Is CIBC travel insurance the best in 2024?

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Alexandre Desoutter updated on 4 July 2023

Visiting another country or province without travel insurance can be a costly mistake. Indeed, did you know that an overnight stay in a hospital in the United States can exceed $14,000 CAD? Some countries might even refuse to help you if you are unable to prepay for treatment.

It is not fun to think about, but travel insurance is a necessity when you are away from home. It guarantees your ability to get and pay for health care, if and when you need it. Beyond medical emergencies, travel insurance can also help with flight issues and lost luggage, amongst other things.

That being said, what to think about CIBC travel insurance in Canana? What coverage is CIBC providing? For what price? What are its pros and cons? Read our review on CIBC's medical travel insurance, get a quote, and see how the competitors fare.

Our 2024 review of CIBC travel insurance

CIBC (Canadian Imperial Bank of Commerce) is a Canadian multinational banking and financial services company.

Protect yourself and your family when you travel outside your province or abroad by choosing one of CIBC's travel insurance plans.

CIBC travel insurance is underwritten by Co-operators Life Insurance Company and The Sovereign General Insurance Company.

See below CIBC's travel insurance pros and cons:

Why CIBC could be right for you:

A trusted insurance brand
Up to $10 million in emergency medical coverage
Generous dental coverage
24/7 telephone travel assistance, wherever you are
Online quote and purchase available

Why CIBC may not be right for you:

Medical questionnaire for customers over 60
No specific travel insurance coverage for seniors, retirees, snowbirds or students
Must notify the company prior to receiving any medical treatment

Before choosing CIBC travel insurance, compare options and quotes. A little shopping around can help you to save money and find a coverage that really fits your needs:

Compare the best travel insurance plans on the market!

Get a quote

What does CIBC travel insurance cover?

CIBC Travel Medical Insurance

With the Travel Medical Insurance plan, you are covered for the following:

Medical and dental care

You are covered for eligible hospital and physician fees, and expenses related to an accidental injury or new illness.

Your coverage also includes paramedical services including chiropractic, podiatry and physiotherapy up to a maximum of $500 if these services are required due to an emergency for which you are covered.

Finally, with CIBC health travel insurance, you are covered for dental care up to a maximum of $4,000 if it is required due to an eligible direct accidental blow to the mouth.

Transportation

CIBC covers you for the cost of repatriation to the nearest appropriate home or medical facility by scheduled flight, escorted flight, air ambulance or ground ambulance.

Repatriation costs for your insured dependent children or travelling companion who are travelling with you are also covered.

You are also covered for round-trip economy airfare by the most direct route for a family member to travel to your bedside if you are hospitalized due to a serious emergency.

Convenience and comfort

CIBC Travel Medical Insurance covers your meals and accommodation expenses up to $300 per day to a maximum of $1,000 when your trip is extended beyond your scheduled return date due to a medical emergency or death.

Coverage is extended for up to 72 hours if your trip must be extended beyond your coverage end date due to a medical emergency or any other event for which you are covered.

Trip interruption allows you to return to your home province or territory once without cancelling your coverage.

CIBC Trip Cancellation & Trip Interruption Enhanced Plan

Travel Cancellation & Interruption Insurance provides coverage for the following:

Trip Cancellation and Interruption Insurance

If you have to cancel or interrupt your trip for a covered reason, your eligible, non-refundable prepaid travel expenses will be covered, up to the amount of coverage purchased (maximum of $50,000 per person before departure).

Baggage and Personal Effects Insurance

You are covered for the cost of replacing your baggage and personal effects if they are delayed, damaged or lost during a trip.

Accidental Death and Dismemberment Insurance

This coverage provides a lump sum payment to you in the event that your baggage and personal effects are delayed, damaged or lost during your trip.

This coverage provides a lump sum payment in the event of death or loss of limb or sight due to an accident.

CIBC Comprehensive Travel Insurance Plan

Comprehensive Travel Insurance covers you for the following:

Travel Medical Insurance

You get up to $10 million in coverage that will protect you and your family from unexpected medical emergencies when you travel.

Trip Cancellation and Interruption Insurance

If you have to cancel or interrupt your trip for a covered reason, your eligible, non-refundable prepaid travel expenses will be covered, up to the amount of coverage purchased (maximum of $50,000 per person before departure).

Baggage & Personal Effects Insurance

Baggage & Personal Effects Insurance covers the cost of replacing your baggage and personal effects if they are delayed, damaged or lost during a trip.

Accidental Death and Dismemberment Insurance

A lump sum payment is provided in the event of death or loss of limb or sight due to an accident.

NB: CIBC offers several bank cards (such as Aeroplan Visa Infinite, Mastercard, Aventura Gold, Aventura Platinum, etc.) with included travel insurance coverage. They might not offer the most covering / comprehensive protection. That's why we advise you to get an individual travel insurance plan.

For more information on CIBC travel insurance, download the PDF below:

Plan nameTravel Medical InsuranceComprehensive Travel InsuranceTrip Cancellation & Trip Interruption Enhanced
Emergency Medical
up to $10 millionup to $10 million
Baggage
up to $2,000up to $2,000
Cancellation and Interruption
up to $50,000up to $50,000
Covid-19
Comparison of CIBC travel insurance

Good to know

Most credit cards offer some king of travel coverage. It rarely is as covering as a travel plan purchased with a private insurance company.

How much does a travel insurance with CIBC cost?

The cost of travel insurance coverage with CIBC depends on several variables:

  • Your age.
  • Your desired coverage and otpions.
  • Your deductible.
  • Your waiting period.
  • Your destination(s).
  • The lenght of your trip.

Therefore, we advise you to get a customized quote for an accurate rates for CIBC travel insurance.

Before settling on CIBC travel insurance, check out other travel insurance plans, coverages and prices using our free comparison tool below:

Compare the best travel insurance plans on the market!

Get a quote

How to purchase a travel insurance plan with CIBC?

To get quote for travel insurance with CIBC, you can click on a button on the CIBC travel insurance overview page. You will then be redirected to a dedicated website.

How to file a travel insurance claim with CIBC?

To make a claim on CIBC travel insurance, there are different scenarios.

  • For a medical claim, you should contact Allianz Global Assistance at 1-800-281-9109.
  • For all other claims, you should visit the Allianz Global Assistance online claims portal.

Does CIBC cover Covid-19-related travelling issues?

If you purchased your CIBC travel insurance on or after March 13, 2020, your trip cancellation and interuption coverage does not cover COVID-19 related claims.

Emergency medical claims are covered as long as the destination travel country is not under an "avoid non-essential travel" or "avoid all travel" advisory before your travel date.

How can I contact CIBC travel insurance?

For emergencies:
Contact CIBC travel insurance on this phone number: 1-800-281-9109 (Canada and USA)
Or on this phone number: +1-416-340-6524 (Worldwide)

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Alexandre Desoutter
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Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a as a contributor to several publications.