Is PC Financial Travel Insurance good? Review 2024
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Discover the methodologyTravelling without travel insurance can be financially devastating. For example, a single night's hospital stay in the U.S. can cost you over $14,000, and some countries may deny medical assistance without prepayment.
Though not mandatory, travel insurance is crucial, covering healthcare costs, flight disruptions, lost baggage, and more. While there are traditional travel insurance options out there, PC Financial offers these benefits through its World Elite Mastercard, ensuring you have essential travel insurance included with your credit card.
So what does PC Financial Travel Insurance cover? Is it sufficient? What are its pros and cons? What does it cost? Let's find out in this comprehensive review of PC Financial Travel Insurance.
PC Financial Travel Insurance Canada: Key Points
- No Extra Cost for Travel Insurance: Included with the PC Financial World Elite Mastercard.
- High Medical Coverage: Up to $1,000,000 for emergency medical expenses.
- Best for Short-Term Travel: Coverage for trips up to 10 days.
- Age: Only covers travelers under 65 years old.
- Additional Perks: Also includes car rental and identity theft coverage.
Our PC Financial Travel Insurance Review 2024
PC Financial Travel Insurance is primarily offered through the PC Financial World Elite Mastercard, providing a comprehensive suite of travel insurance benefits at no additional cost beyond the card itself. This includes up to $1,000,000 in emergency medical insurance for trips up to 10 days, car rental collision/loss damage waiver insurance for up to 31 days, identity theft assistance, and 24/7 concierge services.
These features make it a cost-effective option, especially for frequent short-term travelers and those who shop at Loblaws-owned stores, maximizing the value of PC Optimum points. Compared to standalone travel insurance policies, PC Financial travel insurance saves on additional fees and provides competitive coverage limits.
However, it has notable drawbacks: it only covers travelers under 65 years, has a 10-day limit on trip duration, and the PC Optimum points can only be redeemed at specific stores, limiting flexibility. Despite these limitations, the card's extensive coverage and added perks make it a valuable choice for those fitting its usage profile, particularly those seeking to avoid the high costs of separate travel insurance
Expert advice
PC Financial travel insurance, offered through the PC Financial World Elite Mastercard, is a robust and cost-effective option for frequent travellers who typically take short trips. Its high coverage limits and additional perks like concierge services make it a valuable card for those who can utilize its benefits. However, its limitations on trip duration and age restrictions should be considered when choosing this as your primary travel insurance.
Pros of PC Financial Travel Insurance
- No Additional Cost: Travel insurance benefits come included with the PC Financial World Elite Mastercard, meaning no extra fees beyond the card itself.
- High Coverage Limits: Offers up to $1,000,000 in travel emergency medical insurance for trips up to 10 days, which is competitive among travel insurance providers.
- Comprehensive coverage: Includes other useful benefits like car rental collision/loss damage waiver insurance and 24/7 concierge services.
- Wide Acceptance: The card is accepted at numerous locations, including all Loblaws-owned stores and any retailer that accepts Mastercard.
- Additional Perks: Includes identity theft assistance and purchase insurance.
Cons of PC Financial Travel Insurance
- Income Requirement: The World Elite Mastercard requires a minimum annual personal income of $80,000 or a household income of $150,000, which might be restrictive for some.
- Limited Travel Duration: Coverage is only for trips up to 10 consecutive days, which may not be sufficient for longer trips.
- Redemption Limitations: PC Optimum points can only be redeemed at participating Loblaws-owned stores, which might limit flexibility compared to other rewards programs.
- Pre-existing Conditions: Coverage generally does not extend to pre-existing medical conditions unless specifically stated.
- Age restrictions: Does not cover travellers above 65 years old
Good to know
If you want to check if your credit card includes travel insurance and/or compare it with other cards, you can do it using our free tool HelloCard - Credit Card Insurance. Get instant results.
If you're looking for more comprehensive coverage, traditional travel insurance policies offer diverse options. You can use our free tool below to compare the best travel insurance policies online and get instant quotes.
Compare the best travel insurance plans on the market!
How is the PC Financial Travel Insurance Coverage?
PC Financial offers travel insurance benefits through its World Elite Mastercard, which provides a comprehensive package at no additional cost to the cardholder. Here are the key PC financial travel insurance credit card benefits:
- Travel Emergency Medical Insurance: Covers up to $1,000,000 for emergency medical expenses when travelling outside your province for trips up to 10 consecutive days. This includes hospital stays, doctor fees, private nursing, ambulance services, emergency air transport, and prescription drugs.
- Car Rental Collision/Loss Damage Waiver Insurance: Provides coverage if your rental car is damaged or stolen for rental periods up to 31 consecutive days, provided the full rental cost is charged to your PC Financial World Elite Mastercard.
- Identity Theft Assistance: Offers support and information on preventing identity theft and recovering from it if it occurs.
- 24/7 Concierge Services: Assists with travel arrangements, entertainment bookings, medical provider appointments, emergency medical transportation, and more.
What does PC Financial Travel Insurance cover?
Here is a table to give you a quick overview of the coverage provided under PC Financial Travel Insurance
| Coverage Type | Details |
|---|---|
| Travel Emergency Medical Insurance | Up to $1,000,000 for trips up to 10 days; includes hospital stays, doctor fees, private nursing, ambulance services, emergency air transport, and prescription drugs. |
| Car Rental Collision/Loss Damage Waiver | Coverage for rental car damage or theft for up to 31 consecutive days. |
| Identity Theft Assistance | Provides support and information on preventing and recovering from identity theft. |
| 24/7 Concierge Services | Assistance with travel arrangements, bookings, medical appointments, and more. |
Good to know
If you want coverage specifically for your medical needs during travel, explore our guide on the best travel health insurance. Compare plans and get free quotes.
What does PC Financial Travel Insurance not cover?
The coverage typically does not include:
- Pre-existing Medical Conditions: Generally not covered unless specified.
- High-Risk Activities: Excludes coverage for injuries from high-risk activities like extreme sports.
- Incidents Related to Alcohol or Drugs: Does not cover incidents arising from intoxication or drug use.
- Government Travel Advisories: If there is a Government of Canada travel advisory for your destination on your departure date, COVID-19-related benefits may not apply.
Good to know
PC Financial Travel Insurance does not cover seniors over 65. If you're looking for coverage for those above 65, explore our guide on the best travel insurance for seniors. Compare the best deals and get instant quotes.
How much does PC Financial travel insurance cost?
PC Financial travel insurance is provided through the PC Financial World Elite Mastercard at no additional cost beyond the card itself. Here are the key details:
PC Financial World Elite Mastercard
- Annual Fee: $0 (No annual fee for the card itself).
- Travel Insurance Benefits: Included with the card at no extra charge.
For traditional travel insurance coverage, use our free tool to compare quotes from Canada's top providers and get instant results.
Compare the best travel insurance plans on the market!
How do I get PC Financial travel insurance?
Here’s how you can obtain it:
- Apply for the PC Financial World Elite Mastercard:
- Eligibility Requirements: Ensure you meet the eligibility criteria for the PC Financial World Elite Mastercard, which includes having a minimum annual income of $80,000 for individuals or $150,000 for households.
- Application Process: Visit the PC Financial website and complete the online application form for the World Elite Mastercard. You will need to provide personal information, employment details, and financial information.
- Approval and Activation:
- Approval: Once your application is submitted, it will be reviewed by PC Financial. If approved, you will receive your new card in the mail.
- Activation: Activate your card by following the instructions provided with it, which typically involves calling a phone number or activating it online.
How do I contact PC travel insurance?
You can get in touch with the PC Financial travel insurance phone number: 1-844-862-8466 or 1-866-246-7262. They are both toll-free numbers. You may have to wait a few seconds to minutes in the queue when the lines are facing an unexpectedly high volume of enquiries.
The numbers are available only between 9:00 am and 5:00 pm (ET) from Monday to Friday. Weekends are closed for in-phone enquiries.
You could also fill up and submit a form on their website that is available under the Contact Us category and an agent will get in touch with you shortly after.
If you're an insurance holder, however, in the event of an emergency, you can call the toll-free at 1-855-856-7569.
How do I file a claim for PC financial travel insurance?
To file a claim, you can get in touch with your provider directly on the phone and a customer service agent will guide you through the process.
You could also login on the PC Financial website to fill out the claim form. It is extremely important to make sure you have all the supporting documents like invoices for purchases, bills, etc, at the time of the claims process.
How do I cancel my PC financial travel insurance?
If you are looking for information and instructions to cancel travel insurance from PC Financial at any time, please call 1-866-246-7262 to speak with a representative.
But cancelling your travel insurance might mean putting yourself at risk of financial stress should you be faced with unforeseen medical and other related issues during your travel. So, it's strongly recommended that you opt for travel insurance that best suits your needs.
