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MasterCard World Elite Travel Insurance

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World Elite gives you access to a number perks that may not typically be included on your credit card. World Elite credit cards tend to be excellent cards for travel and a great bonus feature is the added travel insurance. This is definitely a notable benefit that can play a role in selecting a World Elite MasterCard. Travel insurance will vary between credit card providers. Some offer a wider range in coverage, while others will offer a higher degree of coverage for each type of insurance. Make sure to research which MasterCard credit cards provide insurance and how much insurance they provide. Choosing the right credit card for you can save you the costs of purchasing additional travel or purchase insurance as well as the cost you may incur with no insurance.

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There are a number of great options if you’re looking for a World Elite Mastercard. If travel insurance is important to you, we recommend either the BMO World Elite MasterCard or the WestJet RBC World Elite MasterCard. Here’s a look at what each card offers:

Insurance Type BMO World Elite MasterCard WestJet RBC World Elite MasterCard
Travel Medical Insurance  $2 million
21 days (under 65)
Unlimited
15 days (under 65)
3 days (over 65)
Travel Accident insurance  Up to $500,000 Up to $500,000
Trip Cancellation Insurance  $2,500 per person
$5,000 per trip
Not available
Trip Interruption and Delay Insurance  $2,000 per trip $5,000 per person
$25,000 per trip
Car Rental Collision Damage Waiver Insurance  Up to $65,000 Up to $65,000
Flight Delay Insurance  $500 per trip
(6+ hour delay)
$250 per person
$500 per trip
(4+ hour delay)
Lost Baggage Insurance  $750 per person
$2,000 per trip
$500 per person
$2,500 per trip
Baggage Delay Insurance  $200 per person
(12+ hour delay)
$500 per person
$2,500 per trip
(4+ hour delay)
Hotel/Motel Burglary Insurance  Not available $2,500 per occurrence
Purchase Security Insurance  Within 90 days of purchase
lifetime maximum of $60,000
Within 90 days of purchase
lifetime maximum of $50,000
Extended Warranty Insurance  Up to one year Up to one year
Price Protection Insurance  Not available Not available
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Here are the different types of insurance offered by credit card providers:

 

Travel medical insurance

Travel medical insurance will protect you in the event that you, your spouse, or any dependent children require medical treatment while you’re on vacation. You’ll be able to rest easy knowing that you and your family are protected from many unexpected medical expenses. The insurance coverage typically extends over a set time period and with a maximum coverage amount. For example, if you fall while on vacation and you require stitches, your travel medical insurance will help you pay all the hospital bills associated with your injury.

Travel accident insurance

Travel accident insurance will cover you, your spouse, and dependent children in the event that someone suffers a loss as a result of bodily injury while occupying a common carrier vehicle (for example, a plane or train) or at an airport, terminal, or station. A physical loss may include the loss of life, speech, hearing, or limbs. Travel accident insurance is essentially a form of life and disability insurance that only applies when you’re occupying a common carrier.

Trip cancellation insurance

Trip cancellation insurance can come in handy when you need to cancel a trip due to unforeseen circumstances. One instance where you may need to use this insurance is if you become injured and you’re no longer able to travel (for example, you have adverse reactions to vaccinations required for your trip). The last thing you want is have all that money you spent go to waste. With trip cancellation insurance, you don’t need to worry. Instead, you can start planning another vacation with the money you were reimbursed. There are a number of eligible causes for cancellation that’ll be outlined by individual insurance providers. The insurance will only apply to nonrefundable expenses up to a given amount. Be sure to review your personal insurance policy so you have a good understanding of what’s covered and what’s not covered.

Trip interruption and delay insurance

Trip cancellation insurance applies when you have to cancel or delay part of a trip due to unforeseen circumstances. This could be anything from an injury that prohibits you from continuing your trip to weather conditions that cause you to miss a connecting flight. You’ll be reimbursed for any non-refundable expenses up to a maximum amount when the cause is eligible to receive coverage.

Car rental collision damage waiver insurance

Credit card rental car insurance will help cover the cost of damages or theft that occurs when you’re in possession of a rental vehicle. This insurance doesn’t include liability insurance and only extends to a maximum coverage amount. This means that you and the rented vehicle are covered in the event the car is damaged or stolen, regardless of whether or not it’s your fault. However, it doesn’t provide coverage for the damage done to other cars, people, or property. For example, if you’re trying to park and you hit the curb, the damage to the rental car is covered. But if you hit another vehicle, the damage to the other car isn’t covered. This is the most important thing to be mindful of when you’re depending on the rental car insurance provided by your credit card.

Flight delay insurance

Flight delay insurance helps cover some of the additional expenses that arise when your flight is delayed for an extended period of time. Typically, the flight must be delayed several hours in order to receive this coverage (for example, if there’s severe weather and your return flight is unable to take off until the next day). Flight delay insurance will help cover expenses such as meals and accommodations. You can expect the insurance provider will reimburse you for necessary and reasonable expenses that occur within the delay period. Note that there will be a maximum reimbursement amount.

Lost luggage insurance

Lost luggage insurance provides compensation when your baggage is lost or damaged while in possession of the common carrier. Although it may be extremely frustrating to have your personal belongings lost or stolen, with this insurance you won’t have the additional frustration of the expenses that will be lost as a result. Note that the insurance will only cover up to a maximum amount and will include a list of excluded items that you should review carefully.

Baggage delay insurance

Baggage delay insurance reimburses you for your expenses when you arrive at your destination and your bags don’t arrive at the same time. It’s possible that on a flight with multiple connections your luggage doesn’t get transported on time or correctly. If you end up waiting hours for your bag to arrive, delayed baggage protection will reimburse you for expenses such as toiletries and clothing. The insurance will only cover essential items up to a specified amount and made within a given time of the flight’s arrival. This applies any time you have checked your luggage with a common carrier.

Hotel/motel burglary insurance

Hotel/motel burglary insurance provides protection from possible theft or damage of personal items while checked into your accommodations. But there are limitations to what items are covered and there must be visible signs of forced entry.

Purchase security insurance

Purchase security insurance protects the purchases you make for a given time period after you make the purchase in the event that the item is lost, stolen, or damaged. There are limitations to which items you can claim and the eligible causes for the loss, theft, or damage of the item that you should be aware of prior to relying on your insurance.

Extended warranty insurance

Extended warranty insurance predictably will extend your warranty for up to one year. This can add protection to your purchases without having to pay for additional warranty insurance.

Price protection insurance

If within a given time period you find a recently purchased item at a reduced price or an identical item at a lower price, you can use price protection insurance to reimburse the difference. There’s typically both a minimum and maximum reimbursement amount.

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