aventura cibc travel insurance

CIBC Aventura ® Visa* Card review

Earn up to 2,500 Aventura Points† for no annual fee.

• Rates & Fees
• Eligibility

1 point for every $1 spent at eligible gas stations, EV charging, grocery stores and drug stores†

1 point for every $1 spent on travel purchased through the CIBC Rewards Centre†

1 point for every $2 spent on all other purchases†

20.99%† Purchase APR non-Quebec residents†

22.99%† Balance Transfer Rate 21.99 for Quebec residents†

22.99%† Cash Advance APR 21.99 for Quebec residents†

$0 Annual Fee No annual fee

2.50% Foreign Transaction Fee 2.5% of the transaction in CDN

Good Recommended Credit Score

$15,000† Required Annual Household Income

By Hannah Logan

• Best CIBC credit cards in Canada
• CIBC Aventura® Gold Visa* card
• CIBC Aventura® Visa Infinite* Card
• CIBC Dividend Platinum® Visa* Card
• Best Visa credit cards in Canada
• CIBC Dividend® Visa Card
• BMO eclipse Visa Infinite Privilege* Card
• RBC Visa Platinum Card
• Best travel credit cards in Canada
• TD® Aeroplan® Visa Infinite* Card
• BMO Ascend™ World Elite®* Mastercard®*
• Rogers™ World Elite® Mastercard®

Quick overview of the CIBC Aventura ® Visa* card

Are you looking for a travel credit card with no annual fee with some handy perks and easy to earn rewards? The CIBC Aventura ® Visa offers new cardholders the opportunity to earn up to 2,500 Aventura Points †  within the first 60 days of your account approval†. Add in a no annual fee, some travel benefits, and the ability to earn rewards on all purchases, and you have yourself a pretty decent travel credit card.

Who's it for?

The CIBC Aventura ®  Visa* Card is ideal for passionate travelers as it allows you to earn rewards for every purchase and later redeem those rewards for travel and more. Cardholders can also easily earn points through everyday spending. Once you have enough points, you can redeem them for a variety of products including travel.

Travel points aren’t the only thing you earn, you’ll also enjoy no annual fee for the primary cardholder, as well as up to three additional cards.

Pros and cons of the CIBC Aventura ® Visa* card

Easy to earn welcome bonus

Points can be earned on all purchases

Use Aventura Points to cover full airfare including taxes and fees

Can book with any airline with no blackout periods and points don’t expire†

Lower earn rate than some other travel cards on the market

Main benefits and features

The CIBC Aventura ® Visa* Card allows cardholders to quickly earn Aventura Points so they can travel faster and farther, with no limitations on airlines you can use your points to book with or blackout periods.

Welcome offer

Join and earn up to 2,500  Aventura Points†   for no annual fee. Earn by completing all of the 5 following activities, worth 500 points each when completed within 60 days of of your CIBC Aventura® Visa* account approval. †

• Share your email address with CIBC
• Sign up for eStatements for your new Aventura Visa Card
• Add an authorized user on your new Aventura Visa Card
• Hold an eligible CIBC chequing account
• Add your Aventura Visa card with Apple Pay®, Samsung Pay or Google Pay™

How to earn rewards with the CIBC Aventura ® Visa* Card

The welcome bonus is a great perk, but CIBC Aventura ® Visa* Card cardholders can easily earn points on a daily basis based on the following structure:

• 1 point for every $1 spent on eligible travel purchases made through the CIBC Rewards Centre †
• 1 point for at $1 spent on eligible gas stations, EV charging, grocery stores, and drug store †
• 1 point for every $2 spent on all other eligible purchases †

All you have to do is shop with your card and, for those who are wondering, no your points won’t expire †  as long as you are a cardholder. Each point is worth about $0.0116, however the value changes based on how you choose to redeem each point.

How to redeem rewards with the CIBC Aventura ® Visa* Card

When it comes time to redeem your rewards, you can do so easily online. Rewards can be redeemed in a number of different ways:

• Travel : flights, hotels, car rentals and more †
• Shopping: redeem for merchandise or gift cards through the CIBC Rewards online catalog †
• Points that pay the bills : your points can be used to pay down your credit card balance or credit card purchases moments after you make them. †

As a general rule of thumb, your points go the furthest when redeemed for travel, especially since with this card you can fly on any airline with no consideration for blackout periods.

To redeem for travel or merchandise, you’ll have to log into your CIBC Rewards account or call the CIBC Rewards Centre. If you want to use your points towards a flight through the Aventura ®  Airline Rewards Chart, you will need to have at least 80% of the required points. You can use your points to fly with any airline with no blackout periods. Also, it’s worth mentioning that your points can be used to cover taxes and fees on flight tickets which is not common with most travel credit cards

Aventura points for flights

If you would prefer to redeem your points towards your statement balance you can do this through your CIBC online banking account. Just click ‘ payment with points ’.

CIBC Aventura ® Visa* card insurance coverage

• Out-of-Province Emergency Travel Medical Insurance †: Those 64 or under are eligible for up to $5M in coverage for 15 days. You get 3 days of coverage if you are age 65 and over on the day of departure.
• Common Carrier Accident †: Up to $500,000 coverage for loss of life or limb in a passenger vehicle/plane/ferry.
• Hotel Burglary Insurance † : This coverage protects your items in case of a hotel burglary, providing up to $2,500 in coverage.
• Purchase Security and Extended Protection Insurance †: Items you charge to the card are protected from loss, damages and theft for up to 90 days. And any item that comes with a manufacturer's warranty automatically gets an additional year of warranty.
• Flight Delay and Baggage Insurance:  You are covered up to $500 per occurrence in case of a flight delay. Similarly, you have $500 for any delayed or lost baggage (Up to a maximum of $1,000 per occurrence for all insured people).
• Auto Rental Collision and Loss Damage Insurance † :  This policy covers rental vehicles with an MSRP up to $65,000 for up to a 48-day rental period.
• Mobile device insurance † : Protects your mobile phone in case of theft or accidental damage, with coverage up to $1,000.
• Trip cancellation † : If your trip gets cancelled you can get up to $1,500 in coverage per person, with a maximum of $5,000 for all insured persons.
• Trip interruption/delay † : If a trip is interrupted or delayed, you can get up to $2,000 in coverage.

Additional perks and features

On top of the main benefits listed above, this card also comes with a few additional perks, including the following:

• 90-day purchase security protection in case your new purchase gets stolen or breaks †
• Auto Rental Collision and Loss Damage Insurance †
• $100,000 Common Carrier Accident Insurance †
• Extended Protection Insurance †
• Aventura Travel Assistant, which tailors travel bookings to your needs, with no booking fees †

Rates and fees

The CIBC Aventura ®  Visa* Card does not have an annual fee. You can also get up to three additional cards at no charge. Cardholders will pay a relatively standard 20.99% † purchase annual interest rate, 22.99% †  (for non-Quebec residents only) cash advance annual interest rate, and a 22.99% †  (for non-Quebec residents only) balance transfer annual interest rate.

CIBC Aventura Visa for Students

Being a student doesn't mean you have to pick a credit card that doesn't offer any rewards or benefits. In fact, student cards can help you develop responsible credit habits, and the CIBC Aventura Visa Card for Students is a perfect example. With this card, you'll enjoy rewards, concierge service, complimentary insurance coverage and a generous welcome bonus.

The CIBC Aventura Visa for Students Card comes with no minimum annual income requirement and a $1,000 minimum credit limit. And get ready for perks galore - you can take advantage of even more student benefits with a free SPC+ membership.

CIBC Aventura® Visa* card compared

Let's see how the CIBC Aventura® Visa* credit card compares to its competitors.

CIBC Aventura® Visa* card vs. TD® Aeroplan® Visa Infinite* Card

If you frequently fly with Air Canada and are looking for a great travel rewards credit card, you can consider the TD Aeroplan Visa Infinite card . This card helps you earn enhanced 1.5x Aeroplan points per dollar spent on eligible gas, grocery and Air Canada purchases. You earn 1x points on everything else. You also get great comprehensive insurance benefits, including travel interruption, baggage protection, mobile device coverage, and more. These benefits are in addition to other great perks, such as the free 1 st checked bag for up to 8 guests on the same itinerary, Visa Infinite privileges and NEXUS security fast pass credits. However, the CIBC Aventura offers similar insurance benefits with no annual fee, while the TD Aeroplan Visa Infinite card has an annual fee of $139. 

Ultimately, the choice between the CIBC Aventura Visa credit card and the TD Aeroplan Visa Infinite card depends on individual preferences, spending habits and travel priorities.

CIBC Aventura® Visa* card vs. CIBC Dividend® Visa Card

If you are looking for versatile spending rewards like cash back, you can check out the CIBC Dividend Visa Card . This card is a no-fee cash back credit card that rewards you with 2% cash back on eligible grocery purchases and 1% cash back on eligible gas, EV charging, transportation, dining, and recurring payments. Additionally, you earn 0.5% cash back on all other eligible purchases. You can also take advantage of the great 5% cash back welcome offer to quickly rack up rewards.

When it comes to comprehensive insurance benefits, this card falls short when compared to the CIBC Aventura Visa card as it only offers you extended protection insurance, purchase security and common carrier accident insurance.

CIBC Aventura® Visa* card vs. American Express® Green Card

The Amex Green Card is an excellent no annual fee rewards card with a highly flexible rewards redemption program. This card allows you to earn 1x point for each $1 spent on eligible everyday purchases and an additional point for hotel and car rental bookings through the Amex travel portal. You can use your Membership Rewards points to get instant statement credit, gift cards, or convert your points to great travel loyalty programs like Flying Blue and Aeroplan, enabling you to secure fantastic travel deals. The American Express Green card also has no income requirements, making it easy to qualify for if you have low income. On the other hand, the CIBC Aventura® Visa* card offers superior travel insurance benefits, making it an excellent choice for frequent travelers. This card also boasts a higher acceptance rate at stores compared to an Amex card.

CIBC Aventura® Visa* card eligibility requirements

In order to apply for this credit card, you need to meet the following eligibility requirements:

• Be a Canadian resident
• Have reached the age of majority in your province
• Have a fair credit score (>640)
• Have a minimum household annual income of $15,000

Is it worth it?

The CIBC Aventura ®  Visa* Card is a decent travel card, especially considering that it is free. You can earn points on all purchases, the welcome bonus is easy to obtain, and there are a couple of handy perks and benefits. We also appreciate that this credit card allows travellers to use their rewards towards paying for taxes and fees as well, not just the actual flight itself.

The point earn rates are a little low in comparison to a couple of other  travel credit cards on the market  and the fact that the amount of points required to redeem for flights through the Aventura Flight Rewards Chart is not a fixed amount can make things a bit confusing when trying to figure out how to get the most for your points.

Although the welcome offer might not be as high as other cards on the market, there is no spending minimum making it extremely accessible for cardholders. This card’s flexible points redemption means you can decide how you want the CIBC Aventura ®  Visa* Card to work for you. Whether you’re a frequent flyer or an avid online shopper, this card is a great companion for your wallet.

This offer is not available for residents of Quebec.

† Terms and Conditions apply

The information for the CIBC Aventura® Visa* Card has been collected independently by Money.ca . The card details on this page have not been reviewed or provided by the card issuer.

Résidents du Québec : Pour en savoir plus sur ce produit CIBC, suivez ce  lien

Hannah Logan is a Canadian freelancer writer and blogger who specializes in personal finance and travel. You can follow her adventures on her travel blog EatSleepBreatheTravel.com or find her on Instagram @hannahlogan21.

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• $139 annual fee – First year free
• 15,000 Aventura points when you make your first purchase
• 20,000 Aventura points when you spend $3,000 in the first 4 months
• 25,000 Aventura points when you spend $6,000 in the first 4 months
• Earn 2 points per $1 spent on CIBC travel
• Earn 1.5 points per $1 spent on gas, grocery, and drug store purchases
• Earn 1 points per $1 spent on all other purchases
• Visa Airport Companion Program membership and 4 free annual passes

Welcome Bonus and Earn Rate

The CIBC Aventura Visa Infinite Card typically has a welcome bonus of 35,000 – 50,000 Aventura points. This offer is usually broken down into two parts. You get the first bonus when you make your first purchase, and the second bonus is given when you spend $3,000 in the first four months. Right now, you get another 25,000 Aventura points when you spend $6,000 in the first four months . This is the best offer the card has ever had.

It’s worth noting that CIBC gives you four months to meet the minimum spending requirement to get your full welcome offer. This is relevant since most other credit card providers only give you three months. The card does have an annual fee of $139, but it’s usually waived for the first year.

The earning rate is a respectable 2 Aventura points per dollar spent on CIBC travel bookings, 1.5 points on gas, grocery, and drug store purchases, and 1 point on all other purchases. This isn’t the highest earning rate available out there, but it’s similar to other comparable travel rewards credit cards .

Benefits and Perks

The CIBC Aventura Visa Infinite Card is an excellent travel credit card because it provides a fair amount of benefits for people who are on the move. It’s a bit shocking more people don’t consider this card, especially since the annual fee for the first year is usually waived.

Airport Lounge Access

Cardholders get a free Visa Airport Companion Program membership, plus four free annual passes. This gives you access to 1,200+ global airport lounges in more than 100 countries. To give you some context, the value of these passes is about $190, so this perk alone is worth more than the annual fee.

NEXUS Application Rebate

Another travel benefit of the CIBC Aventura Visa Infinite is the NEXUS application rebate of $50. It’s good every four years, but NEXUS memberships last five years, so you’re essentially getting your NEXUS for free. Keep in mind that you must charge your NEXUS application to your CIBC Aventura Visa Infinite card to be entitled to the rebate.

Travel Insurance

• Travel medical – $5,000,000 for 15 days / 3 days if you’re 65 or older
• Trip cancellation – up to $1,500 per person / $5,000 total
• Trip interruption – up to $2,000 per person
• Flight/trip delay – up to $500 / 4 hours
• Delayed and lost baggage – up to $500 / 6 hours
• Auto rental collision/loss damage – 48 consecutive days / $65,000
• Hotel/motel burglary – $2,500
• Common carrier travel accident – $500,000

Your out-of-province emergency travel medical insurance covers you for up to 15 days if you’re under the age of 65 or for three days if you’re 65 or older. Although 15 days may seem short, you can purchase extended coverage.

Mobile Device Insurance

The CIBC Aventura Visa Infinite Card is one of the few travel cards that also come with mobile device insurance . Your eligible devices (cell phones and tablets) are covered up to $1,000 from theft, loss, and accidental damage. To be eligible, you must charge the full cost of your device to your card. If your phone is being subsidized, then you must charge the full amount of your bill to your card.

Purchase Insurance

• Purchase security – 90 days
• Extended protection insurance – Up to one additional year

Cardholders that charge the full cost of their purchases to their CIBC Aventura Visa Infinite Card are covered for loss, theft, and damage for 90 days, thanks to the included purchase security. In addition, the manufacturer’s warranty is doubled, up to one additional year.

Visa Infinite Benefits

• Concierge service –  Have someone plan your trip, make reservations, deliver presents and more.
• Luxury Hotel Collection –  When booking hotels through the Visa Infinite Hotel Collection, cardholders can access the best available rates, free Wi-Fi and room upgrades (when available).
• Dining and Wine Country programs –  Enjoy food and wine discounts and invites to private events.

How to Redeem Your Points

CIBC Rewards points are pretty easy to earn and understand. You can redeem 1,000 Aventura Points for $10 in travel, so your CIBC Aventura Visa Infinite card earns you 1% – 2% in rewards.

What’s nice about Aventura Points is that you have a few options. You can book online through your CIBC rewards account or via the Aventura Travel Assistant. What many people don’t realize is that the Aventura Travel Assistant is a full-service travel agency, and they can book a few things that you might not find through the online portal, such as attraction tickets and rooms at certain hotels. Basically, just about anything you find on Expedia can be booked through the Aventura Travel Assistant .

Since all travel being booked is done in real-time, there are no blackout dates to worry about. Plus, you can pay any taxes and/or surcharges from your flights if you book via your CIBC rewards account.

There’s also a fixed points option to redeem your points for flights based on five different zones. For example, Canada and the U.S. (long haul) require 25,000 – 35,000 points and have a maximum ticket price of $800. If that flight costs you more than $800, you’ll need to pay the remaining balance in points at $1 = 100 Aventura points ratio. On occasion, CIBC runs promotions where fewer points are required to redeem a flight, so the fixed points option can be quite lucrative.

CIBC Aventura Visa Infinite Card Eligibility

• Canadian citizen or permanent resident
• At least the age of majority in your province or territory
• You have a minimum annual personal gross income of $60,000 or a household income of $100,000

Although no formal credit score is required, I recommend one of at least 700 before applying. That puts your credit score in good standing, which is ideal for a mid-tier credit card.

How the CIBC Aventura Visa Infinite Compares

Since the CIBC Aventura Visa Infinite Card is a mid-tier travel credit card, it has a lot of competition. That said, the card is very strong so to determine what’s best for you, you need to see what else is out there.

CIBC Aventura Visa Infinite Card vs. BMO World Elite Mastercard

I personally think the closest competition the CIBC Aventura Visa Infinite Card has is the BMO World Elite Mastercard . The BMO card also typically has no annual fee for the first year, 4 free annual airport lounge passes, and slightly better travel insurance.

Some people will also point out that the BMO World Elite Mastercard has a better earning rate, but it takes 150 BMO Rewards points to earn $1 in travel. That means overall, you’re probably coming out ahead with the CIBC Aventura Visa Infinite Card.

CIBC Aventura Visa Infinite Card vs. Scotiabank Passport Visa Infinite Card

Another card worth considering is the Scotiabank Passport Visa Infinite card since it comes with six free annual lounge passes. I consider Scotia Rewards to be slightly more valuable than CIBC Rewards, but the Scotiabank Passport Visa Infinite does not waive the annual fee of $139 for the first year. The card does come with no foreign transaction fees , which will appeal to many travellers.

CIBC Aventura Visa Infinite Card vs. American Express Gold Rewards Card

There’s also the American Express Gold Rewards Card . this card gives you four free annual Plaza Premium lounge passes, similar to the lounge passes you get with the CIBC Aventura Visa Infinite Card. This card is also appealing because of the higher earning rate of 2 American Express Membership Rewards points per dollar spent on grocery, gas, pharmacy, and travel purchases. You can also transfer your points to Aeroplan at a 1:1 value, which could increase the value of your points.

Final Thoughts

My CIBC Aventura Visa Infinite Card review is positive. The card is ideal for the people in the following situations:

• You want flexible rewards: Use your points on travel booked through CIBC travel or the fixed points travel option.
• You want travel benefits: Get airport lounge access, a NEXUS rebate, and travel insurance.
• You don’t want to pay a high annual fee: The yearly fee is waived for the first year, so you can test out the card.

Although the card doesn’t make my list of the best travel credit cards in Canada , it’s still a great travel credit card. You get great travel benefits, flexible rewards, and a decent earning rate. Admittedly, there are other cards out there that may offer higher earn rates, or better perks, but not many are as well-rounded as the CIBC Aventura Visa Infinite Card.

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

35 Comments

Hey Barry, hope you’re doing well!

– $100 travel credit when you book travel with an Aventura Travel Assistant until … October 31, 2019 .vs November 1, 2018 – 1.5 (vs 5 … wish it was 5 lol) points per $1 spent at gas stations, grocery stores and drugstores

Thanks for the awesome summary + review!

Thanks for catching the typo with the multiplier. As for the travel credit, read between the lines. . .

Did you get a chance to compare the fixed points travel booked via Amex MR vs Aventura Travel?

It depends. Amex and CIBC are similar as both offer flights on just about every major airline without blackout dates but it’s the number of points required that could make a difference. Amex’s fixed pricing starts at 15K points on short popular routes whereas CIBC is a little more variable.

There’s no clear winner since it depends on the timing and situation. CIBC often runs promotions and deals so that’s worth a look but Amex points are easier to accumulate since there are more cards you can earn points with.

Technically speaking, CIBC will probably cost you fewer points within North America, but you should always compare.

Thanks! They sure don’t make it easy for consumers to compare.

For the Priority Pass membership and four complimentary lounge entries per year. If I will be traveling in one month time, do I have enough time to get this benefit? Thanks

I think so. I would call CIBC right after you apply to see if they can rush you the card. Once you have that, just register for Priority Pass ASAP and download the app so you don’t have to wait for the physical card.

If I am the cardholer and my wife is not. Can my wife also use the lounge if she is travelling with me? Thanks

Yes as she would be your guest and you would be using one of your passes.

WARNING: Aventura Travel INSURANCE: I thought I would share my bad experience encountered with the travel insurance included with the Aventura card. They use a company called Global Excel to handle the insurance. My wife and I had a trip booked with Aventura that had to be cancelled a week before because of an accident. We filled out the appropriate paperwork with Global Excel, including the doctors sign off etc. A month later I received a letter in the mail indicating my claim was DECLINED. After many emails back and forth, it turns out since the Airlines (Air Canada / WestJet in Canada) offer a one year flight credit for the ticket, they won’t pay the insurance until that credit is gone – Thus you need to wait a year before you can receive the payment. So if you want to try an book a new trip that uses a different airline, then you are OUT OF LUCK. I tried to work with the travel agent and WestJet to cancel the credit, but Global Excel want to see very specific evidence of cancellation before they would pay out. WestJet was not able to cancel the credit for reasons I don’t understand. BUYER BEWARE – Nova Scotia..

Can I buy my parents the tickets from our personal travel agent and get the points

Can my parents use the complimentary lounge entries if I purchase them the tickets on my cc

Not unless they have a Priority Pass Membership.

In regards to booking travel and being insured under the card for baggage and delayed flights. Can this travel be booked directly through a travel agent or the airlines website (independent of Aventura travel agent)?

As long as you pay for your travel with the CIBC Aventura card, the travel insurance would apply.

WARNING: I am moving away from my CIBC Aventura Visa Infinite card and from travel cards in general because I’m finding it increasingly difficult to get good value when I try to redeem the Aventura points I earn.

Certainly, those penguin ads are correct – you can redeem your points for flights on any airline at any time with no blackout periods. The catch comes when you calculate what your points would earn you by subtracting the taxes/fees the CIBC Rewards system wants to charge from the full price of the ticket(s) you would pay if you booked the tickets on any third party website, then dividing that difference by the number of points you have to redeem. In some cases, your points are earning you less than 0.5%.

Round trips to Europe are now particularly bad value based on my searches to date. Specific example: Calgary to London non-stop on Air Canada – 50,000 points + $670 in “Taxes and Fees” gets you a ticket that would cost you $862 on aircanada.com. Do the math: (862-670)/50000 = 0.00384 or 0.384%. It’s even more annoying when you notice that the taxes quoted on aircanada.com are only $270. Why the $400 difference?…..look at the price breakdown on aircanada.com and you’ll see the Air Transportation Charges are made up of a Base Fare of $192 and a “Carrier Surcharge” of $400.

Certainly, there are better values elsewhere, particularly select flights within North America, to Latin America and Asia where I can still find redemption values of up to 1.5% or higher. However, you need to check each case to see if you’re getting good value. More and more airlines are inserting these “surcharges” or “fees” into their base ticket price to deflate the value of the points in their own reward systems. Air Canada and many European carriers have been doing this for a long time. But now I’m finding US carriers like United and Delta, who weren’t doing it up to a year or so ago, are climbing on this bandwagon. My fear is that it is only a matter of time until all carriers adopt this trick.

CIBC offers other avenues for redeeming your points such as merchandise, payment with points and financial products with points. These options get you anywhere from 0.6 to 0.8% in value. Another option – buying all-in vacation packages – seems to be the best choice as you essentially redeem 100 points for every $1 (1%) you would pay if you bought the package from Sunwing, Westjet, etc. That’s great if you’re a vacation package family – we’re not.

Where am I taking my business? The Scotiabank Passport Visa Infinite which doesn’t charge foreign exchange fees (worth ~$1000 per year to me), awards 1-2 points per $ in purchases, gives decent spending bonuses and allows you to cash your points for a predictable 1 point = $0.01 (1%). Overall, I estimate my purchases will earn me $0.024 per dollar I spend or a 2.4% value versus the 0.5 to 1.5% I’d get (depending on the travelling/redeeming I’m doing) if I stayed with CIBC Aventura.

I also have a PC Financial World Elite Mastercard which we use for the vast majority of our grocery and gasoline purchases in Canada. With all of the weekly grocery bonuses and the 7 cents/litre in gas bonuses, I estimate I’m earning over 3% on this card because I focus its use in these areas. The Scotiabank Visa will replace the CIBC Visa for all of my other spending.

In summary, do the math to calculate the real value you’re getting from your card. You might be surprised.

These are ALL very good points and 100% valid. It’s basically whey I hate Air Miles. Aeroplan/Air Canada can offer good value but usually on specific routes or when you books business class flights. A lot of people have switched to cash back cards these days since it’s an easier system to understand.

The Scotiabank card as you stated is predictable and gives you good additional travel benefits. The PC Financial World Elite Mastercard is one of my favourites as I also do a lot shopping at their stores. I just signed up for PC Insiders as I did the math and realized that I would get good value for the $99 annual fee.

Agreed. My only apprehension in making the switch to the Scotiabank Passport is that there is some hidden restriction in Scotia’s points system that renders it less valuable than the “glossy brochure” language on their website would suggest. I would love to hear from someone who’s had actual hands-on experience redeeming Scotia points. Not being able to peek inside the underlying points system before you sign up and commit yourself is the single biggest unknown in calculating the value of a given reward card. I’d much rather go with a straight cash back card if I could find one that gives a decent % on purchases and doesn’t charge foreign exchange fees.

With Scotiabank, I believe you can use your points at a 1% ratio. You can do this through their portal or on your own and then claiming the points towards your travel purchases after.

I’d love to use my hard earned Aventura points but I’ve tried for several days now at over an hour on hold each time to reach the rewards centre and a travel assistant to book a couple of hotels. Points are not worth much to me if I can’t talk to someone about redeeming them. I’ll keep trying I guess. Apparently, though, my call is very important and they’ll be with me shortly. Not impressed!

For the ” 7 cents/litre in gas bonuses” with PC Financial World Elite Mastercard. Is that available for people living in Toronto? If yes, how do I go about in getting that? Thanks so much

Hi Tom. I live in Calgary. Across Western Canada, Loblaws had a number of service stations co-located with their grocery stores. They have since sold the stations to Mobil but the 7 cents per litre is still offered to those who use their PC Financial card to make the purchase. You don’t get a direct reduction at the pump but instead earn 70 Optimum Points for every full litre you buy. You can then redeem those points for purchases in their grocery stores. Because I don’t live in Toronto and am not familiar with what is offered in that part of the country, I don’t know if the same offer is available to you.

Are Aventura points still able to be transferred to Aeroplan points?

No, that partnership ended.

Your commercial on tv with penguins needs to be reworked. Penguins dont travel , have credit cards or talk on phone. Use real people and tell it like it is not a load of crap. Maybe to somepeople this ad is funny but to my wife and me it is a stupid ad and whoever thought it up should give their heads a good shake. More people should email you guys and give you feedback. Ask people what they think of ads and it might help your business.

From the CIBC website:

The $750 value is based on the following, as at July 1, 2019: i. $120 travel credit as disclosed in the offer Terms and Conditions as provided below; ii. $400 value is based on the maximum redemption value for 20,000 Aventura Points on a short haul airfare purchase, based on the Aventura Airline Rewards Chart at http://www.cibcrewards.com , before taxes and other charges;

What concerns me is the “on a short haul airfare purchase” so that means you can only use these points for flights that are 180 mins or less? That seems to significantly lower the value of these points…

CIBC is just trying to justify how you get $750 in value. the $400 maximum value refers to their fixed travel program. You can use your points on any flight. You can check out their redemption chart here.

https://rewards.cibcrewards.com/travel/

This is a helpful review, Barry. Thanks. We find good value with Scotia Momentum Visa, a cash back card. We appreciate the 4% rebate on groceries and recurring bill payments, i.e.; Netflix, Telus, Spotify…

The Scotia Momentum Visa is an excellent card.

Barry, excellent read

How can I transfer points from my USD Visa to my CAD Visa accounts?

I really have no idea, you’d have to contact CIBC to find out.

I have waited up to 21/2 hours for a reply when trying to book a flight oh, that music! I finally gave up and drove to the airport and booked directly, using my card. Absolutely dreadful service. Thinking of dumping the card, why should you gave to go through the hassle to do something so simple?

I just received my CIBC Aventura Infinite Card. I am thinking of applying for Nexus card for myself and my spouse. Will the Nexus Fee be waived for both of us or just the card holder? Thanks

It applies to a one-time use. You could use it for you or your wife, not both.

“Receive one (1) statement credit up to a maximum value of $100 CAD when NEXUS application fee is charged to an eligible card, regardless of NEXUS application approval.”

Just a heads up that Aventura (and others) have teamed up with Dragon pass to give cardholders with Plaza Premium lounge access. More info here!

https://ppg.dragonpass.ca/Landing

All the best! FT

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CIBC Trip Cancellation & Trip Interruption Enhanced Plan

CIBC Trip Cancellation & Trip Interruption Enhanced Plan is underwritten by Co-operators Life Insurance Company and The Sovereign General Insurance Company.

• Trip Cancellation & Trip Interruption Insurance Your eligible non-refundable, pre-paid travel costs will be covered if you’re forced to cancel or interrupt your trip due to a covered reason, up to the coverage amount purchased (available up to $50,000 prior to your trip).
• Baggage and Personal Effects Insurance Covers the cost of replacing your baggage and personal items if your baggage and personal items are delayed, damaged or lost while travelling.

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Get a quote by calling

To get a quote and apply now, call a licensed insurance agent at 1-800-281-9109 Opens your phone app. .

If you’re aged 60 or over, you’ll be asked some questions about your medical history to determine your eligibility for coverage and the applicable premium rate and pre-existing condition limitations and exclusions. 1

Right to Examine

Review your Policy when you receive it to ensure it meets your needs. You have 10 days after purchase to return your Policy for a full refund, provided you have not departed on your trip and a claim has not been incurred.

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Distributing firm

CIBC Travel Insurance is administered by Allianz Global Assistance, which is a registered business name of AZGA Service Canada Inc. Allianz Global Assistance provides the CIBC travel assistance and claims services in respect of all insurance coverage under CIBC Travel Insurance plans.

AZGA Insurance Agency Canada Ltd. operating as Allianz Global Assistance

700 Jamieson Parkway Cambridge, Ontario N3C 4N6 519-742-2800 Opens your phone app.

The insurers

CIBC Travel Insurance plans are underwritten by Co-operators Life Insurance Company, which covers accident and sickness benefits, and The Sovereign General Insurance Company, which covers property and casualty benefits.

Co-operators Life Insurance Company

1920 College Avenue Regina, Saskatchewan S4P 1C4 1-800-454-8061 Opens your phone app.

The Sovereign General Insurance Company

140 – 6700 Macleod Trail South East Calgary, Alberta T2H 0L3 1-800-510-0354 Opens your phone app.

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CIBC Aventura® Visa Infinite* Card

Updated on: July 4, 2024

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15,000 Aventura Points when you make your first purchase† 30,000 Aventura Points when you spend $3,000 or more in the first four monthly statement periods† Total of up to 45,000 Aventura Points†

Annual interest rates:

20.99% purchase 22.99% cash advance (21.99% for Quebec residents) 22.99% balance transfer (21.99% for Quebec residents)

Earning rate:

2 Aventura Points per dollar spent on eligible travel purchases via the CIBC Rewards Centre† 1.5 Aventura Points per dollar spent on eligible gas, grocery stores, EV charging, and drugstores† 1 Aventura Point per dollar spent on all other eligible purchases†

Perks & benefits:

Four lounge visits through Visa Airport Companion Program† NEXUS Application Fee rebate† EV charging multiplier†

The CIBC Aventura ® Visa Infinite * Card is one of the best options for earning Aventura Points , as it often comes with a high welcome bonus that's paired with a lower minimum spending requirement and an annual fee rebate for the first year.

Bonuses and Fees

The CIBC Aventura ® Visa Infinite * Card is currently offering an elevated bonus of up to 45,000 Aventura Points, †  structured as follows:

• 15,000 Aventura Points when you make your first purchase†
• 30,000 Aventura Points when you spend $3,000 (CAD) or more in the first 4 monthly statement periods†

The $139 annual fee is currently rebated in the first year † ; otherwise, if that offer weren’t available, it can be rebated if you have a CIBC Smart Plus Chequing Account . 2

Earning Rewards

• Earn 2 Aventura Points per dollar spent on eligible travel booked through the CIBC Rewards Centre †
• Earn 1.5 Aventura Points per dollar spent on eligible gas, groceries, electric vehicle charging, and drugstore purchases †
• Earn 1 Aventura Point per dollar spent on all other eligible purchases †

Redeeming Rewards

CIBC Aventura Points can be redeemed in a variety of ways. However, the most valuable way to redeem Aventura Points is on travel purchases. For example, you can redeem Aventura Points for eligible flights booked through the CIBC Rewards Centre at a rate of 1 cent per point. However, you can also redeem CIBC Aventura Points for eligible travel booked in any way at an elevated rate of 1.25 cents per point (cpp) , which is twice the usual redemption value for flexible travel bookings. This is the best flexible travel redemption rate for fixed-value points in Canada. Keep in mind that you must make the redemption while the transaction is still pending, and that CIBC may change or withdraw this promotional offer at any time. You can also use CIBC Aventura Points towards an $800 (CAD) airline ticket in the “Canada and U.S. (Long-Haul)” category on the Aventura Flight Rewards Chart , which could increase the value of your points from 1 cent per point (cpp) to 2.28 cents per point. Generally speaking, it's recommended to redeem Aventura Points via the Aventura Flight Rewards Chart whenever possible, since it offers the maximum value for your points. It's worth noting that this must be done through the CIBC Rewards Centre. However, Aventura Points can also be useful for offsetting the cost of travel that's otherwise difficult to book with points. For example, Aventura Points can be used to cover the cost of eligible independent hotels, short-term rentals, car rentals, trains, or flights that can't be booked with other airline- or hotel-specific loyalty programs.

Perks & Benefits

As the primary cardholder, you’ll enjoy four complimentary lounge visits per membership year for you and any guests, which can be used at 1,200+ lounges globally through the Visa Airport Companion Program . † Four lounge visits per year can be useful if you don't tend to travel very often and don't otherwise have lounge access with another credit card. Another unique feature is the NEXUS application fee rebate, which provides one rebate every four years towards the up to $100 (CAD) of the cost of your NEXUS application. † NEXUS is a frequent traveller program designed to speed up your travels between Canada and the United States, and you’ll receive a full rebate simply by charging the application fee to your CIBC Aventura ® Visa Infinite * Card. It's worth noting that the NEXUS application fee is $50 (USD). Since the NEXUS application fee rebate covers up to $100 (CAD), you won’t be on the hook for any extra fees, and you’ll be able to cover two NEXUS applications to boot. Cardholders of the CIBC Aventura® Visa Infinite* Card can save up to 10¢ per litre at participating Pioneer, Fas Gas, Ultramar, and Chevron gas stations.† To benefit from this discount, you'll need to link your card with Journie Rewards, and then make qualifying purchases at eligible gas stations.†

Insurance Coverage

The CIBC Aventura ® Visa Infinite * Card is a flagship travel credit card from CIBC, and therefore comes with all the key insurance policies that a frequent traveller would expect.

This includes out-of-province emergency medical insurance of up to $5,000,000, plus coverage for flight and baggage delays, trip cancellation and interruption, hotel burglary, and car rental loss or damage.†

There’s also Mobile Device Insurance† available to cardholders. By paying for your smartphone, tablet, or smartwatch using your CIBC Aventura ® Visa Infinite * Card, you’ll get coverage of up to $1,000 in the event your mobile device is lost, stolen, or accidentally damaged, for up to 24 months!

That can be beneficial for many people, and so the next time you’re in the market for a new mobile device, it’s worth considering using the CIBC Aventura ® Visa Infinite * Card to fund your purchase.

Terms and Conditions apply.† This is a digital-exclusive offer.† To be eligible for this offer: 1) this offer must have been directly communicated to you from CIBC or from a partner/affiliate; and 2) you must apply for the eligible card through the link provided in the CIBC or partner/affiliate communication to you.† This offer is reserved for you. Please do not forward it to anyone else. CIBC may approve your application, but you are not eligible to receive this Offer if you have opened, transferred or cancelled another Aventura card within the last 12 months.†    

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7 Best Cheap Travel Insurance Companies in July 2024

Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

Finding the cheapest travel insurance is often a priority for travelers hoping to protect themselves and their finances while away from home.

But is it better to err on the side of affordable travel insurance or opt for a more comprehensive plan? That depends on your needs .

On average, a comprehensive plan that covers some combination of trip cancellation and interruption costs, medical coverage and baggage protection (and perhaps a number of other things) will cost you 5%-10% of what you paid for the trip, according to NerdWallet partner Squaremouth, a travel insurance marketplace.

That means a comprehensive policy for a trip that costs you $3,000 could run you anywhere between $150 and $300. Factors like the cost and length of your trip, the age of the travelers and how much protection you want can significantly influence what you pay for your plan.

Ultimately, Squaremouth recommends “the least expensive policy that offers the coverage [travelers] need.”

» Learn more: The best travel insurance companies right now

Factors we considered when picking cheap travel insurance plans

We considered a few factors as we looked for the most affordable travel insurance plans.

Price: If your goal is to find cheaper travel insurance, you want the price to be affordable.

Breadth of coverage: The best budget travel insurance is typically going to be a plan that offers a wide range of protections at an affordable cost, ensuring you’re protected with at least some coverage for a wide range of scenarios.

Uniqueness or customizability : While many travel insurance plans have similar protections, some stand out for particular coverage that can be helpful to certain travelers, like those needing to Cancel For Any Reason , those going on a cruise, or travelers with preexisting health conditions. We didn’t spring for the priciest plans with broad, deep coverage; instead, we picked those that meet a sort of budget "sweet spot" when it comes to cost efficiency.

» Learn more: Is travel insurance worth getting?

An overview of the best cheap travel insurance plans

We looked at travel insurance quotes for a hypothetical 10-day trip to Italy in October 2023. The traveler is a 40-year-old man living in North Carolina who spent $2,000 on the trip, including airfare.

Reliable but cheap travel insurance providers

1. axa assistance usa (silver plan: $70).

Why we picked it:

The $500 missed connection benefit is great for cruise and tour participants. It covers additional transportation, accommodations and meal costs when you miss a cruise or tour departure.

Full trip cancellation and interruption coverage, along with up to $25,000 for out-of-pocket medical costs and baggage coverage.

Among the lowest prices we found.

If you’re willing to spend a bit more than AXA's $70 Silver plan, a Gold plan only costs $19 more and gets you deeper coverage amounts and up to $35,000 in collision rental car insurance.

2. Berkshire Hathaway Travel Protection (ExactCare Value plan: $56)

Cheapest plan we found while still offering a wide array of protections.

Includes a preexisting medical condition waiver.

Add-on rental car collision coverage optional for $10 per day. You can pick how many days you want the additional coverage — it’s not all or nothing.

At $56, this plan comes in at less than 3% of the $2,000 trip cost.

3. IMG (iTravelInsured Lite plan: $77)

Treats COVID-19 like any other illness, which is to say, if your claim accepts flu, strep throat or appendicitis as an acceptable, covered condition, the coronavirus is, too.

Covers costs related to trip interruption up to 125% 

Higher than normal limits on dental expenses, at $1,000. If your teeth are your Achilles heel (or your biggest fear), this plan might be for you.

The iTravelInsured Lite plan doesn’t offer some of the bells and whistles that other plans do, like rental car coverage , Cancel For Any Reason coverage or waivers for pre-existing conditions. But you’ll have relatively solid across-the-board trip protections.

4. John Hancock (Silver plan: $93 for a mid-tier plan)

Mid-level plan (as opposed to a basic plan) at an affordable price for travelers who want more coverage without paying too much.

Includes an optional Cancel For Any Reason add-on for travelers wanting flexibility. It is a bit pricey, at half the cost of the insurance ($46.50 extra for a $93 plan).

Reimburses up to $1,000 for lost baggage , far more than many basic plans.

Add-on rental car coverage for $9 per day.

At $88, John Hancock’s basic (Bronze) plan isn’t particularly affordable. But for just $4 extra, you can tap into the benefits of a mid-tier plan at still less than 5% of the total trip cost.

5. Nationwide (Essential plan: $76)

Includes a preexisting conditions waiver.

Add-on rental car coverage for $90. 

Covers trip interruption at 125% of the trip cost while providing comprehensive emergency medical and baggage coverage.

6. Seven Corners (Basic plan: $75)

On top of standard trip protections, it includes a relatively affordable Cancel For Any Reason option for $31.50 extra.

If you plan to rent expensive sporting equipment, you might consider paying $10 extra to cover lost, damaged, stolen or destroyed gear.

COVID-19 coverage reimburses you for costs incurred if you have to quarantine .

Rental car coverage comes in at an affordable $7 per day.

Seven Corners’ Basic plan stands out because it offers a little bit of everything, appealing to athletic travelers, those who need affordable trip protections, those who want the flexibility to cancel for any reason and those still concerned about getting quarantined due to COVID-19.

7. Travelex Insurance Services (Basic plan: $71)

Straightforward: What you see is what you get. This plan’s coverage has fewer rules and caveats than many. 

While not sporting the highest coverage amounts, it offers a solid range of protections to ensure you get at least something back when your travel is disrupted or you have a medical emergency.

Offers add-on rental car coverage for $10 per day.

At $71, the Travelex Basic plan’s cost is just over 3% of the $2,000 trip’s cost.

If you want to get travel insurance at the cheapest possible rate, here’s a trick. Put $0 as your trip cost, Stan Stanberg, co-founder of comparison site Travelinsurance.com said in an email.

“When excluding trip cancellation and trip interruption coverage the cost of a travel insurance plan goes down significantly,” Stanberg said.

That means you won’t get reimbursed if you need to cancel your trip or if it gets interrupted. But you may still have access to the plan’s medical, trip delay , missed connection, baggage and other protections.

You’ll often find comprehensive travel insurance plans cost 5%-10% of your total trip cost, according to Squaremouth. This will often get you full trip cancellation and trip protection, baggage protection, emergency medical coverage and often other benefits.

Typically, the more you pay, the broader and deeper the coverage.

For many plans, you can purchase travel insurance up until you depart. However, to get access to the most protections possible, booking two days to two weeks after making your initial deposit is the best rule of thumb.

That means you won’t get reimbursed if you need to cancel your trip or if it gets interrupted. But you may still have access to the plan’s medical,

, missed connection, baggage and other protections.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are some of the best travel credit cards of 2024 :

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Wells Fargo Autograph℠ Card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

on Chase's website

1x-10x Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

1x-5x 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases.

60,000 Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

1x-2x Earn 2X points on Southwest® purchases. Earn 2X points on local transit and commuting, including rideshare. Earn 2X points on internet, cable, and phone services, and select streaming. Earn 1X points on all other purchases.

50,000 Earn 50,000 bonus points after spending $1,000 on purchases in the first 3 months from account opening.

Get Travel Insurance Quotes

Best travel insurance companies of august 2024.

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate travel insurance products to write unbiased product reviews.

Traveling is an adventure, a leap into the unknown, a story waiting to unfold. But every story needs a safety net, and that's where travel insurance comes in. In this guide to the best travel insurance, we'll embark on a journey to help you better understand travel insurance and uncover the benefits that make it an indispensable companion for any traveler.

Best Travel Insurance Companies of 2024

• Best Overall: Nationwide Travel Insurance
• Runner-Up: AXA Assistance USA
• Best for Cruises: Travel Guard
• Best Reputation:  C&F Travel Insured
• Best for Pre-existing Conditions:   Tin Leg Travel Insurance
• Best for Digital Nomads:   WorldTrips Travel Insurance
• Best Low-Cost Option:   Trawick International Travel Insurance
• Best for Road Trips: Travelex Travel Insurance
• Best for Adventure Sports :  World Nomads Travel Insurance

Best Travel Insurance Companies

The best travel insurance companies offer comprehensive coverage options for a wide range of people and needs. For this guide, we looked at coverage options, customizability, and the best companies for specific situations, such as pre-existing conditions.

Here are Business Insider's picks for the best travel insurance companies in 2024. 

Best Overall Travel Insurance

Nationwide travel insurance.

Nationwide is of the largest players in the travel insurance space, offering nearly endless options for any customer on the travel spectrum, including annual travel insurance plans which can offer frequent travelers the flexibility to "set it and forget it" on their travel insurance coverage.

Nationwide Essential also offers some of the most affordable policies in the market compared to similar plans from competitors, which makes it a great pick for just about anyone. Buyers can discuss bundling options as Nationwide also sells homeowners, auto, pet, and other insurance products. Its travel insurance quoting is just as easy as it has been with other Nationwide insurance products.

Read our Nationwide travel insurance review .

Best Travel Insurance Runner-Up

Axa assistance usa.

AXA offers consumers a great option for no-stress travel insurance: low-priced plans, generous coverage limits on key categories including primary insurance on lost luggage, and up to 150% reimbursement for qualifying trip cancellations.

While add-ons are limited and rental car coverage is not included by default on cheaper plans, AXA is a perfect fit for travelers who don't plan to drive (or who already hold a travel credit card with rental car coverage), and don't need any additional bells and whistles.

Read our AXA Assistance USA travel insurance review .

Best Travel Insurance for Cruises

Travel guard.

AIG is well-known insurance provider, and a great fit for travelers who want to ensure that they can get their money back in the event of canceled or interrupted travel plans.

While the company's policies can be pricey compared to its competitors, the high medical and evacuation limits make AIG a solid choice for older travelers who value peace of mind and simplicity over highly customizable plans that may be bolstered with medical upgrades.

Read our AIG Travel Guard travel insurance review .

Best Travel Insurance for Reputation

C&f travel insured.

While every travel insurance company has negative reviews about its claims process, C&F Travel Insured 's claims process has a consistent stream of positive reviews. One customer wrote that C&F processed a claim within 48 hours. Additionally, C&F regularly responds to customer reviews within one business week, making reviews a consistent way to reach the company.

Additionally, in C&F's fine print, it mentions that any claims that take more than 30 days to pay out will begin to accrue interest at 9% APY.

C&F's reputation isn't the only thing to speak highly of. It offers an array of add-ons uncommon in the travel insurance industry, such as Interruption for Any Reason insurance and CFAR coverage for annual plans. C&F also offers discounts for children on its Protector Edge plan and free coverage on its Protector plan.  

Read our C&F Travel Insured review . 

Best Travel Insurance for Pre-Existing Conditions

Tin leg travel insurance.

Tin Leg is a great fit for travelers with medical issues in particular. Seven of Tin Leg's eight travel plans include coverage for pre-existing conditions as long as you purchase your policy within 15 days of your initial trip payment.

Thanks to coverage for pre-existing medical conditions as well as for potential COVID-19 infection while traveling, this company offers some of the best financial investment options for travelers who are or will be exposed to higher health risks and issues.

Read our Tin Leg travel insurance review .

Best Travel Insurance for Digital Nomads

Worldtrips travel insurance.

WorldTrips has affordable premiums, highly customizable add-ons, and generous coverage for core categories of travel insurance. All this makes it a great option for digital nomads, students studying abroad and backpackers.

However, travelers should keep in mind that plans are not particularly flexible, and coverage amounts are limited unless you plan ahead to pay for the areas and amounts that you need.

Read our WorldTrips travel insurance review .

Best Travel Insurance for Affordability

Trawick international travel insurance.

Trawick offers low premiums across its five plans, most of which offer coverage for pre-existing conditions. You'll find robust medical travel insurance that can help higher-risk and anxious travelers find peace of mind while on the road. This company also offers high medical evacuation coverage limits, up to $1,000,000.

Read our Trawick travel insurance review .

Best Travel Insurance for Road Trips

Travelex travel insurance.

Travelex offers three plans:

• Travel Basic
• Travel Select
• Travel America

The Travelex America plan is meant for trips limited to the U.S., but it has the highest coverage limits in many areas compared to its other programs. If you're flying somewhere, the lost baggage limits are higher. Its natural strengths shine for road trippers, though. Travelex America adds coverage for roadside service and rental car coverage for unexpected accidents. It also covers pets should you be involved in an accident while on the road.

While your standard auto insurance does extend to car rentals within the U.S. for a limited time, any accident would affect future rates. Travelex would eliminate the risk of reporting to your auto insurance provider for minor incidents within its purview.

Read our Travelex Travel Insurance review .

Best for Adventure Traveling

World nomads travel insurance.

World Nomads distinguishes itself from others by covering over 300 sports and activities, from skydiving to golf. Additionally, its one of the few travel insurance companies that allow you to purchase after departing for your destination. However, you'll have a 72-hour waiting period before coverage kicks in.

That said, World Nomads doesn't have the highest coverage limits compared to its competitors on this list, travel medical insurance capping out at $100,000. It also isn't the most flexible provider, only providing two plans to choose from with no options for pre-existing condition coverage. Yet, World Nomads still stands out for its sports coverage and post-departure coverage.

Read our World Nomads travel insurance review .

Introduction to Travel Insurance

Why travel insurance is a must-have.

The unpredictable nature of traveling – from flight cancellations to medical emergencies – can turn your dream vacation into a nightmare. Travel insurance acts as a personal safeguard, ensuring that unexpected events don't drain your wallet or ruin your trip.

Understanding Different Types of Travel Insurance

Not all travel insurance policies are created equal. From single-trip travel insurance policies to annual travel insurance plans , from minimal coverage to comprehensive protection, understanding the spectrum of options is your first step in finding the right fit for your journey.

Key Features to Look for in Travel Insurance Coverage

Travel insurance for medical emergencies.

Imagine falling ill in a foreign country; daunting, right? A robust travel insurance plan ensures you don't have to worry about how much emergency medical care while traveling will cost, even in the most remote corners of the globe. This coverage will often come in tandem with emergency medical evacuation coverage.

Trip Cancellation and Interruption Benefits

Life is full of surprises, some less pleasant than others. Trip cancellation and interruption coverage ensures that you're not left out of pocket if unforeseen circumstances force you to cancel or cut your trip short. You may also look for cancel for any reason and interruption for any reason options, which will reimburse you for a percentage of your nonrefundable fees, but expands the covered reasons you can cancel a trip. You can find our guide on the best CFAR travel insurance companies here.

Coverage for Personal Belongings and Baggage Loss

Losing your belongings is more than an inconvenience; it's losing a piece of your world. Insurance that covers personal belongings and baggage loss ensures that you're compensated for your loss, helping you to rebound and continue your adventure.

Support and Assistance Services

In times of trouble, having a lifeline can make all the difference. Look for insurance that offers 24/7 support and assistance services, giving you peace of mind that help is just a phone call away. Also, check websites that field customer reviews like Trustpilot, the Better Business Bureau, and InsureMyTrip , to see how well a company responds to customer requests.

Choosing the Best Travel Insurance

Reputation and reliability of the travel insurance provider.

A provider's reputation is not just about being well-known; it's about reliability, customer satisfaction, and the ability to deliver on promises. Researching and choosing a reputable provider is a cornerstone in ensuring your safety and satisfaction.

Understanding the Policy's Fine Print

The devil is in the details, and understanding the fine print of what your travel insurance policy covers is crucial. Be aware of coverage limits, exclusions, and the process for filing a claim to avoid any unpleasant surprises.

Customer Reviews and Feedback

In the age of information, customer reviews and feedback are goldmines of insight. Learn from the experiences of others to gauge the reliability and customer service of the insurance provider you're considering. While the ratings are important, you should also look at whether or not a company responds to customer complaints.

How to Get the Most Out of Your Travel Insurance

Knowing your policy inside out.

Familiarize yourself with every aspect of your policy – what it covers, what it doesn't, how to file a claim, and who to contact in an emergency. Being informed means being prepared. 

Steps to Take When a Problem Arises

If you face an issue during your travels, knowing the immediate steps to take can make all the difference. Keep important contacts and your policy details handy, and remember, your insurance provider is there to assist you.

How to Pick the Best Travel Insurance Company for You

There isn't a one-size-fits-all policy that works perfectly for every traveler. Young, healthy solo travelers can opt for much cheaper plans that offer bare-bones coverage, while families juggling complex itineraries will do best by investing in a robust policy that can help defray any costs associated with lost baggage, delayed transportation or other trip-impeding obstacles.

That being said, you can't go wrong with a travel insurance provider that boasts a reputable history and offers a wide range of customizable plans. In some cases, you may be comparing plans that are only a few dollars' apart from each other. In such situations, you should generally opt for the insurance company that offers the strongest customer service. It's also worth considering whether or not the travel insurance provider has been reviewed by other travelers with similar itineraries to your own. 

An insurance aggregator like InsureMyTrip or Squaremouth is one of the best tools for searching travel insurance policies. Once you input the specifics of your travel itinerary, you'll be able to see hundreds of search results to compare the ones that catch your eye. If the options are too overwhelming, use the filters to the left of your search page to eliminate as many irrelevant plans as possible.

How We Reviewed the Best Travel Insurance Companies

To come up with our list of the best travel insurance companies, we evaluated each insurer based on the following factors:

Guide Methodology: What We Considered

Policy Types

Travel insurance is essential, but often underused partly because people aren't getting what they want. Business Insider's 2023 travel study showed 10.65% of travelers surveyed bought cancel for any reason insurance. Cost may be a factor, but in many cases, the coverage is more affordable than you might think. Regardless, companies must offer a diverse range of coverage options. We award five stars to companies offering all standard coverages and additional options like pet and sports equipment protection.

Our 2023 travel study indicated the majority of purchases were made through the travel provider (ex: flight protection insurance when you're purchasing your airline tickets). While these may be sufficient for some customers, we look for companies offering a more comprehensive range of services.

According to the U.S. Travel Insurance Association, the average cost of travel insurance will be between 4% and 8% of total travel expenses. Anything beyond that price point should include additional benefits beyond the standard inclusions, such as CFAR protection or upgraded medical coverage. Anything below that 4% threshold may leave you lacking important or sufficient coverage in an emergency.

Convenience and Flexibility

Whether you're an infrequent traveler or a suitcase warrior, a good travel insurance company should have you covered. In many cases, you might not even have to talk to a person in order to purchase your policy.

Many people think of travel insurance in context with specific trips, but most of these top contenders sell both single-trip and multi-trip policies, also known as annual travel insurance. Some companies also offer plans specifically designed for cruisers, students abroad, and business travelers. (Read our guide to the best cruise travel insurance companies for more details.) Finally, all of these providers offer multiple options for getting the specific areas and amounts of coverage that you want.

Claims Handling

Most travelers never have a large claim. Premiums are low, and it provides peace of mind for the just in case situations. So they leave reviews based on their reduced stress levels. But what happens if you lose your luggage or have to stay a few extra days due to an unexpected accident? Will your insurance carrier cover your claim without all the hassle? We check real customer reviews to sort this out for you.

Ease of Use and Support

When purchasing, during your trip, and throughout the claims process, you may need extra support. Does the company have a 24/7 help line? Does it have an online or mobile system allowing you to self-manage? Essentially, what are the options when you need help? We look at the big picture to evaluate the average customer experience with each company.

You can read our full insurance rating methodology for even more details.

Best Travel Insurance FAQs

There isn't one best travel insurance company; there are many great providers on the travel insurance market today. Our overall winner was Nationwide for its breadth of coverage options. AIG Travel Guard, AXA, Berkshire Hathaway, Tin Leg, WorldTrips and Trawick also made the cut. The best pick for you will depend on what features you value the most, like a low premium or high coverage limits.

While coverage varies by policy, common exclusions often include pre-existing medical conditions (unless you have purchased a waiver), accidents caused by high-risk activities if not specifically covered (e.g., skydiving, scuba diving), travel for medical procedures, and events known before purchasing the policy (e.g., traveling during a pandemic). Always read your policy carefully to understand the exclusions.

The average cost of travel insurance is 4% to 8% of your total trip cost, so it could vary widely depending on where you're traveling and the length of your trip. Your age, the number of people in your group, and other factors can also influence how much you'll pay.

Yes, travel insurance typically offers some coverage of canceled flights, but if this benefit is important to you, make sure you read the fine print of your policy to make sure it offers adequate reimbursement. If you think you may need to cancel your travel plans, you should consider purchasing cancel for any reason (CFAR) travel insurance .

The best travel insurance for adventure sports is World Nomads , which covers over 300 sports in its base plan.

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