If you feel more comfortable sticking to a big bank name you know well, Scotiabank travel insurance offers some comprehensive single and multi-trip coverage. You'll get all the basics – like emergency medical and trip cancellation – with up to 50% savings if you're travelling within Canada. They also added COVID protection, so you can feel a bit more safe even in these uncertain times.
As with most insurance purchases, it's important to shop around before committing to any one plan – even if it's from a big bank. Oftentimes, you'll pay a bit extra for the convenience of sticking with a bank instead of going to a new company – and sometimes the bank's insurance coverage is underwritten by other insurance companies anyway.
Scotiabank travel insurance features
Here are the features of Scotiabank travel insurance, all in one place:
Why You Want It
Save up to 50% for travel within Canada + Pandemic coverage available.
Special Features
- COVID protection available
- Plan options for visitors to Canada
Eligibility
- Canadian resident
- Non-Canadian visitors
Provinces
AB, BC, MB, NB, NL, NS, NT, NU, ON, PE, SK, YT
Features
Travel Accident
$50,000
Emergency Medical
$10,000,000
Trip Cancellation
$2,500
Trip Interruption
$2,500
Flight Delay
See Issuer for Details
Baggage Loss, Damage, Delay
See Issuer for Details
Hotel Burglary
See Issuer for Details
Rental Car Theft And Damage
Rental Car Accident
N/A
Rental Car Personal Effects
N/A
Student Plans Available?
Scotiabank travel insurance product rating: 3.9 stars
Scotiabank travel insurance is an attractive choice because it's offered by a well known bank. It also has simple coverages, mostly differing based on where you're going and how many trips you want to be covered. There's not a lot of confusing plans to play with to get what you want.
The downside is big banks tend to charge a bit more for insurance coverage than the online alternatives, mostly because of the convenience of working with a well-known company that you may already do the rest of your banking with too.
Rating methodology
To calculate our Genius Ratings, we compare the features of the account or product in question with other similar products in Canada. We give each feature a score out of 5 based on that comparison. Once we’ve rated all the features, we run them through our proprietary algorithm to produce a final rating out of 5.
Learn more about our rating methodology.
The pros of Scotiabank travel insurance
There’s plenty to smile about with Scotiabank’s travel insurance.
Pros
Domestic travel perks
If you’re travelling within Canada, you can save 50% on the cost of Scotiabank’s Emergency Medical Single Trip Plan. This means you’ll be covered for up to $10 million in emergency medical insurance, plus you can even receive a housecall from a doctor with the Medical Concierge benefit.
COVID travel insurance plan
Obviously, this is one of Scotiabank’s more recently developed plans, but it seems to be quite comprehensive. It provides up to $5 million for non-COVID related claims and up to $1 million for COVID-related expenses for a variety of treatments and services. However, these benefits are only good for those who’ve been fully immunized against COVID-19.
Student plans available
There are plans for both outbound and inbound students – in other words, for Canadian students who are leaving the country to study abroad and for those students coming to Canada to study. Both types include individual and family plans, cover up to $2 million, and "wellness benefits" like yearly checkups and eye exams.
Easy online application
If you're a Scotiabank customer, you can use Scotiabank’s user-friendly, easy-to-navigate online platform to apply for your chosen insurance package.
The cons of Scotiabank travel insurance
Unfortunately, Scotiabank’s travel insurance service has some pretty serious drawbacks.
Cons
Unavailable for Quebec residents
Despite having impressive coverage for domestic travel, Quebec residents hoping to travel are out of luck with Scotiabank. Their site makes it sound like this is a temporary restriction, but it’s hard to really tell.
No rental car coverage
While this travel insurance does offer coverage for your baggage, if that baggage is being transported within a rental car and something happens, you might be out of luck. And while it isn’t really unusual for rental cars not to be included with travel insurance plans, it’s still disappointing.
Scotiabank travel insurance alternatives
Take a look at how Scotiabank travel insurance measures up against its competitors.
 |  |  |  | |
|---|---|---|---|---|
| Account | Scotiabank Travel Insurance | soNomad | TD Travel Insurance | RBC Travel Insurance |
| Genius Rating | ||||
| Why You Want It | Save up to 50% for travel within Canada + Pandemic coverage available. | Pay 25% less for coverage on average + Get a free, no-commitment quote in minutes. | Choose from 4 plans + convenient online quotes and claims 24/7. | Includes comprehensive, medical, and trip cancellation + 24/7 support. |
| Travel Accident | $50,000 | $25,000 | $200,000 | See Issuer for Details |
| Emergency Medical | $10,000,000 | $2,000,000 | $5,000,000 | $Unlimited |
| Trip Cancellation | $2,500 | $20,000 | $25,000 | See Issuer for Details |
| Trip Interruption | $2,500 | $25,000 | $25,000 | See Issuer for Details |
| Flight Delay | See Issuer for Details | $1,000 | $700 | $1,750 |
Show More | ||||
| Get a quote See more Scotiabank products Compare | Get a quote See more SoNomad products Compare | Learn More See more TD products Compare | Learn More See more RBC products Compare |
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FAQ
Does Scotiabank have the best travel insurance in Canada?
Scotiabank’s travel insurance has a 3.9 star Genius Rating, making it pretty competitive with other plans of its kind. If you look at the list of alternatives above, you’ll see that TD has a higher Genius Rating.
Does Scotiabank offer COVID travel insurance?
Yes, Scotiabank travel insurance has a specific plan available for those travelling during the COVID-19 pandemic. For those who are fully immunized, this plan provides up to $5 million to cover a variety of treatments and services.
How can I get a Scotiabank travel insurance quote?
The process for getting a Scotiabank travel insurance quote can all be done online at this link. You do not need to be an existing customer to get a quote.
Why should I choose Scotiabank travel insurance?
Choosing travel insurance with Scotiabank can be a good choice for those who are already customers. And because it’s one of the big 5 banks in Canada, it offers safety and reliability that other options don’t. It isn’t the cheapest option though, so shop around before making a final decision.
Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity. For complete and updated product information please visit the product issuer's website.
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