Not every card provides the same coverage. Most Visa cards include theft, damage to a rented car, towing and loss of use if you do not have a personal car insurance policy. Does my credit card cover rental car insurance?
Both Visa and Mastercard exclude injuries, property damage and damage to other vehicles, according to the nerdwallet.com website. If you have your own insurance, Visa will reimburse you for tax deductible expenses as well as some other fees that the insurer does not cover. The scope of Mastercard insurance varies depending on the issuing bank. For example, the USAA World MasterCard provides essentially the same benefits as Visa, but limits the $ 500 refund for loss of use. Several credit cards automatically offer basic protection, which means you are covered, even if you have your own car insurance. These include Discover Escape, Chase Sapphire Preferred and United Mileage Plus Explorer.
Where to look for information
Since November 2017, Visa, Mastercard, American Express and Discover have been offering some form of pre-paid car rental in their networks. However, the coverage of each particular card may vary depending on the bank that issued it, and even cards from the same issuer may have different levels of coverage. Understanding the extent of credit card coverage can be as simple as calling the phone number on the back of the card and asking the issuer. You can also refer to the “benefits guide” provided by the card issuer. (Look for him on the internet if you didn’t follow the documents.)
In general, if you plan to use your card cover, you must:
- Use this card to pay for rent
- Rent a car in your name and sign the lease agreement yourself
- Reject all theft protection / theft insurance offered by the rental company
- After picking up the car, take proof that your card covers you for the rental.
What do you have to take to prove that you are covered by insurance?
The rental company will have to see from the card provider something that shows what protection it provides. Different companies have different requirements, so it’s best not to assume it will be the same every time you rent a car.
If you have a document explaining all the functions of the card, this may be enough. But if you do not have this document or it is not detailed enough, the rental company may need to see a proof of coverage letter.
If the rental employees are not satisfied with the fact that the card provides adequate protection, they will ask you to buy compensation for the collision and protection against theft when picking up the car.
Your own insurance is usually the most important thing
The insurance usually offered at a car rental company is not really “insurance”, although many call this insurance. Car rental has car insurance. What they sell at the box office is a disclaimer that the rental company (and its insurance company) will not come for you financially if the car is damaged or stolen. Many people may refuse to rent a car because it duplicates the coverage they already have, usually because they have their own insurance policy.