Canada’s best credit cards for travel insurance
Barry Choi, Personal Finance Contributor
March 13, 2025 | Fact checked by: Natasha Macmillan, Business Unit Director - Everyday Banking
Does your credit card cover you for medical insurance or costly trip delays when you're travelling? Travel insurance credit cards can save you a lot of money and give you peace of mind. Compare the best credit cards with travel insurance from our list below.
Canada’s best credit cards with travel insurance at a glance
Featured
Best for travel medical
Travel medical coverage up to $5 million for 21 days.
- Get a $75 gift card upon approval
Best for travel
Best for travel perks and insurance.
Usually when people think about travel insurance, they’re referring to travel medical, which covers you in situations where medical care is required abroad. However, other types of travel insurance you may need include travel accident, trip cancellation and interruption, delayed baggage, and lost baggage. These can help you plan trips with greater peace of mind in case of non-refundable costs or additional travel expenses due to unforeseen circumstances.
The good news is that many credit cards today offer a comprehensive travel insurance package as a standard benefit.
What are the different types of credit card travel insurance?
| Type of credit card insurance | What it covers |
| Travel medical insurance | Healthcare costs in the event you (the cardholder), your spouse or dependents suffer an injury or illness while abroad that requires professional medical attention. |
|---|---|
| Travel accident insurance | Serious bodily harm incurred on a common carrier, such as a flight or train (i.e. medical costs associated with permanent hearing loss experienced while on an airplane). |
| Trip interruption insurance | Reimbursements of purchases made when travel is interrupted (i.e. if a connecting flight is cancelled due to a natural disaster and you need to book return flights, some or all of this cost may be reimbursed). |
| Trip cancellation insurance | Covers costs associated with a cancelled trip before departure for covered reasons (i.e. compensates you for a flight ticket if you’ve had a medical emergency one week before your flight and had to cancel your trip). |
| Flight delay insurance | Covers purchases that must be made during travel due to short-term flight delays (i.e. if a connecting flight is cancelled due to poor weather and you require a place to stay, some or all of your accommodations may be reimbursed). |
| Lost baggage | The loss of your luggage by a carrier, such as an airline or cruise line. Coverage is often capped and will not apply to all items. |
| Delayed baggage | In the event your checked-in baggage does not arrive on schedule, you may be reimbursed some or all of the cost of essential items you purchase in the meantime. |
Overall best travel insurance credit card
Best for Groceries & dining
based on spending $2,200/mo after $120 annual fee
- Earn rewards
1pt – 6pts / dollar spent
- Welcome bonus
45,000 points (a $450 value)
- Annual fee
$120
Perks of the Scotiabank®* Gold American Express® Card
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $1,000,000 for 25 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $65,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Up to $1,500 per person | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Up to $1,500 per person | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Up to $500 coverage per person | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Up to $1,000; delays over 4 hours | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Up to $1,000; delays over 4 hours | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Up to $1,000 per occurence | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Covered for 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points.¹
- Earn 6x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, Freshco, Foodland and more
- Earn 5x Scene+ points¹ for every $1 you spend on dining, food delivery and other eligible grocery stores. Includes popular food delivery and food subscriptions
- Earn 5x Scene+ points¹ for every $1 you spend in Canada eligible entertainment purposes. Includes movies, theatre and ticket agencies stores.
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible gas and daily transit options. Includes rideshares, buses, subway, taxis and more
- Earn 3x Scene+ points¹ for every $1 CAD you spend in Canada on eligible select streaming services
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
- No Foreign Transaction Fee
- Comprehensive Travel Insurance coverage
- AMEX Offers®
- AMEX Front of the Line®
- American Express Invites®
- Complimentary Concierge Services
- Rates, fees and other information are effective as of January 3, 2025. Subject to change.
Ratehub’s take
The Scotiabank Gold American Express Card earns an honourable mention as one of the best overall travel credit cards for the outstanding benefits it offers to cardholders. This card stands out as a top choice, thanks to its exceptional return on spending and a variety of travel-related perks. This card is particularly useful for those who dine out often, travel, and enjoy entertainment.
Pros
- No foreign exchange fee: Save on foreign currency purchases while travelling abroad or shopping online, as this card doesn’t charge the typical 2.5% foreign transaction fee
- Extensive insurance coverage: Enjoy comprehensive travel insurance, including the $1 million travel medical insurance, which lasts for 25 days and is one of the longer coverage periods available on the market
- High return on spending: Earn five points per $1 spent on groceries, restaurants, food delivery, and entertainment – one of the best in class multipliers in the market. Earn three points per $1 spent on gas and transit expenses
Cons
- Limited acceptance: American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
- Annual Fee: This card carries an annual fee of $120
- Fixed point values: Although earn rates are high, travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with other cards
- Airport lounge access is not free: Although you’ll get a discount on a Priority Pass membership for airport lounge access, lounge visits aren’t included with the card
Eligibility requirements
Minimum credit score: 725
Minimum income: $12,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Travel insurance details
These travel insurance benefits are applicable when at least 75% of trip expenses, or the full cost, is charged to your Scotiabank Gold American Express Card:
| Coverage | Amount | Terms |
| Travel emergency medical | Up to $1 million | Up to 25 consecutive days (3 days for age 65+) |
|---|---|---|
| Travel accident | $500,000 per person / $1 million per occurrence | |
| Trip interruption | $1,500 per person, up to $10,000 | Charge at least 75% of trip costs to your card |
| Trip cancellation | $1,500 per person, up to $10,000 | |
| Flight delay | $500 per person | Charge the full ticket cost to your card |
| Baggage delay | $1,000 | For delays of 4+ hours |
| Lost or stolen baggage | $1,000 per trip | |
| Hotel burglary | $1,000 | For hotels/motels in Canada or the US only |
| Rental car theft or damage | Up to $65,000 | For rentals of 48 days or less |
The travel insurance included with the Scotiabank Gold American Express is above average. The $1 million travel medical insurance lasts for 25 days, which is one of the longer coverage periods you’ll get. Your insurance also includes hotel burglary insurance up to $1,000 per person for accommodations booked in Canada and the US.
Find Canada’s best cards suited for you in 60 seconds! View cards and offers you’re likely to qualify for without affecting your credit or needing a SIN.
Honourable mention
Best for Travel perks
based on spending $2,200/mo after $150 annual fee
- Earn rewards
1pt – 3pts / dollar spent
- Welcome bonus
30,000 points (a $300 value)
- Annual fee
$150
Perks of the Scotiabank Passport™ Visa Infinite* Card
| Perks | Details | |
|---|---|---|
| Lounge access | Includes 6 visits per year | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person ($1 million total) | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $2,000,000 for 25 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $65,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Up to $1,500 per person | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Up to $2,500 per person | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Up to $500 coverage per person | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Combined maximum $1,000 | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Up to $1,000; delays over 4 hours | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | $60,000 lifetime limit | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
Ratehub.ca’s 2024 Credit Card Award Winner
- Earn up to $1,300* in value in the first 12 months, including up to 40,000 bonus Scene+ points¹
- Earn 3x Scene+ points¹ on every $1 you spend at Sobeys, Safeway, IGA, Foodland and participating
Co-ops and more - Earn 2x Scene+ points¹ for every $1 you spend on other eligible grocery stores, dining, eligible entertainment purchases and eligible daily transit options (including rideshares, buses, subways taxis and more)
- Plus earn 1 Scene+ point for every $1 spent on all other eligible everyday purchases
- Earn additional benefits + up to 4X Scene+ points for every dollar you spend on hotel bookings, car rentals, and things to do with Scene+ Travel, Powered by Expedia
- No Foreign Transaction Fee
- 6 Complimentary Airport Lounge Access
- Comprehensive Travel Insurance coverage
- Visa Infinite* Concierge Services
- Visa Infinite* Hotel Collection
- Visa Infinite* Dining and Wine Country program
- Rates, fees and other information are effective as of January 3, 2025. Subject to change.
Ratehub’s take
The Scotiabank Passport Visa Infinite card makes a great vacation companion, designed for Canadians who travel abroad and explore the world. It is one of the few cards that covers foreign transaction fees, and also includes valuable travel benefits like airport lounge access.
Pros
- No foreign transaction fee: Save 2.5% on all non-Canadian currency purchases
- Scene+ points: Earn three Scene+ points per $1 spent at participating grocery stores (e.g., Sobey’s, IGA, and FreshCo) and two Scene+ points per $1 spent on eligible grocery, dining, entertainment, and daily transit purchases
- Flexible redemption: Enjoy flexible point redemption options including for travel, groceries, statement credits, gift cards, and movie tickets
- Airport lounge access: Access airport lounges with six free visits per year to over 1,200 lounges worldwide
- Visa Infinite benefits: Benefit from the Visa Infinite Luxury Hotel Collection, Visa Infinite Dining series, and complimentary Avis Preferred Plus membership
- Comprehensive travel insurance: Enjoy coverage for emergency medical, trip cancellation/interruption, flight delays, and more
Cons
- Annual fee: The annual fee of $150 is higher than some comparable cards
- Low point return: The earn rate for certain spending categories like dining and entertainment is lower compared to other cards
- Consistent point values: Travel points are always worth one cent per point and you can’t transfer your points to other airline rewards programs like you can with some Amex cards
Eligibility requirements
Minimum credit score: 725
Minimum income: $60,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.99%
Balance transfer: 22.99%
Travel insurance details
These travel insurance benefits are applicable when at least 75% of trip expenses, or the full cost, is charged to your Scotiabank Passport Visa Infinite card:
| Coverage | Amount | Terms |
| Travel emergency medical | Up to $2 million | Up to 25 consecutive days (3 days for age 65+) |
|---|---|---|
| Travel accident | $500,000 per person / $1 million per occurrence | |
| Trip interruption | $2,500 per person, up to $10,000 | Charge at least 75% of trip costs to your card |
| Trip cancellation | 1,500 per person, up to $10,000 | |
| Flight delay | $500 per person | Charge the full ticket cost to your card |
| Baggage delay | $1,000 | For delays of 4+ hours |
| Lost or stolen baggage | $1,000 per trip | |
| Hotel burglary | $1,000 | For hotels/motels in Canada or the US only |
| Rental car theft or damage | Up to $65,000 | For rentals of 48 days or less |
While the Scotiabank Passport Visa Infinite owes much of its popularity to the fact it’s one of the few credit cards in Canada with no foreign transaction fees, this card also features top-notch travel insurance perks. Similar to the Scotiabank Gold American Express, this card offers $1,000,000 in travel medical insurance for 25 days and $500,000 in travel accident insurance (as well as $1,000 in hotel burglary insurance). This card also has baggage delay coverage of $1,000 that kicks in after only 4 hours.
On a side note that’s unrelated to travel insurance but may sway you to choose this card over the others on this list: The Scotiabank Passport Visa Infinite offers superior airport lounge access benefits with a complimentary membership and six free passes to Priority Pass lounges.
Best travel credit card for medical insurance
Best for Travel perks
based on spending $2,200/mo after $150 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Welcome bonus
100,000 points (a $667 value)
- Annual fee
$150
Perks of the BMO Ascend™ World Elite®* Mastercard®*
| Perks | Details | |
|---|---|---|
| Lounge access | Includes 4 visits per year | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $5,000,000 for first 21 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $65,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Up to $1,500 per person | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Up to $2,000 per person | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Up to $2,000 per person | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | $500; delays 6 hours or more | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | $500; delays 6 hours or more | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Covered for 90 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Welcome offer: Get up to 100,000 points and the annual fee waived in your first anniversary for both the primary cardholder and authorized users.*
- 5x the points for every $1 spent on eligible travel purchases,* 3x the points for every $1 spent on eligible dining and entertainment purchases and recurring bill payments,* 1 point for every $1 spent everywhere else.*
- Unforgettable travel experiences start with our premium flexible travel credit card!
- Complimentary membership in Mastercard Travel Pass provided by DragonPass,* with four annual complimentary passes.
- Access over 1 million Wi-Fi hotspots around the world – all at no added cost, and no added fees or roaming charges*
- Get valuable benefits and offers for digital everyday services from a variety of on-demand apps and subscription services
- Points you can use to cover all flight charges & taxes*
- Fly on any airline, with no blackout dates*
- Best-in-class travel and medical insurance (unlimited trips per year)*
- Unlock Mastercard Travel Rewards cashback offers when you travel and shop outside of Canada
- Cash Advance & Balance Transfer Interest: 21.99% for Quebec residents
- BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information
- *Terms and conditions apply
- †Statement based on a comparison of the redeemable value of the non-promotional travel rewards points earned on premium flexible Canadian credit cards as of May 3, 2022. “Flexible” is defined as points earned when you purchase travel anywhere and “premium” refers to cards with an annual fee of ≤ $150 or has an income requirement of ≤ $150,000 annual individual income.
Ratehub’s take
The BMO Ascend World Elite Mastercard is a top choice among seasoned travellers, particularly those who prefer a Mastercard, and who like to frequently fly and dine out. This card offers a suite of perks that cater to travel enthusiasts.
Pros
- Earn points: Earn three points per $1 spent on restaurant, entertainment purchases, and recurring bills, and one point per $1 spent on everything else
- Comprehensive insurance package: Recognized for one of the best insurance packages in the market, including $5 million in out-of-country insurance, exceeding the standard $1 million in coverage offered by most other cards
- 24/7 concierge services: Enjoy around-the-clock concierge services for your travel needs
- Airport lounge access: Receive complimentary membership in Mastercard Travel Pass, including four annual complimentary passes
- Redemption flexibility: Enhanced flexibility to redeem points for flights on virtually any airline with no blackout dates (points can be used to cover taxes and fees as well)
Cons
- Income requirements: The card’s minimum personal income of $80,000 may limit accessibility for some users
- Lower point value: While BMO points are flexible, they are worth less than other travel rewards programs (usually around 1 cent per point) at 0.67 cents per point
Eligibility requirements
Minimum credit score: 760
Minimum income: $80,000/yr
Interest rates
Purchase interest: 21.99%
Cash advance: 23.99%
Balance transfer: 23.99%
Travel insurance details
These travel insurance benefits are applicable when the full cost of travel expenses is charged to your BMO Ascend World Elite Mastercard:
| Coverage | Amount | Terms |
| Travel emergency medical | Up to $5 million | Up to 21 consecutive days (under age 65) |
|---|---|---|
| Travel accident | $500,000 | |
| Trip interruption | $2,000 per person | |
| Trip cancellation | $1,500 per person, up to $5,000 | |
| Flight delay | $500 per person | For delays of 4+ hours |
| Baggage delay | $500 | For delays of 6+ hours |
| Lost or stolen baggage | $500 per person, up to $1,000 per trip | |
| Hotel burglary | $1,000 | |
| Rental car theft or damage | Up to $65,000 | For trips up to 48 consecutive days |
The BMO World Elite Mastercard offers the full suite of insurance you’d expect from a top travel card, and in some cases, more. For one, it provides cardholders with $5 million in out-of-country insurance (versus the standard $1 million in coverage offered by most other cards). It also offers you $500 per person in delayed luggage insurance if it is more than 4 hours delayed.
While at first glance it’s disappointing that the BMO World Elite Mastercard offers no included insurance for people 65 or older, the optional insurance is actually quite good. For an annual fee of $249, those aged 65-69 get 31 days of medical protection while those aged 70-74 will have to pay $349.
Best travel credit card for seniors and snowbirds
based on spending $2,200/mo after $150 annual fee
- Earn rewards
1pt – 5pts / dollar spent
- Annual fee
$150
Perks of the National Bank World Elite® Mastercard®
| Perks | Details | |
|---|---|---|
| Lounge access | Not included | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | Not included | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | Included | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | Included | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | Included | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | Included | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Included | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Included | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Included | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Not included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Included | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Included | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Earn up to 5 points per dollar in eligible grocery and restaurant purchases*
- 2 points per dollar in eligible gas and electric vehicle charging purchases, recurring bill payments and À la carte (TM) travel purchases*
- 1 point per 1 dollar in other purchases
- Up to $150 each year in refund for travel expenses on airport parking fees, seat selection fees, baggage fees, airline ticket upgrades and access to airport lounges worldwide
- Free and unlimited access along with one (1) guest per cardholder to the National Bank Lounge at Montréal-Trudeau airport.
- Reassuring protection. Travel with peace of mind thanks to our comprehensive insurance coverage up to 60 days
- Out-of-province-of-residence medical/hospital insurance, Departure flight delay insurance, Baggage insurance in case of delay, Baggage insurance in case of theft or loss, Vehicle rental insurance
- Mobile devices insurance against theft or damages for a period of up to 2 years
- Medical, general and legal assistance
- Purchase protection in case of theft or damage*
- Extended Warranty*
- With the À la carte Rewards Plan® (the “À la carte Plan”), you earn points for every dollar on eligible purchases. These points may be exchanged for rewards such as merchandise, a travel package, a gift card, a travel discount, a donation, a financial product, repayment with rewards points or any other reward offered under the À la carte Plan.
Ratehub’s take
The National Bank World Elite Mastercard offers fantastic travel insurance coverage and features for seniors, making it a strong contender among travel credit cards. The trip insurance offers will save you money on your next vacation, plus, the strong points earnings you’ll get from the card could help you cover part or all of the cost of your next trip.
Pros
- Extensive travel insurance: Strong travel insurance, including extended emergency medical insurance coverage for seniors that will cover you for 15 days of travel plus trip cancellation or disruption and flight delay insurance, and more
- Travel expense refunds: Receive up to $150 each year in refunds for airport parking, seat selection, check-in fees, airline ticket upgrades and access to airport lounges worldwide
- Flexible redemption options: Combined with high earn rates on essentials like groceries, gas and dining, this card also provides flexible redemption options on everything from travel through their A La Carte portal or redeeming for travel booked through any provider
Cons
- Annual fee: The $150 annual fee is slightly higher than average for this type of card
- Lounge access limitations: The complimentary lounge access only applies to Montreal airport
- Income requirement: The annual income requirement of $80,000 may be a barrier for some users
- Points values are fixed: Point values remain the same regardless of your destination, so it may take longer to accumulate points for longer flights. Plus, your points are worth less for anything other than booking travel through the A La Carte platform
Eligibility requirements
Minimum credit score: 660
Minimum income: $80,000/yr
Interest rates
Purchase interest: 20.99%
Cash advance: 22.49%
Balance transfer: 22.49%
Travel insurance details
These travel insurance benefits are applicable when travel expenses are partially or fully charged to your National Bank World Elite Mastercard:
| Coverage | Amount | Terms |
| Travel emergency medical | Up to $5 million | Up to 60 consecutive days (under age 55), 31 days (age 55-65), or 15 days (age 65-75) |
|---|---|---|
| Travel accident | None | |
| Trip interruption | $5,000 per person | |
| Trip cancellation | $2,500 per person | |
| Flight delay | $500 per person | For delays of 4+ hours |
| Baggage delay | $500 per person | For delays of 6+ hours |
| Lost or stolen baggage | $1,000 per person | |
| Hotel burglary | None | |
| Rental car theft or damage | Up to $65,000 | For trips up to 48 consecutive days |
This card’s trip interruption and delay, lost baggage, and delayed baggage coverage is on par with the other cards listed here, but the National Bank World Elite Mastercard stands out for its medical coverage. It has an exceptionally high benefit amount (up to $5 million) and the longest coverage period for travel medical for all ages, including 15 days of coverage for people age 65-75. However, it doesn’t offer any travel accident coverage — this means you aren’t protected if you sustain bodily injury while occupying a common carrier, or while at the airport, terminal or station at the beginning/end of your trip.
An additional benefit to keep in mind is that you are covered for the insurance amounts above (with the exception of the rental car) as long as you partially pay for your travel arrangements with the card. Most other credit cards require you to pay the full fare.
Best premium travel insurance credit card
Best for Premium perks
based on spending $2,200/mo after $799 annual fee
- Earn rewards
1pt – 2pts / dollar spent
- Anniversary bonus
30,000 points (a $300 value)
- Annual fee
$799
Perks of the American Express® The Platinum Card®
| Perks | Details | |
|---|---|---|
| Lounge access | Complimentary access; 1,400 lounges | You’ll gain complimentary passes to airport lounges. The number of passes and lounges you have access to will vary. |
| Waived foreign transaction fees | Not included | A surcharge that credit card holders pay for purchases made in a foreign currency (typically 2.5%). |
| Travel accident insurance | $500,000 per person | If you suffer a loss as a result of an accidental bodily injury sustained while occupying a common carrier, you are eligible for this coverage. |
| Travel emergency medical | $5,000,000 for first 15 days (under 65) | If you require urgent medical care while on a trip outside of your home province, you will be covered for any eligible medical expenses incurred. |
| Car rental insurance | MSRP of up to $85,000, for 48 days | Credit card rental car insurance usually covers theft, loss and damage to your rental car in the case of an accidental collision. |
| Trip cancellation | $2,500 per person, $5,000 per trip | If you have to cancel your trip before it’s even started, your prepaid travel costs will be covered up to a maximum amount if the cause of cancellation is eligible for the insurance. |
| Trip interruption | $2,500 per person, $6,000 per trip | If your trip has to be cut short or is delayed after the scheduled departure date, you will be covered up to a maximum amount for an eligible cause of interruption or delay. |
| Flight delay insurance | Up to $1,000; delays over 4 hours | If your flight departure is delayed by a certain number of hours, you’ll be reimbursed a certain amount for necessary and reasonable expenses. |
| Baggage loss insurance | Combined maximum $1,000 | If your checked bag cannot be located by a common carrier, you’ll be reimbursed for a portion of the replacement cost of lost personal property. |
| Baggage delay insurance | Up to $1,000; delays of 6 hours or more | If your checked bag is not delivered within a specified time upon your arrival, you’ll be reimbursed for the cost to replace essential items. |
| Hotel/motel burglary | Included | Provides protection, while you’re checked in, for your personal belongings when left unattended in your room up to a certain dollar amount. |
| Mobile insurance | Not included | Reimburses a portion of your cell phone in the event it’s damaged or lost. Device coverage is limited to a certain period of time after purchasing with your credit card. |
| Purchase assurance | Up to $1,000 within 120 days | Automatically protects new purchases by insuring them for 90 days from the date of purchase in the event of loss, theft or damage. |
| Extended warranty | Up to one additional year | Either doubles the length of the item’s manufacturer’s warranty coverage or extends it by 1 year, whichever is less. |
| Price protection | Included | If, within a certain amount of time of purchasing an item, its price drops or you find an identical item offered for a lower retail price than what you paid, you will be reimbursed for the difference. |
Other perks
- Ratehub.ca’s 2023 Award Winner – Best Perks Credit Card
- Unlock special experiences with the Platinum Card®
- Earn up to 100,000 Membership Rewards® points – that’s up to $1,000 towards a weekend away
- New Platinum® Cardmembers, earn 70,000 Welcome Bonus points after you charge $10,000 in net purchases to your Card in your first 3 months of Cardmembership
- Plus, earn 30,000 points when you make a purchase between 14 and 17 months of Cardmembership
- Earn 2 points for every $1 in Card purchases on eligible dining and food delivery in Canada, 2 points for every $1 in Card purchases on eligible travel, and 1 point for every $1 in all other Card purchases
- Access a $200 Annual Travel Credit through American Express Travel Online or Platinum® Card Travel Service
- Enjoy a $200 Annual Dining Credit at some of Canada’s best restaurants
- Unlock $200 or more in additional value with Member extras. You can earn statement credits for qualifying purchases with participating brands
- Take full advantage of The American Express Global Lounge CollectionTM which unlocks access to over 1,400 airport lounges worldwide. This includes The Centurion® Lounge network, Plaza Premium Lounges, and hundreds of other domestic and international lounges designed to enhance your travel experience
- Enjoy flexible ways to use your points such as statement credits for any eligible purchase charged to your Card, new travel purchases booked on American Express Travel Online through the Flexible Points Travel Program, and eligible flights through the Fixed Points Travel Program
- Transfer points 1:1 to several frequent flyer and other loyalty programs
- Enjoy complimentary benefits that offer an average value of $600 USD at over 1,500 extraordinary properties worldwide when you book Fine Hotels + Resorts
- Platinum Cardmembers can enjoy access to special events and unique opportunities
- Enjoy premium benefits at the Toronto Pearson Airport
- You will also have access to many leading hotel and car rental companies’ loyalty programs. Our partners include Marriott International, Hilton Hotels and Resorts, Hertz and Avis
- Interest applies in accordance with your Cardmember Agreement, Information Box, and Disclosure statement if the total New Balance is not paid by the Payment Due Date each month. All payments must be received by the Payment Due Date shown on the monthly statement
- American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, (I/we) may receive compensation from American Express, which can be in the form of monetary payment
Ratehub’s take
While the American Express Platinum card’s annual fee is steep, the premium travel perks arguably outweigh the cost to use it. You’ll enjoy free, unlimited airport lounge access (while most other cards only offer a free membership or a few passes per year), hotel upgrades, a valuable annual travel and dining credit, and more.
Pros
- Unlimited lounge access: Enjoy free, unlimited lounge visits at over 1,400 lounges across the world with the
- American Express Global lounge collection
- Strong travel insurance offering: Includes everything from out-of-province emergency medical to $500,000 travel accident insurance
- Stretch your points values further: Transfer points to other travel loyalty programs at a 1:1 ratio for increased value and flexibility
- Upgraded gold hotel status with Marriott Bonvoy and Hilton Honors and deals on car rentals through American Express Online
Cons
- Very high annual fee
- Doesn’t waive foreign transaction fees, which can really add up when you’re traveling
- This is a charge card, so you’ll have to pay off whatever you spend in full each month or face a high interest rate
- American Express isn’t as widely accepted in Canada compared to Visa and Mastercard
Eligibility requirements
Minimum credit score: 725
Minimum income: $30,000/yr
Interest rates
Purchase interest: N/A
Cash advance: N/A
Balance transfer: N/A
Travel insurance details
These travel insurance benefits are applicable when travel (flight, accommodation, rental car, etc.) is fully charged to your Amex Platinum card:
| Coverage | Amount | Terms |
| Travel emergency medical | Up to $5 million | Up to 15 days (under age 65) |
|---|---|---|
| Travel accident | $500,000 | |
| Trip interruption | $2,500 per person, up to $6,000 | |
| Trip cancellation | $2,500 per person, up to $5,000 | |
| Flight delay | $1,000 | For items purchased within 48 hours when delayed or denied boarding for 4+ hours |
| Baggage delay | $1,000 | For delays of 6+ hours |
| Lost or stolen baggage | $1,000 per trip | |
| Hotel burglary | $1,000 | |
| Rental car theft or damage | Up to $85,000 | For rentals of 48 days or less |
For a premium travel card, the American Express Platinum Card offers comprehensive travel insurance in addition to unique travel perks and a great rewards system. While the emergency travel medical coverage amount is significant, you are only covered for what is considered a short period of time. However, this card stands out for higher than average coverage for trip interruption, trip cancellation and rental car theft and damage.
How does credit card travel insurance work?
Many travel rewards credit cards include travel insurance coverage as a benefit. Typically, as long as you charge part or all of your travel purchases to the credit card, the relevant insurance coverage will be automatically activated. Make sure to read your credit card’s certificate of insurance to understand the types of travel insurance included, your eligibility for coverage, and any limitations and exclusions.
FAQ
Does credit card travel insurance have age restrictions?
For many credit cards with travel insurance, their coverage sadly doesn't extend to users over the age of 65. That being said, certain credit cards offer some travel insurance for seniors. National Bank's World Elite Mastercard, for example, covers users 65+ for travel medical up to 15 days. There's also the Scotiabank Passport Visa Infinite, which covers those 65 and over for 10 days.
Does my credit card come with travel insurance?
While most travel rewards cards offer some form of travel insurance, not every credit card does. Generally, the higher a card's annual fee, the more perks and benefits you'll get with it, and this usually includes extras like travel insurance. Customers who have no-fee or instant-approval cards may be out of luck.
If you're unsure whether your card comes with travel insurance, read up on its details on the provider website or call a customer service representative. They'll be happy to give you details on any insurance benefits attached to your card.
Will my credit card travel insurance cover pre-existing conditions?
Unfortunately, we aren't aware of any credit cards in Canada that provide coverage for those with pre-existing conditions. You may want to look for more specialized travel insurance for pre-existing conditions.
Does credit card travel insurance cover all passengers?
It depends on the terms of your travel insurance — you’ll need to check your certificate of insurance to see who is covered in what scenarios. Often, in addition to yourself, your credit card travel insurance will only consider your immediate family members like your spouse and dependent children to be “Insured Persons”. They may be covered if their travel expenses are charged to your card.
What are the most common travel insurance claims?
According to surveys and insurer data from around the world, the top 4 most common travel insurance claims are for medical emergencies, trip cancellation, travel delays, and lost/damaged/stolen luggage. You’ll want to ensure you have adequate coverage in these areas when travelling.
Which credit cards offer the best travel insurance?
The best travel insurance credit card is the Scotiabank Gold American Express card because it offers generous travel medical protection for up to 25 days (while other cards only offer 15 day coverage), has a high coverage amount for trip cancellation and trip delay protection, and offers extra coverage for rental cars and delayed or lost baggage. Another option for the best travel protection credit card is the American Express Platinum card. For a much higher annual fee, you will get similar travel insurance benefits but more travel perks like unlimited airport lounge access. Keep in mind that with both options, you'll have to charge at least part or all of the trip or ticket costs to your credit card to be eligible for coverage.
What should I do if my flight is cancelled due to a strike?
If your flight is cancelled due to a strike, it's important to know you are owed a full refund or rebooking but you're not always entitled to compensation. If you are denied compensation you can file a complaint with the Canadian Transportation Agency through the agency's online form.
Large airlines (like Air Canada) are required to rebook you with 48 hours of your original departure time on its own next available flight, or an affiliated airline. If the airline does not provide a refund, then you are able to turn to travel insurance from their credit card.
Do credit cards offer flight cancellation insurance?
If you had to cancel a flight ahead of time due to a covered reason like a medical emergency, and your credit card covers you for trip cancellation, then you may be reimbursed. If an airline cancels your flight for any reason, on the other hand, you will likely be entitled to compensation under Air Passenger Protection Regulations. Credit card trip cancellation or trip delay insurance likely won’t cover costs when the airline cancels your flight, unless it was due to reasons like weather conditions or a natural disaster.
According to The Canadian Transportation Agency, if an airline cancels or delays your flight for a reason that is within or outside of their control, the airline must “rebook you on their next available flight, or on a flight of an airline with which they have a commercial agreement.” If this is not possible, you could be entitled to a refund. Be sure to reach out to both the airline and the Canadian Transportation Agency for further assistance.
How do I get a refund in the event of a bankruptcy?
If your chosen airline cancels your flight for reasons like bankruptcy in the case of Lynx Air, or because of a lack of passengers on your chosen flight, your credit card’s insurance most likely will not compensate you for your ticket because that is the airline’s responsibility. It’s a good idea to contact the bank or financial institution that issues your credit card as soon as possible to find out what applies to you.
In the case of a bankrupt airline like Lynx Air, where the airline has said it will not be able to compensate its customers, it is likely that a credit card provider like Visa or Mastercard will offer a chargeback after your scheduled flight date. A chargeback is when a credit card provider reverses a transaction, because the service wasn’t actually provided.
How to apply for a travel insurance credit card
Once you decide to apply for a travel insurance credit card, you'll quickly see that the process is similar to any other credit card application. That being said, there are a few particular things to remember:
- Age and residency: To be approved for any credit card in Canada, you'll need to be both a Canadian resident and the age of majority in your province or territory. The age of majority is 18 in six provinces (Alberta, Manitoba, Ontario, Prince Edward Island, Quebec, and Saskatchewan), while it goes up to 19 in four provinces and the three territories: British Columbia, New Brunswick, Newfoundland, Northwest Territories, Nova Scotia, Nunavut, and Yukon.
- Credit score: If you want to be approved for nearly any travel credit card in Canada, a good credit score is very important. Having a good-to-excellent credit score opens doors for you, and that's not just limited to credit cards.
- Annual income: Similar to their credit score requirement, many travel cards that carry perks and insurance benefits will ask you to have a minimum annual household income for approval. This can vary depending on the card, but most higher-tier travel cards require applicants to have a minimum personal annual income of at least $60,000 to be considered. This is something else to be sure of before you apply, as you don't want your credit score taking a hit after a rejected application.
Benefits of a credit card with travel insurance
Significant savings
Using the insurance benefits included in your travel credit card can save you hundreds or even thousands of dollars, depending on your trip.
For example, on average, insurance for a rental car would cost you roughly $30 a day. On a two-week trip, that adds up to a total of $420. Factor in other insurance benefits on your card such as trip delay/cancellation, travel medical insurance, and lost/delayed baggage, and that's a lot of money you can save (or re-purpose for something much more fun).
Worry-free vacations
Perhaps the best advantage of having a travel insurance credit card is the feeling of knowing you are insured across the board when you're vacationing away from home. Not only do you get peace of mind, but you avoid the added hassle of having to acquire different types of insurance from different sources (your car rental agency, bank, airline, etc).
Drawbacks of a travel insurance credit card
Better coverage = higher fees
While you may enjoy excellent insurance coverage on your travel credit card of choice, it won't come cheap. Unsurprisingly, the better your protection is, the more you're going to pay in annual fees.
Your coverage is tied to your card
Another drawback of travel insurance credit cards is that, for any of this excellent coverage to apply, the purchases need to be made with the card in question. This means that you'll be putting all of your travel expenses on one card, so make sure that you've got a high credit limit and the card you're using has excellent cash back or points value. That way, you'll at least get something back for all that spending.
Insurance (usually) doesn't apply to rewards
One thing that's important to keep in mind: in most cases, your credit card's travel insurance will not cover purchases made using rewards. That includes airfare, accommodations, and car rentals. However, there's exceptions to every rule, so be sure to ask your provider.
Travel cards are made for frequent travellers
To get the most out of your card's extensive travel insurance (and high fees), you'll have to be travelling quite frequently. Business travellers and retirees who vacation multiple times a year should feel that it's a good trade off, but if you're someone who only goes away for a couple of weeks every summer, it may not be worth it to pay $150 or more per year.
Credit card travel insurance: things to remember
Know your policy
For many types of travel insurance, it's important to understand the details of your policy, as they contain information that could prevent you from getting the coverage you've been promised.
For instance, when booking a rental car, you'll need to charge the entire cost to your card and reject the rental company's collision insurance to get the coverage from your credit card provider. Failing to do this means they won't be responsible for any damages.
There's also the fact that credit card travel insurance won't cover third-party liability, meaning that, unless you buy additional liability insurance from a separate provider, you'll be on the hook in the event of an accident.
Know the length of your coverage
One detail that can be easily overlooked is the length of coverage. While most areas of credit card travel insurance provide a long-enough window for the average vacation, in some cases you may want to take out an additional travel insurance policy to supplement the one attached to your credit card. As an example, those 65 and older with travel medical insurance on their card may unfortunately have a shorter window of coverage, meaning they would need to bolster their existing plan with an additional policy if they're planning on remaining abroad longer than their initial insurance lasts.