BMO Ascend World Elite Mastercard insurance: which coverages actually pay out?

Cancel before departure for a covered reason and the card refunds prepaid, non-refundable travel arrangements up to $1,500 per person, capped at $5,000 per account per trip. About ten reasons qualify, including sickness, injury or death, involuntary job loss, jury duty, a refused travel visa, and a Canadian government travel advisory issued after you booked. There is no deductible. You must contact Allianz and your travel suppliers within 48 hours of cancelling.

Out-of-province and out-of-country emergency medical covers up to $5,000,000 per person for sudden, unexpected medical emergencies, for trips of up to 21 consecutive days. It pays hospital, ambulance, emergency dental, private nursing, air evacuation and return of remains. Two limits change everything. The coverage applies only if you are 64 or younger on your departure date, so a 65th birthday removes it completely. It is also secondary and reimbursement based, so you advance the bill and claim it back, after any other plan pays first. Call Allianz within 24 hours, since some treatment needs pre-approval.

Emergency medical evacuation and air transportation are built into the emergency medical benefit, paid at actual cost within the $5,000,000 limit. The card arranges and covers transport to the nearest appropriate hospital, transportation to your bedside, and return of remains. Allianz coordinates the evacuation, but you must call before arrangements are made. The same age rule applies, so this is gone at 65 and over.

Once you are already travelling, trip interruption pays up to $2,000 per person, capped at $10,000 per account per trip, when a covered reason forces you to cut a trip short or delay your return. It uses the same covered reasons as cancellation and pays the extra cost of a one-way economy fare home. Contact Allianz within 48 hours.

Flight delay coverage starts after a 4 hour delay to your scheduled flight, a lower and more realistic trigger than the 6 hour bar many cards use. You get up to $500 per account per trip for extra accommodation and travelling expenses during the wait. The full airfare must be charged to the card. Keep receipts for meals, hotel and transport.

No missed connection coverage. This benefit is not included with this card. Rebooking and extra costs from a missed connection are the cardholder's responsibility.

Getting home early after a covered emergency is handled inside the trip interruption benefit, not as a separate pot of money. The card pays the extra cost of a one-way economy fare back to your departure point, up to the $2,000 per person interruption limit. There is no distinct early return limit on top of that.

If a common carrier delays your checked bag more than 6 hours, the card reimburses essential items like toiletries and a change of clothes, up to $500 per person and $1,000 per account per trip. Your ticket must be charged to the card. Keep receipts and get written confirmation of the delay from the carrier.

Lost, stolen or damaged baggage is covered up to $500 per person and $1,000 per account per trip while in the care of a common carrier. Here is where it gets thin: electronics, cell phones, computers, jewellery, furs and cameras are excluded while in the carrier's custody. So the $500 applies to clothing and ordinary belongings, not the expensive items you actually worry about.

Common carrier travel accident coverage pays up to $500,000 per person for accidental death or dismemberment while you are riding, boarding or exiting a licensed carrier like a plane, train, bus or cruise ship. If several insured people are hurt in the same accident, the account is capped at $1,500,000. It applies only while on a common carrier, not for the whole trip.

Hotel burglary coverage replaces personal property stolen or damaged in a break-in at your paid travel accommodation, up to $1,000 per occurrence for everyone combined. The accommodation must be charged to the card. Money and perishable goods are excluded, and you need evidence that an actual break-in occurred.