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Trip Cancellation Insurance: You’re Covered With These Cards

Charlotte Sinclair

Everyone gets excited when they’re about to go on vacation. But not everyone can foresee possible complications that may arise, such as when a trip needs to be cancelled. This can be costly due to prepayment and non-refundable policies. Luckily, if your credit card travel insurance includes trip cancellation insurance, you’re likely covered for some of these costs.

Trip cancellation insurance will reimburse prepaid expenses up to a fixed amount in the event you must cancel a trip prior to departure. The cause of cancellation must be valid under the insurance provider’s policy in order to be eligible for coverage. The important thing to pay attention to with trip cancellation insurance is the amount of coverage you’re eligible for and also what causes are eligible to receive coverage.

This can be an advantageous feature to have when booking a vacation. In order to receive this benefit, you’ll need to pay for at least part of the trip using your credit card.

Here’s a look at a couple cards that offer trip cancellation coverage:

Scotiabank Gold American Express Insurance

Card details

  • Coverage up to $2,500 per person and $10,000 per trip
  • Required to pay for at least 75% of trip with your credit card
  • Eligible expenses include cost of transportation, accommodations, and package tours that aren’t refundable or reimbursable

With the Scotiabank Gold American Express credit card, you’re eligible to receive up to $2,500 per person or $10,000 per trip. Coverage can be applied to you, your spouse, and dependent children as well as one travelling companion. You must pay for at least 75% of the trip with your credit card in order to receive coverage. Be sure to look at the details regarding eligible causes of cancellation and details for reimbursement before booking a trip.

BMO World Elite MasterCard Insurance

BMO World Elite MasterCard


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  • Coverage up to $2,500 per person and $5,000 per trip
  • Must pay full or partial cost of the trip using your credit card
  • Contact insurance provider within 48 hours of the event that caused you to cancel

If you have the BMO World Elite MasterCard, you’re covered for up to $2,500 per person and $5,000 per trip if you find yourself in the position where you have to cancel your trip. Some of the expenses will be covered given that the reason for cancellation is considered valid under the MasterCard travel insurance policy. Be sure you have a good understanding of what’s covered prior to booking a trip.

Also read:

Flickr: atgw


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