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Credit or Debit: which card should I use?The insurance described in this Certificate/Policy of Insurance is for eligible BMO Rewards World Elite Mastercard Primary Cardholders whose Accounts are in. BMO Credit Card Travel Insurance Changes ; Baggage delay insurance, $, $ ; Delay duration, 12 hours, 6 hours ; Baggage Delay or Loss insurance, Full or. Trip cancellation insurance allows reimbursement of prepaid, non-refundable travel expenses paid with the card if you need to cancel your trip for covered.