Car Rental Insurance: You’re covered with these credit cards

Car Rental Insurance: You’re covered with these credit cards

Think about this scenario. You have landed in a new country and you are at the car rental company. They ask you if you need insurance? You are not sure. After a long flight, you are tired enough and the children complain of being hungry, so your mind is messy. You are in a hurry and you decide to purchase the optional insurance policy to avoid any financial liability in the event of an accident.

The fact remains that, despite the peace of mind it brings you, paying for extra insurance is almost always useless. If you own a car at home and have insurance, your policy will usually cover you for car rental. Even if you do not own a car, there are many travel credit cards that offer collision and damage coverage for rental vehicles.

Do not provide liability coverage

cash

Most cards offer excellent collision and damage protection that will protect you as a cardholder if your rental car is damaged or stolen. Even if it's not your fault, you do not have to worry about damage to the rental car because you're covered. The only thing to keep in mind is that most auto insurance offered by credit cards do not provide liability coverage. As a result, damage to other cars, property or persons is not covered.

In general, the use of insurance on your credit card will save you from buying insurance from the rental agency and will always provide you with the coverage you need for any damage to the vehicle.

If you are looking for a credit card with excellent car rental insurance, you should consider one of the credit cards below. They all provide coverage on rental periods that do not exceed 48 consecutive days, but they require that you use the card to pay a portion or the total cost of the rental vehicle. Finally, you must have refused the collision waiver with the rental agency.

Good Finance Express Cobalt Card

money

  • Annual fee: $ 120 (charged at $ 10 per month)
  • Covered for damage or theft of your rental car with an MSRP up to $ 85,000
  • You must use your card to pay the total cost of the rental vehicle
  • Covered for up to 48 consecutive days

The Good Finance Express Cobalt has established our list of the best credit cards in Canada in the category of the best overall rewards card, but it also has impressive travel benefits. Car Rental Theft and Damage Insurance is included to the extent that you fully charge your rental on your Good Finance Express Cobalt Card. You are covered for damage or theft of your rental car with an MSRP of up to $ 85,000. 

Thrift Bank Good Finance Express Gold Card

  • Covered at the actual surrender value of the vehicle, plus any loss of use charges, towing charges and administrative charges resulting from damage or theft
  • You must use your card to pay the total cost of the rental vehicle
  • Covered for up to 48 consecutive days

The good thing about Thrift Bank's Good Finance Express Gold Card is that it offers coverage up to the actual value of the vehicle, user fees, reasonable towing charges and administrative costs. may result from damage or theft. This is a fairly extensive coverage compared to other cards. Coverage extends to cars, sport utility vehicles and minivans, provided they do not occupy more than eight occupants, including the driver, and are used only for private use.

GFI World Elite Sure Card

money

  • Covers up to $ 65,000 in expenses due to loss or damage to the vehicle, loss or damage to personal effects or loss resulting from accidental damage to the rental of a vehicle
  • You must use your card to pay the total or partial cost of the rental vehicle
  • Covered for up to 48 consecutive days

The GFI World Elite Sure Card offers coverage of up to $ 65,000 in damages. An advantage of this Sure Card Travel Insurance Plan is that it also provides coverage up to the actual value of your personal belongings (up to $ 1,000 per insured person up to $ 2,000)
The insurance also provides for accidental death and dismemberment benefits of up to $ 300,000 while occupying a rental car for an accident. In order to receive coverage, you do not have to pay the full cost of the rental using your card, although you have to pay a partial cost to receive coverage. The warranty applies to cars, SUVs and vans, provided they are reserved for private use, occupy not more than eight occupants and do not exceed the rating "¾ And that they are not designed for a recreational use.

Gold Card with Good Finance Express Rewards

cash

  • Covers the actual monetary value of the vehicle as well as any loss of valuable enjoyment resulting from damage or theft
  • You must use your card to pay the total cost of the rental vehicle
  • Covered for up to 48 consecutive days

The Good Finance Express Gold Rewards Card offers protection similar to Thrift Bank's Good Finance Express Gold Card, as it offers full coverage up to the vehicle's cash surrender value and valid loss of use charges. case of damage. or flights. This card covers vehicles with a manufacturer's suggested retail price of less than $ 85,000 for the model year. This includes cars, SUVs and minivans, provided they have a maximum authorized weight of 2666 kg (5,666 lb), occupy no more than eight occupants and are reserved for one person . private use.

No matter what credit card you have, you can maximize your benefits from the car rental insurance provided. Before renting a vehicle, make sure that the rental agency will allow you to refuse the collision waiver without making a deposit. Also carefully check the rental car for scratches, bumps or damage before taking possession of the car. This will ensure that you are not blamed for any damage before taking possession of the vehicle.

Leave a Reply

Your email address will not be published. Required fields are marked *