The perfect journey insurance coverage bank cards in Canada for 2024

In the event you’re one of many practically 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 stable insurance coverage. The kinds of protection you’ll want—and the perks and advantages which can be most dear to you—will rely on the kind of journey you’re taking, so we’ve damaged down our favourites into classes.

Finest journey insurance coverage bank card general

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 record. Not solely does it provide a variety of insurance coverage coverages—from emergency medical to journey cancelling, baggage delay and automotive rental protection—however the protection quantities are additionally spectacular (living proof: $5,000 in journey cancellation protection). Most notable is the period of emergency medical protection, together with for seniors over the age of 65.

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Nationwide Financial institution World Elite Mastercard

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• Annual payment: $150
• Earn fee: 5 factors per $1 on grocery and restaurant purchases; 2 factors per $1 on fuel, EV expenses, recurring invoice funds and journey booked by way of À La Carte Rewards; and 1 level per $1 on all different purchases.
• Welcome provide: You may earn as much as 40,000 rewards factors. Should apply by August 15, 2024.
• Annual earnings requirement: Private earnings of $80,000 or family earnings of $150,000

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• 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 often very quick, round 3 to five days. With this card, seniors are coated for journeys of as much as 15 days—greater than 3 times as lengthy—till they attain the age of 75. 
• The automotive rental insurance coverage protection applies to leases of as much as 48 days, which is longer than most different playing cards. 
• You’re coated in opposition to 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 coated for accidents that happen whereas travelling on a standard service, akin to an airplane or practice. 
• The annual payment of $150 is greater than another playing cards on this class.
• The earnings necessities are excessive, at $80,000 private or $150,000 for the family.

Honourable mentions: Finest journey insurance coverage playing cards with an annual payment

At a look: It might be exhausting to overstate the perks of lounge entry. If you use this card on 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 stable suite of journey and automotive rental insurance coverage protection. These below 65 stand up to 25 days of journey medical insurance coverage, which is spectacular in comparison with another playing cards on this record. In the event you’re aged 65 or older although, you’re solely coated for 3 days. The cardboard additionally boasts protection for journey cancellation, flight delays, misplaced baggage, rental automotive collision/ harm, accident insurance coverage and extra.

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Scotiabank Passport Visa Infinite

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• Annual payment: $150
• Earn fee: 3 Scene+ factors per $1 spent at Sobeys shops; 2 factors per $1 on groceries, eating, leisure and transit; 1 level per $1 on every little thing else. Plus, pay no FX charges
• Welcome provide: earn as much as $1,300 in worth within the first 12 months, together with as much as 40,000 bonus Scene+ factors and first yr annual payment waived. Provide ends July 1, 2024.
• Annual earnings requirement: Private earnings of $60,000 or family earnings of $100,000

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• Comes with complimentary Visa Airport Companion membership and 6 lounge passes per yr, good for greater than 1,200 lounges worldwide.

• You gained’t be charged a international trade payment on purchases made in different currencies.

• This card has a great insurance coverage providing that features as much as 25 days of journey medical insurance coverage for these below 65 years of age plus journey cancellation, flight delays, misplaced baggage, rental automotive collision/ harm, accident insurance coverage and extra.

Cons

• Vacationers aged 65 or older are solely eligible for 3 days of journey medical insurance coverage.
• The rewards on provide listed here are decrease than what’s supplied with another premium bank cards.
• The $60,000 private or $100,000 family earnings necessities shall be out of attain for some.

At a look: Canadians are privileged relating to healthcare, so it’s no shock we wish to journey with sturdy medical insurance coverage. Whereas many bank cards provide 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

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• Annual payment: $150
• Earn charges: 5 factors per $1 spent on eligible journey purchases; 3 factors per $1 on eating, leisure, and recurring invoice funds; 1 level per $1 on every little thing else
• Welcome bonus: You may earn as much as 100,000 factors
• Annual earnings requirement: Private earnings of $80,000 or family earnings of $150,000

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Execs

• The Ascend World Elite Mastercard affords $5 million in protection for as much as 21 days of journey—on limitless journeys per yr.
• With the delayed and loss baggage insurance coverage you’ll be reimbursed as much as $500 per insured individual in case your luggage are misplaced or broken, and in case your checked luggage are delayed greater than 6 hours, you’ll get $500 to buy necessities, too.
• Consists of membership in Mastercard Journey Move and comes with 4 free passes yearly.
• You will get a reduction of as much as seven cents per litre at Shell while you pay with this card.

Cons

• After your first 4 lounge passes, you’ll must pay US$32 per go to.
• This card has an annual payment of $150, which is greater than another playing cards on this class.
• The earnings necessities are excessive, at $80,000 private or $150,000 for the family.

At a look: Many journey bank cards give attention to air journey however for the highway trippers amongst us, we’ve chosen the BMO CashBack World Elite Mastercard. Cardmembers are coated by the BMO World Elite Whole Journey and Medical Safety package deal, 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, primary membership within the Dominion Vehicle Affiliation and the advantages of its BMO Roadside Help Program.

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BMO CashBack World Elite Mastercard

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• Annual payment: $120
• Earn fee: 5% money again on groceries, 4% again on transit, 3% again on fuel and electrical automobile charging, 2% on recurring invoice funds, and 1% again on every little thing else
• Welcome bonus: You may earn as much as 10% money again in your first 3 months and the $120 annual payment waived in your first anniversary
• Annual earnings requirement: Private earnings of $80,000 or family earnings of $150,000

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Execs

• Cardmembers are coated by the BMO World Elite Whole Journey and Medical Safety package deal, 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, primary membership within the Dominion Vehicle Affiliation and the advantages of its BMO Roadside Help Program.
• At 5%, this card has the best money again earn fee on groceries in Canada.
• Permits you to earn money again in continuously used classes which you’ll redeem on demand.

Cons

• Though this card affords 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 fee.
• The earnings necessities are excessive, at $80,000 private or $150,000 for the family.

At a look: The TD First Class Journey Visa Infinite affords as much as $1,500 per individual in journey cancellation insurance coverage. This, together with the medical insurance coverage protection, frequent service journey accident safety, delayed or misplaced baggage protection, and journey help, ought to make it easier to relaxation simple as you propose your journey.

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TD First Class Journey Visa Infinite Card

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• Annual payment: $139 (annual payment rebate—situations apply to qualify)
• Earn charges: As much as 8 TD Rewards factors per $1 on journey; 6 factors per $1 on groceries and eating places; 4 factors per $1 on recurring payments; and a couple of factors per $1 on all different purchases
• Welcome provide: You may earn as much as $800 in worth, together with as much as 100,000 TD Rewards Factors and no Annual Price for the primary yr. Circumstances apply. Account have to be accredited by June 3, 2024. Plus, you get an annual birthday bonus of 10% of your earlier yr’s factors (as much as 10,000 factors).
• Annual earnings requirement: Private earnings of $60,000 or family earnings of $100,000

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• Cardholders can get an annual $100 credit score once they ebook with Expedia for TD.
• Cardholders get an annual birthday bonus of 10% of their yearly purchases again as TD Rewards factors. 
• There are not any journey blackouts, restrictions, or expiry on TD Rewards Factors.

Cons

• You must ebook with Expedia for TD to get the $100 journey credit score.
• There’s a cap of 10,000 TD Rewards factors for the birthday bonus.
• The minimal private annual earnings is $60,000 and the family earnings is $100,000.

Finest no-fee journey insurance coverage bank card

At a look: In order for you a journey insurance coverage bank card with out committing to an annual payment, try the Rogers Pink World Elite Mastercard. Not solely does this no-fee card embrace useful journey and rental automotive insurance coverage with perks like free Boingo Wi-Fi, 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 2% if you happen to’re a Rogers, Fido or Shaw buyer).

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Rogers Pink World Elite Mastercard

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• Annual payment: $0
• Earn fee: 1.5% money again on all purchases, or 2% again for Rogers, Fido and Shaw prospects; 3% money again on all purchases in USD
• Welcome bonus: You may This card doesn’t have a welcome bonus at the moment.
• Annual earnings requirement: Private earnings of $80,000 or family earnings of $150,000

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Execs

• Playing cards with no annual payment normally don’t include journey insurance coverage, however this card comes with six kinds of protection, together with emergency medical for as much as 10 days, and automotive rental theft and harm protection for as much as 31 days. 
• You may 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 Pink 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 earnings of a minimum of $80,000 or family earnings of a minimum of $150,000.

How does bank card journey insurance coverage work?

Each insurance coverage package deal is tailor-made to a particular card and program however usually, the method is straightforward. You’ll normally must ebook your journey on that bank card however completely different playing cards have completely different guidelines. For instance, some say you must ebook 100% of your journey on the cardboard whereas others don’t have that stipulation. Learn your paperwork to find out your duties. When you ebook, 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 advocate that you simply learn the documentation out of your bank card firm. 

Extra of Canada’s finest bank cards: