robotically have entry to the included protection. You don’t must notify the bank card firm that you just’re touring or name to activate the protection. That mentioned, we all the time suggest that you just learn the documentation out of your bank card firm.
Why belief us
MoneySense is an award-winning journal, serving to Canadians navigate cash issues since 1999. Our editorial crew of educated journalists works intently with main private finance consultants in Canada. That will help you discover one of the best monetary merchandise, we evaluate the choices from over 12 main establishments, together with banks, credit score unions and card issuers. Be taught extra about our advertising and trusted partners.
- See playing cards tailor-made for you from over 12 banks and card issuers
- No impression to your credit score rating
- Get a solution in beneath 60 seconds
Greatest no payment card for journey insurance coverage
Rogers World Elite Mastercard
At a look: If you would like a journey insurance coverage bank card with out committing to an annual payment, try the Rogers World Elite Mastercard. Not solely does this no-fee card embrace priceless journey and rental automotive insurance coverage with perks like free Boingo Wi-Fi and entry to airport lounges, it’s additionally a money again card. Because of this for each $1 you spend on the cardboard you’ll get again 1.5% (or 3% if it’s in U.S. foreign money). And, new members will get a $25 welcome bonus utilized to their account as quickly as they make their first buy.
- Annual payment: $0
- Rates of interest: 19.99% on purchases, 22.99% on money advances, 22.99% on steadiness transfers
- Earn price: 1.5% money again on all purchases; 3% money again on all U.S.-dollar purchases
- Welcome bonus: Earn $25 money again once you make your first buy throughout the first three months of receiving the cardboard
- Extra advantages: Out-of-province/out-of-country emergency medical insurance coverage; journey cancellation/interruption safety; rental automotive collision/injury protection; entry to over 1,000 LoungeKey airport lounges in over 100 international locations with Mastercard Airport Experiences; free Boingo Wi-Fi at over 1 million hotspots worldwide; and Mastercard Journey Rewards
- Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000
Greatest journey insurance coverage card for lounge entry
Scotiabank Passport Visa Infinite Card*
It will be onerous to overstate the perks of lounge entry, significantly throughout a pandemic. And for frequent flyers, having a spot to seize a drink, sit comfortably and revel in some downtime might be the distinction between a punishing and apleasant journey. If you use this card to your journey bills, you get simply that: a worry-free haven. The Scotiabank Passport Journey Visa is a top-notch journey card in its personal proper, providing a strong suite of journey and automotive rental insurance coverage protection. It has some good perks, too, like the power to earn Scene+ factors and bonuses, together with an annual 10,000-point top-up once you spend $40,000 in that 12 months. And, cardholders obtain complimentary Precedence Move membership plus six free worldwide airport lounge passes per 12 months, so that you’ll all the time have someplace to place your toes up.
- Annual payment: $150
- Rates of interest: 20.99% on purchases, 22.99% on money advances, 22.99% on steadiness transfers
- Earn price: 2 Scene+ factors for each $1 spent on groceries, eating, leisure and every day transit purchases; 1 Scene+ level per $1 on every part else
- Welcome bonus: earn as much as $1,100+ in worth within the first 12 months, together with as much as 35,000 bonus Scene+ factors. Supply ends January 3, 2024.
- Extra advantages: Journey insurance coverage together with emergency medical, journey cancellation or interruption, flight delay, delayed or misplaced baggage, and journey accident safety; resort/motel housebreaking insurance coverage; rental automotive collision loss/injury insurance coverage; no overseas transaction charges; and Visa Infinite privileges
- Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000
Greatest journey bank card for medical insurance coverage
BMO Ascend World Elite Mastercard*
At a look: Canadians are privileged in relation to healthcare, so it’s no shock we wish to journey with strong medical insurance coverage. Whereas many bank cards supply medical protection of as much as $1 million, the Ascend World Elite Mastercard doubles that , providing $5 million in protection for as much as 21 days of journey—on limitless journeys per 12 months. You’ll additionally get journey accident insurance coverage, which covers you and your partner and dependants for as much as $500,000 on passenger plans, busses, taxis, trains and cruise ships. One other perk: You get delayed and loss baggage insurance coverage. So that you’ll be reimbursed as much as $500 per insured particular person in case your baggage are misplaced or broken. And in case your checked baggage are delayed greater than 6 hours, you’ll get $500 to buy necessities, too. Protection for you and your loved ones to the tune of $5 million gives plenty of peace of thoughts, whereas a free lounge membership in Mastercard Journey Move, offered by DragonPass, plus 4 free passes a 12 months, offers you literal peace when travelling. Cardholders earn BMO Rewards factors when utilizing the cardboard, which might be utilized to journey, merchandise, money redemption and even a contribution to a BMO funding account.
- Annual payment: $150
- Rates of interest: 20.99% on purchases, 23.99% on money advances (21.99% in Quebec), 23.99% on steadiness transfers
- Earn price: 5 factors per $1 on journey, 3 factors per $1 on eating and leisure, 1 level per $1 on every part else
- Extra advantages: Entry to over 1 million Wi-Fi hotspots, BMO concierge service, prolonged guarantee and buy safety; journey medical insurance coverage for you and your loved ones of as much as $5 million on journeys as much as 21 days; automotive rental collision loss and injury waiver insurance coverage; journey accident insurance coverage for you and your loved ones as much as $500,000 on passenger plans, busses, taxis, trains and cruise ships; delayed and loss baggage insurance coverage; and journey cancellation/interruption protection.
- Welcome supply: earn as much as 70,000 factors and the annual payment waived within the first 12 months for each the first cardholder and licensed customers.
- Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000
Greatest journey card for snowbirds and different seniors
National Bank World Elite Mastercard*
At a look: Canadians work onerous all their lives, typically with the concept they’ll journey as soon as in retirement or semi-retirement. The factor is, many insurance coverage corporations radically improve premiums and even refuse protection to older candidates. Travellers with the Nationwide Financial institution World Elite Mastercard of their pockets have 15 days of emergency journey insurance coverage included, even when they’re over 65 years previous. The cardboard’s ingenious journey payment reimbursements system can cowl you for travel-related prices like airport parking, seat choice, and checked baggage charges. This card’s rewards program enables you to earn factors on purchases that may be redeemed for journey or merchandise, or used for monetary merchandise like registered retirement savings plan(RRSP) or tax-free savings account (TFSA) contributions, or mortgage or line-of-credit funds.
- Rates of interest: 20.99% on purchases, 22.49% on money advances, 22.49% on steadiness transfers
- Earn price:Earn as much as 5 factors per $1 on grocery and restaurant purchases; 2 factors per $1 on fuel, electrical car prices and recurring invoice funds; and 1 level per $1 on every part else.
- Welcome supply: This card doesn’t have a welcome bonus presently.
- Extra advantages: As much as $150 annually in refund for journey bills on airport parking, seat choice, check-in charges, airline ticket upgrades and entry to airport lounges worldwide; free and limitless entry together with a visitor to the Nationwide Financial institution Financial institution World MasterCard Lounge at Montréal-Trudeau airport; complete journey insurance coverage protection for as much as 60 days; out-of-province-of-residence medical/hospital insurance coverage, departure flight delay insurance coverage, baggage insurance coverage in case of delay, theft or loss; car rental insurance coverage; cellular units insurance coverage in opposition to theft or damages for as much as 2 years; and medical, common and authorized help; buy safety in case of theft or injury.
- Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000
Greatest for journey insurance coverage for highway journeys
BMO CashBack World Elite Mastercard*
At a look: Many journey bank cards concentrate on air journey however for the highway trippers amongst us, we’ve chosen the BMO CashBack World Elite Mastercard. This card is strong—high to backside—with the very best money again price within the nation with 5% again on groceries, plus 4% again on transit, 3% again on fuel and electrical car charging; 2% on recurring invoice funds, and 1% again on every part else. These earn charges will simply offset the $120 annual payment for a typical spender, however the different included advantages make this a must-carry card for many who wish to take the highways and byways. First, cardmembers are coated by the BMO World Elite Whole Journey and Medical Safety package deal, which incorporates collision injury waiver advantages on rental automobiles and eight days of out-of-province and out-of-country emergency medical advantages as much as $5 million. Plus, it features a free, primary membership within the Dominion Vehicle Affiliation and the advantages of its BMO Roadside Help Program.
- Annual payment: $120
- Rates of interest: 20.99% on purchases, 23.99% on money advances, 23.99% on steadiness transfers
- Earn price: 5% money again on groceries, 4% again on transit, 3% again on fuel and electrical car charging, 2% on recurring invoice funds, and 1% again on every part else
- Extra advantages: Complimentary Roadside Help Program; BMO World Elite Whole Journey and Medical Safety; 25% off at Nationwide and Alamo for automotive leases; and Mastercard Journey Rewards program.
- Welcome bonus: You’ll be able to earn as much as 10% money again in your first three months and have the $120 annual payment waived within the first 12 months.
- Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000
Greatest journey bank card with journey cancellation insurance coverage
TD First Class Travel Visa Infinite Card*
At a look: Journey cancellation insurance coverage is extra essential than ever for the reason that pandemic began. Our decide for one of the best journey insurance coverage bank card with journey cancellation insurance coverage is the TD First Class Journey Visa Infinite, which affords as much as $1,500 per particular person. This, together with the included medical insurance coverage, widespread provider journey accident safety, delayed or misplaced baggage protection, and journey help, ought to aid you relaxation straightforward as you propose your journey. As a money again card, it can additionally allow you to earn whilst you spend, 8 TD factors per $1 spent through Expedia For TD, (and 50% extra factors for purchases at Starbucks). It is a welcome addition to any traveler’s pockets.
- Annual payment: $139 (annual-fee rebate—circumstances apply to qualify)
- Rates of interest: 20.99% on purchases, 22.99% on money advances, 22.99% on steadiness transfers
- Earn price: 8 TD factors per $1 spent once you e book journey via Expedia For TD; 6 Factors per $1 on groceries & eating places; 4 factors per $1 spent on recurring payments; 2 factors per $1 spent on every part else; 50% extra factors at Starbucks
- Welcome bonus: earn as much as 115,000 TD Rewards factors. Circumstances apply. Account should be permitted by January 3, 2024.. Plus, get an annual birthday bonus of 10% of your earlier 12 months’s factors (as much as 10,000 factors).
- Extra advantages: Journey insurance coverage package deal, together with medical insurance coverage, journey cancellation or interruption, widespread provider journey accident, and delayed or misplaced baggage protection; journey help; as much as $1,000 in cellular system insurance coverage; auto rental collision/loss injury safety; financial savings at Avis and Finances
- Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000
Extra of Canada’s greatest credit cards:
What does the * imply?
If a hyperlink has an asterisk (*) on the finish of it, which means it is an affiliate hyperlink and might typically lead to a cost to MoneySense (owned by Ratehub Inc.) which helps our web site keep free to our customers. It is essential to notice that our editorial content material won’t ever be impacted by these hyperlinks. We’re dedicated to all accessible merchandise available in the market, and the place a product ranks in our article or whether or not or not it is included within the first place isn’t pushed by compensation. For extra particulars learn our
MoneySense Monetization policy.
