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Travel Insurance

Going on a trip? Find the best travel credit card with insurance coverage.

Canadian credit cards with travel insurance

Finding the right travel insurance for your trip can be a challenge but we can help. If you’re trying to determine which credit card contains the best travel insurance, it depends largely on understanding your travel coverage needs. We've broken down the best credit cards for travel insurance, so you can easily pick the best one for your personal travel needs.

Please note that, travel insurance offered through credit cards only applies to purchases booked on that credit card. So, if you're booking a trip, use your travel credit card to purchase tickets and stays, to ensure that your trip is covered by the card's travel insurance benefits.

Top Travel Insurance Credit Cards in Canada

Category

Best Credit Card 

Annual Fee 

Best Overall Travel Insurance Credit Card

BMO AIRMILES World Elite* Mastercard*

$120 (first year waived)

Best No Fee Travel Insurance Credit Card

MBNA Rewards Platinum Plus® Mastercard®

$0

Best Cash Back Travel Insurance Credit Card

BMO CashBack World Elite* Mastercard*

 $120 (first year waived)

Best Premium Travel Insurance Credit Card

The Platinum Card® from American Express

$699

Best Overall Travel Insurance Credit Card - BMO AIRMILES World Elite* Mastercard*

If you’re a frequent traveller and you’re looking for a credit card that can offer you the most comprehensive insurance coverage, the BMO AIR MILES World Elite* Mastercard* is the card for you.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$447
+ Annual rewards
$412
- Annual fee (First Year Waived)
0
Total first year value
$859
BMO AIR MILES World Elite* Mastercard*

card image
Welcome bonus
$447
AIRMILES Rewards
Annual rewards
$412
AIRMILES Rewards
Annual fees:
$120 (First Year Waived)
Interest rates:
20.99% on purchases • 22.99% on cash advances
Great rewards card for Air Miles collectors
Includes comprehensive travel insurance and access perks
Details at a glance Collapse details
Welcome bonus
$447
Annual rewards
$412
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$447
+ Annual rewards
$412
- Annual fee (First Year Waived)
0
Total first year value
$859
Annual fees:
$120 (First Year Waived)
Interest rates:
20.99% on purchases
22.99% on cash advances
Great rewards card for Air Miles collectors
Includes comprehensive travel insurance and access perks
Details at a glance Collapse details

With the BMO AIRMILES World Elite* Mastercard* for travel, you can access over 12 types of insurance coverages, including purchase protection, travel accident, trip cancellation, flight delay and much more. Having travel coverage this comprehensive means you’ll be prepared for travel disruptions, such as a cancelled flight and lost luggage, which can put a damper on any trip. Most importantly, the added Personal Effects insurance offered on this card will cover you if your belongings are damaged, lost or stolen at any point during your trip.

You also get a complimentary VIP membership in Mastercard Airport Experiences provided by LoungeKey and a 15% discount on North American AIR MILES flights.

Here’s a breakdown of the different coverages

  • Extended Warranty - 1 Year
  • Travel Accident - $500,000
  • Emergency Medical - 15 days
  • Trip Cancellation - $2,500
  • Trip Interruption - $2,000
  • Flight Delay - $500
  • Baggage Delay - $200
  • Lost or Stolen Baggage - $750
  • Hotel Burglary - $750
  • Personal Effects - $750
  • Rental Car Theft
  • Rental Car Accident - $200,000
  • Rental Car Personal Effects - $1,000

Plus, when you use a BMO AIR MILES credit card to shop at Sobeys, Safeway, Foodland and participating stores like Urban Fresh, you earn bonus AIR MILES. Redeem these rewards for travel, flights and hotel stays.

Best No Fee Card - MBNA Rewards Platinum Plus® Mastercard®

The MBNA Rewards Platinum Plus® Mastercard® is an excellent option for those looking to avoid paying an annual fee, but seeking some travel insurance coverage.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$163
+ Annual rewards
$340
- Annual fee
$0
Total first year value
$503
MBNA Rewards Platinum Plus® Mastercard®

card image
Welcome bonus
$163
MBNA Rewards points
Annual rewards
$340
MBNA Rewards points
Annual fees:
$0
Interest rates:
19.99% on purchases • 24.99% on cash advances
2021 Winner – Best No-Fee Travel Credit Card
Flexible rewards redeemable for travel or cash back
Details at a glance Collapse details
Welcome bonus
$163
Annual rewards
$340
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$163
+ Annual rewards
$340
- Annual fee
$0
Total first year value
$503
Annual fees:
$0
Interest rates:
19.99% on purchases
24.99% on cash advances
2021 Winner – Best No-Fee Travel Credit Card
Flexible rewards redeemable for travel or cash back
Details at a glance Collapse details

Its coverage includes mobile device and travel accident insurance, unexpected return home coverage, rental car accident coverage and more. You can also access Mastercard Travel Rewards when you register your card, which enables you to receive offers when you shop and dine with Mastercard partners around the world.

Here’s a breakdown of the different coverages:

  • Mobile Device Insurance - $1,000
  • Travel Accident - $1,000,000
  • Unexpected Return Home - $2,000
  • Purchase Protection - 90 days
  • Extended Warranty - 1 Year
  • Rental Car Accident - 2,000,000
  • Rental Car Personal Effects - $1,000

Plus, earn 2 points for every $1 spent on:

  • Groceries
  • Restaurants
  • Memberships and Digital Media
  • Household Utilities

And earn 1 point for every $1 spent on all other eligible purchases.

Best Cash Back Card - BMO CashBack World Elite* Mastercard*

When searching for a credit card that includes great travel insurance, you may notice that the best coverage is offered with cards earning you rewards points. However, for those who prefer cash back, the BMO Cashback World Elite* Mastercard* is a great option.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$150
+ Annual rewards
$594
- Annual fee (First Year Waived)
0
Total first year value
$744
BMO CashBack World Elite* Mastercard*

card image
Welcome bonus
$150
BMO Cash Back Rewards
Annual rewards
$594
BMO Cash Back Rewards
Annual fees:
$120 (First Year Waived)
Interest rates:
20.99% on purchases • 22.99% on cash advances
Strong cash back reward rates in a variety of catagories 
Rare travel perks for a cashback card - includes lounge access and travel insurance
Details at a glance Collapse details
Welcome bonus
$150
Annual rewards
$594
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$150
+ Annual rewards
$594
- Annual fee (First Year Waived)
0
Total first year value
$744
Annual fees:
$120 (First Year Waived)
Interest rates:
20.99% on purchases
22.99% on cash advances
Strong cash back reward rates in a variety of catagories 
Rare travel perks for a cashback card - includes lounge access and travel insurance
Details at a glance Collapse details

When it comes to travel insurance coverage, you are covered with the following:

  • Purchase Protection - 180 days
  • Extended Warranty - 2 Years
  • Travel Accident - $500,000
  • Emergency Medical Term - 8 days
  • Trip Interruption - $2,000
  • Flight Delay - $200
  • Baggage Delay - $750
  • Lost or Stolen Baggage - $500
  • Hotel Burglary - $750
  • Rental Car Theft
  • Rental Car Accidents - $200,000

With the BMO Cash Back World Elite* Mastercard*, you can earn 5% cash back on groceries, 4% cash back on transit, 3% cash back on gas and 2% on recurring bill payments. Earn 1% cash back on all other eligible purchases. Best of all, you can redeem your cash back anytime for as little as $1.

Best Premium Fee Card - The Platinum Card® from American Express

If you are aiming to receive high rewards value, unique travel perks and benefits along with a comprehensive insurance package, The Platinum Card® from American Express is the card for you.

The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$1137
+ Annual rewards
$567
- Annual fee
$699
Total first year value
$1005
The Platinum Card®

card image
Welcome bonus
$1137
AMEX Rewards points
Annual rewards
$567
AMEX Rewards points
Annual fees:
$699
Interest rates:
N/A on purchases • N/A on cash advances
The best perks and insurance on a premium card in Canada
Great for stress-free travel and exclusive lounge access
Details at a glance Collapse details
Welcome bonus
$1137
Annual rewards
$567
The estimated dollar amount of benefits you’ll accumulate based on your monthly spending and rewards preference
+ Welcome bonus
$1137
+ Annual rewards
$567
- Annual fee
$699
Total first year value
$1005
Annual fees:
$699
Interest rates:
30.0% on purchases
30.00% on cash advances
The best perks and insurance on a premium card in Canada
Great for stress-free travel and exclusive lounge access
Details at a glance Collapse details

The Platinum Card® allows you to enjoy stress-free travel with premium perks, benefits and insurance coverage. You’ll be able to access airport lounges, valet service and the world’s most luxurious hotels and resorts such as the Hilton Hotel, Marriott Bonvoy and Radisson. You can also book your trips using American Express Travel Online.

Here’s a breakdown of the insurance coverage:

  • Purchase Protection - 120 days
  • Extended Warranty - 1 year
  • Travel Accident - $500,000
  • Emergency Medical Term - 15 days
  • Trip Cancellation - $2,500
  • Trip Interruption - $1,500
  • Flight Delay - $1,000
  • Baggage Delay - $1,000
  • Lost or Stolen Baggage - $1,000
  • Hotel Burglary - $1,000
  • Rental Car Theft & Damage

With The Platinum Card®, you can earn 3X the points on eligible dining and takeout purchases, 2X the points on eligible travel, and 1X the points on everything else you buy.

Where you can use your travel insurance and coverage types

Are you looking for a specific type of travel insurance coverage with your credit card? Here are the best credit cards with travel insurance to cover you for:

  • Pre-Arrival/At Airport: When your trip is interrupted right at the beginning, you can lose the money you spent on purchasing tickets and accommodation or even worse, also incur additional food and accommodation costs during the interruption. With a travel credit card that comes with insurance coverage like trip cancellation and trip interruption, you can file a claim if such issues occur and reduce your loss.
  • At Destination: When you are at a foreign destination, you’ll want to be covered for any events that will result in the loss of personal property. Using a credit card that comes with personal effects, burglary and rental car insurance coverage can help you prepare for such situations.
  • Medical: Falling sick during a trip is the worst feeling and dealing with sudden medical bills on top of that can be quite stressful. If your travel credit card comes with emergency medical and accident coverage, you’ll be covered for medical treatment when you’re away from home.

Pre-Arrival/At Airport Coverages

Pre-Arrival/At Airport Coverages 

Best Credit Card 

Coverage Amount 

Best Cancellation and Interruption 

TD® Aeroplan® Visa Infinite* Card 

 

$1,500 (Cancellation) 

$5,000 (Interruption) 

Best Flight Delay 

The Platinum Card® from American Express

 $1,000 

Best Baggage Delay 

Scotiabank PassportTM Visa Infinite* Card 

 $1,000 

Best Lost/Stolen Baggage 

Scotiabank PassportTM Visa Infinite* Card 

 $1,000 

  

At Destination Coverages

  

At Destination Coverages 

Best Credit Card 

Coverage Amount 

Best Hotel Burglary 

TD® Aeroplan® Visa Infinite* Card 

 $2,500 

Best Rental Car Insurance 

BMO AIR MILES World Elite* Mastercard* 

 $200,000 

Best Personal Effects 

BMO AIR MILES World Elite* Mastercard* 

 $750 

Medical Coverages

Medical Coverages 

Best Credit Card 

Coverage Amount 

Best Emergency Medical Coverage 

Scotiabank PassportTM Visa Infinite* Card 

25 Days (3 days Over 65) 

Best Emergency Medical Coverage for Seniors 

TD® Aeroplan® Visa Infinite* Card

 

4 Days 

Best Travel Accident 

Scotiabank PassportTM Visa Infinite* Card 

 $500,000 

 

Different types of credit card travel insurance

When we think of travel insurance, we tend to think of emergency medical travel insurance, but that’s just one of the many types of travel insurance available. Each type of travel insurance has its purpose, and some cards may cover one or two types, but not the others.

Always carefully review your credit card and travel insurance policies to ensure you fully understand the depth of your coverage and any existing limitations.

Type of credit card travel insurance What it covers Tips:
Trip Interruption Insurance Reimburses you for select expenses in the event unforeseen circumstances interrupt your trip, such as the death of a loved one forcing you to come home early. Review your policy in detail to understand exactly what you’re covered for.
Trip Cancellation Insurance Reimburses you for select expenses in the event unforeseen circumstances prevent you from going on your trip, such as falling ill or obtaining an injury. Read the fine print to understand your policy’s limitations.
Travel Medical Protection Covers emergency medical expenses and related costs incurred abroad. Check your credit card limit as you may with to purchase additional coverage.
Travel Medical for Seniors Provides emergency medical coverage for seniors travelling abroad. Coverage may depend on your state of health.
Car Rental Provides car insurance for damages, theft, or loss of use when you pay for a rental car with your credit card. Note: this does not typically provide third party liability coverage or damages you cause to someone else or their property.
Flight Delay Reimburses you for expenses such as meals, accommodation and other expenses accrued as a result of significant flight delays. These expenses must be purchased on your credit card.
Baggage Delay Covers expenses for necessary items you need to purchase in the event your baggage is delayed or lost. These expenses must be purchased on your credit card.
Common Carrier Accident Covers you in the event an accident causes disability or loss of life accrued while travelling on a certified common carrier such as a plane, train, boat or bus. These excursions must have been booked on your credit card. Other limitations may apply.

Top up travel insurance

If your cards do not have the type of coverage you’re looking for, you can purchase top up travel insurance to ensure you have everything you need.

Frequently asked questions about credit card travel insurance

Is credit card travel insurance enough?

That depends on your credit card, the type of travel insurance coverages it offers, and the limitations of that coverage and its coverage amounts. Typically, higher end and more luxurious credit cards offer more robust coverage than the standard amounts available through common credit cards. Always read your credit card travel insurance coverage carefully, and if it is insufficient be sure to purchase additional travel insurance independently before you travel.

For example, your credit card may offer travel trip cancellation insurance but not emergency medical, or vice versa. In this case, you may only need to purchase coverage for the type of travel insurance not covered by your credit card.

When reviewing your credit card’s travel coverage, be sure to consider:

  • The card’s coverage limitations and deductibles
  • If coverage extends to your family, or is exclusive to you. If not, can you add your family?
  • If it covers pre-existing medical conditions
  • If your credit card company offers 24/7 customer service
  • If the credit card travel insurance has adequate coverage
  • If you’re eligible for the travel insurance your credit card covers

Do you have to buy travel insurance before booking?

No, you don’t need to buy travel insurance before booking, but you do need to purchase a policy prior to departure.

What travel purchases does my credit card cover?

For your credit card to cover eligible travel purchase, you must have made those purchases on that card. For example, if your credit card covers trip cancellation insurance, that trip must have been purchased on that credit card. Other limitations may apply.

RATESDOTCA may receive compensation when you click on links to those products or services. however, our content and calculations are objective and free from bias. The opinions expressed are purely those of RATESDOTCA; thus, partners are not responsible for any editorials or reviews that may appear. For current term and conditions on any advertiser or partner’s product, please visit their website.

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