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Car Rental Insurance of Chase Freedom® MasterCard

Picture of Item Reviewed

Editor's Rating:

Intro Purchase APR Regular APR Intro Balance Transfer Annual Fee Credit Needed
N.A. $0* Excellent
Executive Summary - The car rental insurance provided by MasterCard is called MasterRental Insurance. In this section of the review, we will highlight the key features of the car rental insurance of the Chase Freedom® MasterCard.

Like the travel related insurance and benefits, the Car Rental Insurance for this card is provided by MasterCard. In fact, they call it MasterRental Insurance. This functions like most other card card networks.

When you use your card to pay for a car rental, you can decline the collision damage waiver provided by the car rental company because MasterCard will be providing this service. Obviously, there are a few fine prints that you should be aware.

  • Firstly, the benefit is good for car rentals for up to 31 days.
  • Secondly, the the vehicle must seat 9 passengers or less
  • The retail value of the rented vehicle must have a retail price of $50,000 or less. That means that the coverage is good for only up to $50,000
  • The coverage for the insurance is secondary in the US. That means that if you rent a car here in the US and there is some damage, your primary insurance will cover it. If there are any deductibles that you have to pay, MasterCard will take care of it. In certain states, the law prohibits deductibles, which means that the primary auto insurer has to pay the damage in full. In such cases, this benefit will not apply
  • When you rent a car overseas and your main car insurer does not cover that, then MasterCard will act as the primary insurance.
  • When you have an accident on your car rental, the rental company will bill you for damages, towing charges and loss of use charges (which is their opportunity cost since they have a car that is out of commission). MasterRental Insurance will pay for these items that are charged to you.
  • This benefit does not apply when you rent a car in the following countries: Australia, Ireland, Israel, Italy, Jamaica, and New Zealand
  • Certain types of vehicles are also not covered by this policy. They include trucks, vans and pick-up trucks. Sports Utilities trucks and antique vehicles are also excluded from coverage. As mentioned earlier, if a vehicle cost more than $50,000, then it is also not covered. This means that MasterRental will not covered "up to $50,000", but instead, will not cover any vehicle as long as the cost exceeds this amount.
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