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Everything You Need to Know About Travel Insurance in Canada

5 min read
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Everything You Need to Know About Travel Insurance in Canada
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There is nothing worse than planning an amazing trip and having to cancel it because you are sick or arriving at your destination and having to go to the hospital because of an illness or accident.

If you are planning a trip to discover the beauty that Canada has to offer in the near future, you should consider apply for travel insurance to cover those unexpected costs or losses.

Read on to learn everything you need to know about travel insurance for visitors to Canada.

What is travel insurance?

Whether you’re planning an extended stay or a short weekend away, travel insurance is something you need to think about before booking your flight. Like any other type ofinsurance policy, travel insurance protects you financially against certain risks or losses when you travel to another country. Essentially, travel insurance covers costs related to medical emergencies. Some travel insurance companies can also help you find the emergency medical care you need and even provide interpreters if necessary.

That said, travel insurance does not replace health insurance. Your policy only covers expenses related to a medical emergency. Therefore, you will not be reimbursed for routine check-ups or visits. In addition, your policy does not cover the cost of an injury resulting from an unnecessary risk (i.e., if you get behind the wheel of a car while intoxicated and have an accident).

In addition to reimbursing you for emergency medical expenses, some travel insurance policies may also compensate you if your luggage is lost during your trip or if you have to cancel or change your flights. This can be very useful if you are planning to visit Canada from a distant country that requires a long and expensive flight.

How does travel insurance work?

You should review travel insurance plans immediately after booking your trip, especially if you are purchasing a plan that covers trip cancellations or changes. If you have to cancel your trip a few weeks after you booked it and you don’t have travel insurance yet, you’ll have to assume the loss because you didn’t buy insurance in time.

Unlike traditional insurance policies, travel insurance premiums are usually paid in one lump sum, as you won’t need extended coverage for years. In most cases, your travel insurance company will reimburse you for expenses covered by your policy after you file a claim. Filing a claim means that you must have proof of your financial loss to be reimbursed. Sometimes insurance companies will cover the costs up front, but it depends on your policy.

Here are a few things to know before diving into the world of travel insurance:

  • As mentioned earlier, travel insurance will not cover costs related to foreseeable consequences. Your policy will only protect you against unforeseeable events such as an accident or sudden illness.
  • Not all unforeseeable events are covered by your policy, so be sure to speak with an insurance broker to understand what is and is not covered before you sign your policy. Pre-existing conditions are also not covered by travel insurance, which means that if you need to see a doctor because of your condition, you will have to pay out of pocket.
  • Different policies offer different coverage. For example, some policies only cover medical expenses, while others also cover trip cancellations or changes. When choosing a package, consider the length of your stay, the activities you will participate in and your health. You don’t want to find yourself in a situation where you have to pay for something out of pocket because the travel insurance you’ve chosen doesn’t cover it.
  • If you travel often, look for travel insurance companies that offer annual or multi-trip policies so you don’t have to worry about apply for a new policy for each trip.
  • Travel insurance plans usually cost between 4 and 10% of the total trip price. This means that if your trip costs $4,000, you can expect your insurance to cost between $160 and $400. The higher the cost, the more risks you are covered against, but again, make sure you do your homework before committing to a plan!

Do you need travel insurance to visit Canada?

If you are planning a trip to Canada, it is important to know that it is not necessary to apply for travel insurance before entering the country. The only exception to this rule is the visa application, in which case you are required to apply for health insurance. That being said, travel insurance is recommended for anyone traveling to Canada, but especially for international workers or students, seniors or anyone visiting for an extended period of time.

You should also consider apply for travel insurance if you participate in high-risk activities such as hiking, camping, skiing, etc. If your flight to Canada is long and expensive, you may also want to consider travel insurance apply for cover the risk of lost luggage or trip cancellation or change.

How do I get travel insurance in Canada?

It is recommended that you use a Canadian travel insurance provider, as they have direct access to Canadian medical facilities, allowing them to pay your bills or process your claim more quickly.

Most travel insurance policies in Canada offer coverage from $50,000 to $200,000, depending on your initial premium. This coverage pays for hospital stays, necessary prescription drugs, doctors’ fees, etc.

This coverage can also protect you against changes in your travel plans or if you have to cancel your trip for certain reasons, such as illness, if this is included in your plan.

American Express Cobalt® Card

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Annual fee
$191.88
Our valuation
$255
Milesopedia first-year estimateFirst-year valueWelcome bonus$255Total$255Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
Up to 15,000 points
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The American Express Cobalt® Card is the best credit card from American Express, whether you want points for travel or cash back.

American Express Cobalt® Card welcome offer

The welcome bonus is paid out monthly over your first 12 months. You earn 1,250 Membership Rewards points for each monthly billing period in which you charge $750 in net purchases to your card, in any category (1X, 2X, 3X or 5X). That adds up to 15,000 Membership Rewards points over the year, a welcome offer we value at $255.

Earning the full bonus means $9,000 in net purchases spread across 12 monthly billing periods. This offer rewards steady monthly spending rather than one large purchase.

You can use these points as statement credits on everyday or travel purchases, at the same rate either way: 1,000 points = $10.

You can also transfer them to Aeroplan, Avios (British Airways and Qatar Airways), Flying Blue, Marriott Bonvoy or Hilton Honors. With the full welcome bonus, that is a choice between:

  • 15,000 Aeroplan points
  • 15,000 Avios points
  • 15,000 Flying Blue Miles
  • 18,000 Marriott Bonvoy points

If hotel points are what you are after, our ultimate guide to Marriott Bonvoy and our complete map of Marriott Bonvoy hotels by category show what those points can actually buy.

American Express Cobalt® Card benefits

Here is what the card gives you, starting with the benefits cardholders use most.

  • 5X points on eligible eats and drinks in Canada: groceries, restaurants and bars, home food delivery and convenience stores. A spend cap applies.
  • 3X points on eligible streaming subscriptions in Canada.
  • 2X points on eligible gas, public transit and ride sharing purchases in Canada.
  • 1 additional point on eligible hotel and car rental bookings made through American Express Travel Online.
  • 1X point per dollar on everything else, with no category restrictions.
  • Points that hold the same value either way: 1,000 points = $10 as a statement credit, or a 1:1 transfer to several airline and hotel loyalty programs.
  • No minimum income requirement, as with every American Express Canada card.
  • Additional cards at no extra cost: the first and every other supplementary card is $0.
  • The Hotel Collection: a room upgrade when available, 12pm check-in and late check-out when available, and up to $100 USD in hotel credit on amenities charged to the room for a stay of two or more consecutive nights, booked through American Express Travel.
  • Front Of The Line® presale and reserved tickets for concerts and theatre performances, plus offers and events curated for cardmembers through Amex Experiences.
  • A soft credit check before you apply: you can see whether you will be approved with no impact to your credit score. This applies to American Express personal card applications.

To see how it compares with the rest of the line-up, read our round-up of the best credit cards from American Express in Canada.

The 5X categories and where they apply

The 5X rate is the reason most people carry this card. In Canada it covers four kinds of merchants:

  • Groceries: Metro, IGA, Sobeys, Super C, Safeway, Whole Foods.
  • Restaurants and bars: sit-down meals, takeout and drinks.
  • Home food delivery.
  • Convenience stores: Couche-Tard, 7-Eleven.

The 2X rate covers gas stations such as Esso, Shell and Petro-Canada, along with public transit and ride sharing.

With the American Express Cobalt® Card, you earn between 1 and 5 points per dollar:

Category Points per dollar
Grocery (Metro, IGA, Sobeys, Super C, etc.) 5
Home food delivery 5
Restaurants and bars 5
Convenience stores 5
Streaming services 3
Service station 2
Transport 2
Travel 1
Other 1

That works out to a 1 to 5% return on those purchases. For example, if you spend $1,000 per month across groceries, restaurants and food delivery, you earn $50 back per month, or $600 per year from that category alone. Transfer the points to a program such as Aeroplan instead and the return can be higher.

You can also stack these categories with the hundreds of stores that offer 5x points.

American Express Cobalt® Card insurance coverage

The card comes with a broad insurance package. The amounts below are the coverage limits; conditions, age limits and exclusions are set out in the certificate of insurance linked in the Insurance section above.

Travel insurance

  • Emergency medical: up to $5,000,000 for the first 15 days of a trip.
  • Travel accident: accidental death and dismemberment of up to $250,000 for you, your spouse and dependent children under age 23 when travelling on a common carrier (plane, train, bus or ship) and the tickets are charged to your card. Supplementary cardholders and their families are covered too.
  • Flight delay: up to $500 for necessary hotel, meal and sundry expenses bought within 48 hours when you are delayed or denied boarding for four hours or more and no other transportation is available. This $500 is an aggregate limit per occurrence, shared with missed connection and delayed baggage coverage.
  • Delayed baggage: up to $500 for essential clothing and sundries bought within four days when your outbound luggage is delayed six hours or more. This $500 is an aggregate limit per occurrence, shared with missed connection and flight delay coverage.
  • Lost or stolen baggage: up to $500 per occurrence for all insured persons combined, for checked or carry-on baggage and personal effects in transit, when the airline tickets are charged to your card. Within that limit, jewellery is capped at $300 per occurrence and golf clubs, including golf bags, at $250 per occurrence.
  • Hotel and motel burglary: up to $500 against the loss of most personal items if your hotel or motel is burglarized, when the stay is charged to your card.

Rental car insurance

Theft and damage coverage is included for a rental car with an MSRP, for its model year, of up to $85,000 excluding all taxes, for rentals of up to 48 days. To use it, decline the Loss Damage Waiver (LDW) or any similar option from the rental company and charge the full rental to your card. There is no cost for this coverage, and it replaces the daily insurance the rental company charges, usually $16 to $23 per day.

Mobile device insurance

Your device is covered for up to $1,000 per occurrence when it is charged to the card, for up to two years from the date of purchase. The payout is based on the depreciated value of the device, which falls by 2% of the purchase price for every completed month, less a 10% deductible. Theft and accidental damage coverage starts on the 91st day after purchase, because the first 90 days are covered by purchase protection.

Purchase protection and extended warranty

Eligible items charged to your card are insured against accidental physical damage or theft for 90 days from the purchase date, up to $1,000 per occurrence for all items combined. The card also extends the original manufacturer’s warranty by up to one additional year on eligible items, with indemnification limited to $10,000 per insured item and $25,000 per Cardmember per policy year for all items combined.

American Express Cobalt® Card fees

  • Card fee: $15.99 per month, which equals $191.88 per year, for residents outside Quebec. Quebec residents are billed $191.88 per year.
  • Additional cards: $0.
  • Purchase interest rate: 21.99%.
  • Cash advance interest rate: 21.99%.
  • Foreign transaction fee: 2.5%.
  • Minimum income required: none.

Because the fee is billed monthly rather than in one annual charge, you can stop and restart the cost in step with how much you are actually using the card.

Legal

American Express is not responsible for maintaining or monitoring the accuracy of information on this website. For full details and current product information, click the Apply Now link. If you apply and get approved for an American Express Card, we may receive compensation from American Express, which can be in the form of monetary payment.

Annual fee

Primary card$191.88
Additional card$0

Annual income required

Individual$0
Household$0

Conversion fees

2.5%

Earning rate

  • 5xRestaurants
  • 5xGroceries
  • 5xConvenience
  • 3xStreaming
  • 2xTransit
  • 2xGas & EV
  • 1xAll spending

Value

1st Year Value$1,828
2nd Year Value$799

Transfer partners

  • AeroplanAirline
  • British Airways ClubAirline
  • Cathay Asia MilesAirline
  • Etihad GuestAirline
  • Flying BlueAirline
  • Hilton HonorsHotel
  • Marriott BonvoyHotel

Travel insurance

Travel medical (under 55)Up to $5,000,000 / 15 days
Travel medical (55-64)Up to $5,000,000 / 15 days
Delayed BaggageUp to $500
Lost BaggageUp to $500
Flight DelayUp to $500
Hotel BurglaryUp to $500
Travel AccidentUp to $250,000

Purchase protection

Purchase ProtectionUp to $1,000 / 90 days
Extended Warranty+1 years
Mobile DeviceUp to $1,000 / 2 years
Auto Rental Collision (primary)Up to $85,000 / 48 days

Our featured card

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National Bank World Elite® Mastercard®

National BankNBC RewardsFirst-Year Annual Fee Rebate
Annual fee
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No annual fee the first year
Our valuation
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Milesopedia first-year estimateFirst-year valueAnnual fee rebated$150Total$150Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
Welcome offer
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With Milesopedia, take advantage of an exclusive offer: your first-year annual fees are refunded with the National Bank World Elite Mastercard. This offer is exclusively available on the Milesopedia network, from June 30 to November 4, 2026.

  • Refund of the first-year annual fee (a $150 value) for the primary cardholder. This fee is charged to your new card account, then refunded as a credit on your statement within five months of opening your account, provided it remains open and in good standing.

The National Bank World Elite Mastercard is the best Mastercard credit card offered by NBC.

With this card, you earn up to 5 points per dollar on your purchases:

  • 5 points per dollar for groceries and restaurants
  • 2 points per dollar on gas and electric recharge purchases
  • 2 points per dollar on recurring bills
  • 2 points per dollar on À la carte Travel
  • 1 point per dollar for all other purchases

And since it’s an NBC mycredit Mastercard, you can use it at Costco.

With this card, you have access to a $150 annual travel credit that you can use in any of these categories:

  • Airport parking
  • Baggage fees
  • Seat selection
  • Access to airport lounges
  • Airline ticket upgrades

What’s more, you can enjoy access to DragonPass airport lounges and unlimited access to the National Bank Lounge at Montreal-Trudeau.

Finally, Milesopedia has named the National Bank World Elite Mastercard as the Best Travel Credit Card in 2023, 2024, 2025, and 2026.

Legal

® Mastercard and World Elite are registered trademarks, and the circles design is a trademark of Mastercard International Incorporated. National Bank is an authorized user.

® The À LA CARTE REWARDS logo is a registered trademark of National Bank of Canada.

® NATIONAL BANK OF CANADA LOUNGE is a registered trademark of National Bank of Canada.

® À LA CARTE REWARDS PLAN is a registered trademark of National Bank of Canada.

® Apple Pay is a registered trademark of Apple Inc., registered in the U.S. and other countries. Apple Inc. is not a sponsor of or participant in National Bank Mobile Banking Solutions.

® Google Pay is a registered trademark of Google LLC. Use of this trademark is subject to Google Inc. Permissions.

TM À LA CARTE TRAVEL is a trademark of National Bank of Canada. The À la carte Travel agency is owned by Transat Distribution Canada Inc. and holds a Quebec permit (No. 753141).

TM À LA CARTE REWARDS is a trademark of National Bank of Canada.

® THE TOTAL, THE CONNECTED and NATIONAL BANK are registered trademarks of National Bank of Canada.

* Mastercard® World Elite®

The National Bank® World Elite® Mastercard® credit card was voted best Mastercard credit card by Milesopedia in 2026, 2025 and 2024.

The National Bank® World Elite® Mastercard® credit card was voted best travel credit card by Milesopedia in 2026, 2025 and 2024.

Every year, Milesopedia reviews credit card offers from major financial institutions and establishes its Ranking based on over 150 criteria such as fees, welcome offer, minimum income required, number of points per category, account credits, insurance, airport lounge access, etc.

  1. Certain restrictions apply. For more information, see the Rewards Plan section or the Plan Rules applicable to point accumulation.
  2. Grace period:
    No interest is charged on purchases made during the month if the cardholder pays the full balance of their account within twenty-one (21) days of the statement date. This grace period does not apply to cash advances and balance transfers. Minimum payment: if your account balance is less than $10, you must pay the balance in full. If you reside in the province of Quebec, your minimum payment is 5% of your account balance plus any overdue amount, or $10, whichever is greater. If you reside outside Quebec, your minimum payment is 2.5% of the credit card account balance plus any overdue amount, or $10, whichever is greater. Account statement: an account statement is sent monthly.

    Table of examples of credit fees calculated over a 30-day period

    Annual interest rate $500 $3,000
    22.49% $9.24 $55.45
    20.99% $8.63 $51.76
    13.2% $5.53 $33.16
    9.2% $3.78 $22.68

    *Variable interest rate in effect as of September 1, 2021.

  3. Balance transfers and cash advances are subject to National Bank credit approval. Each amount transferred cannot be less than $250.
  4. Exclusive to World Elite Mastercard cardholders. Presentation of the physical credit card and boarding pass is required to access the lounge.
    The National Bank® Lounge is accessible to customers traveling on international flights only (excluding flights to Canada and the United States).
    You benefit from free and unlimited access with one guest and two children aged 12 and under.
    Until October 4, 2026 (date subject to change), customers can enter the National Bank Lounge three hours before their flight departure time. From October 5, 2026 (date subject to change), access will be authorized for a maximum duration of 2 hours (3 hours for customers who hold a Private Banking 1859® World Elite® Mastercard® credit card).
    National Bank customers who are not World Elite ® Mastercard ® cardholders can also access the current lounge based on current rates and benefit from a 25 % discount on these rates :
    63,24 $ taxes included for adults (excluding discount)
    $40.24 taxes included for children aged 2 to 12 (excluding discount)
    free for children under 2 (excluding discount)
    The entry fee is subject to change without notice and is the responsibility of the lounge operator.
  5. Subject to providing the required supporting documents in the manner and within the prescribed timeframe. Certain conditions may apply. Only the primary cardholder of a National Bank World Elite Mastercard (Cardholder) whose account is in good standing can request a « Travel Fee Reimbursement ». « Account in good standing » means an account linked to the credit card that does not violate the Credit Card Agreement in any way and on which no restrictions apply. For example, and without limitation, the associated annual fees must have been paid in full. The maximum reimbursement of $150 can be requested from January 1 to December 31 of each year.
    Eligible expenses are:
    airport parking
    baggage fees
    seat selection
    airport lounge access worldwide
    airline ticket upgrades
    A reimbursement request must be made within 60 days of the purchase date. Travel expenses must be charged to the National Bank World Elite Mastercard credit card account. The maximum reimbursement of $150 is applicable per account. Please allow up to 7 business days for the reimbursement to be processed from the date your request is submitted. National Bank reserves the right to request additional supporting documents for validation purposes (e.g., invoices). You must keep all receipts and supporting documents for a period of 12 months from the date you made your reimbursement request. An unused reimbursement in one year cannot be carried over to the next year. You can make your request online at rewards.nbc.ca or by calling 1-800-341-8083 (toll-free) for an agent to assist you with your travel fee reimbursement request.
  6. Point accumulation on grocery and restaurant spending depends on the total gross monthly amount charged to the credit card account, across all categories. Earn 5 points per dollar spent on eligible grocery and restaurant purchases. The 5 points per dollar accumulation is valid for the first $2,500 of gross monthly purchases charged to the account. Beyond this amount, eligible grocery and restaurant spending will earn 2 points per dollar. The calculation of the gross monthly purchase amount is based on monthly billing. A grocery purchase means a purchase made at a merchant whose primary business is selling food, such as a grocery store, delicatessen, supermarket, fruit store, or specialty food store. Meal kit subscriptions and meal delivery services are eligible. Therefore, this definition excludes, among others, retail stores and big-box stores whose primary business is selling non-food items. Some merchants may sell products or services identical or similar to those of eligible merchants, or are separate merchants located on the same premises as eligible merchants, but are classified by Mastercard in different categories. Purchases made from other merchants only earn base reward points. A restaurant purchase means a purchase made at a restaurant, including quick-service restaurants, bars, discotheques, nightclubs, and taverns. To view the full list of Mastercard codes associated with eligible merchants, download the À la carte Rewards Plan® terms and conditions document.
  7. These protections apply if the purchases or rental are paid for in part with the card before departure, except, if applicable, for out-of-province medical-hospital insurance for which it is not necessary to charge the purchase of an à la carte trip and for baggage delay protection where the full cost of transport must have been charged to the card. All these protections apply to the primary cardholder, their spouse and/or their dependent children when they (spouse and dependent children) travel with the cardholder. Extended warranties apply to most new items purchased with the card, in Canada or abroad, provided the manufacturer’s warranty exists and is valid in Canada. Certain conditions, limitations and restrictions apply. For more information and details regarding your insurance coverage, please consult the insurance certificate linked to your card.
  8. Subject to credit approval by National Bank.
  9. Certain conditions apply. Visit mastercard.ca for more information. See all credit card terms and conditions.
  10. To earn 2 points per dollar spent, you must pay for your gas or electric charging purchases at a gas station or certain big-box stores. Some merchants may sell products or services identical or similar to those of eligible merchants, or are separate merchants located on the same premises as eligible merchants, but are classified by Mastercard in different categories. Purchases made from other merchants only earn base reward points. To view the full list of Mastercard codes associated with eligible merchants, download the À la carte Rewards Plan® terms and conditions document.
  11. Recurring bill payments are defined as payments made monthly or regularly that are automatically charged by the merchant to your National Bank World Elite Mastercard. Not all merchants offer recurring payments, and not all recurring payments are considered recurring bill payments. Therefore, some payments may not qualify for accelerated reward points.
  12. To earn 2 points per dollar spent, you must pay for your eligible purchases through the À la carte TravelTM agency section of our À la carte RewardsTM site.
  13. For example, if you spend $400 monthly on groceries, $200 on gas, $100 on recurring bills and $150 on other purchases, the $850 spent will generate 2,750 points, broken down as follows: 2,000 points for grocery spending (since the total gross monthly amount is $850, which is less than $2,500), 400 points for gas spending, 200 points for recurring bills and 150 points for other purchases.
  14. Insurance up to $1,000 in case of breakage, loss or theft of mobile devices for a maximum period of 2 years following the date of purchase. Subject to purchasing the device with the National Bank World Elite Mastercard or a phone service subscription paid by recurring payments from your National Bank Platinum Mastercard starting September 1, 2022. For all conditions, please consult the insurance certificate linked to your card.

Annual fee

Primary card$150
Additional card$50

Annual income required

Individual$80,000
Household$150,000

Conversion fees

2.5%

Earning rate

  • 5xRestaurants
  • 5xGroceries
  • 2xTravel
  • 2xBills & recurring payments
  • 2xGas & EV
  • 1xAll spending

Value

1st Year Value$778
2nd Year Value$923

Card benefits

Airport lounge access$400
Travel creditsIncluded

Travel insurance

Travel medical (under 55)Up to $5,000,000 / 60 days
Travel medical (55-64)Up to $5,000,000 / 31 days
Travel medical (65+)Up to $5,000,000 / 15 days
Trip CancellationUp to $2,500
Trip InterruptionUp to $5,000
Delayed BaggageUp to $500
Lost BaggageUp to $1,000
Flight DelayUp to $500
Travel AccidentIncluded

Purchase protection

Purchase ProtectionIncluded
Extended Warranty+2 years
Mobile DeviceUp to $1,000 / 2 years
Auto Rental CollisionUp to $65,000 / 48 days

Our editorial integrity

Our reviews and rankings are based on an objective assessment. Advertisers do not influence our content. We may receive compensation through some links; our analysis and opinions remain independent.