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Extended Warranty Insurance: You’re Covered With These Cards

Many credit cards offer a wide range of insurance coverage that can protect you and save you money. Some credit card purchase protection offers extended warranty insurance, which can extend the warranty on eligible purchases for up to one year.

The insurance provider will repair, replace, or reimburse the item. You’ll typically receive a lifetime maximum of $60,000 for both extended warranty and purchase security insurance.

Often, extended warranty insurance is automatically provided to items that have a warranty of five years or less. This is a great feature as it provides additional coverage after your warranty expires at no additional cost.

These are two credit cards that provide extended warranty insurance:

Scotiabank Gold American Express Insurance

Card details

  • Extends protection by doubling the warranty period or adding an additional year to the warranty period; the lesser of the two will be applied
  • Welcome offer: Earn up to 40,000 bonus Scene+ points in your first year (that’s up to $400 towards travel). Plus, no annual fee in the first year, including on supplementary cards and get a 0.00% introductory interest rate on balance transfers for the first 6 months. Offer ends Jan 1, 2022.
  • Lifetime maximum of $60,000
  • Must register items with a warranty of more than five years

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The Scotiabank Gold American Express card will extend a warranty for up to one year. You must pay the full cost of the item using your Scotiabank Gold American Express credit card. You’re eligible to receive the lesser of the cost to repair the item or the original cost of the item. Be sure to review what isn’t included in the insurance plan and how to file a claim.

BMO World Elite MasterCard Insurance

BMO World Elite MasterCard



  • Coverage will extend your warranty by the lesser of doubling the warranty period or extending it by one year
  • Coverage for up to $60,000 in your lifetime
  • Items with a warranty of more than five years must be registered

The BMO World Elite MasterCard provides an additional warranty for all eligible purchases by one year. You can receive up to $60,000 of coverage for purchases that qualify for extended warranty or purchase security insurance. Most purchases paid in full with your credit card will be covered. However, there are limitations. Make sure you review your insurance policy thoroughly to ensure you’re covered.

The bottom line

The extended warranty insurance offered by the Scotiabank Gold American Express card and the BMO World Elite MasterCard is very similar. If you’re interested in extended warranty insurance but you’re unsure about which card is right for you, check out the other perks or insurance benefits that each card offers.

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Flickr: Perspecsys Photos