AMEX Premium Car Rental Protection

[audreyh1]

I finally signed up for the AMEX Premium Car Rental Protection because we decided to rent a Tesla, and my Chase card which offers primary protection for car rental explicitly excludes the Tesla brand along with several other “luxury” brands/models. AMEX bases their primary car rental coverage on car price and will cover up to $75K or $100K car value depending on which version you choose.

So basically the deal is that AMEX charges you a flat fee for each rental when they see you have rented a car on their card that you assigned to the rental protection program. Seems pretty straightforward.

The odd thing was, that the rental company does not post the charge until after you return the vehicle. There is a pending charge (which often includes a deposit) and that came through. But until the charge is posted, which happens right after you return the car, AMEX doesn’t charge you the insurance fee. I did finally see the car rental protection fee the day after my car rental charge posted.

I just felt strange not seeing anything from AMEX Assurance until a day or two after I returned the rental car. Obviously they saw the pending charge from the car rental company. It would have been nice to get a text or something telling me that the Premium Car Rental Protection had been triggered once they saw the pending charge.

I know they’ve had this program for a long time. Seems like they would have more communication.

 

[Sunset]

How do you assign a car to then rental protection program ?

I'm not sure I even know what are "luxury" brands. By signing up aren't all cars up to the value insured ?

Why would there be a choice between $75K and $100K, wouldn't a person simply pick the up to $100K amount since who knows exactly what a car value is worth ?

 

[audreyh1]

You don’t assign a car (typo?). You use your assigned AMEX card to pay for the rental. When you sign up for the program you specify the AMEX card to assign. I think you can assign more than one.

You save $10 per rental by choosing the lower protection limit.

Some credit cards don’t specify an insurance limit, but instead exclude certain brands, models and even types of vehicles such as cargo vans. So it pays to check. There are quite a few excluded “luxury” or “exotic” brands listed for my Chase card and a mention of “certain models” of BMW etc.

 

[SecondAttempt]

I finally signed up for the AMEX Premium Car Rental Protection because we decided to rent a Tesla, and my Chase card which offers primary protection for car rental explicitly excludes the Tesla brand along with several other “luxury” brands/models. AMEX bases their primary car rental coverage on car price and will cover up to $75K or $100K car value depending on which version you choose.

So basically the deal is that AMEX charges you a flat fee for each rental when they see you have rented a car on their card that you assigned to the rental protection program. Seems pretty straightforward.

The odd thing was, that the rental company does not post the charge until after you return the vehicle. There is a pending charge (which often includes a deposit) and that came through. But until the charge is posted, which happens right after you return the car, AMEX doesn’t charge you the insurance fee. I did finally see the car rental protection fee the day after my car rental charge posted.

I just felt strange not seeing anything from AMEX Assurance until a day or two after I returned the rental car. Obviously they saw the pending charge from the car rental company. It would have been nice to get a text or something telling me that the Premium Car Rental Protection had been triggered once they saw the pending charge.

I know they’ve had this program for a long time. Seems like they would have more communication.

I have used the premium rental protection for close to 10 years. I have had no issues with it per se but I have noticed the same thing you have.

They only seem to charge you if the rental is ultimately charged to your AMEX platinum card. So if nothing happens you can just return the card and pay with a different card. I have done that on numerous occasions because not only do you not pay for the premium insurance, they also do not claw back the 20% discount! So better to get Chase points!

I like the piece of mind but little things like this make me nervous!

 

[audreyh1]

Interesting. Hadn’t thought of that but probably wouldn’t do it because the rental company inspects the car later and could claim something. It might be something you hadn’t noticed or whatever.

Thanks for sharing your experience,

 

[SecondAttempt]

Interesting. Hadn’t thought of that but probably wouldn’t do it because the rental company inspects the car later and could claim something. It might be something you hadn’t noticed or whatever.

Thanks for sharing your experience,

I've also had a couple of rentals where they never charged me for the insurance. That makes me a little worried that IF something DID happen they would say I was not insured!

I had an accident in a rental car about 10 years ago and learned a lot from the experience. I think I have posted about it here previously so I will not give details again. Basically it was an unusual traffic situation and I actually though I was at fault. Cops wrote up a report without citing either of us. We told the same story so there was no real dispute. No damage to the rental car at all. I reported to Hertz and they contacted my insurance company (State Farm). I was amazed at how smooth the process went. State Farm assured me from the beginning that I was covered under my regular auto policy liability coverage for any damage to other vehicles or property but not for damage to the vehicle I had rented. But they offered to assist in getting coverage from the credit card I had used. It took several weeks but ultimately everything was sorted out, the insurance companies determined I was not at fault, and I paid nothing, my rates did not go up. Basically they made the entire experience very pleasant and easy. Insurance companies often get a bad wrap and it is probably deserved in many cases. But State Farm has always handled my claims very professionally, respectfully, and generously!

 

[Montecfo]

Is this worth it? I always decline coverage.

And once upon a time I tried to file a claim against credit card coverage. The number of hoops made it all but impossible to do.

 

[Sunset]

You don’t assign a car (typo?). You use your assigned AMEX card to pay for the rental. When you sign up for the program you specify the AMEX card to assign. I think you can assign more than one.

You save $10 per rental by choosing the lower protection limit.

Some credit cards don’t specify an insurance limit, but instead exclude certain brands, models and even types of vehicles such as cargo vans. So it pays to check. There are quite a few excluded “luxury” or “exotic” brands listed for my Chase card and a mention of “certain models” of BMW etc.

Thanks for pointing this out to me, while I'm a [-]cheapy[/-] frugal , I could innocently get a great deal someday on a luxury car and foolishly think my CC is covering me. That would be the time for an accident.

I'm going to read the fine print ...

 

[tulak]

Is this worth it? I always decline coverage.

And once upon a time I tried to file a claim against credit card coverage. The number of hoops made it all but impossible to do.

I submitted multiple claims using Chase’s coverage and it was easy.

I wonder if they cover Teslas?

 

[audreyh1]

I submitted multiple claims using Chase’s coverage and it was easy.

I wonder if they cover Teslas?

Chase Sapphire Reserve (not the Preferred) is the only Chase card I’ve read about that covers the Tesla Model 3/Y or other vehicles under $75K. The Chase Sapphire Preferred and Chase United Club cards specifically exclude the Tesla brand among many others and do not give a $ limit.

 

[tulak]

Chase Sapphire (not the Preferred) is the only Chase card I’ve read about that covers the Tesla Model 3/Y or other vehicles under $75K. The Chase Sapphire Preferred and Chase United Club cards specifically exclude the Tesla brand among many others and do not give a $ limit.

Thanks Audrey, that’s good to know. And I should clarified that I have the Chase Sapphire Reserve. I didn’t realize there’s a difference in coverage between the Sapphire cards.

 

[ncbill]

I finally signed up for the AMEX Premium Car Rental Protection because we decided to rent a Tesla, and my Chase card which offers primary protection for car rental explicitly excludes the Tesla brand along with several other “luxury” brands/models. AMEX bases their primary car rental coverage on car price and will cover up to $75K or $100K car value depending on which version you choose.

So basically the deal is that AMEX charges you a flat fee for each rental when they see you have rented a car on their card that you assigned to the rental protection program. Seems pretty straightforward.

The odd thing was, that the rental company does not post the charge until after you return the vehicle. There is a pending charge (which often includes a deposit) and that came through. But until the charge is posted, which happens right after you return the car, AMEX doesn’t charge you the insurance fee. I did finally see the car rental protection fee the day after my car rental charge posted.

I just felt strange not seeing anything from AMEX Assurance until a day or two after I returned the rental car. Obviously they saw the pending charge from the car rental company. It would have been nice to get a text or something telling me that the Premium Car Rental Protection had been triggered once they saw the pending charge.

I know they’ve had this program for a long time. Seems like they would have more communication.

Is it critical for you to have primary coverage other than via your regular auto policy?

If not you could just add an "unlimited non-owned coverage" (UNOC) rider to your auto policy:

https://www.mymoneyblog.com/state-farm-auto-insurance-rental-car-coverage.html

 

[marinauser]

I would also check your own auto insurance to see if it covers rental cars. Many do so long as you have collision and comprehensive coverage.

 

[audreyh1]

Is it critical for you to have primary coverage other than via your regular auto policy?

If not you could just add an "unlimited non-owned coverage" (UNOC) rider to your auto policy:

https://www.mymoneyblog.com/state-farm-auto-insurance-rental-car-coverage.html

It’s a preference to have rental primary coverage and let the card company deal with any issues and no record, no deductible with my regular auto insurance company. From everything I’ve read the cards do a good prompt job of handling issues with the rental company.

 

[Montecfo]

My one experience ( a visa card) was not satisfactory. There were about 9 steps. 2 proved to not be possible. Maybe it was in fact the rental company. They have to cooperate also.

In any event, I would not see this as a benefit worth seeking but that's just me.

 

[SecondAttempt]

I would also check your own auto insurance to see if it covers rental cars. Many do so long as you have collision and comprehensive coverage.

Everyone should check their own but in my case my regular auto insurance liability coverage includes liability coverage on any vehicle I happen to be driving. But it does not cover a rental car if, for example, a falling tree hits it or another vehicle causes an accident that damages my rental. The LDW waiver they try to sell you is often covered by your regular auto insurance (but please check). The CDW waiver is generally NOT covered by your regular car insurance. But again, please check because I have no way of knowing details about your personal insurance policies and the consequences could be severe!

 

[SecondAttempt]

My one experience ( a visa card) was not satisfactory. There were about 9 steps. 2 proved to not be possible. Maybe it was in fact the rental company. They have to cooperate also.

In any event, I would not see this as a benefit worth seeking but that's just me.

I mentioned in another thread about needing chip and pin in europe for a car rental. Still working on that but the Mastercard I thought would work requires that the insured have a drivers license from their state of residence. While this may not seem so unusual, Hawaii will not give me a state drivers license until my Arizona license expires which will be after I have lived here for almost 20 years!

So be careful and read the fine print.

 

[Sunset]

I mentioned in another thread about needing chip and pin in europe for a car rental. Still working on that but the Mastercard I thought would work requires that the insured have a drivers license from their state of residence. While this may not seem so unusual, Hawaii will not give me a state drivers license until my Arizona license expires which will be after I have lived here for almost 20 years!

So be careful and read the fine print.

This must be because you are not giving up your AZ license Or does AZ give out license's with a 20 year expiry date

What is stopping you from going into a HI license office to take the written and drivers test without showing your AZ license ?

 

[SecondAttempt]

This must be because you are not giving up your AZ license Or does AZ give out license's with a 20 year expiry date

What is stopping you from going into a HI license office to take the written and drivers test without showing your AZ license ?

Arizona licenses expire on your 65th birthday. So if you get your license on your 16th birthday it has a 49 year expiry. There are some caveats post 2001. They now expire the photo but not the license after 5 years. But I have been here in Hawaii almost 10 years and I recently checked my Arizona driving abstract and my license is still valid even though I think the photo shoul dbe expired.

Hawaii law does not allow you to get a Hawaii license until your prior state license expires. You can get a state ID but not a driver's license. You have to swear under oath you do not have a current license in another state.

So I guess the only thing stopping me is not wanting to commit a felony.