Canada’s finest bank cards for journey insurance coverage 2023

In case you’re planning to journey this summer time, you’ll want journey insurance coverage should you plan to exit of province. Nowadays, most of the bank cards obtainable embrace some sort of journey insurance coverage. Whereas that’s a terrific promoting function for these playing cards, savvy Canadians know that not all insurance coverage is created equal. There are a couple of sorts of protection you really want when travelling, like emergency medical and journey cancellation or interruption. Theft or baggage loss safety is a helpful bonus, too. As to which journey bank card provides the correct mixture of options for you, that may rely largely on the kind of traveller you’re and the perks you’re almost definitely to make use of. As an example, should you’re a frequent flyer, you may want a card that gives an in depth journey insurance coverage bundle, plus a terrific factors system or lounge entry. In case you’re into street journeys, a card with journey insurance coverage and roadside help could be extra your pace. We’ve rounded up the playing cards that supply nice journey insurance coverage for any kind of globe trotter. However first…

Journey insurance coverage on bank cards: How does it work?

Each insurance coverage bundle is tailor-made to a selected card and program however generally, the method is easy. You’ll often should guide your journey on that bank card however completely different playing cards have completely different guidelines. For instance, some say it is advisable guide 100% of your journey on the cardboard whereas others don’t have that stipulation. Learn your paperwork to find out your tasks. When you guide, you’ll mechanically have entry to the included protection. You don’t should notify the bank card firm that you just’re touring or name to activate the protection. That stated, we at all times advocate that you just learn the documentation out of your bank card firm. 

Greatest no charge card for journey insurance coverage 

Rogers World Elite Mastercard

At a look: If you would like a journey insurance coverage bank card with out committing to an annual charge, take a look at the Rogers World Elite Mastercard. Not solely does this no-fee card embrace priceless journey and rental automotive insurance coverage with perks like free Boingo Wi-Fi and entry to airport lounges, it’s additionally a money again card. Because of this for each $1 you spend on the cardboard you’ll get again 1.5% (or 3% if it’s in U.S. forex). And, new members will get a $25 welcome bonus utilized to their account as quickly as they make their first buy. 

• Annual charge: $0
• Rates of interest: 19.99% on purchases, 22.99% on money advances, 22.99% on stability transfers
• Earn charge: 1.5% money again on all purchases; 3% money again on all U.S.-dollar purchases
• Welcome bonus: Earn $25 money again once you make your first buy inside the first three months of receiving the cardboard
• Further advantages: Out-of-province/out-of-country emergency medical insurance coverage; journey cancellation/interruption safety; rental automotive collision/harm protection; entry to over 1,000 LoungeKey airport lounges in over 100 nations with Mastercard Airport Experiences; free Boingo Wi-Fi at over 1 million hotspots worldwide; and Mastercard Journey Rewards
• Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000

Greatest journey insurance coverage card for lounge entry

Scotiabank Passport Visa Infinite Card*

It will be onerous to overstate the perks of lounge entry, significantly throughout a pandemic. And for frequent flyers, having a spot to seize a drink, sit comfortably and luxuriate in some downtime will be the distinction between a punishing and apleasant journey. While you use this card to your journey bills, you get simply that: a worry-free haven. The Scotiabank Passport Journey Visa is a top-notch journey card in its personal proper, providing a stable suite of journey and automotive rental insurance coverage protection. It has some good perks, too, like the power to earn Scene+ factors and bonuses, together with an annual 10,000-point top-up once you spend $40,000 in that yr. And, cardholders obtain complimentary Precedence Cross membership plus six free worldwide airport lounge passes per yr, so that you’ll at all times have someplace to place your ft up.

• Annual charge: $150
• Rates of interest: 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers
• Earn charge: 2 Scene+ factors for each $1 spent on groceries, eating, leisure and each day transit purchases; 1 Scene+ level per $1 on every part else
• Welcome bonus: Earn as much as 40,000 bonus Scene+ factors and first yr annual charge waived. Supply ends 30 April 2023.
• Further advantages: Journey insurance coverage together with emergency medical, journey cancellation or interruption, flight delay, delayed or misplaced baggage, and journey accident safety; resort/motel housebreaking insurance coverage; rental automotive collision loss/harm insurance coverage; no international transaction charges; and Visa Infinite privileges
• Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000

Greatest journey bank card for medical insurance coverage

BMO Ascend World Elite Mastercard*

At a look: Canadians are privileged in the case of healthcare, so it’s no shock we need to journey with strong medical insurance coverage. Whereas many bank cards supply medical protection of as much as $1 million, the Ascend World Elite Mastercard doubles that , providing $2 million in cowl for as much as 21 days of journey—on limitless journeys per yr. It additionally contains automotive rental collision loss and harm waiver insurance coverage, so that you’ll be reimbursed for harm or theft of your rental automotive for journeys as much as 48 days. You’ll additionally get journey accident insurance coverage, which covers you and your partner and dependants for as much as $500,000 on passenger plans, busses, taxis, trains and cruise ships. One other perk: You get delayed and loss baggage insurance coverage. So that you’ll be reimbursed as much as $750 per insured particular person in case your baggage are misplaced or broken. And in case your checked baggage are delayed greater than 12 hours, you’ll get $200 to buy necessities, too. Protection for you and your loved ones to the tune of $2 million gives a whole lot of peace of thoughts, whereas a free lounge membership in Mastercard Journey Cross, supplied by DragonPass, plus 4 free passes a yr, provides you literal peace when travelling. Cardholders earn BMO Rewards factors when utilizing the cardboard, which will be utilized to journey, merchandise, money redemption and even a contribution to a BMO funding account.

• Annual charge: $150
• Rates of interest: 20.99% on purchases, 23.99% on money advances (21.99% in Quebec), 22.99% on stability transfers
• Earn charge: 5 factors per $1 on journey, 3 factors per $1 on eating and leisure, 1 level per $1 on every part else
• Further advantages: Entry to over 1 million Wi-Fi hotspots, BMO concierge service, prolonged guarantee and buy safety; journey medical insurance coverage for you and your loved ones of as much as $2 million on journeys as much as 21 days; automotive rental collision loss and harm waiver insurance coverage; journey accident insurance coverage for you and your loved ones as much as $500,000 on passenger plans, busses, taxis, trains and cruise ships; delayed and loss baggage insurance coverage; and journey cancellation/interruption protection.
• Welcome supply: Earn as much as 60,000 factors and the annual charge waived within the first yr for each the first cardholder and approved customers.
• Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000

Greatest journey card for snowbirds and different seniors

Nationwide Financial institution World Elite Mastercard*

At a look: Canadians work onerous all their lives, usually with the concept that they’ll journey as soon as in retirement or semi-retirement. The factor is, many insurance coverage firms radically improve premiums and even refuse protection to older candidates. Travellers with the Nationwide Financial institution World Elite Mastercard of their pockets have 15 days of emergency journey insurance coverage included, even when they’re over 65 years previous. The cardboard’s ingenious journey charge reimbursements system can cowl you for travel-related prices like airport parking, seat choice, and checked baggage charges. This card’s rewards program enables you to earn factors on purchases that may be redeemed for journey or merchandise, or used for monetary merchandise like registered retirement financial savings plan(RRSP) or tax-free financial savings account (TFSA) contributions, or mortgage or line-of-credit funds.   

• Rates of interest: 20.99% on purchases, 22.49% on money advances, 22.49% on stability transfers
• Earn charge: Earn as much as 5 factors per $1 on grocery and restaurant purchases; 2 factors per $1 on fuel, electrical car costs and recurring invoice funds; and 1 level per $1 on every part else.
• Welcome supply: Earn 70,000 rewards factors once you join the World Elite® Mastercard®.
• Further advantages: As much as $150 annually in refund for journey bills on airport parking, seat choice, check-in charges, airline ticket upgrades and entry to airport lounges worldwide; free and limitless entry together with a visitor to the Nationwide Financial institution Financial institution World MasterCard Lounge at Montréal-Trudeau airport; complete journey insurance coverage protection for as much as 60 days; out-of-province-of-residence medical/hospital insurance coverage, departure flight delay insurance coverage, baggage insurance coverage in case of delay, theft or loss; car rental insurance coverage; cell gadgets insurance coverage in opposition to theft or damages for as much as 2 years; and medical, basic and authorized help; buy safety in case of theft or harm.
• Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000

Greatest for journey insurance coverage for street journeys 

BMO CashBack World Elite Mastercard*

At a look: Many journey bank cards deal with air journey however for the street trippers amongst us, we’ve chosen the BMO CashBack World Elite Mastercard. This card is stable—high to backside—with the best money again charge within the nation with 5% again on groceries, plus 4% again on transit, 3% again on fuel and electrical car charging; 2% on recurring invoice funds, and 1% again on every part else. These earn charges will simply offset the $120 annual charge for a typical spender, however the different included advantages make this a must-carry card for many who need to take the highways and byways. First, cardmembers are coated by the BMO World Elite Whole Journey and Medical Safety bundle, which incorporates collision harm waiver advantages on rental vehicles and eight days of out-of-province and out-of-country emergency medical advantages as much as $2 million. Plus, it features a free, fundamental membership within the Dominion Vehicle Affiliation and the advantages of its BMO Roadside Help Program.

• Annual charge: $120
• Rates of interest: 20.99% on purchases, 23.99% on money advances, 22.99% on stability transfers
• Earn charge: 5% money again on groceries, 4% again on transit, 3% again on fuel and electrical car charging, 2% on recurring invoice funds, and 1% again on every part else
• Further advantages: Complimentary Roadside Help Program; BMO World Elite Whole Journey and Medical Safety; 25% off at Nationwide and Alamo for automotive leases; and Mastercard Journey Rewards program.
• Welcome bonus: Rise up to 10% money again in your first three months and have the $120 annual charge waived within the first yr.
• Annual revenue requirement: Private revenue of $80,000 or family revenue of $150,000

Greatest journey bank card with journey cancellation insurance coverage

TD First Class Journey Visa Infinite Card*

At a look: Journey cancellation insurance coverage is extra necessary than ever because the pandemic began. Our decide for the very best journey insurance coverage bank card with journey cancellation insurance coverage is the TD First Class Journey Visa Infinite, which provides as much as $1,500 per particular person. This, together with the included medical insurance coverage, widespread service journey accident safety, delayed or misplaced baggage protection, and journey help, ought to assist you relaxation simple as you propose your journey. As a money again card, it can additionally allow you to earn whilst you spend, 8 TD factors per $1 spent through Expedia For TD, (and 50% extra factors for purchases at Starbucks). It is a welcome addition to any traveler’s pockets.

• Annual charge: $139
• Rates of interest: 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers
• Earn charge: 8 TD factors per $1 spent once you guide journey by Expedia For TD; 6 Factors per $1 on groceries & eating places; 4 factors per $1 spent on recurring payments; 2 factors per $1 spent on every part else; 50% extra factors at Starbucks
• Welcome bonus: Not obtainable to show for the time being., Quebec residents, please click on right here.
• Further advantages: Journey insurance coverage bundle, together with medical insurance coverage, journey cancellation or interruption, widespread service journey accident, and delayed or misplaced baggage protection; journey help; as much as $1,000 in cell gadget insurance coverage; auto rental collision/loss harm safety; Precedence Cross membership low cost; financial savings at Avis and Finances
• Annual revenue requirement: Private revenue of $60,000 or family revenue of $100,000

Extra of Canada’s finest bank cards: