AMEX Rental Car Insurance help!

[Anonymous]

Hi guys,

Has anyone used AMEX's rental insurance benefit with the card?

How does it differ from the insurance offered by the rental car company?

Thanks!

[Anonymous]

So even though I'm an employee of American Express, I'm talking strictly 100% as a Card Member right now because I've been using this since before I even started employment there.. if you're talking about Premium Car Rental Protection, I strongly suggest it - it basically acts as your primary insurance for the duration of your rental for a flat fee of $25 (up to 42 days) charged only when you're making a car rental reservation.. the car rental companies charge usually between $10-20/day. What's nice is in the event that there were an accident or some other sort of damage claim, you just work directly with American Express and it all gets taken care of internally - no notifying your insurance company first (which subjects you to a rate hike at renewal) like many other credit card companies or the base coverage called Car Rental Loss and Damage Insurance.

I'd recommend reading up on it (you can also enroll if you desire) at https://www295.americanexpress.com/premium/car-rental-insurance-coverage/home.do and personally, I strongly recommend it.

If you were discussing the base benefit, you can read up on the details and coverages here: https://www.americanexpress.com/us/content/card-benefits/car-rental-insurance.html

Hope this helps!

[Skye12329]

One saves you money

We used our PRG when renting a car. I dont think PRG offers the primary insurance, but we didnt get into an accident. As for insurance, when offered by the rental company. You decline theirs and pay with your amex or card offering it. The car must fall within the T&C though. Usually no exotic cars or luxury...etc.

Also i would suggest googling primary vs secondary insurance. Some cards offer primary such as CSP and some offer secondary. It explains the difference.

[UncleB]

I had a thread a few months back about this very subject... American Express has an option called "Premium Car Rental Protection" which you if you sign up for actually becomes the primary coverage for rental cars.  It's actually a pretty good deal, especially for extended rentals (but less than 42 days).

Here's the direct link to the Amex site that has more details:

https://www295.americanexpress.com/premium/car-rental-insurance-coverage/home.do

I'll try to find the other thread to link back to as well... there was good information there as well.

Hope this helps! 

[UncleB]

Found it! 

Here's the link to the thread I mentioned above... it has some good info on the Premium Insurance Coverage:

http://ficoforums.myfico.com/t5/Credit-Cards/Amex-Premium-Car-Rental-Protection-your-thoughts/m-p/42...

[Anonymous]

Awesome! 

I want to thank all of you for providing helpful information, I appreciate it!

[Anonymous]

Good info Thanks

[bz386]

Why would you pay for "premium" car rental protection, when there are plenty of cards that offer it for free. For example the CSP and the United Explorer both have primary protection. Plus the insurance is actually valid worldwide, unlike Amex who excludes certain countries like Ireland and Israel. Seriously, I have multiple Amex cards but would never buy the overpriced "premium" cover.

[jsucool76]

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@bz386 wrote:
Why would you pay for "premium" car rental protection, when there are plenty of cards that offer it for free. For example the CSP and the United Explorer both have primary protection. Plus the insurance is actually valid worldwide, unlike Amex who excludes certain countries like Ireland and Israel. Seriously, I have multiple Amex cards but would never buy the overpriced "premium" cover.

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Kinda +1

If you have a card that offers primary rental insurance (CSP, United, Ritz, Fairmont, Diner's, or one of the Chase Ink cards) Pay with them. (Note: Ink cards only provide primary coverage if you're renting the car, and driving for "business.")

I think the amex premium insurance is a better deal than purchasing insurance from the rental car company, but I don't really think either is necessary. 

Note: Many cards that offer rental car insurance that is secondary, will offer primary insurance while renting overseas. Always check your CCs guide to benefits and benefit terms. 

[UncleB]

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@bz386 wrote:
Why would you pay for "premium" car rental protection, when there are plenty of cards that offer it for free. For example the CSP and the United Explorer both have primary protection. Plus the insurance is actually valid worldwide, unlike Amex who excludes certain countries like Ireland and Israel. Seriously, I have multiple Amex cards but would never buy the overpriced "premium" cover.

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I actually have a very good reason... I don't carry any of the cards that offers primary coverage for free! 

I'll agree that it's not for everybody, but for an Amex card holder who only rents occasionally it can be a bargain compared to the overpriced coverage offered by the rental agencies. 

Some folks might say primary coverage isn't needed anyway, and again, I'll concede that for some that may be the case, but for me, I feel it is necessary, if for no other reason than my own peace of mind.  For $25 it's nice to know if something minor happens I won't have to involve State Farm.

An ounce of prevention is worth more than a pound of cure.