Triston Martin
Jan 02, 2023
However, some credit cards provide rental car insurance as one of their perks just for being a cardholder, in contrast to rental businesses, who often attempt to upsell their consumers on more costly rental plans. Even though many credit cards have eliminated this form of protection in recent years, some of the finest credit cards that provide travel rewards continue to provide it. Here is all you need to know about how the car rental insurance that comes with credit cards works and how to choose the best credit card for your specific requirements. Which credit cards cover car rental insurance?
The coverage provided by rental car insurance operates differently from the coverage provided by your own insurance, and it is essential to understand the various insurance coverage available.
Your own auto insurance or a policy purchased through the rental agency can include coverage for medical expenses, legal defense costs, and replacement of stolen items, depending on the policy's specifics. However, credit card rental vehicle insurance often only provides one kind of coverage, either collision or loss damage.
Primary coverage is exactly what it sounds like: it implies that you may submit a claim directly to the administrator of the benefits that come with your credit card before attempting to ask for assistance from other sources, such as your homeowner's or personal car insurance. Because of this, you won't have to worry about meeting the deductible on your insurance policy, eliminating the possibility that your premium may go up. However, only a small percentage of credit cards provide this security.
This is by far the most prevalent scenario, implying that if you get into an accident with your rental car, you will have to exhaust any other insurance plans you may have before you can turn to the advantages of your credit card. It is important to remember that secondary coverage may compensate you for any deductibles you are responsible for paying on another insurance policy as a result of a claim involving a rental car.
If you want to use the rental car coverage that comes with your credit card, you may be required to do a few different procedures.
Even if the advantages of this card are not nearly as broad as those offered by other choices, you may still count on them to assist you in times of need. The charge is $95 per year to use it.
The secondary vehicle collision damage waiver coverage is extended to cardholders of the Capital One Venture Rewards Credit Card, a Visa Signature card. It covers physical damage, theft of the covered rental car, loss of usage, and the cost of towing the vehicle to the closest facility if it was damaged or stolen. However, it will not cover lengthier rentals (the duration of coverage is 15 days in your home country and 31 days outside of it), and insurance will not cover the priciest or most exotic autos, among other limits.