Are you planning your next trip and considering getting a new credit card? Instead of paying for a separate travel insurance policy, we recommend applying for a credit card that includes travel insurance. 

On top of your trip being covered, these credit cards offer benefits like airport lounge access, companion passes, and priority treatment. 

In this article, we’ll dive into the 8 best credit cards, including travel insurance, their benefits, and what exactly you’ll be covered for. 

What is Credit Card Travel Insurance, and What Does It Cover?

Credit card travel insurance is similar to regular travel insurance but is provided with your travel credit card for no additional fee. It generally covers you in case of a delayed or cancelled flight, medical emergency, lost bags, hotel burglary, and more. Essentially, it’s a safety net for when you travel, covering you for unexpected events that could disrupt your plans. 

Each credit card company is different, but you’ll generally need to charge all or most of your ticket to your credit card to be eligible for the insurance coverage. 

Here’s a quick overview of the different types of travel insurance most credit cards include:

• Out-of-province/country emergency medical insurance: Covers emergency medical expenses incurred while travelling outside your home province or country.

• Trip cancellation insurance: Reimburses non-refundable travel costs if you need to cancel your trip before departure.

• Trip interruption insurance: Covers additional expenses or lost trip value if your trip is unexpectedly cut short due to a covered reason.

• Flight delay insurance: Provides reimbursement for meals, hotels, and other essentials if your flight is delayed for a certain time.

• Baggage delay insurance: Reimburses the cost of essential items if your checked bags are delayed for a certain period.

• Lost or stolen baggage insurance: Covers the replacement value of lost, stolen, or damaged bags and their contents.

• Hotel burglary insurance: Reimburses you for personal items stolen from your hotel room during your stay.

• Travel accident insurance: Provides financial compensation to your beneficiaries for accidental death or serious injury during travel.

• Car rental theft and damage insurance: Covers the cost of repairs or replacement if a rental car is stolen or damaged.

Why You Should Get a Credit Card With Travel Insurance

Here are a few reasons why you should consider getting a credit card with travel insurance rather than getting a separate insurance policy: 

• Additional credit card benefits: Almost all travel credit cards come with other benefits, including airport lounge access, free checked bags, companion vouchers, and more. 

• You’ll save tons of money: Separate travel insurance policies can be expensive. If you travel often, why not get a credit card with insurance?

• You’ll earn points or miles: One of the main reasons people use travel credit cards is the ability to earn points or miles on all your purchases and everyday expenses (including rent and bills!). Once you have enough points, you can redeem them for free flights or travel upgrades. 

• Welcome bonus: Most travel credit cards come with a generous welcome bonus, allowing you to earn thousands of extra points just by signing up and spending a certain amount in the first few months of opening your account. 

Check out our favourite credit cards for flying with Air Canada. They all include travel insurance and tons of other benefits! 

8 Best Credit Cards for Travel Insurance

Many Canadian credit cards include travel insurance, but these are our 8 top picks. We’ll briefly discuss a few of their benefits and the points earning structure and include a link for each where you can see the entire suite of insurance coverage. 

Scotiabank Passport Visa Infinite Card

Best for: Spending money abroad

Annual fee: $150

Interest rate: 20.99% on purchases and 22.99% on cash advances

Income requirement: $60,000 personal and $100,000 household 

The Scotiabank Passport Visa Infinite Card is known for being one of the best with no foreign exchange fees, meaning you can use it abroad, and you won’t be charged a 2.5% to 3% fee. You can also earn up to 3x the Scene+ points on everyday purchases. 

The most notable travel perks include 6 free airport lounge passes and access to the Visa Infinite program. 

Take a look at the insurance coverage here. 

Scotiabank Platinum American Express Card

Best for: Everyday spending and airport lounge access 

Annual fee: $399

Interest rate: 9.99% on purchases and cash advances

Income requirement: $12,000 personal

The Scotiabank Platinum American Express Card also has no foreign exchange fees, making it a great credit card to use abroad. Some notable benefits include: 

• 10 complimentary airport lounge passes

• Concierge service 

• Access to Scene+ Travel 

• Access to American Express Experiences

This card has a super simple points earning structure, getting you 2x the Scene+ points on all purchases. 

More info on the insurance coverage here. 

American Express Aeroplan Reserve Card

Best for: The frequent Air Canada traveller 

Annual fee: $599

Interest rate: 21.99% on purchases and cash advances

Income requirement: N/A

The American Express Aeroplan Reserve Card has a high annual fee, but is offset with incredible Air Canada and airport benefits, including lounge access with Priority Pass, priority airport treatment, and travel credits. 

You’ll earn Aeroplan points on all purchases:

• 3x the points on Air Canada purchases

• 2x the points on dining & food delivery 

• 1.25x the points on everything else 

View the comprehensive insurance coverage here. 

American Express Platinum Card 

Best for: The avid traveller who’s also a foodie 

Annual fee: $799

Interest rate: 30% (balances must be paid in full)

Income requirement: N/A

The American Express Platinum Card is one of the most top-tier American Express cards, as it comes with incredible benefits, including:

• $200 annual travel and dining credits

• Access to the American Express Global Lounge Collection

• $100 NEXUS statement credit 

• Hotel status benefit 

• Toronto Pearson Airport benefits 

Each purchase earns you up to 2x the Membership Rewards points, which can easily be transferred 1:1 to Aeroplan and get you multiple free flights per year. 

Take a look at the Amex Platinum travel insurance coverage here. 

RBC Avion Visa Infinite 

Best for: Frequent travellers who want a versatile points program 

Annual fee: $120

Interest rate: 20.99 on purchases and 22.99% on cash advances

Income requirement: $60,000 personal or $100,000 household 

The RBC Avion Visa Infinite card has a lower annual fee compared to some of the cards on this list, but it includes so many benefits, like:

• Access to the Visa Infinite Hotel Collection and Dining Series

• Concierge service

• Exclusive offers from brands like Rexall, DoorDash, and Petro-Canada

Plus, you can earn 1 Avion point for every $1 spent and 25% more points when you book travel. Avion points can be transferred to four different airline loyalty programs, allowing for a lot of flexibility. 

Take a look at the travel insurance benefits here. 

TD Platinum Travel Visa Card

Best for: Those who want low fees but access to a flexible rewards program

Annual fee: $89

Interest rate: 20.99 on purchases and 22.99% on cash advances

Income requirement: N/A

The TD Platinum Travel Visa Card provides comprehensive travel insurance and is part of the TD Rewards program. You can book travel with Expedia for TD or book through any other travel agency, giving you full flexibility. You’ll also save on car rentals through Avis and Budget Rent a Car. 

The points earning structure is as follows:

• Earn 6x the points on Expedia for TD

• Earn 4.5x the points on groceries and restaurants

• Earn 3x the points on regularly occurring bill payments 

• Earn 1.5x the points on everything else 

Take a look at the insurance coverage here. 

TD First Class Travel Visa Infinite

Best for: Frequent travellers who value flexibility 

Annual fee: $139

Interest rate: 20.99 on purchases and 22.99% on cash advances

Income requirement: $60,000 personal or $100,000 household

For a $139 annual fee, the TD First Class Travel Visa Infinite card includes many benefits, like a $100 TD travel credit, Visa Infinite benefits, and concierge services. 

You can earn:

• 8x the points on Expedia for TD

• 6x the points on groceries and restaurants

• 4x the points on bill payments 

• 2x the points on everything else (plus an annual Birthday Bonus) 

Check out the travel insurance coverage here. 

CIBC Aeroplan Visa Infinite Privilege Card

Best for: Luxurious Air Canada benefits 

Annual fee: $599

Interest rate: 20.99% on purchases and 22.99% on cash advances 

Income requirement: $150,000 individual or $200,000 household 

The CIBC Aeroplan Visa Infinite Privilege Card offers comprehensive travel insurance and an array of premium travel perks, including:

• Access to select Air Canada Maple Leaf Lounges and Air Canada Cafes 

• A free first checked bag for you and up to eight companions

• Priority check-in, boarding, and baggage handling for you and up to eight companions

• A 4th night free when you redeem Aeroplan points for three consecutive hotel nights.

With this card, you can earn:

• 2x Aeroplan points on Air Canada bookings

• 1.5x Aeroplan points on gas, EV charging, groceries, travel, and dining

• 1.25x Aeroplan points on all other purchases

Check out the comprehensive travel insurance here. 

How to Choose the Best Credit Card With Travel Insurance 

When choosing the best travel protection credit card, consider these factors to ensure it aligns with your travel needs and spending habits:

• Type and extent of coverage: If you’re looking for a specific type of insurance coverage, ensure the credit card includes it at the limit you need. 

• Annual fees and income requirements: Some travel credit cards have higher annual fees and minimum income requirements than others.

• Additional travel perks: Benefits like lounge access, priority boarding, and free checked bags can add value to the card beyond insurance.

• Foreign transaction fees: If you plan to use your credit card abroad, look out for no FX fee credit cards that won’t charge you the 2.5% to 3% fee. 

• Rewards program: Benefits like lounge access, priority boarding, free checked bags, and rewards points can add value to the card beyond insurance.

If you have a travel credit card, use it to pay your rent with Chexy. Take advantage of your biggest monthly expense and earn points you could turn into free flights and travel upgrades. 

Get started with Chexy today. 

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FAQs

How do I know if I have travel insurance with a credit card? 

As a general rule of thumb, most travel credit cards include travel insurance. You can take a look at your credit card company’s website, locate your credit card, and you’ll see if it’s included. You can also call customer service with the number provided on the back of your card. 

Does travel insurance cover flight cancellation?

Most travel credit cards cover flight cancellations and delays, giving you about $500 to $1,000 in coverage. Be sure to check with your credit card company for the exact amount. You might also be able to file a claim for compensation, depending on the length of the delay. 

Do you have to activate credit card travel insurance?

In most cases, you don’t need to activate credit card trip insurance, but again, check with your credit card company. Keep in mind that to file a claim, you must have charged a certain percentage or all of the cost of your ticket to your credit card.