I always forget about the extra coverages that paying with a credit card provides. This is one worth

I ve written in the past about the hidden costs of renting a car , and Laura touched on one of these rental car insurance yesterday. Today I want to follow that up by taking a closer look at credit card rental car insurance policies.
Believe it or not, all major credit card issuers provide you with rental car insurance coverage if you pay for the rental with your card. While I always charge my car rentals, I ve never had to invoke the rental car insurance.
In the one instance online hotel reservation prague where I did damage to a rental car, it was a business trip, and my employer had negotiated a deal where all work-related rentals got full coverage from the rental agency. Thus, I just called in to report the damage and then handed over the keys and walked away at the end of the rental.
According to Visa s policy , you will receive coverage for both collisions and theft as long as you pay for the entire rental with your card. This coverage extends online hotel reservation prague to all authorized drivers on the rental.
As with most insurance policies, there are a ton of exclusions, including theft of personal belongings, personal injury, personal liability, loss due to off-road operation of the vehicle, and loss due to illegal activities.
As far as exclusions go, things like theft of personal items, personal liability, loss due to illegal activities, etc. are likewise not covered online hotel reservation prague by MasterCard. In addition, the MasterCard coverage extends only to damage that occurs on paved roads.
Interestingly, this coverage extends only to the person named on the Discover card, and it s valid only in the United States and Canada. Otherwise, the exclusions are quite similar to those of other card issuers.
Finally American Express. Their coverage is similar to that of MasterCard in that it covers collisions, theft, vandalism, and weather-related damage. However, like Discover, the coverage online hotel reservation prague extends only to the individual named on the card.
It s worth noting that debit cards do not typically offer this sort of protection. Thus, if you pay with a debit card, you ll not only be faced with a relatively large hold placed on your bank balance, but you ll also be foregoing free insurance coverage.
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I can personally vouch for the Visa s handling of rental car insurance. I was also unaware of the coverage that automatically was included if you paid for the rental with your visa card until we rented a small hatchback in southern California and had a slight problem with parallel parking. The damage wasn t significant but still into the few hundred dollar range. A rep from my cc company handled the conversation with the rental company as well as the damages!
Nickel this is a great tip, because I know tons of people that pay for that very insurance at rental car companies, then pull out their Visa or Master Card to pay for it. I think I ve even done that! I will definitely online hotel reservation prague remember this the next time I need a rental.
Nickel, I currently have a mastercard. Do they cover little things that the car insurance companies will try to nit-pick for? Such as a little crack on the windshield, a small mark on the bumper, a small tear on the seat, etc? I fell victim for something online hotel reservation prague like that once, and have always bought the extra insurance every time I rent a car to avoid it. Does Mastercard cover that instead?
I just received a letter about my Chase Freedom Visa. They are ending Car rental insurance coverage as well as changing their purchase protection coverage in August. I expect more banks will follow their lead.
Just finished paying $706 for tree limb damage to a rental from Alamo; that s my $500 deductible from Liberty Mutual plus $106 for loss of value to the car plus $100 administrative fee . Loss of use, probably the only reason I d have sprung for insurance thru Alamo (and thus almost double the daily rate for car rental) was covered by Liberty. I had charged to my Discover card, which basically covers nothing unless you total a Hummer stretch limo
However, before you decline that waiver, you really should read the actual wording of your credit card contract. The contract online hotel reservation prague will spell out exactly what is and is not covered. It can be different for each type of card, and for each issuing company.
I always forget about the extra coverages that paying with a credit card provides. This is one worth looking into and comparing against online hotel reservation prague what the car companies offer. I don t have cause to use a rental vehicle often, but when I do it s often out of the country. Does the same apply when used internationally?
Are you sure it was the rental coverage that was dropped? I recently received an updated benefits pamplet and Collision Damage Waiver Insurance is clearly still in it. The Travel accident insurance was cut in half from $500K to $250K, and delayed luggage insurance was completely dropped.
You should check your card s specific policy, but my Chase Freedom online hotel reservation prague s covers the United States and most foreign countries. No benefit is provided for motor vehicles in Israel, online hotel reservation prague Jamaica, the Republic of Ireland, or Northern Ireland.
I was in Hawaii two years ago and had my passenger window broke into and back-pack stolen. You must notify AMEX within a short time period I called them immediately, only to find out when I dropped off the car that the agency said they would not have reported it as a courtesy to me but the damage was done when AMEX sent a letter to Hertz asking about the charges. That said, no, my back pack and the contents were not covered nor were the Hertz Administrative charges of $80. However, online hotel reservation prague when I called Hertz, they immediately, without question, reduced it to $40.
John F: Just a note to let you know that I call my auto insurance co before renting. I decline all coverage with the rental company in the states and pay for an additional binder with my insurance online hotel reservation prague company for loss of rent. It runs me about $5 for 30 days. Since I don t rent ofter enough..it s worth me calling online hotel reservation prague in otherwise it runs about $50 a year.
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