If you happen to’re one of many almost 80% of Canadians planning a visit outdoors your province or territory this yr, you’re going to wish to use a journey bank card with strong insurance coverage.
Prime 3 playing cards for journey insurance coverage
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Finest for complete insurance coverage
Nationwide Financial institution World Elite Mastercard
Journey medical emergency insurance coverage for journeys as much as 60 days with insurance coverage choices additionally obtainable for seniors (uncommon amongst journey playing cards).
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Curiosity Charges:
$20.99% buy, $22.49% money advance, $22.49% stability switch
Welcome supply:
$320 worth
Earn as much as 40,000 rewards factors. Should apply by March 31, 2025.
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Finest basic journey card
Scotiabank Passport™ Visa Infinite Card
Journey insurance coverage for journeys as much as 25 days. Plus obtain airport lounge and noforex perks.
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Curiosity Charges:
$20.99% buy, $22.99% money advance, $22.99% stability switch
Welcome supply:
$250 worth
Earn as much as $1,100 in worth within the first 12 months, together with as much as 35,000 bonus Scene+ factors. To qualify, apply by December 31, 2024.
Finest bank cards for journey insurance coverage by class
The varieties of journey protection you’ll want—and the perks and advantages which are most dear to you—will rely upon the kind of journey you’re taking, so we’ve damaged down our favorite bank cards into classes.
| Finest card by class | Highlights | Particulars | Eligibility necessities |
|---|---|---|---|
| FEATURED Nationwide Financial institution World Elite Mastercard  GO TO SITE |
Award: Finest general journey insurance coverage bank card
Finest options: Emergency medical protection as much as 60 days (15 days for these over 65), plus strong journey cancellation and automobile rental insurance coverage, and extra |
Annual payment: $150
Rewards: 1 to five factors per greenback Rates of interest: 20.99% on purchases, 22.49% on money advances, 22.49% on stability transfers |
Earnings: $80,000 (private) or $150,000 (family)
Credit score rating: 760 or increased |
| FEATURED Scotiabank Passport Visa Infinite  GO TO SITE |
Award: The most effective playing cards with an annual payment (honourable point out)
Finest options: Good emergency medical protection, and 6 free airport lounge entry passes |
Annual payment: $150
Rewards: 1 to three factors per greenback Rates of interest: 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
Earnings: $60,000 (private) or $100,000 (family)
Credit score rating: 725 or increased |
| FEATURED BMO Ascend World Elite Mastercard  GO TO SITE |
Award: The most effective playing cards with an annual payment (honourable point out)
Finest options: Emergency medical protection as much as 21 days on limitless journeys per yr |
Annual payment: $150
Rewards: 1 to five factors per greenback Rates of interest: 20.99% on purchases, 23.99% on stability transfers, 23.99% on money advances |
Earnings: $80,000 (private) or $150,000 (family)
Credit score rating: 760 or increased |
| FEATURED BMO CashBack World Elite Mastercard  GO TO SITE |
Award: The most effective playing cards with an annual payment (honourable point out)
Finest options: BMO Roadside Help Program advantages by means of a free, fundamental membership within the Dominion Car Affiliation |
Annual payment: $120
Rewards: 1% to five% money again Rates of interest: 20.99% on purchases, 23.99% on money advances, 23.99% on stability transfers |
Earnings: $80,000 (private) or $150,000 (family)
Credit score rating: 760 or increased |
| FEATURED Rogers Crimson World Elite Mastercard  GO TO SITE |
Award: Finest no-fee journey insurance coverage bank card
Finest options: Get six varieties of journey insurance coverage protection with no annual payment |
Annual payment: $0
Rewards: 1.5% to three% money again Rates of interest: 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
Earnings: $80,000
Credit score rating: 725 or increased |
Finest journey insurance coverage bank card general
Nationwide Financial institution World Elite Mastercard
At a look: The Nationwide Financial institution World Elite Mastercard doubles the insurance coverage protection you get with many different playing cards, together with many on this listing. Not solely does it supply a variety of insurance coverage coverages—from emergency medical to journey cancelling, baggage delay and automobile rental protection—however the protection quantities are additionally spectacular (working example: $5,000 in journey cancellation protection). Most notable is the length of emergency medical protection, together with for seniors over 65.
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Nationwide Financial institution World Elite Mastercard
Annual payment: $150
Welcome supply: Earn as much as 40,000 factors.
Card particulars
| Rates of interest | 20.99% on purchases, 22.49% on money advances, 22.49% on stability transfers |
| Earnings required | Private revenue of $80,000 or family revenue of $150,000 |
| Credit score rating | 760 or increased |
| Level worth | 1 level is value $0.01 when redeeming utilizing Nationwide Financial institution’s À La Carte Rewards Plan. |
Professionals
- Travellers with the Nationwide Financial institution World Elite Mastercard get $5 million in emergency medical protection for journeys of as much as 60 days, which is 3 times longer than many different top-tier journey insurance coverage playing cards.
- With different playing cards, the protection interval for travellers aged 65 and older is usually very quick, round 3 to five days. With this card, seniors are lined for journeys of as much as 15 days—greater than 3 times as lengthy—till they attain the age of 75.
- The automobile rental insurance coverage protection applies to leases of as much as 48 days, which is longer than most different playing cards.
- You’re lined towards inconveniences throughout your travels, with above-average journey cancellation protection of $2,500 and journey interruption protection of $5,000.
- The cardboard’s creative journey payment reimbursements system can cowl you for as much as $150 yearly for travel-related prices like airport parking, seat choice, and checked baggage charges.
- Cardholders have limitless entry to the Nationwide Financial institution Lounge on the Pierre Elliott Trudeau airport in Montreal.
Cons
- This card doesn’t include journey accident protection, which suggests you wouldn’t be lined for accidents that happen whereas travelling on a typical service, akin to an airplane or practice.
- The annual payment of $150 is increased than another playing cards on this class.
- The revenue necessities are excessive, at $80,000 private or $150,000 for the family.
Honourable mentions
Scotiabank Passport Visa Infinite
At a look: It will be laborious to overstate the perks of lounge entry. While you use this card to your journey bills, you get simply that: a worry-free haven. The Scotiabank Passport Journey Visa Infinite is a top-notch journey card in its personal proper, providing a strong suite of journey and automobile rental insurance coverage protection. These underneath 65 rise up to 25 days of journey medical insurance coverage, which is spectacular in comparison with another playing cards on this listing. If you happen to’re aged 65 or older although, you might be solely lined for 3 days. The cardboard additionally boasts protection for journey cancellation, flight delays, misplaced baggage, rental automobile collision/ harm, accident insurance coverage and extra.
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Scotiabank Passport Visa Infinite
Annual payment: $150
Welcome supply: Earn as much as $1,100 in worth within the first 12 months, together with as much as 35,000 bonus Scene+ factors. Supply ends October 31, 2025.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
| Earnings required | Private revenue of $60,000 per yr or family revenue of $100,000 per yr |
| Credit score rating | 725 or increased |
| Level worth | 1 Scene+ level = $0.01 when redeemed for journey on any airline or resort (together with Airbnbs). |
BMO Ascend World Elite Mastercard
At a look: Canadians are privileged in terms of healthcare, so it’s no shock we wish to journey with sturdy medical insurance coverage. Whereas many bank cards supply medical protection of as much as $1 million, the Ascend World Elite Mastercard doubles that, providing $5 million in protection for as much as 21 days of journey—on limitless journeys per yr. You’ll additionally get journey accident insurance coverage, which covers you and your partner and dependants for as much as $500,000 on passenger planes, busses, taxis, trains and cruise ships.
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BMO Ascend World Elite Mastercard
Annual payment: $150
Welcome supply: You possibly can earn as much as 100,000 bonus factors (a $667 worth)
Card particulars
| Rates of interest | Rates of interest: 20.99% on purchases, 23.99% on stability transfers, 23.99% on money advances |
| Earnings required | Private revenue of $80,000 or family revenue of $150,000 |
| Credit score rating | 760 or increased |
| Level worth | 1 BMO Rewards level = $0.0067 when redeemed for journey. |
BMO CashBack World Elite
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. Cardmembers are lined 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 $5 million. Plus, it features a free, fundamental membership within the Dominion Car Affiliation and the advantages of its BMO Roadside Help Program.
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BMO CashBack World Elite
Annual payment: $120
Welcome supply: earn as much as 10% money again in your first 3 months and the $120 annual payment waived in your first anniversary
Card particulars
| Rates of interest | 20.99% on purchases, 23.99% on money advances, 23.99% on stability transfers |
| Earnings required | Private revenue of $80,000 or family revenue of $150,000 |
| Credit score rating | 760 or increased |
Professionals
- Cardmembers are lined 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 $5 million.
- Features a free, fundamental membership within the Dominion Car Affiliation and the advantages of its BMO Roadside Help Program.
- At 5%, this card has the very best money again earn price on groceries in Canada.
- Helps you to earn money again in often used classes which you’ll redeem on demand.
Cons
- Though this card gives extraordinarily aggressive earn charges, there are low month-to-month caps on bonus classes: $500 in groceries, $300 in transit, fuel, and EV charging, and $500 in recurring payments. Any purchases over these month-to-month limits will earn on the 1% base price.
- The revenue necessities are excessive, at $80,000 private or $150,000 for the family.
Finest no-fee journey insurance coverage bank card
Rogers Crimson World Elite Mastercard
At a look: If you would like a journey insurance coverage bank card with out committing to an annual payment, take a look at the Rogers Crimson World Elite Mastercard. Not solely does this no-fee card embody helpful journey and rental automobile insurance coverage with perks like free Boingo Wi-Fi, it’s additionally a money again card. Which means that for each $1 you spend on the cardboard you’ll get again 1.5% (or 2% if you happen to’re a Rogers, Fido or Shaw buyer).
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Rogers Crimson World Elite Mastercard
Annual payment: $0
Welcome supply: This card doesn’t have a welcome bonus right now.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on stability transfers |
| Earnings required | $80,000 per yr |
| Credit score rating | 725 or increased |
Professionals
- Playing cards with no annual payment often don’t include journey insurance coverage, however this card comes with six varieties of protection, together with emergency medical for as much as 10 days, and automobile rental theft and harm protection for as much as 31 days.
- You possibly can earn 1.5% money again on all of your purchases (or 2% if you happen to’re a Rogers, Fido or Shaw buyer). Plus, with 3% money again on transactions in U.S. {dollars}, you’ll save on international transaction charges, too.
- Whereas most World Elite playing cards include an annual payment, the Rogers Crimson offers you World Elite advantages like reductions on Reserving.com and free Boingo Wi-Fi for free of charge.
Cons
- To be accredited, you’ll want a private revenue of a minimum of $80,000 or family revenue of a minimum of $150,000.
How does bank card journey insurance coverage work?
Each insurance coverage bundle is tailor-made to a particular card and program however basically, the method is easy. You’ll often must e-book your journey on that bank card however completely different playing cards have completely different guidelines. For instance, some say it is advisable e-book 100% of your journey on the cardboard whereas others don’t have that stipulation. Learn your paperwork to find out your duties. When you e-book, you’ll mechanically have entry to the included protection. You don’t must notify the bank card firm that you simply’re touring or name to activate the protection. That stated, we at all times suggest that you simply learn the documentation out of your bank card firm.
