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A Comparison Between Travel Insurance Credit Cards Relative to Annual Fee

It is always good to carry a card which can cover you while you are travelling, especially if this is all part of being a cardholder. Although travel insurance is great on some credit cards, we don’t want to blindly sign-up for them just based on this factor. Now let’s look at some good travel insurance credit cards and what they have to offer in terms of travel benefits versus annual fees.

Credit Card Annual Fee Travel Benefits
National Bank World Elite MasterCard $150$50 Additional Card Emergency Medical Coverage: Up to $5,000,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $5,000

Flight Delay: Up to $500

Baggage Theft: Up to $500

Baggage Delay: Up to $1,000

Capital One Aspire Travel World Elite MasterCard $120$0 Additional Card Emergency Medical Coverage: Up to $500,000Trip Cancellation: Up to $1,000

Trip Interruption: Up to $5,000

Flight Delay: Up to $250

Baggage Theft: Up to $1,000

Baggage Delay: Up to $100 per day

Capital One IHG Reward Club World MasterCard $120 Emergency Medical Coverage: Up to $500,000Trip Cancellation: Up to $1,000

Trip Interruption: Up to $5,000

Flight Delay: Up to $250

Baggage Theft: Up to $1,000

Baggage Delay: Up to $100 per day

American Express Platinum Card $699$175 Additional Card Emergency Medical Coverage: Up to $500,000Trip Cancellation: Up to $1,500

Trip Interruption: Up to $1,500

Flight Delay: Up to $1,000

Baggage Theft: Up to $1,000

Baggage Delay: Up to $1,000

American Express AeroplanPlus Reserve Card $899$299 Additional Card Emergency Medical Coverage: Up to $500,000Trip Cancellation: Up to $1,500

Trip Interruption: Up to $1,500

Flight Delay: Up to $1,000

Baggage Theft: Up to $1,000

Baggage Delay: Up to $1,000

American Express Air Miles Reserve Card $299$50 Additional Card Emergency Medical Coverage: Up to $100,000Trip Cancellation: N/A

Trip Interruption: N/A

Flight Delay: Up to $500

Baggage Theft: Up to $500

Baggage Delay: Up to $500

CIBC Aerogold Infinite Privilege Card $399$99 Additional Card Emergency Medical Coverage: Up to $5,000,000Trip Cancellation: Up to $1,000

Trip Interruption: Up to $2,000

Flight Delay: Up to $500

Baggage Theft: Up to $500

Baggage Delay: Up to $500

CIBC Aventura Infinite Visa Card $120$50 Additional Card Emergency Medical Coverage: Up to $5,000,000Trip Cancellation: Up to $1,000

Trip Interruption: Up to $2,000

Flight Delay: Up to $500

Baggage Theft: Up to $500

Baggage Delay: Up to $500

CIBC Aerogold Infinite Visa Card $120$50 Additional Card Emergency Medical Coverage: Up to $5,000,000Trip Cancellation: Up to $1,000

Trip Interruption: Up to $2,000

Flight Delay: Up to $500

Baggage Theft: Up to $500

Baggage Delay: Up to $500

TD Aeroplan Visa Infinite Privilege Card $399$99 Additional Card Emergency Medical Coverage: Up to $5,000,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $5,000

Flight Delay: Up to $1,000

Baggage Theft: Up to $2,500

Baggage Delay: Up to $1,000

TD First Class Travel Visa Infinite Card $120$50 Additional Card Emergency Medical Coverage: Up to $1,000,000Trip Cancellation: Up to $1,000

Trip Interruption: Up to 5,000

Flight Delay: N/A

Baggage Theft: Up to $1,000

Baggage Delay: Up to $1,000

RBC Avion Visa Infinite Privilege Card $399$99 Additional Card Emergency Medical Coverage: Up to $500,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $5,000

Flight Delay: Up to $500

Baggage Theft: Up to $2,500

Baggage Delay: N/A

RBC British Airways Visa Infinite Card $165$75 Additional Card Emergency Medical Coverage: Up to $500,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $5,000

Flight Delay: Up to $500

Baggage Theft: Up to $2,500

Baggage Delay: N/A

WestJet RBC World Elite MasterCard $99$49 Additional Card Emergency Medical Coverage: Up to $500,000Trip Cancellation: N/A

Trip Interruption: Up to $5,000

Flight Delay: Up to $250

Baggage Theft: N/A

Baggage Delay: N/A

Scotiabank American Express Platinum Card $399$99 Additional Card Emergency Medical Coverage: Up to $2,000,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $5,000

Flight Delay: Up to $1,000

Baggage Theft: Up to $1,000

Baggage Delay: Up to $1,000

BMO Air Miles World Elite MasterCard $120 Emergency Medical Coverage: Up to $300,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $2,000

Flight Delay: Up to $500

Baggage Theft: Up to $750

Baggage Delay: Up to $200 per day

BMO CashBack World Elite MasterCard $120 (First Year Fee Waived) Emergency Medical Coverage: Up to $300,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $2,000

Flight Delay: Up to $500

Baggage Theft: Up to $750

Baggage Delay: Up to $200 per day

BMO World Elite MasterCard $120 Emergency Medical Coverage: Up to $300,000Trip Cancellation: Up to $2,500

Trip Interruption: Up to $2,000

Flight Delay: Up to $500

Baggage Theft: Up to $750

Baggage Delay: Up to $200 per day

If you take a look at some of the annual fees, a card like the TD Aeroplan Visa Infinite Privilege Card will cost you $399 for the annual fee. However, you have access to a number of benefits such as Complimentary First Checked Bag, Priority Check-in and Priority Boarding, four Annual One-Time Maple Leaf Lounge Guess Access and one Annual 50% Discount on Companion Ticket when you purchase Air Canada Ticket. Additionally, you will have quite a generous travel insurance package as well. If you don`t want to pay a large amount of annual fees simply because you don`t feel that the additional benefits will be of value to you, then you can get a decent travel insurance package by just a credit card with an annual fee of $120.

Between the CIBC Aerogold Infinite Privilege Card and CIBC Aventura Infinite Visa Card, you are getting very similar travel insurance coverage, but one annual fee is $399 and the other is $120. If you`re strictly looking for a good travel insurance package, you can easily purchase a personal premium insurance outside of the credit card world, without having to pay the $399 fee.
Ultimately, it really depends on how your daily lifestyle pertains to the benefits attached to each of the following credit cards I have mentioned above. In previous posts, it is important that a portion or full amount of your travel purchases are made with your credit card in order to enjoy the complimentary travel insurance, so it may be beneficial to choose a credit card which will also help you earn rewards at the same time.

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Pointshogger aims to provide analysis and updates on earning loyalty reward points and maximizing the value of your points. We hope to inspire our readers to experience the joy of travel and make the most out of what they've already got!

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