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Insurance Changes Coming to Scotiabank Credit Cards in July

June 22, 2021
3 mins
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In a recent notice sent to cardholders, Scotiabank explained the changes to its insurance providers, coverages and benefits taking effect on July 1, 2021. Popular travel credit cards like the Scotiabank PassportTM Visa Infinite* Card and the Scotiabank®* Gold American Express® Card are on this list.

Here is a summary of what is to come.

Insurance changes

To start, Scotiabank is switching insurance providers to The Manufacturers Life Insurance Company and First North American Insurance Company.

The following cards will only see a provider change and no other updates to their insurance benefits:

  • Scotia Momentum® Visa* Card
  • Scotiabank GM®◊ Visa* Business Card
  • Scotiabank GM®◊ Visa* Card
  • ScotiaLine® for business Card
  • Scotiabank US Dollar Visa* Card
  • No-Fee ScotiaGold® Visa* Card

Travel emergency medical insurance

All cardmembers, including the primary and supplemental cardholders who are residents of Canada, will be considered under the definition of “Insured Person.” Coverage will also extend to dependent children while they are not travelling with the cardmember or their spouse:

  • Scotiabank Platinum American Express®* Card
  • Scotiabank Gold American Express®* Card
  • Scotiabank American Express®* Card
  • ScotiaGold Passport® Visa* Card
  • Scotiabank Passport™ Visa Infinite Business* Card
  • Scotia Momentum® Visa Infinite* Card
  • Scotia Momentum® for business Visa* Card
  • Scotiabank GM®◊ Visa Infinite* Card

Trip cancellation and trip interruption insurance

Scotiabank is eliminating coverage for a travelling companion; however, it is extending coverage to dependant children when they are not travelling with the cardmember or their spouse. The new limit for travelling companions is three people.

  • Scotiabank Platinum American Express®* Card
  • Scotiabank Gold American Express®* Card
  • Scotiabank Passport™ Visa Infinite Business* Card
  • Scotia Momentum® Visa Infinite* Card

Only the trip interruption changes apply to the following cards:

  • Scotiabank American Express®* Card
  • Scotiabank GM®◊ Visa Infinite* Card

Hotel/motel burglary insurance

Scotiabank is eliminating the hotel/motel burglary insurance for parents residing with the cardmember:

  • Scotiabank Platinum American Express®* Card
  • Scotiabank Gold American Express®* Card
  • ScotiaGold Passport® Visa* Card
  • Scotiabank Passport™ Visa Infinite Business* Card
  • ScotiaGold Passport® for business Visa* Card

Many of the perks and benefits offered by travel credit cards only apply to the primary cardholder, so it is important to read the insurance package before planning your next group or family trip.

Lost luggage and delayed luggage insurance

Similarly, coverage for lost luggage and delayed luggage insurance coverage will no longer extend to parents residing with the cardmember:

  • Scotiabank Platinum American Express®* Card
  • Scotiabank Gold American Express®* Card
  • ScotiaGold Passport® Visa* Card
  • Scotiabank Passport™ Visa Infinite Business* Card
  • ScotiaGold Passport® for business Visa* Card
  • Scotia Momentum® Visa Infinite* Card
  • Scotiabank GM®◊ Visa Infinite* Card

Price protection service

Unfortunately, Scotiabank is removing the rare price protection service from the following cards:

  • Scotiabank Platinum American Express®* Card
  • Scotiabank American Express®* Card
  • Scotiabank More Rewards Visa* Card

The unique feature allows cardholders to pay the lowest possible price. For example, if an item purchased on the card goes on sale within a certain period, the cardholder can claim the difference up to a certain dollar amount per item, up to a maximum value per year.

If you still want this perk, you’ll have to reach outside the Scotiabank family of cards. Instead, check out the MBNA Rewards World Elite® Mastercard® or the HSBC +Rewards™ Mastercard®, which both feature a price protection service and other great benefits.

For more information on the imminent changes, contact the number on the back of your credit card or click here.

Compare credit cards

As demand for travel ramps back up, it is crucial to consider whether your credit card continues to suit your needs. Compare travel credit cards to see how well your current card stacks against others on the market today.

Rates, product information and reward estimates are subject to change at any time and do not constitute financial advice. This post was not sponsored. RATESDOTCA may receive a referral fee from our partners or affiliate links featured on the site; however, our editorial choices are objective and free from bias. The opinions expressed in this article are purely those of RATESDOTCA; thus, the credit card issuers and partners are not responsible for any editorials or reviews that may appear. Please visit the associated website for complete and current terms and conditions on any product or service mentioned. The information in this article is accurate as of the date of this posting, June 22, 2021. Read our full disclaimer.

Hayley Vesh

Hayley Vesh is a creative, resourceful, and knowledgeable content producer who is passionate about financial literacy, storytelling, and generating ideas. She writes about credit cards, savings, debt management, and personal finance. In her spare time, Hayley can be found wandering in the woods, hunting for second-hand treasures, or curled up with a steeped tea and a good podcast.

Find Hayley Vesh on LinkedIn.

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