Best Credit Cards For Travel Insurance In Canada 2025

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With travel insurance credit cards, the scoring model used takes into account factors such as, but not limited to, the length and amount of coverage for emergency medical, travel accident, trip cancellation/delay/interruption, lost/delayed baggage, rental car and hotel/motel burglary.

Keep in mind what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

TD® Aeroplan® Visa Infinite Privilege* Card

The TD Aeroplan Visa Infinite Privilege Card is designed for high income earners who can max out returns on Aeroplan Points.

Rewards: Earn 2 Aeroplan Points for every dollar spent on Air Canada purchases, including Air Canada Vacations. Cardholders also earn 1.5 points for every dollar spent on gas, groceries, travel and dining purchases, as well as 1.25 points on every dollar for other purchases made with your card.

Welcome Offer: Earn up to $3,000 in value† including up to 85,000 Aeroplan points (enough for a round trip to Honolulu†) and additional travel benefits. Conditions apply. Offer effective as of January 7, 2025. Not available for residents of Quebec.

Annual Fee: $599

Other Benefits and Drawbacks: Extensive travel insurance is matched with priority airport privileges and additional travel perks. High income requirements and annual fees put this card out of reach for a lot of consumers.

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CIBC Aventura Visa Infinite Privilege Card

The CIBC Aventura Visa Infinite Privilege Card is best suited for active Aventura Points collectors.

Rewards: 3 points per dollar on CIBC Reward Centre travel purchases, 2 points per dollar on gas, EV charging, groceries, dining, transportation, entertainment and electric vehicle charging and 1.25 on all other purchases.

Welcome Offer: Get up to 80,000 Aventura Points in the first year (25,000 points when you spend $3,000 in the first 4 months, 25,000 points when you spend $6,000 or more in the first 4 months and 30,000 points as an anniversary bonus). This offer is not available to residents of Quebec. Terms apply

Annual Fee: $499

Other Benefits and Drawbacks: Members receive an annual travel voucher, airport lounge passes and NEXUS application credits on top of the welcome bonus. Partial annual fee rebates are only available for primary cardholders with CIBC Smart Plus Accounts.

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CIBC Aeroplan® Visa Infinite Privilege* Card

The CIBC Aeroplan® Visa Infinite Privilege* Card is a good fit for families or groups who regularly travel together.

Rewards: 2 points per dollar on Aeroplan purchases, 1.5 points per dollar on gas, groceries, electric car charging, travel and dining and 1.25 per dollar on other card charges.

Welcome Offer: Get up to 70,000 Aeroplan® points (up to $1,200 in travel value). Earn 20,000 Aeroplan points after making the first purchase, 30,000 Aeroplan points after spending $7,000 or more during the first four monthly statement periods and 20,000 Aeroplan points as an additional anniversary bonus after spending at least $15,000 in the first year. This offer is not available to residents of Quebec. Terms apply

Annual Fee: $599 (Get an up to $139 annual fee rebate every year if you have a CIBC Smart Plus™ Account)

Other Benefits and Drawbacks: Priority services and preferred pricing on flights booked with points help stretch the value of this card. Members will have to use all of the available benefits to offset high annual fees and income requirements.

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Scotiabank Platinum Amex Card

The Scotiabank Platinum Amex Card can benefit frequent travellers who spend a lot of money overseas.

Rewards: 2 points per dollar on all purchases.

Welcome Offer: Earn up to 60,00 points: 50,000 Scene+ points when you spend a minimum of $3,000 in the first 3 months and 10,000 Scene+ points when you spend at least $10,000 within the first 14 months (must open your new Account by October 31, 2025).

Annual Fee: $399

Other Benefits and Drawbacks: This card cuts a few travel benefits for extra airport lounge passes and no foreign transaction fees. Some travel insurance categories only offer a combined maximum instead of coverage for each person.

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BMO AIR MILES World Elite®* Mastercard®*

The BMO AIR MILES World Elite®* Mastercard®* offers accelerated earn rates for Air Miles collectors.

Rewards: Earn 3 AIR MILES Reward Miles for every $12 spent at participating AIR MILES Reward Partners, 2 Miles for every $12 spent at any eligible grocery store and 1 Mile for every $12 on other credit card purchases.

Welcome Offer: 3,000 Air Miles after spending a minimum of $3,000 in the first three months.

Annual Fee: $120 (waived for the first year)

Other Benefits and Drawbacks: Cardholders can save 25% on Miles used to book one flight per year without blackout periods. Travel insurance includes the basics, but it’s only available under strict conditions and doesn’t cover anyone over the age of 65.

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Scotiabank Gold American Express® Card

The Scotiabank Gold American Express® Card is ideal for smaller households that spend less than $50,000 on essentials per year.

Rewards: 6 points per dollar on groceries from select locations, 5 points per dollar on entertainment, dining, food delivery and other grocery purchases, 3 points per dollar on gas, daily transit and streaming subscriptions and 1 point per dollar on all other purchases.

Welcome Offer: Earn up to 40,000 Scene+ points. Earn 20,000 points by making at least $2,000 in eligible purchases in the first three months and get an additional 20,000 points after spending at least $7,500 in the first year. Must open account by July 1, 2025 to qualify.

Annual Fee: $120

Other Benefits and Drawbacks: Higher earn rates cover multiple categories that account for most major living expenses. Returns remain competitive until spending hits the $50,000 annual limit, which drops earn rates on all purchases to 1 point per dollar.

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National Bank World Elite Mastercard

The National Bank World Elite Mastercard extends medical insurance coverage for travellers over the age of 65.

Rewards: 5 points per dollar on groceries and restaurants, 2 points per dollar on gas, electric vehicle charging, recurring bills and Á la carte travel and 1 point per dollar on everyday essentials.

Welcome Offer: None.

Annual Fee: $150

Other Benefits and Drawbacks: Insurance coverage dips in a few categories but wins overall on emergency medical benefits up to the age of 75. It’s worth noting that rewards carry less value across the board than comparable cards.

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National Bank World Mastercard

The National Bank World Mastercard can be useful for senior travellers who spend less than $30,000 annually.

Rewards: 2 points per dollar when net annual spending is over $20,000 and 1.25 points per dollar when net annual spending is under $20,000 or over $30,000.

Welcome Offer: None.

Annual Fee: $115

Other Benefits and Drawbacks: Travel insurance on this card offers the same premium coverage as its World Elite counterpart. Earn rates are based on net annual spending instead of a straightforward rewards structure on most competitor cards.

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American Express Cobalt® Card

The American Express Cobalt® Card is targeted toward travellers who spend a lot on food and drinks.

Rewards: Earn 5 Membership Rewards per dollar spent on groceries (up to $30,000 annually), 3 Membership Rewards points per dollar spent on eligible streaming subscriptions in Canada, 2 Membership Rewards points per dollar spent on rideshares, transit and gas in Canada 1 Membership Rewards point per dollar spent on all other eligible purchases and 1 additional Membership Rewards point for every dollar spent on eligible hotel or car rental bookings made with American Express Travel.

Welcome Offer: In your first year as a new Cobalt Cardmember, you can earn 1,250 Membership Rewards® points for each monthly billing period in which you spend $750 in net purchases on your Card. This could add up to 15,000 points in a year. That’s up to $150 towards a weekend getaway or concert tickets

Other Benefits and Drawbacks: Membership points can be transferred at a 1:1 ratio to other loyalty programs, such as Aeroplan and Marriott Bonvoy. Travel insurance for trip cancellations or interruptions will have to be purchased separately.

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SimplyCash® Preferred Card from American Express

The SimplyCash® Preferred Card from American Express is a viable option for travellers who prefer cash-back rewards over points.

Rewards: Earn 4% cash back on eligible gas station purchases in Canada, 4% cash back on eligible grocery store purchases in Canada (up to $1,200 cash back annually) and 2% cash back on all other purchases.

Welcome Offer: Earn a bonus 10% cash back on all purchases for the first 3 months (up to $2,000 in purchases). Plus, earn a $50 statement credit after making a purchase in month 13. This could add up to $250 in bonus value in the first 13 months.

Annual Fee: $119.88 (billed as $9.99 a month)

Other Benefits and Drawbacks: Even though the 4% earn rate is capped at $1,200 in annual cash back, there’s no limit on the 2% base rate. Cardholders also gain exclusive access to concert tickets, restaurant specials, movie theatre packages and other offers.

The importance of travel insurance can’t be overstated. If you’re travelling overseas, or even just across the border in the U.S., and if you have a medical emergency, travel insurance can save you thousands of dollars in medical costs. For example, Snowbird Advisor Insurance shares the case of a 63-year-old Canadian who was thrown from bicycle while visiting California. He was found unconscious and taken by ambulance to the hospital, where he received a CT-Scan and chest X-ray. His claim for treating fractured ribs and bruising: $47,435.42.

The travel insurance offered by credit cards can vary considerably in terms of types of coverage, but also the policy limits and restrictions. For example, while these three cards all offer emergency medical coverage, the CIBC Aeroplan Visa Infinite Privilege Card offers $5 million for 31 days, Scotiabank Platinum Amex Card offers $2 million for 31 days and BMO Air Miles World Elite Mastercard offers $2 million for 15 days. There are also may be age limitations between different cards: the CIBC Aeroplan Visa Infinite Privilege Card and Scotiabank Platinum Amex Card offer 10 days of coverage for cardholders over age 65, while the BMO Air Miles World Elite Mastercard doesn’t offer coverage for ages 65 and older. Be sure to read the certificate of insurance for complete details of the coverage limits.

Here’s a closer look at the types of coverage that your card may provide:

Emergency medical coverage: Protects you if you get sick or injured during your trip.

Travel accident insurance and/or Common carrier insurance: If you suffer a catastrophic accident during your trip or while travelling in a common carrier (such as a plane or train), this coverage pays out up to policy limits, depending on the extent of your injuries.

Trip cancellation: Reimburses you for non-refundable costs of your trip before you leave.

Trip interruption: Reimburses you for non-refundable costs of your trip once you’ve already departed and you have to return early or if you’re delayed due to transportation (or other covered) issues.

Flight delay: If your flight is delayed due to weather or mechanical issues, for example, this reimburses you for restaurant and hotel expenses.

Lost/stolen baggage: If your bags are lost, stolen or damaged during a trip, you can file a claim for the items you had to replace.

Delayed baggage: If your bags are delayed for a specified amount of time (four or six hours, for example), this coverage reimburses you for personal items you needed to purchase to tie you over.

Hotel/motel burglary insurance: If the place that you’re staying is burgled, this provides coverage for the replacement of personal property that is lost, stolen or damaged.

Car rental collision loss/damage: This covers loss, damage or theft to your rental car. (It does not cover personal damages.)

There are many benefits to travelling insurance, but some of the central ones include:

Peace of Mind When Travelling

Knowing that you’re covered for a medical emergency, accident or for a variety of more minor inconveniences (like if your trip is delayed or cancelled, your baggage is delayed or cancelled or if something is stolen from your hotel) can ensure you have a worry-free trip.

Can Save You Hundreds of Dollars

Travel insurance can save you hundreds or more. In the event of a medical emergency, travel insurance can cover your medical expenses up to a limit (usually in the millions). On a more minor scale, it can save you hundreds in the event that, say, your baggage is lost and you need money to buy clothes on the trip.

There are some drawbacks to travel insurance from a credit card compared to buying it outright.

High Annual Fees

Typically cards that come with travel insurance come with annual fees. If you don’t travel often and don’t enjoy any other benefits (like points or cash back) from your credit card, this cost should be weighed against the cost of purchasing standalone travel insurance.

Insurance Isn’t Automatic 

Travel insurance from a credit card typically only works when you purchase the trip on that specific credit card. 

Read the Fine Print

You’ll want to read the fine print to make sure you’re covered for your trip. When in doubt, call your credit card company to check on any conditions for coverage.

Do You Travel Frequently (To Justify High Annual Fees)

If you travel frequently, a credit card (even with a high fee) can absolutely be worth it for the travel insurance alone. Alternatively, you can comparison shop for multi-trip travel insurance to see what coverage and pricing works best for you.

Lower Coverage Amounts

Your travel credit card may only cover you for a limited number of days, or provide a lower level of coverage than you want.

Learn more: Credit Card Travel Insurance Vs. Separate Travel Insurance

When choosing a credit card with travel insurance, consider the following:

Coverage Details

Each credit card offers a different selection of travel insurance coverages and has different conditions. It’s important to know what’s available and which ones are most important to you. Travel emergency medical and travel accident (common carrier) are two coverages you’ll want to make sure your card has. 

Coverage Limitations

Travel emergency medical coverage is arguably the most important coverage your card can have. With this, be sure to investigate the details. The term (the amount of time your card covers you for) and the amount of medical expenses it will cover are important to know. Be sure to read the insurance certificate to fully understand the terms. Likewise, for trip cancellation and interruption insurance, only specified reasons for cancellation or interruption are covered.

Emergency Assistance Services

This is a service provided by some travel insurance that is essentially a concierge to your travel insurance needs.

Exclusions and Limitations

Travel insurance doesn’t cover everything. Check the fine print for exclusions or limitations on your coverage. For instance, people over 65 years of age may not be covered by travel insurance, or may only be covered for a shorter term than younger people.

You can apply for a travel insurance credit card the same way you’d apply for any other credit card.

Age and Residency

In order to qualify for a credit card, you must be the age of majority in your province or territory and a resident of Canada.

Credit Score

Depending on the card you’re applying for, you may need a specific credit score.

Personal or Household Income

Depending on the credit card you’re applying for, you’ll need to meet their specific income requirements.

Related: Best value credit card Canada

You can maximize your card’s insurance coverages by understanding them, first and foremost.

Understanding Policy Terms and Conditions

Read the fine print of your travel insurance insurance certificate and the policy terms and conditions will help you make the most of your travel insurance, should you have to use it.

Registering Your Travel Plans

You can register your travel plans with the Canadian government for free. This is a free service that allows the government to alert you in case or emergencies abroad or at home.

Keeping Documentation and Receipts

Keep your travel insurance certificate on you and receipts for your flights, hotels and other expenses.

Contacting the Insurance Provider in Case of Emergency

If there is an emergency, keep the contact info for the insurance provider on hand so you can contact them for guidance.

When considering a travel insurance credit card, you’ll want to look at the following factors to know whether it’s worth it:

Credit Card Fees and Annual Costs

Many of the credit cards with the best travel insurance come with steep annual fees. You’ll want to examine whether these are still of value compared to how often you’ll need travel insurance.

Foreign Transaction Fees

If you’re using this credit card for travel, you’ll want to consider whether it charges a foreign transaction fee. Some cards offer travel insurance and have no foreign transaction fee.

Card Acceptance and Accessibility

If you’re using this card for travel (or trying to rack up points to earn your next trip) you’ll want to make sure it’s a provider that’s accepted at the stores you shop at most often.

Whether or not you need additional travel insurance depends on your needs and personal situation. For example, if you’re 67 years old and your credit card’s emergency medical insurance only covers up to age 65, then you’ll need supplemental travel medical insurance. Or, if your card provides coverage for 15 days of travel and your trip is for 21 days, then buying an individual policy is a good idea. Also, if your card only offers trip protection insurance, such as trip cancellation, you’ll need to purchase medical only travel insurance separately.

While your credit card offers travel insurance as part of its benefits package, if it doesn’t have the coverage you need, then it’s best to shop around for a standalone policy. In general, separate travel insurance policies offer better coverage and more options, such as pre-existing condition riders, than credit card insurance. What’s more, paid policies offer you more opportunity to customize your coverage.

Related: Credit Card Travel Insurance Vs. Separate Travel Insurance

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The information for the following card(s) has been collected independently by Forbes Advisor: CIBC Aeroplan® Visa Infinite Privilege* Card and CIBC Aventura® Visa Infinite Privilege* Card. The card details on this page have not been reviewed or provided by the card issuer.