RBC Avion cards offer good, flexible travel rewards with some pretty decent insurance coverage as well.
And now, the
This new coverage will provide up to $1,500 in protection if something happens to your mobile device – which isn’t offered by many credit cards.
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How mobile device insurance works
So how does mobile device insurance work?
First, you have to charge the cost of the new device to your card. Or, if it was included as part of a phone plan, the cost of the plan must be charged to your card.
Your phone will be covered for 2 years for any of the following reasons:
- accidental damage,
- physical loss, or
- mechanical failure.
How much will you be covered for?
While these RBC cards provide up to $1,500 in coverage, you’ll only be covered up to the cost of the device, minus depreciation. For RBC cards, that’s 2% per month.
You’ll also have to pay a 10% deductible off the depreciated value as well.
So, say your device cost $500 and you make a claim 6 months later. Here’s what your payout would be:
Depreciated value = 500 – (500 x 2% x 6 months) = $440
Then, you remove the deductible from this number:
Total Insurance Payout = 440 – (440 x 10%) = $396
However, every card is a little different. Be sure to read all the details of your insurance certificate to know exactly how it works.
Other credit cards with mobile device insurance
Of course, these RBC cards aren’t the only ones that provide mobile device insurance.
Here are a couple of other cards that include this rare perk:
| Credit Cards | Mobile Device Coverage Amount | Welcome Bonus | Annual Fee & Income Requirements | Apply Now |
|---|---|---|---|---|
| National Bank myCredit | Up to $1,000 | None | No annual fee or income requirements | Apply Now |
| Scotiabank Momentum Visa Infinite | Up to $1,000 | None | * $120 annual fee * 60K personal or 100K household income requirements |
Apply Now |
| Tangerine World Mastercard | Up to $1,000 |  $125 GeniusCash + $120 (terms) |
* No annual fee * 60K personal or 100K household income requirements |
Apply Now |
National Bank myCredit
While the mobile device insurance is rare, it’s even rarer on credit cards with no annual fee.
However, the
Earn cash back rewards, get mobile device insurance, and pay no annual fee.
To get you started, you’ll get $120 cash back when you spend $200 per month in the first year.
Afterwards, you’ll earn 1% on restaurants and bills, and 0.5% on all other purchases.
Get more details here:
Scotiabank Momentum Visa Infinite
As of August 1, 2019, the
It’s a good addition to our top rated cash back card. And what makes it our top cash back card? The earn rates – you’ll earn plenty of cash back on your essentials:
- 4% on groceries and recurring bills,
- 2% on transit and gas purchases, and
- 1% on all other purchases.
With high earn rates, great insurance, and mobile device coverage, this Scotiabank card has a lot to like. And, you also get the first year free to see if this card works for you.
×2 Award winner 
GC: $20
2x Award winner
Tangerine World Mastercard
Another new entrant in the mobile device coverage world is the
A top no annual fee card, you’ll earn:
- 2% cash back on up to 3 categories of your choice,
- 0.5% cash back on all other purchases.
Your turn
What do you think of this addition to the RBC cards?
Is mobile device insurance something you think would be useful?
Let us know in the comments below.
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GC: 
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