Executive Summary -
This section of the review looks at the car rental insurance policy of this card (it is often called the collision damage waiver policy). With this card, you can decline the coverage that rental companies offer you when you rent their vehicles. Detailed explanation below.
Potential card holders of this card would likely to renting a car at some point and one of the most common question we get regarding this card is what is the car rental insurance policy? Is there a collision damage waiver insurance? The answer is a qualified yes and the perk is actually provided by Visa since this is well, a Visa card.
When you rent a car anywhere, you will always be asked by the receptionist if you would wish to purchase collision damage waiver insurance from the rental company to protect you against any serious damage to the car. But with this card, you can decline the coverage since the card provides it as long as you pay the full rental with the card.
If you rent a car in the US, by law in the 50 states, you require auto insurance. Therefore, the collision waiver damage insurance provided by the card is on a secondary basis. That means that your main auto insurance is the primary coverage, and the cards benefit will pay for things like deductibles.
When you rent a car overseas, you will also get the same coverage. Since many domestic auto insurance does not cover you when you are abroad, the insurance provided by the card is a primary coverage. There is one thing to bear in mind though, and that is there is no coverage in Ireland, Israel and Jamaica. There are laws in these countries that require consumers to purchase collision damage insurance from car rental companies only and therefore the card does not provide the benefits if you rent a vehicle in these countries.
The coverage includes physical damage and theft that is not covered by your primary auto insurance. It also covers valid loss-of-use charges that the auto rental company will most likely charge you. They will be required to provide a fleet utilization log. Coverage will also include reasonable towing charges.
There are several other things you have to be aware of when you rent a car and want to make sure that the benefit will apply to you. For example there are certain types of vehicles that are not covered. Antique cars are defined as cars more than 20 years old. Luxury cars are also excluded. Examples include Aston Martin, Bentley, Bricklin, Daimler, DeLorean, Excalibur, Ferrari, Jensen, Lamborghini, Lotus, Maserati, Porsche, and Rolls Royce. Certain models of BMW, Mercedes Benz, Lincoln and Cadillac will be covered.
Another very important thing to remember is that you have to file your claim within 90 days.
Table Of Contents