Just discovered a GREAT option for rental car insurance

[nassa]

I used the AMEX car rental insurance program first time last year with no problems. One thing that was attractive to me in addition to what others have mentioned is that they cover "Loss of Use". This is a claim made by the rental car company for reimbursement for the days the car is out of their fleet while it is being repaired and unable to be rented.

 

[simple girl]

I used the AMEX car rental insurance program first time last year with no problems. One thing that was attractive to me in addition to what others have mentioned is that they cover "Loss of Use". This is a claim made by the rental car company for reimbursement for the days the car is out of their fleet while it is being repaired and unable to be rented.

This is my main reason for using the American Express program. The last time I researched this, I learned that personal insurance typically does not cover "Loss of Use" charges from the rental car company.

 

[Montecfo]

The way it was explained to me (by the rental car company), if there is an accident (or damage) the rental car company collects the damages directly from you and then you get reimbursed (or not) by your car insurance company. That would perhaps be a pain, but not a big deal to most of us who have credit cards or checking accounts that could cover most accidents.

I've always thought the insurance "waiver" was a racket. I never take it as I believe it's mostly a "profit center" for the rental car companies.

Now, I assume that using your own insurance company would include what ever deductible you usually would incur. Whether you could use your CC company to cover that deductible, I do not know. Fortunately, never had to deal with such an eventuality myself. YMMV

I think you are correct.

I tried to recover the deductible from my CC company once upon a time. I finally gave up as too many hoops.

Results may vary.

 

[samcat]

I charge all cars to our Chase Sapphire Reserve...supposedly it is primary coverage so I don't have to worry.

 

[HI Bill]

I guess everyone should check their cards' benefits. Here are two of mine that still have the following coverage!

Amazon Prime Visa includes the following:
"Auto Rental Collision Damage Waiver
Decline the rental company's collision insurance and charge the entire rental cost to your card. Coverage is provided for theft and collision damage for most cars in the U.S. and abroad. In the U.S., coverage is secondary to your personal insurance."

Costco Visa Includes the following: Worldwide Car Rental Insurance "If you experience an accident or theft involving a rental car you paid for with your Citi card, we may cover you up to $50,000 toward the cost of repairs or the cash value of the car, whichever is less. Be sure to decline the rental company’s collision loss/damage insurance for this coverage to be in effect.

 

[braumeister]

I charge all cars to our Chase Sapphire Reserve...supposedly it is primary coverage so I don't have to worry.

I do the same. Primary coverage, with up to $75K for theft and collision. A bunch of other travel benefits as well.

 

[audreyh1]

I guess everyone should check their cards' benefits. Here are two of mine that still have the following coverage!

Amazon Prime Visa includes the following:
"Auto Rental Collision Damage Waiver
Decline the rental company's collision insurance and charge the entire rental cost to your card. Coverage is provided for theft and collision damage for most cars in the U.S. and abroad. In the U.S., coverage is secondary to your personal insurance."

Costco Visa Includes the following: Worldwide Car Rental Insurance "If you experience an accident or theft involving a rental car you paid for with your Citi card, we may cover you up to $50,000 toward the cost of repairs or the cash value of the car, whichever is less. Be sure to decline the rental company’s collision loss/damage insurance for this coverage to be in effect.

You need to pay attention whether it’s primary insurance or not, otherwise you have to deal with your regular auto insurance first. Few credit card companies offer primary rental car insurance. Also you need to pay attention to exclusions.

 

[fh2000]

I do the same. Primary coverage, with up to $75K for theft and collision. A bunch of other travel benefits as well.

I have a Chase Sapphire Reserve card also. My understanding is that it is providing primary insurance for theft, though in the event of an at-fault incidence my own auto insurance will cover liability.

 

[Koolau]

I have a Chase Sapphire Reserve card also. My understanding is that it is providing primary insurance for theft, though in the event of an at-fault incidence my own auto insurance will cover liability.

Glad my card "says" they cover me. Before I ever rent again, I'm gonna call 'em and be certain what IS and ISN'T covered.



Good discussion!

 

[kingle]

I guess everyone should check their cards' benefits. Here are two of mine that still have the following coverage!

Amazon Prime Visa includes the following:
"Auto Rental Collision Damage Waiver
Decline the rental company's collision insurance and charge the entire rental cost to your card. Coverage is provided for theft and collision damage for most cars in the U.S. and abroad. In the U.S., coverage is secondary to your personal insurance."

Costco Visa Includes the following: Worldwide Car Rental Insurance "If you experience an accident or theft involving a rental car you paid for with your Citi card, we may cover you up to $50,000 toward the cost of repairs or the cash value of the car, whichever is less. Be sure to decline the rental company’s collision loss/damage insurance for this coverage to be in effect.

This Costo Visa specifically excludes diminished value. You're not fully covered. Note also the language says "cost of repairs". There are other fees and assessments involved.

I just did a big 'investigation' on this topic. I discovered that if you are involved in a rental car accident - your fault or not - you are responsible for the damage, deductible, loss of use (profit), administrative fees, storage and DIMINISHED value. My primary auto insurance will not cover diminished value. Some auto insurance companies have premium plans or riders that will pick up all costs - not mine. My travel credit will cover some of the expenses and deductible - but excludes diminished value. I checked almost 10 travel cards, two overall trip insurance policies and third-party rental coverage. ALL EXCLUDE DIMINISHED VALUE. Some excluded single car accidents! Also, if you get into an accident with a rental these charges and fees are assessed to the credit or debit card you left a deposit with. It's up to the renter to get reimbursed. I am now shopping my primary auto insurance for a better, more comprehensive policy. I'm also worried (not clear!) if I'm covered for diminished value on a car I have an accident with. I recently had an accident that resulted in a total (my car). Had I had it repaired the insurance companies involved refused to compensate for diminished value. My insurer gave my garage a hard time about storage fees. Rest assured, IF you get into an accident with a rental car, you WILL be charged for loss of use, diminished value, administrative fees and storage. Until I get my insurance updated I will be buying the Loss Damage Waiver or Collision Damage waiver from the rental company. The other thing I learned along the way - NEVER HAVE A VALET PARK A RENTAL CAR. As soon as they touch it - you may have lost your coverage.

 

[xlf11]

Bilt is an non-annual fee card with primary insurance in addition to the only one paying 1% cash back (no fee) on rent and many travel related benefits

 

[audreyh1]

I do the same. Primary coverage, with up to $75K for theft and collision. A bunch of other travel benefits as well.

Similar primary rental insurance with the Chase issued Inited Club card which I use in the US unless I rent a Tesla in which case I use the Amex alternative.

 

[kingle]

Similar primary rental insurance with the Chase issued Inited Club card which I use in the US unless I rent a Tesla in which case I use the Amex alternative.

Check your fine print on the Chase United Card - it was one I reviewed - no coverage for diminished value. I have seen reports in social media of diminished value claims ranging from $600 to $16,000. Sorry. I can't find a card that covers diminished value.

 

[kingle]

Bilt is an non-annual fee card with primary insurance in addition to the only one paying 1% cash back (no fee) on rent and many travel related benefits

Bilt does not cover diminished value. I have seen social media posts with diminished value claims running as high as $16,000. All rental companies seem to assess DV. I saw one claim of $680 in damage hitting a deer - with diminished value of $600. Plus other fees. Total claim was 3X the damage!! - Admin Fees, Storage, Diminished Value, Loss of Use. Rental companies are not your friend.

 

[Texas Proud]

Be aware that if you buy even a little bit of insurance from the car rental your other insurance will not cover damage...
On my last job someone rented a car... the policy was to always take the rental insurance as the cost was passed to the clients... but for some reason the receptionist decided to 'save' money and told the rental company that the max coverage was $20,000.... well, stuff happened (not the fault of the employee) and that is when we found out that the company agreed to the limit... but the damage, fees, loss of use was a LOT more than the insurance... we put in claims to the employees insurance and the credit card insurance... neither would cover it as there was an exception if you bought coverage with the rental company... we had to pay like $10K more...

 

[kingle]

Yup, you have to be careful. And with those additional charges - not hard at all to rack up 20K plus. Some rental companies will go so far as to demanding retail value for a total. In these days that could be $50k plus. Thank you for the addition to this thread.