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Canadian traveller guide to trip cancellation insurance

6 ways Canadian travellers can protect themselves from the unfortunate cost of flight delays, lost baggage and medical emergencies

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You’ve likely heard the recent horror stories surrounding airports — significant flight delays, lost baggage and (unplanned) sleepovers at the terminal.

In 2023, only 63% of Air Canada flights and 69% of WestJet flights landed on time, according to a report released by Cirium, a U.S.-based aviation analytics company. That means about 140,000 Air Canada flights arrived more than 15 minutes later than scheduled.

And, whether you arrive on time or late, your luggage may not arrive with you. According to a multi-nation survey by Australian-based travel insurance comparison site, CompareTheMarket, 32.1% of Canadian respondents said they’d lost luggage while flying. Most were reunited with their bags within a few days, but 6.7% never saw them again.

Canada flight delay compensation: Know your rights

Amidst the chaos, plenty of would-be travellers have become more knowledgeable about their rights. Air passenger rights in Canada are meant to compensate consumers if their flights are delayed or their baggage is lost.

According to the Canadian Transport Agency (CTA), travellers are eligible for reimbursement up to $2,350 if their baggage is “damaged, delayed or lost” during domestic or international travel. Passengers are also eligible for reimbursements between $125 and $1,000 if their flight is delayed more than three hours. However, you’ll need to go through a lengthy process to make a claim, and the CTA website says it could take more than 18 months for your complaint to be reviewed.

While relying on government legislated air travel compensation is one way to mitigate the financial cost of flight delays and trip interruption, it's not a speedy process — nor is it guarenteed. Instead, consider other options for travel insurance, such as credit card travel insurance, third-party travel insurance, provincial health care plans, employee benefits packages, along with smart trip planning. To help, here are the five additional options that can help compensate you for unforeseen medical emergencies, trip cancellation or delay and lost or stolen luggage.

Importance of trip cancellation insurance and flight delay compensation

According to surveys of U.S. and U.K. travellers, released by [ Which? ] (https://www.which.co.uk/about-which), a not-for-profit U.K.-based consumer comparison site, the top two most common reasons to make a claim are trip cancellation and health-related claims. For U.S. travellers, the third reason to make a travel insurance claim was for lost, damaged or stolen luggage, while U.K. travellers claimed for transportation and flight delays.

Although every policy differs, trip coverage may include trip cancellation insurance, trip interruption insurance, flight cancellation insurance, flight delay compensation and insurance for lost, damaged or stolen baggage.

Like any insurance policy, you can find policies with varying degrees of coverage. Some only reimburse you when certain conditions are met, while more comprehensive coverage is found in policies offering “cancel for any reason” coverage. How much you’ll spend on travel insurance depends on where you live, where you plan to travel, your age, the value of your vacation, how long the trip will be and whether the policy includes medical coverage.

Generally speaking, if you’re under 65 and have no pre-existing health issues, an annual multi-trip premium policy will cost you about $250. This would cover travel medical and extended travel insurance for any trips you take throughout the year, up to a maximum number of days. If you purchase a travel insurance policy, be sure to shop around for the best extra travel insurance .

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Start with free coverage offered by credit cards

It’s also possible to get free travel insurance through your credit card. Many premium travel credit cards offer comprehensive travel insurance packages. The catch is that you must charge a certain amount of your trip expenses — or specific trip costs — to your credit card for the credit card travel insurance to be valid.

For instance, if you need to claim flight delay compensation, you must pay for the airline tickets using that credit card. To claim against your trip cancellation insurance or trip interruption insurance, you need to pay for hotels and transportation costs with that credit card.

On the plus side, if your credit card offers emergency travel medical insurance, you don’t need to charge your flights or hotels to the card for your policy to be valid. As long as your credit card account is in good standing — no missed payments — you can submit a claim.

Some good options for trip cancellation and trip interruption coverage through Visa cards include:

• CIBC Aventura Visa Gold
• CIBC Aventura Visa Infinite
• Scotiabank Passport Visa Infinite

Some good options for trip cancellation and trip interruption coverage through Mastercard include:

• Rogers World Elite Mastercard
• BMO Ascend World Elite Mastercard

Some good options for trip cancellation and trip interruption coverage through American Express cards include:

• Scotiabank Gold Amex
• Amex Platinum
• Amex Cobalt

What does credit card travel insurance cover?

Barry Choi, Money.ca contributor and a Toronto-based personal finance and travel expert, explains that while policies may differ, “the most common types of extended travel insurance” cover the following situations:

• Travel medical coverage. Most credit cards cover the cardholder (and close family members travelling with the cardholder) for a specific period of days, based on your age, up to a set maximum claim amount. For instance, the BMO Ascend World Elite Mastercard offers 31-day medical protection coverage.
• Travel accident coverage If you suffer dismemberment or accidental death while travelling, you or your beneficiary will be paid a lump sum, according to the credit card coverage limits, says Choi.
• Trip cancellation insurance. As Choi explains, this coverage protects you if you need to cancel your trip before departure. Just be aware that this credit card trip insurance may come with conditions and designated “qualifying reasons.” Qualifying reasons are accepted reasons that will prompt coverage and reimburse you the claim amount. The most common reasons are job loss or a death in the family.
• Trip interruption insurance. If you need to return home early for a qualifying reason, explains Choi, this credit card trip insurance will reimburse some of your non-refundable trip expenses.
• Flight delay compensation. When your flight is delayed by a certain amount of time (dependent on the policy), flight delay insurance will cover costs such as accommodations and meals, says Choi.
• Delayed, lost or stolen baggage. If your luggage is delayed (a minimum of four hours), lost or significantly damaged, you can make a claim and be reimbursed. Plus, this credit card insurance allows you to claim any items you need to purchase, such as clothes and toiletries, until you get your bag back, says Choi.
• Car rental insurance. This credit card insurance covers damage or theft to rental cars. However, it doesn’t come with third-party liability insurance, which would help cover costs if you are sued for bodily harm, says Choi.
• Loss or theft from travel accommodation. You can be reimbursed for the cost of personal items stolen from your hotel, motel or travel accommodations.

What happens if I pay using travel rewards or points?

It gets more complicated if you use rewards or points to pay for your trip.

Most credit card insurance policies require that the credit card account be in good standing, with no outstanding balance owed prior to the trip, for the insurance to be valid. Plus, there are spending requirements.

For most credit cards, all costs associated with trip insurance — such as flights, hotels, and transportation — must be paid using the card, either in points or as a standard charge.

Some credit cards, such as the Scotiabank Gold Amex or the National Bank World Elite Mastercard, only require 75% of your trip costs to be charged to the card.

In most cases, this isn’t a big deal for consumers.

However, it could be a problem if you redeemed points to help pay for your trip. In most cases, if you make a travel insurance claim against your credit card insurance, the points spent on the trip will be reinstated (with a penalty) to your account. If you paid a mixture of points and cash, the points would be reimbursed, and the total paid out-of-pocket would be eligible for claim reimbursement.

What happens if I pay for a loved one, but I won’t be travelling with them?

Trip insurance and coverage, through a credit card, only protects the credit card holder and close family travelling with the credit card holder (although, always read the fine print, as not all cards cover loved ones in trip insurance coverage).

If you end up paying for a loved one’s trip but are not travelling with this person, the credit card trip insurance coverage will not cover their trip — or reimburse you for any costs associated with trip cancellation, interruption or loss.

Emergency medical coverage: Start with your provincial health plan

Trip protection can cover a variety of circumstances, from minor inconveniences to major medical situations. While credit cards can offer medical insurance coverage, it may not be sufficient for your needs. Instead, you may want to consider purchasing extended travel insurance — with or without additional medical coverage.

But before you shell out good cash for travel medical insurance, check out the basic coverage offered by your government health care plan.

For instance, Ontario’s provincial plan (OHIP) offers out-of-country coverage for some medical emergencies unrelated to a pre-existing condition under certain conditions. The Ontario government recommends that you take your health card with you when you travel and that you also buy private health insurance. Residents in other provinces can find similar coverage from their provincial health plans.

The benefit is that travel insurance coverage under a provincial health plan is available at no extra cost. However, if you face an emergency, you’ll need to pay your medical expenses upfront and then apply for reimbursement when you return to your province of residence. Be sure to keep receipts for all care costs. Keep in mind that limits to the amount of coverage could mean you’ll only be reimbursed for a percentage of the actual costs. Plus, many emergency medical services may not be covered, such as ambulances and prescriptions.

This protection also won’t cover non-medical losses such as trip cancellation, trip interruption or lost or damaged luggage — although your homeowner’s insurance policy may cover lost or damaged baggage and other belongings. The problem with claiming against your homeowner’s policy is that repeat claims will prompt an increase in premiums, so it often doesn’t make sense to make a claim against your home insurance policy. This is one reason why many travellers opt to purchase third-party travel insurance — known as extended travel insurance — found through a credit card provider, a travel insurance provider or through an employer benefits package.

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Don’t forget your employee plan

Before spending money on extra coverage, check to see if your employer offers extended travel coverage. Many employee benefit packages include travel insurance with medical and extended protection. These policies can vary significantly in the amount and types of coverage it provides. As such, the coverage and limits may not be suitable for your specific needs. It’s important to review your employer-provided package carefully to understand its coverage and decide whether you might need to top it up either with credit card travel insurance coverage or with a separate travel insurance policy.

Travel insurance alternatives

Besides travel insurance, there are a few other ways to protect yourself if you’re unsure of your travel plans.

Booking fully refundable hotels and flights is one way to make things foolproof. This can be better than travel insurance since you can cancel anytime and get a full refund. That said, you’ll pay a premium for this privilege, and it won’t help you if your bags are delayed or if your possessions are stolen from your hotel.

Final thoughts

Some people may think travel insurance is an unnecessary expense. However, like any insurance policy, you’ll be glad you have it if you ever need to make a claim.

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About the Author

Vawn Himmelsbach

Freelance contributor.

Vawn Himmelsbach is a journalist who has been covering tech, business and travel for more than two decades. Her work has been published in a variety of publications, including The Globe and Mail, Toronto Star, National Post, CBC News, ITbusiness, CAA Magazine, Zoomer, BOLD Magazine and Travelweek, among others.

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Credit Card Travel Insurance Vs. Separate Travel Insurance

Updated: Aug 23, 2023, 4:07pm

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Table of Contents

What travel policies have in common, credit card travel insurance, separately purchased travel insurance policies.

You’ve probably heard about the importance of travel insurance . If you get sick or injured while travelling outside of Canada, your provincial or territorial health insurance has limited coverage. Or if you’re halfway through your dream vacation and a family member back home is hospitalized, without travel insurance the costs to get to their bedside are yours alone. But where’s the best place to buy travel insurance?

Airlines and online booking platforms offer coverage as an add-on when you reserve your trip and it’s available through banks, travel agencies and insurance companies. Many credit cards also offer various forms of travel insurance as part of the benefits you pay for in your annual fee.

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Emergency medical

$5 million, $10 million

Cancel For Any Reason (CFAR)

Baggage insurance (Maximum)

$1,000, $3,000

Each option protects you in different scenarios. With so much variation in coverage and price, it’s hard to compare. Fortunately, we did the heavy lifting for you, examining the included benefits offered by a few popular credit cards against separately purchased policies.

Before we look at the differences, let’s look at what the policies have in common.

First, travel insurance is meant to protect against sudden, unforeseen, or unexpected situations. This means that any personal pre-existing medical conditions aren’t covered unless your coverage includes a waiver or offers a pre-existing condition exclusion. Also, travelling for elective surgery or medical treatments of any kind is also not covered.

Secondly, all policies have time limits for when you can initiate a claim (plan on filing within 30 days of the incident, although in some cases you may have longer). You’ll then have additional time to compile and submit supporting documentation. Expect to share an elaborate paper trail detailing what happened and any related expenses you incurred. Receipts are non-negotiable.

Lastly, coverage is null and void anytime it’s a result of illegal activity. You may also be denied if the cause of the incident included alcohol or drugs. It’s important to read each insurer’s list of exclusions to be clear on what is and isn’t covered. As always, an ounce of prevention may be worth a pound of cure.

Credit cards tout travel benefits as a way to offer value in exchange for annual fees. Here, we’re comparing three popular cards that offer travel insurance: The TD®Aeroplan® Visa Infinite Privilege Card , the Scotiabank Gold American Express Card and the BMO Air Miles World Elite Mastercard .

With all of these cards, eligible non-refundable expenses, such as flights or hotel accommodations, must be charged to the credit card to be included in the coverage. You must also remain a cardmember at the time you file your claim and have an account in good standing. Immediate family members are covered, assuming you paid for their travel with your card. Keep an eye on age limits for children: This varies not only by card, but by benefit. All benefits cover children up to 18, but some benefits will cover older adult children if they’re still students.

TD® Aeroplan® Visa Infinite Privilege

The TD® Aeroplan® Visa Infinite Privilege is a top-of-the-line travel credit card that offers comprehensive trip insurance, making it ideal for frequent flyers seeking extensive additional rewards. The downside? The steep $599 annual fee.

This card offers up to $5 million in emergency medical coverage for the first 31 days of your trip if you are 64 years of age or under. (If you’re 65 years of age or older, coverage is for the first four consecutive days of your trip.) Benefits under this coverage include fees for hospital accommodation, physician’s services, lab tests and other diagnostics, ambulance transportation and emergency return home. There’s also specific provisions for private duty nursing (up to $5,000) accidental dental ($2,000 maximum), costs to bring a bedside companion to you if you’re hospitalized (round-trip air fare and up to $1,500 for meals and accommodation), and return of your travelling companion, vehicle and/or dependent children.

Another valuable included benefit is  Trip Cancellation and  Trip Interruption Insurance . This coverage reimburses you for nonrefundable, prepaid expenses you incurred if you unexpectedly have to cancel the trip or have to cut the trip short. You can be reimbursed up to $2,500 per traveller with a maximum of $5,000 per trip for a trip cancellation, and up to $5,000 per traveller with a maximum of $25,000 for all insured travellers for trip interruption. Some examples of covered reasons include hospitalization or death of an immediate family member or a court subpoena.

The last major coverage this card includes is Accidental Death & Dismemberment insurance. This insurance pays out a lump sum if you lose your sight, speech, hearing, a limb, or life while travelling. The coverage maxes out at a generous $500,000.

All travellers have experienced trip delays at one point or another, for example when thunderstorms cancel your flight or your airplane has mechanical issues. With the TD® Aeroplan® Visa Infinite Privilege card, you can be reimbursed up to $1,000 if you’re delayed four hours or more for eligible causes (most commonly severe weather or mechanical issues). It will cover costs such as hotel rooms, taxis and meals.

The card also offers generous coverage  of up to $2,500 per passenger for lost luggage or $1,000 for delayed luggage after four hours so you can buy what you need while waiting for your suitcase to arrive.

• Scotiabank Gold American Express Card

The Scotiabank Gold American Express Card is one of the top rewards cards in Canada with comprehensive travel insurance coverage and only a $120 annual fee.

Starting with the travel emergency medical coverage, this card offers up to $1 million in benefits for 25 days of consecutive travel for cardholders 64 and under, and for three days for cardholders aged 65 and above. While this maximum benefit is less than other cards, it has a long list of eligible expenses following treatment for a medical emergency including:

• Hospital accommodation, medical expenses and doctor charges
• Private duty nursing
• Diagnostic services, including laboratory testing and X-rays
• Ambulance services
• Emergency air transport to the nearest hospital or home
• Prescription drugs
• Emergency dental care due to a blow to the mouth, up to $2,000
• Medical appliances, including a sling, brace, splints or local rental of crutches, a walker or wheelchair
• A bedside companion if you’re hospitalized for more than three days, including round-trip airfare and a subsistence allowance of up to $100 per day (maximum $1,500)
• Vehicle return, maximum $1,000
• Car accident assistance, if your car is disabled due to an accident, with a maximum of $200 per day for three days for accommodation, food or commercial transportation/car rental
• Return of deceased, up to $5,000

If you need to cancel or interrupt your trip for a covered reason, such as the death of an immediate family member or a missed connection due to a mechanical delay, trip interruption coverage and trip cancellation coverage offers up to $1,500 per insured person and $10,000 per trip. And if your flight is delayed for more than four hours due to a covered reason, such as bad weather, mechanical breakdown or overbooking, this card pays up to $500 per person for expenses such a hotel, meals and sundry items, like magazines and snacks.

Lost, delayed or stolen baggage can put a damper on any trip. This card pays a maximum of $1,000 for checked bags lost by a common carrier, and up to $1,000 for the cost of buying essential items, such as clothes and toiletries, if your bags are delayed by more than four hours. This card also offers protection of up to $1,000 if your hotel or motel is burgled in the United States or Canada

While some cards have a provision for accidental death or dismemberment, the Scotiabank Gold American Express Card offers Common Carrier Travel Accident Insurance, which pays out in the event of catastrophic losses while travelling on an airplane or while in transit to or from the terminal. The maximum benefit for loss of life, total or permanent disability or multiple dismemberment is $500,000, while payout for partial dismemberment is $250,000.

BMO Air Miles World Elite Mastercard

The BMO Air Miles World Elite Mastercard is among the best Air Miles credit cards available, offering earn rates on rewards that outpace most other Air Miles cards on the market as well as decent travel insurance for a $120 annual fee.

Whether you’re travelling out of the province or out of the country, this card offers up to $5 million in coverage for eligible medical expenses for the first 15 days of travel if you are age 64 or younger. You are not eligible for coverage if you are 65 or above. Eligible medical expenses include:

• Emergency hospital, ambulance and medical
• Emergency air transportation or evacuation
• Professional services of a physiotherapist, chiropractor, osteopath, chiropodist or podiatrist
• Emergency dental
• Transportation to bedside
• Return of deceased
• Hotel and meals
• Return of vehicle

Under the Common Carrier Insurance provision (similar to Accidental Death and Dismemberment), this card pays out up to $500,000 in the event of accidental injury or death while you are entering or travelling on a common carrier.

If you need to cancel your trip before departure due to a covered reason, such as illness, complications of pregnancy (up to 31 weeks) or cancellation of a business meeting, this card offers up to $1,500 per person ($5,000 per account) in trip cancellation insurance. If you’ve already left on your trip and you need to interrupt or delay your travels, this card reimburses up to $2,000 per person (maximum $10,000 per account) under the trip interruption/trip delay coverage.

Flight Delay Insurance provides $500 in coverage if your flight is delayed more than four hours for expenses such as additional accommodation or meals.

If your bags are lost, stolen or damaged while travelling on a common carrier, Baggage Insurance pays out up to $500 per covered person ($1,000 per account per trip) and up to $500 per covered person ($1,000 per account per trip) if your bags are delayed by more than six hours, compared to four hours for the other two cards. And if your loss is due to a hotel burglary, this card pays up to $1,000 to replace or repair your personal property.

Given the included coverage available with these credit cards, how do paid policies differ? Premium prices vary based on traveller age, destination, coverage amounts and length of trip and add an extra expense to a potentially already big expenditure. Is it worth the extra cost?

Unlike credit cards, the main benefit of a standalone travel insurance plan is choice. Many offer a selection of plan options, such as an all-inclusive plan, emergency medical only or trip cancellation/interruption only. Standalone policies may feature higher coverage limits, or offer additional endorsements, such as a pre-existing condition rider, like the Stable for 3 Months add-on offered by Desjardins , that reduces your stability period (or the amount of time your health must be considered “stable” before you leave on your trip), coverage for adventurous activities that are usually excluded from travel insurance plans ( World Nomads covers more than 250) and Cancel For Any Reason (CFAR) coverage, such as that offered by CAA Travel Insurance .

While the travel insurance offered with your credit card is covered in the annual fee, you must pay for a standalone travel insurance policy, and premiums vary depending on your age, length of your trip, your answers to a health questionnaire (if required) and the amount of coverage you choose.

Here’s a deeper look at the corresponding standalone available from TD, Scotiabank and BMO to see how they compare to the credit card travel insurance.

TD Insurance Travel Insurance

TD Insurance Travel Insurance offers two single-trip insurance plans for trips outside of Canada: The Medical Plan and the Trip Cancellation and Interruption Plan. You can purchase one or both plans within a single policy. There’s also a multi-trip annual option if you travel several times within a year.

Like the TD® Aeroplan® Visa Infinite Privilege card, TD Insurance offers up to $5 million of emergency medical coverage, but there’s no stipulated days of coverage (unless you purchase a multi-trip plan). The maximum payouts are equal for benefits such as accidental dental and the costs to bring a bedside companion to you, but the standalone policy offers additional coverage including:

• Dental treatment due to pain, up to $500
• Paramedical services, such as a physiotherapist, up to $300 per specialist
• Subsistence allowance due to a medical delay, up to $1,500
• Incidental hospital expenses, such as a TV or parking, up to $500

The standalone insurance offers an update for trip cancellation insurance, up from $5,000 per trip with the card to a maximum of $25,000 with the separate policy.

It’s worth noting that the baggage insurance offered by the credit card is superior to that of the standalone policy. For example, the baggage delay benefit for the standalone policy is up to $400 after a 12-hour delay, while the credit card pays out up to $1,000 after four hours.

Scotia Travel Insurance

Scotia Travel Insurance offers comprehensive coverage in the event of a medical or travel emergency, including an all inclusive plan, emergency medical only and trip cancellation/interruption only plan. There’s also a COVID-19 Pandemic Travel Plan if you’re worried about testing positive for COVID-19 during your trip.

A big difference between the Scotiabank Gold American Express Card travel insurance and the standalone plan is the maximum emergency medical benefit: While the credit card offers a maximum of $1 million in coverage, the standalone policy offers up to $10 million in coverage, again without the trip duration restrictions of the credit card. While the credit card has a robust list of eligible medical expenses, the standalone policy is even more comprehensive, offering higher limits for emergency dental ($3,000), vehicle return ($3,000) as well additional expenses including:

• Dental treatment due to pain, up to $300
• Paramedical services, such as a physiotherapist, up to $700 per injury
• Subsistence allowance due to a medical delay, up to $2,000
• Incidental hospital expenses, such as a TV or parking, up to $300
• Childcare expenses during hospitalization, maximum $500

Like all insurance policies, the cost of a Scotia Travel Insurance plan depends on factors such as the cost of your trip, your age and the amount of coverage you choose. With a Scotia Travel Insurance plan you can reduce your premium cost by choosing a $500, $1,000, $5,000 or $10,000 deductible, or the amount you pay before your emergency medical coverage kicks in.

While all insurance policies have stipulations and exclusions about pre-existing conditions, essentially any health condition that existed before the start of your coverage, Scotia Travel Insurance offers an Individual Medical Underwriting Plan for travellers of any age who would like their pre-existing medical conditions covered with no stability requirements.

BMO Travel Insurance

BMO Travel Insurance offers three core plans for travelling outside of Canada: The Premium Travel Plan, Travel Medical Plan and Trip Protection Plan.

Similar to the BMO Air Miles World Elite Mastercard, the paid policy offers up to $5 million in emergency medical coverage. The medical coverage options are also similar. While the standalone policy does not offer flight or travel accident coverage, the credit card offers $500,000 in Common Carrier Insurance. However, the paid policies offers superior levels of trip cancellation and trip interruption coverage.

A big plus of this plan compared to the credit card is there is no maximum age.

Main Benefits of Paid Policies

There’s no question that a paid policy greatly increases the amount of medical reimbursement available to you in case of injury or illness. In most cases, there’s also more comprehensive coverage, such as reimbursement for childcare costs in the event you are hospitalized or evacuation from a remote area.

Paid policies may provide more opportunities to customize your coverage, and offer additional riders, discounts and even specialized coverage, such as a pandemic plan.

Paid policies offer non-tangible benefits as well. Most companies include extra resources for policyholders to help you plan or research safety issues for your destination before travelling. There are also assistance hotlines you can contact while traveling to get recommendations on doctors or medical facilities abroad.

The biggest downside is that you need to shell out additional money for a standalone policy while credit card travel insurance is included in your annual fee. However, insurance is there to protect your assets in case disaster strikes, so the question remains—how much does peace of mind cost you?

Bottom Line

Credit cards offer real, tangible travel insurance benefits that can protect you from unexpected bills. However, there’s no single credit card that covers every facet of travel coverage and many travellers will prefer a more comprehensive policy, especially if you are older or have pre-existing health issues.

In general, for simple trips, credit card insurance will often suffice. But travellers looking for extensive medical and/or evacuation insurance will need to purchase a separate policy or be prepared to pay for possible expenses out of pocket. A third option is that most standalone policies offer a top-up option where you can purchase insurance in addition to an existing policy, such as a credit card.

Ultimately, there is no one-size-fits all to travel insurance. But the good news is, with all the many options on the market there is certainly one to fit your needs and your budget.

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Becky Pokora is an avid traveler with a particular love for the outdoors. She's always looking for new ways to make travel easier, more memorable, and more affordable, particularly by using miles and points.

Your faithful travel companion.

Whether you’re heading to the beach, hitting the slopes, or building memories elsewhere, head out of province knowing you have the travel insurance coverage to meet your needs.

Single Trip Medical Plan coverage 1 includes:

Travel insurance is provided by Allianz Global Risks US Insurance Company – Canadian Branch (Allianz), and administered by Allianz Global Assistance.

1 This information is only a summary. Limitations and exclusions apply. For full details see the Certificate of Insurance .

• $150 Annual fee – First year free*
• Get 45,000 BMO Rewards points when you spend $4,500 in the first 3 months, and 3,750 points for each subsequent month in which you make at least $2,500 in purchases on your card, for 12 months
• Earn 5 BMO Rewards points per $1 spent on travel
• Earn 3 BMO Rewards points per $1 spent on dining, entertainment, and recurring bills
• Earn 1 BMO Rewards point per $1 spent on all other purchases
• Complimentary membership in Mastercard Travel Pass provided by DragonPass, plus 4 annual passes

The sign up bonus of up to 90,000 points is in line with many of the other best travel credit cards in Canada . That said, it’s broken up into two parts. You’ll get 45,000 points when you spend $3,000 in the first 3 months, and 3,750 points for each subsequent month in which you make at least $2,500 in purchases on your card, for 12 months. The card has an annual fee of $150, which is waived for the first year.

As for the earn rate, it sounds good at 5 BMO Rewards points per $1 spent on travel ($15,000 cap); 3 BMO Rewards points per $1 spent on dining, entertainment, and recurring bills ($10,000 cap). All other purchases get you 1 BMO Rewards point per $1 spent. While that may sound good, it’s worth noting that BMO Rewards point is worth .67n cents. That means the card has one of the lowest base earn rates on the market.

What’s appealing about the BMO Ascend World Elite™* Mastercard®* (referral link) is Mastercard Airport Experiences provided by DragonPass and 4 free passes each year. LoungeKey is nearly identical to Priority Pass which has a huge network of airport lounges all over the globe. If you frequently travel, then the included lounge access should be appealing.

Either way, the BMO Ascend World Elite™* Mastercard®* is one of the best credit cards with free airport lounge access . Since lounge membership normally costs $99 USD a year and $32 per visit. You end with $227 USD in lounge passes which is worth more than the annual fee. That said, Plaza Premium lounges recently left LoungeKey. This is significant since most airport lounges in Canada are operated by Plaza Premium. That means your lounge access is of limited use within the country.  

One benefit included with this card that often gets overlooked is the free Boingo Wi-Fi membership. Although you can get free Wi-Fi just about anywhere these days, you can use your Boingo Wi-Fi membership to get internet access on many planes. As in, you can surf while you’re in the air.

I personally think concierge service is a bit overrated since you still need to call them to describe what you want. In the same time, you could have bought the item or made reservations on your own. That said, if you’re trying to make reservations at a restaurant where English isn’t their first language, concierge service could be incredibly useful.

BMO Ascend World Elite™* Mastercard®* Insurance

In my BMO Ascend World Elite™* Mastercard®* review , I’m going to go over the comprehensive insurance package that you get. Not only do you get great travel insurance, but there’s also purchase insurance included.

Travel insurance

• Travel medical – $5,000,000 for 21 days 
• Trip cancellation – up to $1,500 per person / $5,000 total
• Trip interruption – $2,000 per person / $10,000 total
• Trip delay – $200 / Max 10 days
• Flight delay – up to $500 / 6 hours
• Delayed and lost baggage – up to $500 per person / $1,000 total / 6 hours
• Auto rental collision / loss damage – 48 consecutive days / $65,000
• Common carrier travel accident – $500,000

The BMO Ascend World Elite™* Mastercard®* travel insurance is pretty comprehensive but one thing I want to point out right away is that you don’t get hotel/motel burglary included which I find a bit odd. It’s not really a dealbreaker, but considering this is BMO’s top travel credit card, it’s a bit surprising that you don’t get it.

That said, the rest of the travel insurance doesn’t disappoint. Those under the age of 65 get up to $5,000,000 in travel medical for trips up to 21 days. If you’re 65 or older, there is no coverage.

Your trip cancellation insurance is good up to $1,5000 per person but trip interruption only covers each person up to $2,500. The delayed and lost baggage insurance is pretty generous, while the auto rental collision/loss damage is pretty standard.

Here’s the most important thing about the BMO Ascend World Elite™* Mastercard®* travel insurance. If you look at the terms and conditions, it states the following: “Coverage applies only when You charge the full or partial cost of Your Trip to the Primary or Family Cardholder’s Mastercard prior to departure.”

That means if you charge just $1 of your travel expenses to the BMO Ascend World Elite™* Mastercard®* travel insurance, you would be covered. This is significant since most travel credit cards require you to charge 75%-100% of your trip expenses for your travel insurance to be valid.

Purchase insurance

• Purchase protection
• Extended warranty

Although purchase protection and extended warranty are pretty standard for premium credit cards, I can’t state how important they are. With purchase protection, any purchases that are fully charged to your BMO Ascend World Elite™* Mastercard®* will be covered for 90 days from loss, theft or damage. There’s been more than one occasion where I’ve bought something and shortly after I’ve lost it or it’s been damaged. With purchase protection, I’d be able to get it repaired or replaced at no cost. With the extended warranty, the manufacturer’s warranty is doubled up to one additional year which is obviously handy.

How BMO Rewards works

To claim $1 in travel, you need 150 points. Based on this, you end up with a 3.35% return on travel purchases, a 2% return on dining, entertainment, and recurring bills. All other purchases get you .67% in points which is meh. In case you’re wondering, the 150 points is not a typo. BMO devalued its points on May 5, 2021. It now takes 150 points instead of 140 points to claim $1 in travel.

That’s not bad for travel purchases, but it’s a bit low for dining . For example, the American Express Cobalt card gives you a 5% return on dining and the Scotiabank Gold American Express gives you a 4% return. Yes, those are Amex cards, and your Mastercard would be accepted in more places, but it’s important to point out what else is out there.

You can redeem your BMO Rewards points for any travel purchase charged to your BMO Ascend World Elite™* Mastercard®*. Once the charge has been made, you would use the Pay with Points option found in your BMO Rewards account. Once redeemed, you’d see a credit applied to your account in 3 – 5 business days. For more information about BMO Rewards, read my BMO Rewards guide .

Final thoughts

My BMO Ascend World Elite™* Mastercard®* review is neutral. The change in earn rate with spending caps is not something people will be excited about, especially since there are better options out there. That said, the 4 free lounge passes are certainly appealing.

BMO is not responsible for maintaining the content on this site. Please click on the Apply now link for the most up to date information

*Terms and conditions apply

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter: @barrychoi

99 Comments

I’ve had this card for a few years now, really liked it until they recently changed the rules a bit, so you’re getting a bit less velue/$. I was wondering what in your opinion is best travel card in Canada at the moment? When I find a better option I’m planning to try negotiating waving the annual fee or getting a credit in points, any experience with this? Thanks and btw great article!

It depends on what you’re looking for. I like Scotiabank Passport Visa Infinite card since it offers a decent earn rate, a high sign up bonus, 6 airport lounge passes, and no forex fees. You could likely get BMO to waive the fee or offer you points if you threaten to cancel the card, but you need to be prepared to do so if you don’t like what they say. Alternatively, you could check out my list of the best travel credit cards which focuses on sign up bonuses https://www.moneywehave.com/the-best-travel-credit-cards-in-canada/

If I get an additional card for my partner, will he/she also get a referral to LoungeKey and 4 free passes?

Supplementary card members do not get lounge access passes

I’ve had this card for one month. Saw the inflated rates that you have to book at…. No thanks!!

BMO price matches if you call in.

What do you mean BMO price matches?

Have you had travellers comments about BMO master card world elite? I’m in Maui and my card is blocked…ok for security I guess. But there’s no way to do unblock it by phone no matter what. So what is it good for if you can’t fix problem when away!!!! So that’s it for me!

Hi, I have this card and no you don’t have to book at their high inflates rates, not at all. I have booked multiple trips through – including car rental just this week, and they will match what ever best deal you find on the web. Yes it does take a bit longer to book since you have to do it through their agent (so they can match the price)…but I really love this card. Family of four…booked flight to Europe on points, went to Caribbean on points and as I said, just rented cars for Europe on points. Love the lounge access! We go a bit early to the airport and feel like royalty! Yes the redemption rate was better before but I still think it’s worth it!!

I was denied access to the Maple Leaf lounge at YUL. That was frustrating. Is that legitimate?

This card gives you access to Plaza Premium lounges, not Maple Leaf Lounges.

I have had this card for 30 years , finally booked a trip to use points so now am getting rid of it (can’t get rid of it until your points are used) . They really butchered their reward system , hope it was worth it to them . And still advertising that you get 2 points for every dollar , what a farce . There is a multitude of good cards out there with 2% cash back , no games . I have two other choice reward cards and they are great . You would think companies would learn from the Aeroplane and Airmiles fiascos ???

When they changed the points system, customers saw no devaluation as they received extra points. That being said, the new earn rate is definitely not as good as the old one.

I am approaching 1 mill in points on my BMO elite account. Do I lose all my reward points if I cancel my credit card? I am thinking of signing up for a card with positive first year incentives.Can the points be transferred to another program?

Unfortunately, BMO Rewards has no transfer partners. You would indeed lose all your points if you cancel the card.

I’ve had this card for years and just signed up for my LoungeKey account. The app doesn’t show any complimentary passes and my confirmation email states all visits are charged at 27USD. When you say four free annual passes, is that the membership (not the entry fee) you’re talking about?

You card gives you the free annual pass AND 4 annual free passes. Check with BMO to see how the passes are credited to you.

Hi Barry. Specifically dealing with Toronto’s Lounge access, terminal three, are there time limits on how long you can linger there? We have to fight traffic to get to our flights, thought about leaving extra early from home and just holing up in the lounge itself. Would they kick you out if you stayed over 3 hours?

Technically speaking, there’s a 2 hour limit, but it’s not like anyone is going around timing you. That being said, if they asked you to leave after 2 hours, they’d be within their rights. I’ve just never heard of any reports where that has actually happened.

Note that Toronto’s T3 international departure hall has 2 different priorty pass lounges. There’s one that caters towards Asian guests which is better as it’s newer and is more spacious.

Am I able to get the signup bonus for this card if I’ve held (and cancelled/closed) the Air Miles BMO World Elite card within the last year?

Yes, you shouldn’t have any issues getting the bonus since it was a different card you held.

It say on my bmo banking plan that if I have a premium plan my annual fee for the credit card is waive. Too bad there have foreign currency marked up of 2.5%

Yes, if the BMO World Elite Mastercard had no forex fees, it would be even more popular.

I am pissed off at BMO looking for a credit card company where your purchases are protected as with BMO there is no protection at all for online sales when you purchase thru an online form for which you get no copy of your purchase.

I bought a CeeVoo Antenna online thru a form and then by phone because they had no options for Canada.

BMO wants a copy of the purchase order, which they did not give me and if I would have ordered thru the form, there would be no copy of the purchase agreement, so no protection at all.

Thanks for nothing BMO, no looking for a bank I can trust

By the way The CeeVoo antenna is a scam

Too bad BMO doesn’t keep up on scams

To be fair, no credit card company would compensate you the money unless you have proof of purchase. As you stated, CeeVoo antenna is a scam so they probably know to not issue these receipts so you can’t perform a chargeback on your credit card.

I have proof of purchase, but they changed the product. Also how are over the phone sales and online sales protected?

How do you get a copy of an online form, or should we record all calls for over the phone credit card purchases as well?

They finally answered their phone and say the other antenna is from their parent company?

Bait and switch scam is my opinion.

As for BMO very poor

Make a screen capture of your online form next time. That should serve as proof of purchase.

Hey Barry, great review!

So I noticed that if you sign up for their premium chequing account , they give you 150$ rebate towards world elite cards annual fees ( therefore making this card free every year). On top of that, being military I can get that premium chequing for 14$ a month instead of 30$ ( im already paying 14 a month with scotia anyways for my scotia one).

So my question is, is it worth it to switch from my scotia gold amex to this card? Im really interested in the lounge access as well as the no annual fee, but what im hesitating on is the amex 4 points for every dollar spent VS this 3 points for 1 system.

Let me know what you think!

The Scotiagold Amex has a slightly higher earn rate. That being said, since you can get the BMO World Elite Mastercard for free, you might as well get it and use it just for the lounge passes.

Yea I think I’ll just get it and keep earning with the Amex. I’ll literally just get the world elite for lounge passes

I recently got the BMO World Elite card, and with my 4 lounge passes, is the anniversary date for reset based on the calendar year, or my own anniversary date?. Thanks.

It’s based on your anniversary date

This is incorrect. The 4 lounge passes are renewed annually and not on your anniversary date. I made this mistake this year and was charged over $75 cad this spring after using the 4 comp passes in March then 2 passes in May. When I called to question the charges I was told the passes were renewed annually. I received bonus rewards points for the trouble.

Interesting, I looked at the handbook and it just says annually. I assumed that meant per anniversary.

Hi, Barry, Thank you for answering those questions, very helpful. I am with BMO for years with premium chequing account. How do I sign up for 4 free lounge pass?

You need to have the BMO World Elite Mastercard for you to get access to the free lounge passes.

I have the BMO World Elite card in my name, but always travel with my husband. Does that mean he can’t come into the lounges with me? What if I got him a supplementary card? I think I read above that he doesn’t get in even with that?

Your husband can get in as long as you’re travelling with him and you have an extra free pass available. Getting him a supplementary card would not get him access.

Hi Barry – I got the BMO World Elite card for the insurance coverage. If I book a flight through BMO Rewards and pay entirely with my points, will the trip still be eligible for trip cancellation/interruption coverage? Should I charge $1 of the cost to my World Elite card to make it an insured trip?

The BMO World Elite Mastercard insurance is indeed quite generous. If you charge $1 to your card in travel expenses, you’re covered.

Hi Barry, What would be considered travel expenses? Does it have to an air flight?Could it be gas on the way to the airport? A hotel on the trip? Since I will have my annual fee waived every year, I am thinking that I should get one of the Scotiabank cards for the better travel rewards. I spend money on food and bills and very little on dining and entertainment. Thank you so much for your very informative articles and advice!

I’m assuming you’re referring to the travel purchases category where you earn 3 points per $1 spent? It would apply to any merchant that’s considered travel e.g. flights, hotels, travel agencies, tour operators. Gas stations are considered gas.

Do you get the annual fee on the BMO card or a Scotiabank card waived? The Scotiabank Passport Visa Infinite Card is one of the best all in one cards since it gives you a decent earn rate, good benefits and no forex fees.

Hi Barry, Sorry I wasn’t clear! I can get the BMO World Elite annual fee waived every year. I am wondering about the using the travel insurance? You suggested above that $1 of the trip be charged to the card to get the cancellation/interruption coverage for a trip. My understanding is that even a small part of the trip could be charged to the card to have this cancellation/coverage coverage kick in. Is this correct? You also suggested to someone that they get the card for the lounge passes alone as they would be free since the annual fee is waived. I am thinking that we would earn more points, looking at our spending, with the Scotiabank Passport Visa Infinite Card because we will be building a house(building materials), rarely eat in restaurants or go to concerts/movies, buy lots of groceries, gas and travel a fair amount (no forex with Scotiabank Passport). We do have a Home Trust Visa and only use it to save the foreign exchange when traveling or buying online out of country. Since we will get the one card annual fee waived, do you think it would be wise to get the Scotiabank and pay the annual fee while taking advantage of the lounge passes and perhaps the cancellation/interruption coverage that would come with the BMO World Elite? Thanks a lot! Sorry for the lengthy post!

The BMO World Elite Mastercard has excellent insurance since their terms are so open e.g. charge any amount and you’re covered. You’re right in that you could charge $10, and trip cancellation would apply.

If you don’t mind paying an annual fee, getting a card like Scotiabank Passport Visa could benefit you since it has a nice sign up bonus and you get 6 free lounge passes a year. Before your first anniversary, decide if you want to keep the card or cancel it. If you plan to cancel, do it before your annual fee kicks in.

Thanks Barry! Your insight is appreciated!

Hi Barry, regarding the lounge passes is given/credited on an annual basis. I wish to clarify what annual means. For example, if I joint BMO World Elite card in October, 2018, when and what month do I get the next 4 lounge passes, in 2019, or 2020? Thanks.

You’d have to call BMO to find out exactly. I was under the impression that it was on the anniversary if your card membership so that would be October but some people have said it’s Jan. of the new year. I checked the handbook and it doesn’t say definitely what the answer is.

Hi Barry. I have a BMO world elite MasterCard but am only entitled to two passes. Does the benefit vary by province? I’m in Ontario.

The BMO AIR MILES World ELite Mastercard gives you 2 annual lounge passes whereas the BMO World Elite Mastercard gives you 4 annual passes.

Thanks. Do you recommend I switch cards?

I personally prefer the Scotiabank Passport Visa Infinite Card since it gives you 6 annual lounge passes and has no forex fees.

https://www.moneywehave.com/scotiabank-passport-visa-infinite-card-review/

On a phone call August 21 2019 with MasterCard World Elite I was told I can redeem 14,000 points for $100, today September 24th I called and I was told 12000 points will get me $50. What is going on here? I lost half my dollar amount since the point system has changed and MasterCard claims no record of my conversation.

14,000 points for $100 is in travel. You can claim 12,000 points for a $50 statement credit (not travel) which is why there’s such a difference. You’ll obviously want to use your points for travel to maximize your value.

When I first started with this credit card it was great because I could have access to all Airlines and get decent prices. Later on I was restricted to which airline’s I could book or not book and when I was able to book a flight was at a higher rate than I could get elsewhere. This credit card has gone downhill. Actually I have been paying Colby creditor card for my flights for last 2 years and haven’t used these points as they are worthless to me. Time to change to a credit card that doesn’t change their program (originally I got 2% on all purchases). Bye bye scammy BMO world elite MasterCard.

The lounge access to BMO elite card is very cheap. I am right now in LAX airport and lounge access for this card is only till 10:30 am. This means most time of the day it is not usable.

I’m guessing that’s something LAX implemented because there are too many crowds. It has nothing to do with Mastercard.

Hi Barry, I have the BMO World Elite Card for two years and never know how to use the lounge access at the airport, and if I never use before, will the balance carry over year to year? And I usually travel with guess, can I bring guess with me? How many guess allow, and is there a charge for the guess?

First you need to create an account – https://airport.mastercard.com/en/create-account

The four annual passes do not carry over, but you can use them on guests. One pass per guest as well as for you. As long as you have passes, there is no charge. Once you run out of passes, it’s $32 CAD per visit, per person.

BMO World Elite used to be a pretty good card and I spend a lot on it – until now. I am now looking for an off-ramp because the card and service has gone downhill and the travel booking experience is not great as there are always better prices and booking options available directly on the airline sites. I have examples of the BMO Rewards site not working at all and not providing any options whereas the airline sites have a plethora of options. BMO needs to do what Scotiabank is doing with their Passport Infinite card which is brilliant as it allows you to apply your credit to past purchases so you aren’t stuck booking through the bank’s credit card rewards vendor. I also have the Scotiabank Passport Infinite and it has a much lower fee, no supplementary card fee, more lounge visits as well as zero FX fee. Definitely a better option.

Does BMO charge you for the airport lounge visits or memberships fee if you cancel the card before the annual fee kicks in?

No, you won’t get charged for the lounge visits or the annual fee for the second year as long as you cancel it before your anniversary. Obviously any unused lounge passes would be void as soon as you cancel your card.

My husband has a BMO world elite mastercard and I just registered it on airport experiences website. It said that he has 2 free passes to lounges. We are travelling with another couple and I am wondering if we can take them as guest into the plaza lounge in Toronto. I know we will have to pay the cost ( can you confirm $32 CAD each) and would it be just charged to our credit card upon entering the lounge. Also is there a time limit on how long you can stay in the lounge area.

You should be able to bring them as a guest. I believe it’s $32USD, not CAd but I could be wrong. The limit is technically for 3 hours but not one checks.

Can I give my free pass to friend going to thr lounge without me ? Thanks

Hi! I have had the BMO world elite air miles m/c for years. On this forum, I am reading people are collecting BMO points of some sort with use of this card. Is the BMO world Elite air miles card the same as the BMO world elite card? I didn’t know there was a difference.

Hi Krystal,

They are two different cards. There’s the BMO World Elite Mastercard and the BMO Air Miles World Elite Mastercard.

The Air Miles version earns you Air Miles while the regular one earns you BMO Rewards points. Which one is more valuable depends on how you like to redeem your travel.

I plan to use my aeroplan points for a filght to Venice and Hanoi. If I pay the taxes of the flight ticket with the BMO WE mastercard, will I be covered with the travael insurance, trip cancellation trop interruption, flight delay, Delayed and lost baggage ?

Yes, you would be covered as long as you charge any amount to your BMO World Elite Mastercard.

Will this card cover my car rental insurance in Ireland?

You would need to check directly with BMO’s insurance provider for that answer

Looking for senior’s coverage and just looked up BMO World Elite insurance policy before signing up and it looks like it only covers medical if you are 65 and under now.

https://www.bmo.com/pdf/World_Elite_Cardholder_Agreement.pdf

You’re right. I’m not sure if this is a recent change or I just screwed up.

I’m sure it was correct originally when you wrote it but it seems they change these benefits regularly. National Bank’s says “10 days for over 65” which is great compared to others (and OK for me) but despite what it sounds like, it is a bit deceiving as after a long search to find the insurance policy, it seems it’s capped at 74. NB also says it gives access to the Lounge in Montreal (not sure if that’s of any benefit when you live in the other Provinces) but again, the small print says “for international travel”.

BNS says 10 days for 65 or older but the policy is dated 2017 so will check that out to see if they cap it as well. Of course (as you indicated) it may be better to purchase separate insurance if you are over 65 for better coverage. Insurance is a big deal as we get older when travelling!! Many thanks again for your great site and all the information.

Yeah I would advise just getting a separate policy, it’s just more secure and you can find out exactly what you’re covered for at the time of purchase.

If I booked a hotel (3-star or higher) with BMO world elite MasterCard, is the breakfast free according to Mastercard Luxury Portfolio ?

It depends on the hotel but generally speaking, you only get complimentary upgrades, early check-in and late checkout.

Does my BMO Mastercard Elite travel insurance apply to BMO Reward trips?

As long as you paid the remaining balance with your BMO World Elite Credit Card, you’re good.

Is Scotia bank Visa Passport Infinite better than BMO world Elite I was planning on switching what do you recommend? I like the Fact that Scotia has no foreign exchange rate. I

Scotiabank has arguably a better rewards program, but you could argue the BMO World Elite Mastercard has better insurance and the first year is free.

Forex is also a huge benefit of the Scotiabank card but there are credit cards with no annual fee that don’t charge forex fees.

You kind of need to look at everything offered and decide what’s best for you.

Can you give me a list of “no annual fee that don’t charge forex fees.” I was looking at Rogers but I see there program is being downgraded in June 2020.

This article lists all your options. It includes the ones with fees so just read the bullet points.

https://www.moneywehave.com/canadian-credit-cards-without-foreign-transaction-fees/

I have a BMO World Elite Master card. I have booked airfare and hotels for a holiday in Netherlands next month for my wife and I. The airfare was paid using my Reward points and the hotels on my Master card. Due to the current issues with travel, I am concerned the trip may be cancelled. If that happens, can I claim the points used for the flight reservation and the cost of lost hotel bookings? Thanks

AYou would only be able to make a claim if Amsterdam has a travel advisory.

Hi Barry, I have had a BMO World Elite Mastercard for 8 years and have used the complimentary passes that were a benefit of this card several times. However, in March 2020 I visited a LoungeKey airport lounge (Heathrow) but on my next statement I noted a charge, even though I had not been to an airport lounge for over 18 months. I disputed the charge with BMO and was told there are no complimentary passes with this card. When did this change and were you aware of that? Thanks, Chris

The BMO World Elite Mastercard still has lounge access – https://www.bmo.com/main/personal/credit-cards/bmo-rewards-world-elite-mastercard/

I don’t get why the rep was told there are no complimentary passes when there are clearly 4.

I would call back and ask again.

Is there a direct comparison showing detailed numbers for BMO world elite Mastercard vs Scotiabank Passport Visa benefits, insurance, etc?

For price matching, let’s say you find a cheaper price on Air Canada’s site compared to the BMO Travel portal. BMO will price match.

As for comparing the card to the Scotiabank Passport Visa Infinite, you can check out my two reviews.

https://www.moneywehave.com/bmo-world-elite-mastercard-review/ https://www.moneywehave.com/scotiabank-passport-visa-infinite-card-review/

Thank you very much! Great info gained.

I have the world elite and plan to use Paytm to pay property tax charged to the MC. Can I use the BMO rewards to pay the balance once the bill is posted? (Points to pay CC balance)?

BMO Rewards does allow you to use points to claim a statement credit. In case you didn’t know, Paytm recently increased their fees so using them to pay your property taxes may not be worth it.

Thanks. The property is rental so the charges are deductible. I have a great number of points and will be cancelling the card since the only value was the (4) lounge key passes. The Scotia Visa has 6 Priority Pass passes and has no FOREX so I should not be carrying two cards with passes especially when there is no travel for at least 2021. Thanks

Hi Barry. Thanks for all the great info, and especially for replying to comments. I have always saved my BMO World Elite points just for travel, because of the 1.4% return compared to the much lower return for either merchandise or statement credit. However, I recently noticed on their rewards site (under the “invest” section) that they are offering $100 for 15000 points redeemed, as long as it goes into one of three types of BMO bank accounts. This is a 1.33 % rate of return for cash, which is way better than what you would get for a statement credit, although it seems like it’s pretty much the same thing (since I could just use the money in the account to pay my statement). Is there something I’m missing? I don’t currently have a BMO bank account, but one of the account types that is eligible for the offer has no monthly fees, so it’s not like I’d be losing out that way. Just wondering your thoughts on this. (BTW, I was only able to see the $100-for-15000 points offer when I was signed into my account; the info is not there when I am not signed in.

In the past, using points for the invest section usually only applied to things such as RRSP, TFSA, Investorline etc.

Is there now a regular bank account that it applies to? The $100 for 15,000 points may also just be a limited time offer.

Hi Barry. Big fan of your site. It could be worth mentioning that Lounge Key and Priority Pass recently lost access to Plaza Premium lounges, which makes those 4 free passes much less valuable. I have this card, and am planning to cancel it for that reason.

https://creditcardgenius.ca/blog/priority-pass-loungekey-plaza-premium

I had been meaning to update this with the change, but frankly, I’ve been too lazy.

Smart of you to cancel. With the removal of Plaza premium, your lounge passes are almost useless in Pearson (unless you’re flying T3) and Vancouver.

DO NOT GET THIS CARD.

I am a physician who has been using their World Elite Master Card for 3 years now. I make almost all my purchases with the card, and they’ve continued to increase my credit limit accordingly. I hadn’t run into any issues with them initially – but that was because I hadn’t had any issues needing to be dealt with period. But I remember the first couple of times I needed assistance (to dispute unfair charges), the bank did little to help my cause. Not particularly satisfied, I continued with them anyways, mostly for the travel perks including lounge access.

Then things really got bad. Due to COVID, I hadn’t been able to use the lounge pass until recently when lounges finally reopened in my city (Toronto). I attempted to use the pass a few days ago and was shocked to hear that, actually, BMO neglected to renew its contract with Toronto’s Pearson Airport this summer. I ended up needing to pay for the lounge. I sent an angry message via my online account asking for compensation for the lounge cost, as it should’ve been included in my credit card anyways and I had used it at the same location in pre-covid days without problem. I had also said that if they fail to resolve the matter appropriately, I wanted to move forward with canceling my card. The rep who messaged me back gave a standard message stating that with my World Elite I have access to “1000 airport lounges”….and basically provided no explanation as to what just happened nor any compensation. They said to feel free to message them again if I still wanted to cancel the card.

And here, ladies and gents, is where things went from bad to ridiculous: every time I tried sending a message (to cancel the card) a 404 error showed up. At a loss, I ended up “disputing” the airport lounge payment in order to write down my desire to move forward with the cancellation. Another 404 message. Essentially anything I tried to do on that account took me to a 404 page as if they’re purposely stopping me from cancelling. I figured maybe if I accessed via my phone instead of my laptop, I may miraculously be able to send the message. Not so – in fact I suddenly ended up being locked out of my account. I called various service numbers at BMO, first to try and access my online account again. And then to actually cancel my card and close my account. Both times I was told I had to “visit a branch and provide ID in order to proceed”. No explanation as to why, only that my account was “flagged” as such and they had no clue. I frustratingly told them that from the very beginning starting with my application for this card, I had never needed to step into a branch to “provide ID” in order to do anything. I am currently traveling and won’t be back home to “step into a branch” until another 2 weeks. Again, crickets on their end as to any suitable explanation.

So, now I’m abroad without access to my credit card account or any ability to monitor what the heck this fraudulent bank is doing to it until I return. I’m pondering whether to report it stolen or something just so they’d actually close the card. It’s apparent they’re putting up barriers upon barriers to stop me from canceling, and in the meantime just cementing my decision further to do so. I will never ever use any of BMO’s services again.

All very valid points.

In regards to the lounge access. Plaza Premium lounges (which are in almost every Canadian airport) recently left Priority Pass and Mastercard Airport Experiences.

So technically, it wasn’t BMO’s fault. That said, you’re not wrong as the lounge passes are almost useless in Canada now.

I’ve been advising my readers to switch to the American Express Gold Rewards Card since they specifically give you Plaza Premium passes.

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Upcoming Changes to Insurance on BMO Credit Cards

BMO has announced a number of changes to the insurance coverage on many of its credit cards, which take effect as of July 6, 2023.

It’s a bit of a mixed bag of positive and negative changes; however, the most notable amendment is the upcoming loss of flight and baggage delay coverage for award bookings.

BMO has announced a number of changes to insurance coverage on many of its credit cards, which will take effect on July 6, 2023.

The changes affect the following credit cards:

• BMO Ascend® World Elite®* Mastercard®*
• BMO AIR MILES®† World Elite®* Mastercard®*
• BMO eclipse Visa Infinite Privilege* Card
• BMO eclipse Visa Infinite* Card
• BMO CashBack® World Elite®* Mastercard®*
• BMO World Mastercard
• BMO World Elite®* Business Mastercard®*
• BMO AIR MILES®† World Elite®* Business Mastercard®*
• BMO Rewards® Business Mastercard®*
• BMO AIR MILES®† No-Fee Business Mastercard®*

The complete details for changes to each card are listed on the BMO website ; however, we’ll highlight the most notable ones below.

It’s important to note that any bookings made before then will be bound by the current coverage on the credit cards, even if the date of travel is after July 6.

So, as long as you make your booking prior to July 6, 2023, you’ll be bound by the current suite of coverage on your credit card, and the upcoming changes won’t affect your travel. However, any bookings made on or after July 6, 2023, will be bound by the amended insurance coverage.

As a reminder, BMO’s suite of World Elite®†Mastercards currently covers award bookings from any program, since the language on the policies stipulates that you’re covered as long as you charge the full or partial  cost of the trip to your credit card.

This means that by simply paying for the taxes and fees with an eligible BMO World Elite®* Mastercard®*, you’ll enjoy coverage for baggage and flight delays.

However, as of July 6, you’ll need to charge the full cost of your trip to a BMO credit card in order to be covered for flight delay or baggage delay insurance. This is a negative development for anyone who uses certain BMO credit cards to be covered for award bookings in the event of a baggage or flight delay.

Of the aforementioned credit cards, the insurance coverage on the BMO Ascend® World Elite® Mastercard ® , the BMO eclipse Visa Infinite Privilege Card, and the BMO AIR MILES® World Elite Mastercard have the strongest overall packages.

Aside from the loss of flight and baggage delay coverage for award bookings, the most notable changes that will affect the BMO eclipse Visa Infinite Privilege* Card, and BMO AIR MILES®† World Elite® Mastercard ® as of July 6, 2023, are as follows:

• Out-of-province and out-of-country emergency medical insurance coverage will increase from $2 million to $5 million per insured person, per trip
• Trip cancellation and trip interruption insurance will decrease from $2,500 to $1,500 per insured person for eligible expenses
• Car rental collision/loss damage will be extended to additional drivers whose names are listed on the rental car agreement
• Car rental accidental death & dismemberment and personal effects coverage will no longer be available
• Flight delay insurance will kick in after a delay of four hours instead of six hours
• Coverage for baggage delays increases from $200 to $500 per insured individual
• Baggage delay coverage kicks in after a delay of six hours instead of 12 hours
• Baggage loss, theft, or damage coverage decreases from $750 to $500  per insured

The most notable changes that will affect the BMO eclipse Visa Infinite Privilege* Card as of July 6, 2023, are as follows:

• Being diagnosed with an epidemic or pandemic disease will be added as a covered reason for trip cancellation/interruption insurance
• Baggage loss, theft, damage, and delay insurance will only be included on your outbound trip. Essential items purchased due to a baggage delay upon returning to your home province or territory are not covered.

If you have any of the affected credit cards, be sure to give the changes a thorough read to see how you’ll be affected, if at all. 

How to Ensure Insurance Coverage on Award Bookings

When these changes take effect, you’ll no longer be able to use any BMO credit cards to pay for the taxes and fees on an award booking and be covered for baggage and flight delays.

Once this happens, you’ll only be covered on award bookings that use the same points that you earn with the BMO credit card.

For example, you’ll continue to enjoy flight and baggage delay insurance on AIR MILES® bookings if you pay the taxes and fees with an AIR MILES® co-branded credit card.

Likewise, you’ll be covered for flight and baggage delays on a BMO Rewards booking if you pay for the remainder of the booking with a BMO Rewards credit card.

However, if you were to pay for the taxes and fees on, say, an Aeroplan booking with any BMO credit card, you won’t be covered for flight and baggage delay insurance. 

Instead, you’ll need to pay with a different credit card altogether, such as the National Bank World Elite Mastercard or a co-branded Aeroplan credit card , to be covered for an Aeroplan redemption.

Generally speaking, the same holds true for any other award booking. Paying the taxes and fees on a WestJet Rewards redemption with a WestJet co-branded credit card will ensure coverage, whereas paying with most other credit cards won’t.

Therefore, it’s important to pay for the taxes and fees on an award booking with the right credit card. Otherwise, you might not be covered.

If insurance coverage for award bookings is important to you, consider adding the National Bank World Elite Mastercard to your wallet, especially since it has the best all-around insurance coverage for any Canadian credit card.

Of course, you may also enjoy protection through a private travel insurance plan, the Montreal Convention , EC261 (commonly referred to as EU261), or Canada’s Air Passenger Protection Regulations .

BMO has announced upcoming changes to the insurance coverage on many of its credit cards. While the changes are a mix of positive and negative across the board, the most notable amendment is the upcoming loss of coverage for flight and baggage delay insurance on most award bookings.

Be sure to give the changes a thorough read if you stand to be affected. The changes take effect on July 6, 2023, and until then, it’s business as usual.

Once again, any bookings made prior to July 6 will be covered by the current iteration of insurance, even if travel occurs after July 6. 

† Terms and conditions apply. Please refer to the BMO Website for the most up to date information.

• Earn 80,000 MR points upon spending $15,000 in the first three months
• Plus, earn  40,000 MR points  upon making a purchase in months 14–17 as a cardholder
• And, earn 1.25x MR points on all purchases
• Also, receive a $200 annual travel credit
• Transfer MR points to Aeroplan and other frequent flyer programs for premium flights
• Unlimited airport lounge access for you and one guest at Priority Pass, Plaza Premium, Centurion, and other lounges
• Credits and rebates for business expenses throughout the year with Amex Offers
• Bonus MR points for referring family and friends
• Qualify for the card as a sole proprietor
• Annual fee: $799

I think the post need to be updated as I just got off the phone on 2 separate occasions confirming that even if you booked it before July 6th, 2023 we will not be covered under the old policy.

Changes are coming to your BMO CashBack World Elite Mastercard Insurance Effective July 6, 2023, we will be making some changes to the insurance included with your credit card, as well as improving the format and language of your Certificate of Insurance. Please note, if you book and charge travel arrangements to your credit card before July 6, 2023, and are travelling after this date, any eligible claims resulting from your trip will be reviewed based on your current coverage.

Would the Chase sapphire card or the Chase Ritz card provide insurance for all taxes and fees on an award booking? Is there any language on their terms which states maybe the travel must be done in USD or should originate from the US or something like this? If someone has already entered the US credit card strategy, I think those cards would be superior in terms of insurances, right?

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Protect Your Travel Plans: Trip Cancellation Insurance Explained and the 5 Best Policies

Jessica Merritt

Editor & Content Contributor

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Best Cheap Trip Cancellation Insurance: battleface

Best extensive trip cancellation reasons: img, best comprehensive trip cancellation coverage: tinleg, best layoff protection: aegis, best cancel for any reason: seven corners, what is trip cancellation insurance, when to buy trip cancellation insurance, trip cancellation insurance covered reasons, cancel for any reason trip cancellation coverage, annual travel insurance, trip cancellation vs. trip interruption, is trip cancellation insurance worth it, credit cards with trip cancellation insurance, choosing trip cancellation insurance , final thoughts.

We may be compensated when you click on product links, such as credit cards, from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

You’ve booked your flight, hotel, and tours and are ready to go on your trip — but what happens if you can’t make it? Unexpected circumstances can pop up that force you to cancel your trip, such as illness or natural disasters. If you can’t get refunds from travel suppliers, trip cancellation insurance can help.

Let’s look at what trip cancellation covers, whether you need a trip cancellation policy, and what you should know before shopping for a plan.

The 5 Best Trip Cancellation Insurance Policies

You’ll have plenty of options if you want a cheap, standalone trip cancellation policy, comprehensive travel coverage, or Cancel for Any Reason (CFAR) coverage.

Consider these trip cancellation insurance policies that offer good value and coverage, quoted for a 35-year-old visiting Mexico on a $1,500 trip in September 2023:

We were quoted just $20 for a battleface Discovery Plan with trip cancellation benefits up to $1,500. But that’s all it offers — you won’t get trip interruption coverage, medical coverage, evacuation, loss or delay, or other benefits offered by comprehensive travel insurance plans.

IMG’s iTravelnsured Travel Essential plan isn’t CFAR coverage, but it has multiple covered reasons for cancellation. You’re covered for foreign and domestic terrorism, financial default, medical reasons, and accommodations made uninhabitable. Our $35.92 quote offered up to 100% of the total trip cost for trip cancellation and 125% for trip interruption. 

TinLeg’s Basic travel insurance plan covers up to 100% of your total trip cost for trip cancellation , but you’ll also get other major travel insurance coverages. This plan we were quoted $41 for offers trip interruption, travel delay, baggage delay, emergency medical, evacuation and repatriation, and more. 

Like the battleface plan, Aegis Go Ready Trip Cancellation insurance covers up to 100% of your trip cost if you need to cancel — but not much else. But a big value-add is employment layoff coverage , which allows you to get reimbursed if you need to cancel your trip due to involuntary layoff or termination of employment. We were quoted $45 for this plan.

The Seven Corners Trip Protection Basic plan offers optional CFAR coverage, which reimburses up to 75% of your trip cost for reasons not otherwise covered by your policy. Regular trip cancellation and interruption coverage offer reimbursement of up to 100% of your trip cost. Our quoted cost for this plan came to $58.

Trip cancellation insurance is a type of travel insurance. With trip cancellation coverage, you can get reimbursement for nonrefundable prepaid travel expenses if you need to cancel your trip before departure. Trip cancellation is one of the main coverage areas for travel insurance, the other being medical emergency coverage.

Many comprehensive travel insurance policies offer trip cancellation coverage; standalone trip cancellation insurance is less common than comprehensive travel policies. Travel credit cards may offer trip cancellation coverage as a cardholder benefit, as well.

How Trip Cancellation Insurance Works

Trip cancellation insurance kicks in if you must cancel your trip due to unforeseen circumstances such as an illness, injury, or other covered reasons. You can get reimbursed for nonrefundable expenses if you have travel cancellation insurance and need to cancel your trip.

Covered nonrefundable expenses typically include:

• Hotels and vacation rentals
• Rental cars

Travel insurance policies with trip cancellation coverage often include trip interruption benefits. Similar to trip cancellation coverage, trip interruption benefits can help you recoup your costs if you need to delay or cut your trip short due to covered reasons.

You can usually purchase trip cancellation insurance up to the day before your scheduled departure. Still, you’ll get more value if you purchase insurance as soon as you make your first trip deposit . That way, your travel plans are covered from the start.

Unless you opt for Cancel for Any Reason travel insurance, trip cancellation insurance only applies to covered cancellation reasons. For example, you can’t use trip cancellation insurance to cancel your trip for a refund because there’s rain forecasted for your beach vacation. But, you could get reimbursement if a named hurricane forms after you purchased your policy.

Common reasons covered by trip cancellation insurance include:

• Death, including the death of a family member or traveling companion
• Government travel warnings or evacuation orders for your destination
• Home damage or burglary
• Illness, injury, or quarantine that makes you or a covered travel companion unfit to travel
• Legal obligations such as jury duty or subpoena
• Natural disasters such as hurricanes, earthquakes, or floods affect travel operations at your destination
• Terrorist incidents at home or your destination
• Travel supplier cancellation
• Unexpected military duty
• Unexpected pregnancy complications
• Unexpected work obligations

These are common covered reasons for trip cancellation insurance, but policies vary in coverage . Reviewing the terms and conditions of your trip cancellation insurance is a good idea so you understand what’s covered.

You should also understand what’s explicitly not covered. For example, changing your mind is not a covered reason on a standard trip cancellation insurance policy. And trip cancellation insurance typically doesn’t cover foreseeable events, routine health treatments, substance abuse, sporting events, mental health, acts of war, self-harm, or dangerous activities such as skydiving.

Need to expand your list of covered cancellation reasons? Cancel for Any Reason trip cancellation insurance is an option. 

You can use CFAR to cancel your trip for reasons not covered by trip cancellation insurance, such as changing your mind, fear of travel, unexpected obligations, weather, or budget concerns.

The catch? You’ll pay more for CFAR coverage , and it only reimburses up to 50% to 75% of your nonrefundable travel expenses. Generally, trip cancellation insurance offers 100% reimbursement for covered expenses. 

The other main stipulation is that you’ll need to purchase your coverage within a specified period , usually within 10 to 21 days of your first trip deposit. And to get reimbursement under CFAR, you must cancel your travel within the cancellation timeframe, usually at least 48 hours from your scheduled departure.

Most annual travel insurance policies, also known as multi-trip policies, cover trip cancellation for multiple trips taken within the policy period, usually 12 months. You’ll also typically get coverage for medical expenses.

Trip cancellation insurance covers your nonrefundable travel expenses if you have to cancel before departure, while trip interruption covers your trip costs after departure . For example, trip interruption coverage kicks in if you get injured while traveling and have to go home early.

Trip cancellation insurance can be worth it if you have nonrefundable travel expenses and there’s a risk you’ll have to cancel your travel due to unforeseen events. It offers financial protection if you’re traveling to a destination with potential risks such as natural disasters or political instability — or if you have risk factors at home, such as unpredictable work commitments or family members with health conditions that could interfere with travel. 

If you plan an expensive trip with nonrefundable bookings or deposits, trip cancellation is probably worth it. But if your travel is inexpensive, or most of your travel expenses are refundable, you might not need trip cancellation insurance.

Consider the cost of insurance, the likelihood you’ll need to cancel, and the cost of nonrefundable travel at stake when you decide if trip cancellation is worth it.

What Trip Cancellation Insurance Costs

A basic travel insurance policy with trip cancellation coverage generally costs between 5% to 10% of your trip costs . So a travel insurance policy for a $5,000 trip would cost $250 to $500. Your costs will be higher if you opt for CFAR coverage.

Factors that influence how much your trip cancellation insurance costs include traveler age, trip expenses, trip length, coverage options, and how many people you need to cover.

A comprehensive travel insurance policy with emergency medical or lost baggage coverage and trip cancellation coverage can offer additional value.

If you’re mainly concerned with trip cancellation coverage, look for cheap travel insurance policies that still offer this coverage, but have either nonexistent or low coverage limits for other coverage areas, such as lost baggage or medical evacuation .

You might not have to pay for trip cancellation insurance if you have the right credit card. Some credit cards offer trip cancellation and interruption coverage as a cardholder benefit. 

Credit cards with trip cancellation coverage generally provide between $2,000 to $10,000 per person in trip cancellation benefits, often covering trip interruption. 

For example, the Capital One Venture X Rewards Credit Card offers cardholders $2,000 in trip cancellation or interruption benefits per person. With the Chase Sapphire Reserve ® , cardholders get up to $10,000 per person in trip cancellation coverage with a maximum of $20,000 per trip and a $40,000 limit per 12-month period.

If your nonrefundable travel costs exceed the covered benefit offered by your credit card, you may prefer to purchase separate trip cancellation insurance.

If you only need trip cancellation and interruption coverage, your credit card may have adequate protection benefits.

Consider these factors as you shop for a trip cancellation insurance policy:

• Cost: Compare policy premiums and consider how the cost fits into your overall travel budget.
• Coverage Amount: Your trip cancellation coverage should cover all of your nonrefundable prepaid trip expenses. But a policy with too much coverage could be more costly than necessary.
• Policy Limits: Know the policy’s limits, including deductibles, exclusions, and limitations.
• Covered Reasons: A policy that offers a variety of covered cancellation reasons offers the most protection.
• CFAR Coverage: Understand whether CFAR coverage is included in the policy and its additional cost.
• Reputation and Customer Service: Read travel insurance reviews to learn about the experiences policyholders have had, whether they’re good or bad.
• Refund Policies: Understand what happens if you cancel your policy before the trip.

Travel insurance comparison sites such as Squaremouth make it easy to enter your trip details and get quotes from multiple insurance providers.

Trip cancellation coverage can provide valuable peace of mind if you’re concerned about losing nonrefundable prepaid travel expenses. It can be worth it if there’s a chance you’ll have to cancel your travel plans, and you’ll lose money on nonrefundable costs. Before you choose a trip cancellation policy, consider factors including cost, coverage, and cancellation reasons, and look at what’s covered with any credit cards you hold.

For Capital One products listed on this page, some of the above benefits are provided by Visa ® or Mastercard ® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.

The information regarding the Capital One Venture X Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.

Frequently Asked Questions

What is trip cancellation insurance for.

Trip cancellation coverage offers financial protection if you need to cancel or interrupt your trip due to unexpected circumstances. You can get reimbursement for nonrefundable prepaid expenses related to covered travel if you have to cancel your trip.

Is trip cancellation covered in travel insurance?

Most travel insurance policies cover trip cancellation coverage. Other common coverage areas include trip interruption and medical emergencies.

Does trip insurance cover cancellation for any reason?

Travel insurance can offer CFAR coverage, usually as an optional add-on. You can select a CFAR policy if you want more flexibility in canceling your trip and receiving reimbursement.

When should I buy trip cancellation insurance?

It’s best to purchase trip cancellation as soon as you have any money at risk on your trip, usually as soon as you book travel. Buying trip cancellation insurance after booking covers you for unexpected circumstances that could cause you to cancel your trip.

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About Jessica Merritt

A long-time points and miles student, Jessica is the former Personal Finance Managing Editor at U.S. News and World Report and is passionate about helping consumers fund their travels for as little cash as possible.

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BMO Credit Card Insurance Changes

BMO credit cards affected by travel insurance changes

Effective July 6, 2023, travel insurance coverage will change for many BMO credit cards .

This harmless memo can affect your trip and we always recommend that you read your insurance certificate carefully. Bank of Montreal will send full details with your monthly statement if your card is affected.

Here are the personal BMO credit cards that will have some changes regarding travel insurance coverage:

• BMO eclipse Visa Infinite Privilege* Card
• BMO eclipse Visa Infinite* Card
• BMO Ascend World Elite Mastercard MD*
• BMO ® CashBack ® Mastercard ® * World Elite ®
• BMO ® AIR MILES ® World Elite ® * Mastercard ® *
• BMO World Mastercard ® * Card

And then BMO Small Business Credit Cards:

• BMO World Elite ® * Mastercard MD* for Business
• BMO AIR MILES World Elite ® * Mastercard MD* for Business
• BMO Rewards Mastercard ® * for Business
• BMO AIR MILES ® Mastercard ® * for Business

BMO Credit Card Travel Insurance Changes

There are several changes, but the most significant are the changes to the BMO Ascend World Elite Mastercard . It was a popular card because only a portion of the booked trip had to be charged to the card for the entire coverage to take effect.

From now on, this will no longer be the case. If you want this type of insurance, you should consider the National Bank’s World Elite Mastercard ® , which has the best credit card insurance on the market.

Here is a summary of the main changes. Please refer to the official insurance policy that will be provided.

For theses credit cards:

• BMO Ascend World Elite Mastercard

About the BMO ® CashBack ® World Elite ® * Mastercard ® * , the changes are identical to those above. But other changes are also taking place:

Trips booked before July 06, 2023

A trip booked until July 5, 2023 will have the insurance coverage in effect at that time and there will be no change. This is true even if the trip takes place at any time after July 6, 2023.

If a trip is booked on or after July 6, it will be covered according to the changes.

It’s a shame to see advantageous insurance coverage for credit card holders diminish. Especially about charging a travel expense only partially on a credit card to be fully insured.

In return, they will change positively for some other coverages. It is up to each cardholder to know if the changes will still work for them after July 6, 2023.

Use the credit card comparison tool to find out which one is best for travel insurance.

All posts by Caroline Tremblay

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