I have summarized all the mobile device insurance available with your Canadian credit card issued by all major banks of Canada.
- American Express Mobile Device Insurance
- BMO Mobile Device Insurance
- CIBC Mobile Device Insurance
- RBC Mobile Device Insurance
- Scotiabank Mobile Device Insurance
- TD Mobile Device Insurance
If you do not want to read through all the coverage information, the most important question is, which is the best credit card in Canada for mobile device insurance?
I had to break it out into two different categories, one for families and the other for individual travelers.
Coverage up to $1,500
RBC WestJet World Elite card is the best credit card with mobile device insurance as it covers up to $1,500 per device. This is also the cheapest credit card that covers up to $1,500. All the other credit cards with that coverage typically command hefty premiums. While the depreciation is 10%, rather than a fixed amount, I believe in most situations, this will benefit you.
Coverage up to $1,000
I had a choice of credit cards, and I decided to pick the one card that likely exists in the wallets of most Canadians – the CIBC Costco MasterCard. With no annual fee and $1,000 coverage, this is one of the best credit cards to have for mobile device insurance.
Conclusion
I always enjoy knowing that my expensive phone purchases are largely covered through credit card insurance. This helps me save $200 to $300 that most manufacturers charge for their supplemental insurance.
