If you are traveling to or around Canada, it is important for you to have a credit card with the right type of travel insurance to take care of unexpected billings and emergencies.
Credit cards with travel insurance can help protect you from financial losses when you have a stolen suitcase, a canceled trip for reasons beyond your control, a vandalized rental car, or a health emergency.
Not all credit cards that offer travel insurance are equal. In this article, I have taken out time to write the ten best Canadian travel insurance credit cards as well as their policy limit for you to choose from.
Choosing A Credit Card With Travel Insurance
When searching for a perfect travel insurance credit card, Let the policies, rewards, and fees be your priority. By doing so, you will get a card that works well with lots of inclusive packages that will assist your travels to and around Canada. When choosing the best ten travel insurance credit cards, the following steps are worth considering.
What Insurance Services Do You Need?
To some customers, trip cancellation insurance, trip delay insurance, and primary rental car coverage are what is important. Think about whether you would use other benefits like health emergency insurance or roadside travel assistance.
Read The Terms And Compare Reward Policies
After deciding the travel protection you would likely need, it is best to read the terms and conditions of each credit card and compare reward policy . For example, some travel cards only offer car rental coverage for rental periods in Canada.
Choose A Suitable One That Fits Your Taste And Pocket
You have the following options listed below in choosing a travel insurance credit card. They are all good and suitable depending on the coverage you are looking for.
Best 10 Canadian Travel Insurance Credit Card
Brim World Elite Mastercard
This Card comes with a whopping 15 coverage, more than any other Canadian travel insurance credit card. It can also cater to rare insurance services like mobile device insurance and event ticket cancellation coverage.
You can earn 2% back on your first $25,000 in purchases. Once you reach that limit, you will still get unlimited 1% cashback on everything you buy.
Scotiabank Passport Visa Infinite Card
It offers 20,000 ‘scene’ points upon spending $1000 in the first three months. You can also earn an additional 10000 points every year upon spending 40,000.
It is okay and best for flight delay and trip cancellation coverage. It also provides a robust $500 per insured person towards expenses after just a 4-hour delay.
Scotiabank Gold American Express Card
This is a flexible reward credit card with best-in-class reward multipliers across wide spending categories, including groceries, restaurants, entertainment, gas, and transit.
There is no foreign transaction fee, and it has powerful earn rewards for cardholders. Customers have the base rate of one scene plus a point for every dollar spent.
Bank of Montreal Rewards Credit Card
The BMO covers medical emergency protection for up to $2,000,000. Also included are policies for car rental insurance, trip cancellation/interruption, lost or damaged luggage.
Every Canadian traveler needs emergency medical coverage as Canadian Public Health insurance is not valid outside of Canada, and the Canadian Government will not pay for your medical bills for an illness or accident suffered abroad.
The Maryland Bank National Association Reward Platinum Plus Mastercard
It is an excellent option for those looking to avoid paying an annual fee but seeking some travel insurance coverage.
Its coverage includes mobile device and travel accident insurance, unexpected return home coverage, rental car accidental coverage, and more. MasterCard Travel rewards you when you register your Card, and you will receive offers when you shop and dine with MasterCard partners around the world.
The Platinum Card from American Express
With an annual fee of $699, the platinum card allows you to enjoy stress-free travel with premium perks, benefits, and insurance coverage.
You can also earn 3X the points on eligible Dining and Take Out Purchases, 2X the points on the eligible treble, and 1X the points on everything else you buy.
TD Aeroplan Visa Infinite Card
With a first-year annual fee of $1420 and rewards of $1250 in value, this Card offers insurance for purchases made with the Card. This Card gives VIP benefits when traveling on Air Canada flights plus great travel insurance.
Desjardins Odyssey World Elite Mastercard
The first-year offer is valued at $320, and the net value stands at $632, with rewards earned based on purchases. You can make purchases in six categories, including Grocery, Gas/Transit, Meals, Travel, Bills, and other purchases.
National Bank’s World Elite Mastercard
The Card is the best credit card from NBC (National Bank of Canada). It has one of the best travel and purchases credit card insurance on the market. It has up to $250 travel per year and unlimited access to the National Bank Lounge at Montreal-Trudeau airport. A lot of credit card insurance will cut off emergency medical coverage once you hit 65 years of age, but the National Bank World Elite Mastercard gives you 15 days of coverage until you’re 75 years old.
Canadian Imperial Bank of Commerce Adventura VISA infinite Card
With a welcome bonus of $1250 in value, including a first-year annual fee rebate, CIBC gives a Priority Pass membership and four complimentary visits per year to the airport and lounges worth $1300. It offers exquisite services.
There are numerous travel insurance credit cards in Canada, but the ones I have mentioned offers quality insurance backed up by good offers that will improve their card quality. They also receive high patronage from Canadians traveling in, out, or around Canada.
To get quality coverage with any of the subscribers, your accounts need to be in good standing, and a portion of the entire cost of the transportation ticket must be paid for using the credit card.