Upcoming Changes to Insurance on BMO Credit Cards

BMO has announced a number of changes to the insurance coverage on many of its credit cards, which take effect as of July 6, 2023.

It’s a bit of a mixed bag of positive and negative changes; however, the most notable amendment is the upcoming loss of flight and baggage delay coverage for award bookings.

Upcoming Changes to Insurance on BMO Credit Cards

BMO has announced a number of changes to insurance coverage on many of its credit cards, which will take effect on July 6, 2023.

The changes affect the following credit cards:

The complete details for changes to each card are listed on the BMO website; however, we’ll highlight the most notable ones below.

It’s important to note that any bookings made before then will be bound by the current coverage on the credit cards, even if the date of travel is after July 6.

So, as long as you make your booking prior to July 6, 2023, you’ll be bound by the current suite of coverage on your credit card, and the upcoming changes won’t affect your travel. However, any bookings made on or after July 6, 2023, will be bound by the amended insurance coverage.

As a reminder, BMO’s suite of World Elite Mastercards currently covers award bookings from any program, since the language on the policies stipulates that you’re covered as long as you charge the full or partial cost of the trip to your credit card.

This means that by simply paying for the taxes and fees with an eligible BMO World Elite Mastercard, you’ll enjoy coverage for baggage and flight delays.

However, as of July 6, you’ll need to charge the full cost of your trip to a BMO credit card in order to be covered for flight delay or baggage delay insurance. This is a negative development for anyone who uses certain BMO credit cards to be covered for award bookings in the event of a baggage or flight delay.

Of the aforementioned credit cards, the insurance coverage on the BMO Ascend World Elite Mastercard, the BMO eclipse Visa Infinite Privilege Card, and the BMO Air Miles World Elite Mastercard have the strongest overall packages.

Aside from the loss of flight and baggage delay coverage for award bookings, the most notable changes that will affect the BMO Ascend World Elite Mastercard and BMO Air Miles World Elite Mastercard as of July 6, 2023, are as follows:

• Out-of-province and out-of-country emergency medical insurance coverage will increase from $2 million to $5 million per…