Best travel insurance credit cards in Canada

Barry Choi Contributor
Sandra MacGregor Freelance Contributor

Fact checked by Tyler Wade

Updated Jan 24, 2025

Planning on traveling? Use credit card travel insurance from these cards to save money. Find out which one best suits your travel needs.

While we adhere to strict editorial guidelines, partners on this page may provide us earnings.

Travel insurance can save you thousands should you find yourself injured abroad or if your flight or baggage gets delayed or lost.

Credit card travel insurance can help you cover any unforeseen expenses that may arise during your trip, such as trip interruptions, baggage delay and medical emergencies.

Here are the top travel insurance credit cards in Canada. And don't forget to check out our Best Credit Cards Canada list when you're done.

Methodology

  • Why you can trust Money.ca's best travel insurance credit cards in Canada list

    +

    Money.ca rates all credit cards on a numeric scale of 1 to 5 stars, with 1 being the lowest and 5 the highest rating, respectively. Money.ca’s proprietary scoring formulas break down the confusing language, complex points, rewards and earn rates to give you the real data that caters to your needs first, not ours.

    Our partnerships have no impact on our ratings, which are solely determined by the merits of each card. To learn more about how we researched and ranked these cards, read our full credit card review methodology.

Summary

Compare the best Canadian credit cards with travel insurance

Travel insurance credit card Card benefits Apply now
TD Aeroplan Visa Infinite Annual fee: $139
Insurance strengths: Hotel/Motel Burglary†
Insurance weaknesses: None 		Apply now
Scotiabank Passport® Visa Infinite* Card  Annual fee: $150
Insurance strengths: Delayed/lost baggage
Insurance weaknesses: None 		Apply now
Rogers Red World Elite® Mastercard® Annual fee: $0
Insurance strengths: No annual fee
Insurance weaknesses: No delayed/lost baggage, flight delay, hotel/motel burglary, or common carrier coverage 		Apply now
BMO Ascend World Elite®* Mastercard®* Annual fee: $150 (first year waived)
Insurance strengths: Personal Effects coverage
Insurance weaknesses: No hotel/motel burglary coverage
Apply now
Amex The Platinum Card® Annual fee: $799
Insurance strengths: Car Rental; Flight Delay
Insurance weaknesses: Could be better relative to annual fee 		Apply now
CIBC Aeroplan® Visa Infinite Privilege* Card Annual fee: $599
Insurance strengths: Car Rental;
Medical for 65+
Insurance weaknesses: none 		Apply now
Scotiabank Platinum American Express® Card Annual fee: $399
Insurance strengths: Senior emergency medical
Insurance weaknesses: none 		Apply now
Scotiabank Gold American Express® Annual fee: $120
Insurance strengths: Trip cancellation/Trip interruption
Insurance weaknesses: none 		Apply now
CIBC Aventura® Visa Infinite Privilege* Card Annual fee: $499
Insurance strengths: Emergency medical $5,000,000, $1,000 for lost stolen baggage, $85,000 car rental insurance
Insurance weaknesses: none 		Apply now
Best overall

Best travel insurance credit card in Canada

up to $1,300

Welcome Bonus

$436

First Year Value

$0

Annual Value

Welcome Bonus: Earn up to $1,300 in value† including up to 40,000 Aeroplan points† and no Annual Fee for the first year†. Conditions Apply.

Learn More Apply Now On TD's Secure Site

The TD® Aeroplan® Visa Infinite* Card is a popular choice among Aeroplan fans, who flock to the card’s big sign-up bonus and high earn rates on grocery and gas spending.

But the below-the-radar standout feature of the TD® Aeroplan® Visa Infinite* Card is its well balanced insurance package, which offers good coverage levels in every category travellers care about, and particularly impressive coverage against hotel/motel burglaries†—an insurance category that’s often left out from other travel cards. 

Most of the below coverages apply to the Primary Cardholder + their spouse and dependant child. An Additional Cardholder (supplementary cardholder) can also be covered when travelling on the same trip as the Primary Cardholder. Unless otherwise noted, most coverages apply if at least 75% of trip costs are either charged to the TD card and/or paid for with Aeroplan points.

  • This offer is not available for residents of Quebec. For Quebec residents, please click here.  

    The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button. Sponsored Content.

    †Terms and conditions apply.

TD Aeroplan Visa Infinite insurance coverage breakdown

Credit card insurance type Amount of coverage
Travel Medical† Up to $ of coverage for the first 21 days. If you or your spouse is aged 65 or older, you are covered for the first days of your trip. Additional top-up coverage is available.
Delayed and Lost Baggage† Up to $1,000 overall coverage per insured person toward the purchase of essentials such as clothes and toiletries if your baggage is delayed more than 6 hours or lost.
Trip Cancellation† Up to $1,500 per insured person, with a maximum of $5,000 for all insured persons on the same covered trip.
Trip Interruption† Up to $5,000 per insured person, with a maximum of $25,000 for all insured persons on the same covered trip.
Flight/Trip Delay† Up to $500 to cover reasonable expenses for meals, accommodation, and ground transit when delayed 4+ hours.
Auto Rental Collision/Loss Damage† Up to consecutive days of coverage on vehicles with a Manufacturer’s Suggested Retail Price (MSRP) of $65,000 or less.
Hotel/Motel Burglary† Up to $2,500 maximum payout per occurrence for eligible personal items stolen from your hotel or motel room.
Common Carrier† (travel accident insurance) Up to $500,000 for covered losses.
Mobile device insurance† Up to $1,000 against accidental damage and loss.

Disclosures

  • This offer is not available for residents of Quebec. For Quebec residents, please click here.  

    The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button. Sponsored Content.

    †Terms and conditions apply.
Best Scotiabank

Best Scotiabank travel insurance credit card

up to $1,300* value

Welcome Bonus

$926

First Year Value

$0

Annual Value

Welcome Bonus: Earn up to $1,300* in value in the first 12 months, including up to 40,000 bonus Scene+ points* Expires Jul 01, 2025

Learn More Apply Now On Scotiabank's Secure Site

The Scotiabank Passport® Visa Infinite* Card  is prized for its comprehensive travel insurance offerings, which include a delayed luggage benefit of $1,000 if your checked bag is delayed four hours or more (many other cards make you wait at least six hours before your delayed baggage insurance kicks in).

One of the most underrated coverages, flight delay insurance allows you to claim accommodations, meals, and personal items purchased after a lengthy delay. While many cards offer this coverage, Scotiabank Passport® Visa Infinite* Card provides a robust $500 per insured person towards expenses after just a 4-hour delay.

Note that Scotiabank made some changes to previous details of the coverage.

The emergency medical coverage went from covering people 65 and over for 10 days down to a mere 3 consecutive days, which is certainly not a good change for older Canadians.

On a more positive note, however, the maximum amount of medical coverage was increased significantly from $1,000,000 to $2,000,000. Coverage includes the cardholder, their spouse and dependant children. You must charge at least 75% of the trip to your card unless otherwise noted.

Disclosures

  • Rates, fees and other information are effective as of January 3, 2025. Subject to change.

    Conditions Apply. Visit here for the Scotiabank Passport® Visa Infinite* Card to learn more.

    *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

Scotiabank Passport Visa Infinite insurance coverage breakdown

Credit card insurance type Amount of coverage
Travel Emergency Medical Coverage for the first 25 consecutive days for those under 65 years of age and 3 days for those 65 years of age or older; $2,000,000 per person. No mention of requirement to charge trip to the card.
Delayed and Lost Baggage When you charge the full cost of your trip to your card, your lost luggage benefit is covered up to a combined max of $1,000; delayed luggage is $1,000 if checked luggage is not delivered within 4 hours of arriving at your destination.
Trip Cancellation Up to $2,500 per insured person, to a max of $10,000 per trip.
Trip Interruption Up to $2,500 per insured person, to a max of $10,000 per group, per trip.
Flight Delay Up to $500 to cover reasonable expenses for meals, accommodation, and ground transit when delayed 4+ hours.
Auto Rental Collision/Loss Damage Up to 48 days of consecutive coverage when you charge the full amount of your rental car to your card. Limited to vehicles up to $65,000 in value.
Hotel/Motel Burglary Charge the entire stay to your card and you’ll be covered worldwide, up to a maximum of $1,000.
Common Carrier Travel Accident Insurance Up to $500,000 per insured person; $1,000,000 per occurrence.
Best no fee

Best no fee travel insurance credit card in Canada

$349

First Year Value

$289

Annual Value

Learn More Apply Now On Rogers Bank's Secure Site

Despite having no annual fee, the Rogers Red World Elite® Mastercard® is one of the few Canadian credit cards that provides at least some travel insurance for those over the age of 64, offering 3 days of coverage for Canadians aged 65 to 75. The card also comes with trip interruption and cancellation insurance, as well as an impressive 31 days of rental car insurance—not bad for a no-fee card.

Coverage with the Rogers Red World Elite® Mastercard® includes the cardholder, their spouse and their dependant children.

Unless otherwise noted, you must charge the full cost of your trip to the card to be eligible for coverage.

Rogers Red World Elite Mastercard travel insurance coverage breakdown

Credit card insurance type Amount of coverage
Travel Emergency Medical Up to $1,000,000 of coverage for 10 days for ages 64 and under; 3 days for ages 65 to 75. No coverage for those over 75. The Certificate of Insurance explicitly states that “You do not need to charge your trip to the Mastercard to be eligible for this coverage, providing you are travelling outside your province or territory of residence and the Rogers Red World Elite Mastercard account is in good standing.”
Trip Cancellation
Up to $1,000 per insured person to a maximum of $5,000 per account, per trip.
Trip Interruption Up to $1,000 per insured person to a maximum of $5,000 per account, per trip.
Auto Rental Collision/Loss Damage Up to 31 days of consecutive coverage. Limited to vehicles up to $65,000 in value.
Delayed and Lost Baggage ❌
Flight Delay ❌
Hotel/Motel Burglary ❌
Common Carrier Travel Accident Insurance ❌
Best BMO

Best BMO credit card for travel insurance

up to 90,000 points

Welcome Bonus

$671.6

First Year Value

$0

Annual Value

Welcome Bonus: Get up to 90,000 points and the annual fee waived on your first anniversary for both the primary cardholder and authorized users.* Expires Jun 01, 2025

Learn More Apply Now On BMO's Secure Site

At first glance, the BMO Ascend™ World Elite®* Mastercard®*’s insurance offerings may appear middle-of-the-road for a premium card (especially for a card with an annual fee of $150). While it offers an impressive $5,000,000 in emergency medical insurance, there is no coverage whatsoever for those 65 and older.

Furthermore, the card doesn’t come with any hotel burglary insurance, which is arguably coverage you’d expect from a travel credit card with a higher-than-average annual fee, and you must wait 6 hours before you’re eligible for the baggage delay insurance. Where the card’s insurance offerings really shine is when it comes to coverage of personal effects—it’s one of the few cards in Canada that covers theft or damage to personal effects as part of its rental car insurance.

The card’s insurance applies to the cardholder, their spouse and dependant children. Unless noted otherwise, you must charge the full or partial cost of your trip to your BMO Ascend™ World Elite®* Mastercard®*. Note that the Certificate of Insurance does not define what “partial cost” means so it’s advisable to confirm how much you must charge to be covered with your provider.

BMO Ascend World Elite Insurance coverage breakdown

Credit card insurance type Amount of coverage
Travel Emergency Medical* Under age 65, up to 21 days of consecutive coverage. Covers up to $5,000,000. Does not mention if must charge trip to your card.
Delayed and Lost Baggage* Up to $500 per person up to a maximum of $1,000 per trip for lost, stolen or damaged baggage. Up to $500 for baggage delay of more than 6 hours.
Trip Cancellation* Up to $1,500 per person up to a maximum of $5,000.
Trip Interruption* Up to a max of $2,000 per insured person.
Flight Delay* Up to $500 per person per trip for flight delays of more than 4 hours.
Auto Rental Collision/Loss Damage* Up to 48 days of consecutive coverage when you charge the full amount of your rental car to your card. Limited to vehicles up to $65,000 in value. Insurance also covers theft or damage to personal effects up to a maximum of $1,000 for each person, per occurrence. Total benefits during each rental period are limited to a max of $2,000.
Common Carrier Travel Accident Insurance* Up to $500,000 per insured person; entire cost of trip must be charged to the card to be eligible for insurance.
Hotel/Motel Burglary* Up to $1,000 per occurrence for all insured persons combined

Disclosures

  • *Terms and conditions apply.

    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.

Best Amex

Best American Express credit card for travel insurance

up to 100,000 points

Welcome Bonus

$931

First Year Value

$231

Annual Value

Welcome Bonus: Earn 70,000 Membership Rewards® points* after spending $10,000 on your Card within your first 3 months as a new Platinum® Cardmember.*

Learn More Apply Now On American Express' Secure Site

The Platinum Card® from American Express offers particularly strong coverage in two categories: Its rental car coverage is some of the best in Canada, in that it covers vehicles with an MSRP of up to $85,000; most cards only cover vehicles up to $65,000. And its $1,000 in coverage for flight delays of four hours or more is also quite appealing, considering that will be one of the most frequently invoked claims for any regular traveller.

That said, when you’re shelling out big bucks for a card, you expect it to have top-tier insurance offerings that blow other travel credit cards away in every single coverage category. And while the The Platinum Card® does deliver comprehensive insurance, it should be even better given its premium price tag. Personally, while the $5,000,000 worth of emergency medical coverage is noteworthy, I would much rather have one or two million dollars’ worth of coverage but for a longer amount of time, and for a wider range of ages.

The American Express Platinum Card’s coverage applies to the cardholder, a spouse and dependant children. You must charge the full amount of your trip to your card unless otherwise noted.

American Express The Platinum insurance coverage breakdown

Credit card insurance type Amount of coveerage
Travel Emergency Medical Under 65 covered for up to first 15 consecutive days. Up to a maximum of $5,000,000. No mention of charging the cost of the trip to the card.
Delayed and Lost Baggage For lost baggage: up to a max of $1,000 per trip for all insured people combined. Up to $1,000 per trip when baggage is delayed 6 or more hours.
Trip Cancellation $2,500 per insured person to a maximum of $5,000 for all insured persons combined.
Trip Interruption $2,500 per insured person to a maximum of $6,000 for all insured persons combined. Payable as long as any portion of the trip’s costs are charged to the card.
Flight Delay Up to $1,000 per person for flights delayed 4 or more hours.
Auto Rental Collision/Loss Damage Up to 48 days of consecutive coverage. Limited to vehicles up to $85,000 in value.
Hotel/Motel Burglary Up to $1,000.
Common Carrier Travel Accident Insurance Up to $500,000 per insured person.

Disclosures

  • Contact American Express for the most up-to-date referral bonus figures.

    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.
Best for seniors

Best credit card for travel insurance over 65

over $2,500 in value

Welcome Bonus

$1,953

First Year Value

$0

Annual Value

Welcome Bonus: Get a total of up to 70,000 Aeroplan® points (up to $1,400 in travel value†)

Learn More Apply Now On CIBC's Secure Site

For people over 65, it's hard to find a credit card for emergency medical insurance (or one that lasts more than 1-3 days). It's also important to note that if you have pre-existing conditions, there's a stabilization period in which your condition must be stable for so many days before your departure. 

The CIBC Aeroplan® Visa Infinite Privilege* Card helps solve this problem. 

  • For any age older than 65 years old, they give you days of emergency medical insurance with a stabilization period  of 180 days. 
  • For anyone younger than 65, you get 31 days of emergency medical insurance with a stabilization period of 90 days. 

If you're not a fan of Aeroplan, CIBC offers the same coverage for  the CIBC Aventura Visa Infinite Privilege card. 

Disclosures

  • †Terms and Conditions Apply. This offer is not available for residents of Quebec.
  • The information for the CIBC Aeroplan® Visa Infinite Privilege* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.

CIBC Aeroplan® Visa Infinite Privilege* Card insurance coverage breakdown

credit card travel insurance type amount of coverage
Out-of-Province Emergency Travel Medical Insurance Up to $5,000,000 per insured person, per trip. If you're under 64, you have a 31-day coverage period. If you're 65 or over, you have a -day coverage period.
Trip Cancellation and Trip Interruption Insurance Trip cancellation: Up to $2,500 per insured person, per trip (maximum of $10,000 per trip for all insured persons combined)

Trip interruption: Up to $5,000 per insured person, per trip, to a combined maximum of $25,000 for all insured persons combined, per trip.
Flight Delay and Baggage Insurance Flight Delay: Up to $500 per insured person (maximum of $1,000 per occurrence for all insured persons combined)
Delay of Checked Baggage: Up to $500 per insured person (maximum of $1,000 per occurrence for all insured persons combined)
Lost or Stolen Baggage: Up to $1,000 per insured person (maximum of $2,500 per occurrence for all insured persons combined)
Hotel Burglary Insurance Up to $2,500 per occurrence for all insured persons combined
Auto Rental Collision and Loss Damage Insurance Rental cars with a Manufacturer’s Suggested Retail Price (MSRP) of up to $85,000 Rental period of up to 48 days
Purchase Security and Extended Protection Insurance Purchase Security: Up to 180 days from date of purchase.
Extended Protection: Up to 2 additional years following the expiry of the original manufacturer’s warranty
Mobile Device Insurance Up to $1,500 per occurrence, per insured person
Common Carrier Accident Insurance Up to $500,000 per insured person
Best trip coverage

Best credit card with insurance for trip cancellation/interruption insurance

up to $780 in value

Welcome Bonus

$1,382

First Year Value

$602

Annual Value

Welcome Bonus: up to $780* in value in the first 12 months, including up to 40,000 bonus Scene+ points Expires Jul 01, 2025

Learn More Apply Now On Scotiabank's Secure Site

Booking a trip in advance is always a gamble. You never know what might happen that could prevent you from travelling, but with the Scotiabank Gold American Express® Card, you’re covered. If you are forced to cancel your trip because of eligible medical or non-medical causes, you are automatically insured for up to $1,500 per person for eligible expenses (maximum $10,000 per trip) when you charge at least 75% of such trip expenses to your card.

Plus, this card comes with delayed/lost baggage insurance. Like a delayed flight, losing your luggage is only a matter of time. And it’s gonna cost you if you have to buy a bunch of replacement clothes, toiletries, and other stuff (especially if there are foreign transaction fees). Insurance against this annoying situation generally covers essential items, but as discussed above, what is considered essential can vary widely. With the Scotiabank Gold American Express® Card, you’re covered for $500 per insured person after just a 4-hour delay and $1,000 for delayed baggage for all insured persons on the same trip.

It’s also a travel rewards credit card that offers great Scene+ points.

Disclosures

  • Conditions Apply. Visit here for the Scotiabank Gold American Express® Card to learn more.

    *See Card Provider's website and Card Application for complete card details, terms and current offers. Reasonable efforts are made to maintain accuracy of information.

Scotiabank Gold American Express® insurance coverage breakdown

Credit card insurance type Amount of coverage
Travel Emergency Medical Insurance Up to $1,000,000 for eligible persons under age 65 for up to 25 consecutive days, and for eligible persons age 65 and older for up to 3 consecutive days (you can buy additional days).
Trip cancellation/Trip interruption insurance You and your immediate family are eligible for up to $1,500 per person for travel expenses (maximum $10,000 per trip) when you charge at least 75% of such trip expenses to your card.
Flight delay insurance Up to $500 per insurance person on the same trip when you charge at least 75% of the full ticket cost to your card.
Delayed and lost baggage insurance Lost luggage: $500 per person and a combined maximum of $1,000
Delayed luggage: $500 per person and limited to $1,000 for all insurance persons on the same trip if luggage is not delivered within four hours from your time of arrival
Travel accident insurance You, your spouse and eligible dependent children will be automatically insured against accidental loss of life, or dismemberment – up to a maximum of $500,000 (to a maximum of $1,000,000 per occurrence). You must charge at least 75% of your ticket cost to your card.
Rental car collision loss/damage Rental period cannot exceed 48 consecutive days and vehicles costing over $65,000 are not covered.
Hotel/Motel Burglary insurance Use your card to pay for your stay in a North American hotel and any claim that exceeds hotel coverage is picked up by your card up to $1,000.
New mobile device insurance You may be covered for up to $1,000 in the event your cell phone, smartphone, or tablet is lost, stolen, accidentally damaged, or experiences mechanical failure.
Purchase security and extended warranty protection Most items purchased with your Card are insured against theft, loss or damage for 90 days from the purchase date and the manufacturer’s warranty is doubled for up to one year.
Best Aventura

Best travel insurance credit card from CIBC Aventura

over $2,300 in value

Welcome Bonus

$2,181

First Year Value

$0

Annual Value

Welcome Bonus: Get a total of up to 80,000 Aventura Points† (up to $1,600 in travel value) during your first year.

Learn More Apply Now On CIBC's Secure Site

The CIBC Aventura® Visa Infinite Privilege* Card is often recommended for travelers due to its comprehensive suite of insurance benefits and travel-related perks, making it a valuable asset for frequent travelers. While specific benefits can vary over time, here are some typical reasons why this card is praised for its travel insurance offerings:

Credit card coverage type Details
Out-of-Province Emergency Travel Medical Insurance Up to $ per insured person, per trip. Up to 15 days coverage for those under 64, and day coverage if you're over age 65.
Trip Cancellation Up to $ per insured person, per trip up to $10,000 per trip.
Trip Interruption Insurance Up to $5,000 per insured person, per trip, up to $25,000 per trip.
Flight Delay Up to $500 per insured person (max $1,000)
Baggage Insurance Delay: Up to $500 per insured person (maximum $1,000)
Lost: Up to $1,000 per insured person (maximum $2,500 per occurrence for all persons)
Auto Rental Collision and Loss Damage Insurance Rental cards with an MSRP of $85,000 for up to days.
Hotel Burglary Insurance Up to $2,500 per occurrence for all insured persons combined
Common Carrier Accident Insurance $5,000,000 per insured person.
Mobile Device Insurance Up to $1,500 per occurrence per insured person (must buy the device with your card)
Purchase Security and Extended Protection Insurance Purchase: Up up 180 days from date of purchase

Warranty: Up to two additional years following the expiry of the original manufacturer's warranty.

Disclosures

  • †Terms and Conditions Apply. This offer is not available in Quebec.
  • The information for the CIBC Aventura® Visa Infinite Privilege* Card has been collected independently by Money.ca. The card details on this page have not been reviewed or provided by the card issuer.

Other travel related perks

  1. 1.

    Priority Pass Membership and Airport Lounge Access: While not insurance, these benefits enhance the travel experience, offering access to over 1,200 airport lounges worldwide, often with complimentary visits each year.

  2. 2.

    Concierge Service: Another non-insurance benefit, but worth mentioning, is the personalized concierge service that can assist with travel bookings, recommendations, and more, making travel planning and execution smoother.

  3. 3.

    Aventura Points: The rewards program allows you to earn points on purchases, which can be redeemed for flights, hotels, car rentals, and more, offering a way to save on travel expenses directly.

It's important to note that terms, conditions, and exclusions apply to all insurance coverage. The coverage limits, eligibility requirements, and covered reasons for claiming vary, so it's critical to review the current Cardholder Agreement and insurance certificates for the most accurate and up-to-date information. Additionally, the availability of benefits can change, so verifying with CIBC directly or consulting the latest cardholder documentation is advisable for the most current information.

What to look for

What to consider when using travel credit card insurance

Before we get into the nitty gritty details of the different kinds of travel insurance out there, let’s make sure we understand the essentials:

➡️ Charge travel expenses to the right card

With most credit cards, travel medical insurance kicks in regardless of whether or not the cardholder charges their travel-related expenses—e.g. flights, accommodations, and car rental—to the credit card with the travel insurance. However, for additional travel insurance benefits to apply, such as trip cancellation, flight delay, car rental, etc., you must typically charge 75% – 100% of your travel expenses to your card. If you happen to have two credit cards that offer travel insurance, then use the card that gives you better coverage when you’re ready to pay.

➡️ Try not to double up on what you already have

When making your decision about which card is best for your needs, consider what coverage you already have. E.g. if your current car insurance policy already covers you for car rental insurance, then you shouldn’t get a travel credit card that offers car rental insurance as its primary perk.

➡️ Conditions apply

Keep in mind that your credit card travel insurance will not cover any pre-existing condition you have. Nor will your protection apply if you’re doing anything extreme such as bungee jumping or diving. Pregnant women should also be aware that certain conditions apply to them. If you fall into one of those categories, you’ll need to purchase an outside travel health insurance plan as credit card travel insurance is not designed for those scenarios.

➡️ Be aware of ageism

The coverage available to you is dependant on the length of your trip and your age.

If you’re under age 65, the cards we recommend will cover you from 10-60 days of travel (depending on the card). However, if you’re over the age of 65, the longest amount of coverage offered is just 15 days. And, unfortunately, no card that we feature covers anyone over the age of 75.

If you need additional coverage, you’ll need to call your credit card provider to see if you can pay to get it extended or you’ll need to purchase a separate travel insurance package for any days in which you’ll be travelling beyond your card’s coverage limit.

Insurance types

Types of travel insurance provided by Canadian credit cards

The travel insurance lexicon can be confusing for those who are new to travel credit cards, and even for those who have had a travel card for years. We’ve translated everything into plain English so that you’ll know what you’re getting (and what to look for) with each type of coverage.

Lost, stolen, or delayed luggage insurance

In my opinion, the best travel insurance packages should include lost, stolen, or delayed luggage insurance since there’s a good chance regular travellers will need to make a claim for this at some point.

This type of insurance allows you to claim essential items if your luggage is delayed for a specified period of time. The term ‘essential item’ is somewhat ambiguous, but generally speaking, you should be able to purchase any clothing you need—including business attire—until your luggage is returned to you as long as the total doesn’t exceed the amount that you’re covered for.

If your bag is lost or stolen, the same maximum amount provided by your insurance applies, but it would only be relevant to what you lost. There’s often a line in the fine print that limits the maximum amount per item, so if you’re carrying any valuables, it’s best to keep them in your carry-on luggage.

If you feel that this type of insurance is important to you, then consider the Scotiabank Passport® Visa Infinite* Card. It offers up to $1,000 in reimbursement for baggage delayed for a period of only four hours or more—most policies require a delay of at least six hours or more.

Emergency medical insurance

Without a doubt, emergency medical insurance is an essential type of credit card travel insurance you’ll absolutely need. Canadians are accustomed to getting free healthcare, but once you travel out of your province of residence or the country itself, the cost of medical attention skyrockets. A quick trip to the doctor overseas could cost you a few hundred dollars while a trip to the emergency room could be in the thousands. Yikes.

All of our featured credit cards offer at least $1,000,000 in travel health insurance per insured person, with most topping out at 25 days of coverage. Technically speaking, the more you’re insured for, the better, but to be realistic, $1,000,000 in coverage should be enough for even serious accidents. What you should look at before you pick a credit card with travel insurance are the other coverages listed on this page beyond emergency medical.

Trip cancellation/interruption insurance

Travellers often don’t understand how trip cancellation/interruption works. This type of insurance only covers the non-refundable portion of your unused travel arrangements, plus any transportation up to a fixed amount should your trip be interrupted or delayed for a covered reason.

In other words, you can’t just decide that you no longer want to go on your trip and then try to put in a trip cancellation insurance claim. Depending on the policy, you’ll likely be insured for many different reasons, so you’ll want to read the details before you commit, but some of the most common causes are as follows:

  • The insured traveller, travelling companion, or a family member dies
  • The insured traveller, travelling companion, or a family member suffers a serious, covered injury or illness
  • The birth of an immediate family member which requires your attendance after your coverage has begun
  • You or your travelling companion suffer a traffic accident on the way to the airport that needs immediate medical attention
  • You or your travelling companion suffer a job loss through no fault of your own (conditions apply)
  • Your carrier (airline, train, cruise, etc.) does not operate for at least 24 hours due to a strike, natural disaster, or suspended operations
  • A natural disaster makes your home or destination uninhabitable
  • A terrorist event happens within 30 days of your scheduled arrival at your destination

The best trip interruption policy is offered by the Desjardins Odyssey World Elite Mastercard, offering unlimited coverage. It’s hard to beat unlimited.

As for trip cancellation, the BMO Ascend™ World Elite®* Mastercard®* has a great maximum payout of $2,500 per person, and a group maximum of $5,000.

This type of insurance may seem trivial at first, but it can be very useful for travellers who have elderly parents at home, since it’ll help cover the costs in the event of an emergency that requires you to cut your trip short. Note that the definition of who is a covered ‘family member’ differs per policy, so you’ll need to read the travel insurance plan documentation to ensure your needs are met.

Read more: Best credit cards for trip cancellation

Flight delay insurance

Of all the credit card travel insurance benefits out there, flight delay insurance may end up being the one you claim first. Depending on which credit card you have, after a flight delay of 4-6 hours or more you’ll be able to claim all reasonable accommodations, meals, ground transit, entertainment, and personal items purchased up to a certain amount if no alternate flights are available.

Planes are often delayed or cancelled for a variety of reasons, and it’s in your best interest to make a qualifying claim since it’ll make your delay more comfortable. This is especially true if your flight is cancelled and you’re not able to fly out until the following morning. You can book a hotel of your choice, have a nice meal, and purchase some personal items instead of relying on whatever hotel and meal vouchers are thrown at you by the airline.

Rental car collision/loss damage insurance

Generally speaking, rental car collision/loss damage insurance covers you if your rental car is damaged or stolen while you have possession of the vehicle. Unless your regular auto insurance already covers car rentals, then having this type of insurance is a must when you’re renting a car during your travels.

Be aware that car rental insurance can have quite a few conditions relating to the type of car you’re renting and its current value. You won’t have any problem getting insured for a vehicle that’s available at all major car rental agencies, however, if you’re renting an antique, exotic, or expensive car, you may not be covered. As long as the value of the vehicle you’re renting—also called the Manufacturer’s Suggested Retail Price (MSRP)—is less than the total insurable amount offered by your credit card travel insurance, then you’ll be fine.

Some rental car collision/loss damage insurance policies will cover any personal items that are lost when your vehicle is stolen (e.g. the BMO Ascend™ World Elite®* Mastercard®*, but they are unlikely to include liability insurance (if someone sues you due to an accident you caused in the rental car), so factor that in when you’re assessing your insurance needs.

For this policy to apply, you must decline the car rental agency’s insurance. It should also be noted that you’re responsible until the car rental agency has completed its inspection report, so avoid just dropping off your keys when you’re returning your vehicle.

The Platinum Card® offers the best value in this category, with max coverage of $85,000 for car rentals under 48 days.

Read more: Best credit cards for rental car insurance

Hotel/motel burglary insurance

In the event that your hotel room, motel room, homestay lodging, or cruise cabin is broken into and your possessions are lost or damaged, then your hotel/motel burglary insurance may reimburse you up to a certain amount.

For this type of insurance to apply, you need to take some reasonable precautions. For example, if you left your door unlocked, it’s unlikely you’ll be reimbursed if any of your things end up stolen. Checking into a hotel room at a destination that’s currently in a state of emergency/war/rebellion will also guarantee that you won’t be covered. Also, keep in mind that any lost cash or traveller’s cheques are not covered.

Given today’s ubiquity of staying in a privately-owned residence while traveling, it’s important to note that not all hotel/motel burglary policies will cover those types of lodgings. If you frequently use sites like Airbnb while traveling, a credit card’s hotel/motel burglary coverage may not be particularly valuable to you. If, however, you do rack up a lot of nights in hotels or motels, you might pay special attention to the TD® Aeroplan® Visa Infinite* Card. It offers some of the best hotel/motel burglary insurance available in Canada, since you can claim up to $2,500 in lost items†.

Travel accident insurance

People often mistake travel accident insurance as travel health insurance, but the former is more of a life insurance policy as opposed to covering you for any medical expenses.

Generally speaking, for the policy to be valid, you need to travel on a common carrier (plane, train, bus or ship) and charge your tickets to your credit card. The maximum amount listed in our chart refers to what you would get if you were to suffer a loss of life while travelling.

Also, your travel accident insurance gives you a smaller payout for the loss of any of the following:

  • One or both hands
  • One or both feet
  • Total sight in one or both eyes
  • Speech
  • Hearing
  • Use of upper or lower limbs
  • Use of upper or lower limbs on one side of your body

Obviously this is one insurance policy that you/your beneficiary never want to claim. If there’s one small consolation, your travel accident insurance is treated as a separate policy from your personal life insurance policy so your beneficiary could get paid out twice.

Not all of the credit cards we feature offer travel accident insurance—but those that do include the coverage typically have a max payout of $500,000.

How to claim

How to make a credit card travel insurance claim

To be eligible for your credit card travel insurance, you usually need to charge the entire price of your common carrier (plane, train, bus or ship) expenses to your credit card. Some cards only require you to charge 75% of the price, but it’s best just to charge the entire amount to ensure there are no complications later. If by chance you’re going on a road trip with your own vehicle, filling up a tank of gas as soon as you enter a new province or state would make your travel insurance policy valid from that point.

When it comes to making a claim, generally speaking, you want to contact your insurance provider right away to start a claim file. In the case of emergency medical insurance, it may not be possible to do things right away, so inform your insurance provider as soon as you reasonably can.

If your insurance company accepts your medical insurance claim, then you may not need to pay any expenses out of pocket. However, if you’re claiming flight delay or lost luggage insurance, you’ll have to hang onto any relevant receipts and submit them before your insurer will issue you a cheque. For these delay claims to be valid, you would also need proof that your flight was delayed or cancelled. The easiest way to get that proof is to take a screenshot from the airline or airport website showing the delay.

Regardless of which credit card you choose, make sure you keep the insurance certificate somewhere handy so you can look up what you’re entitled to and what the conditions are in the event you ever need to make a claim.

Mastercard vs Visa

Mastercard travel insurance vs. Visa trip insurance

While both credit card providers offer near identical coverage (and vary wildly by bank), it's valuable to know the little bonus perks with each. 

Look for perks outside the big 11 travel insurance categories. 

For example, do they offer emergency assistance services, zero liability in certain conditions, and how long is their rental car insurance coverage period (and for how expensive a vehicle). 

The best recommendation is to look for the little perks that come with Visa Infinite (restaurants and hotels) vs. World Elite (Boingo Wi-Fi, Mastercard Travel Pass). 

Conclusion

In the end, you get what you pay for

I know, I know, we all hate paying an annual fee for a credit card. But sometimes it’s worth it. Although the majority of the recommended cards in this article do have a relatively high annual fee, the comprehensive travel insurance packages they offer easily offset those fees.

Just remember that having travel insurance is a must as soon as you travel out of your home province or the country. It doesn’t matter if you’re crossing the border just for a few hours to shop or you’re headed overseas for a vacation—it’s better to be safe than sorry. Which credit card you choose is ultimately up to you, but remember that there are enough options out there to make sure the protections you get line up with what you need.

FAQs

FAQs

  • What's the best travel insurance to buy?

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    You might already have a few different types of travel insurance via your credit card; in that case the best travel insurance to buy à la carte, i.e. directly from an insurance provider, is whatever coverage you don't already have. The most commonly used coverages are probably emergency medical, flight delay, and delayed/lost baggage.

  • Is credit card travel insurance any good?

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    Yes, credit cards can provide very good travel insurance. And those who travel outside their province or outside Canada at least 2-3 times per year might actually pay less for a good travel credit card's annual fee than they would buying travel insurance directly from an insurer.

  • What travel insurance is best for seniors?

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    The best travel insurance for seniors to buy is probably emergency medical insurance. This coverage is rarely provided by travel credit cards for people over age 65.

  • Does travel insurance cover cancellation for any reason?

    +

    No, travel insurance will not cover trip cancellation for any reason; most insurance packages specify reasons for which the cancellation coverage can be used, such as a serious illness, death in the traveller's family, natural disaster, etc.

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Barry Choi Contributor

Barry Choi is a Toronto-based personal finance and travel expert who makes frequent media appearances. When he's not educating people on how to be smarter with money, he's earning and burning miles and points for luxury travel.

Sandra MacGregor Freelance Contributor

Sandra MacGregor has been writing about finance and travel for nearly a decade. Her work has appeared in a variety of publications like the New York Times, the UK Telegraph, the Washington Post, Forbes.com and the Toronto Star.

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