Auto rental collision damage waiver coverage?

[masscredit]

I know some credit card companies offers this but I've never really researched it before. Just read an e-mail from Barclay that said they do. 

Auto rental collision damage waiver – accidents happen; breathe easier knowing you have supplemental coverage for physical damage to, or theft of, an eligible rental vehicle². Check out your Guide to Benefits for full details.

Some info from the guide -

1. What is this benefit?

   When certain terms and conditions are met, the Auto Rental Collision Damage Waiver benefit (“Auto Rental CDW”) provides—at no additional charge—reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles. In your country of residence, this benefit is supplemental to, and excess of, any valid and collectible insurance from any other source. We will reimburse only for that dam- age or theft not payable by any other party.

https://www.barclaycardus.com/app/ccsite/benefits/guide/F03-K046-3_MC_W.pdf?domainCPC=USA

Do most credit cards offer this and has anyone here had to use it?

[daybreakgonesXe]

Before I had Discover I just knew of the Signatures and World/World Elites having this benefit. Luckily I never actually had to utilize it, but I did put a car rental once on my Sapphire so that I could waive the insurance and have peace of mind in case the worst happen.

[Anonymous]

Most credit card has it because it's a VISA/Mastercard provided benefit. However, do note that most of them are secondary auto insurance. Which means they only cover what's left *after* your main insurance (if you do have your own insurance that also cover rentals, and this is the case for most major auto insurance company).

Some high end cards, such as Chase Saphire Preferres offer primary insurance for rental (which means you don't have to involve your auto insurance policy in case you need the insurance coverage). AMEX also offers it for $25 per trip (30 day max)

[masscredit]

I was a manager at a car rental company in the late '80s. The damage waiver was pushed for profit. It can help the renter but it's hardly needed. I always decline it.  I know some cards offer this coverage. I'm going to make sure that I know which of my cards (probably all of them), offer this. 

[Anonymous]

It's also important to note that no card will cover the CDW unless the rental is paid for in full by that card.

So in other words, if you are in an accident with your own car that is the fault of the other driver, and the other driver's (or even your own) insurance company covers the cost of a rental car for you, you will NOT be covered for CDW on that rental car through your credit card.

You may or may not be covered for the CDW via your own insurance company depending upom the insurance coverage you have. Best to check with your company regarding this. I had an experience where my own insurance company mentioned that their CDW coverage would not apply to the rental due to the cost of the car being picked up by the other driver's insurance company. So, having rental car coverage on my own policy was not really helpful in that situation, since it did not apply when the other company was covering the rental. Chase, Amex, and Citi also stated the same when asked about their premium card coverage -that it would not be covered under that card unless the rental were paid for on that card.

Even in situations where you pay for the rental with your premium card, there are certain exclusions that may not be covered depending on the situation, the specific contract, how the damage occurred, and several other factors. It's not as simple nor as easy as just determining whether your premium credit card has rental car CDW coverage.

Hope this helps someone.

[Anonymous]

^
That's why I always make my own rental arrangements then make them reimburse for that later.

[Anonymous]

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@Anonymous wrote:
^
That's why I always make my own rental arrangements then make them reimburse for that later.

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That's if they reimburse you. I had a rental car for almost three weeks and there was no way I was paying for that out of pocket when the other driver was at fault and was cited.

[Anonymous]

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@Anonymous wrote:


Some high end cards, such as Chase Saphire Preferres offer primary insurance for rental (which means you don't have to involve your auto insurance policy in case you need the insurance coverage). AMEX also offers it for $25 per trip (30 day max)

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These only apply if you pay for the rental in full using that card, and there are exclusions and exceptions as mentioned above.

[Exonumist]

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@Anonymous wrote:
Most credit card has it because it's a VISA/Mastercard provided benefit. However, do note that most of them are secondary auto insurance. Which means they only cover what's left *after* your main insurance (if you do have your own insurance that also cover rentals, and this is the case for most major auto insurance company).

Some high end cards, such as Chase Saphire Preferres offer primary insurance for rental (which means you don't have to involve your auto insurance policy in case you need the insurance coverage). AMEX also offers it for $25 per trip (30 day max)

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Beat me to it. Other cards with primary include Fairmont, Ink (business rentals only), Marrito Premier Business (again business rentals only), Ritz Carlton, Southwest Business (business only), Untied Business, United Mileage Plus, Citi Business AAdvantage (business only), Discover Escape, AMEX ALL but $25 per rental, Diners Club, and I'm sure more. Diners Club is the best and I fully intend to apply if they ever reopen apps. 

I've used it on my Ritz Carlton twice. Once for hail damage and once for a cracked windshield. Visa Eclaims is a PAIN to work with, but in the end if you jump through all the hoops they pay out. 

[mikelo22]

All Visa Sigs and WEMC's include this benefit I believe.  If you don't buy rental insurance, your own car insurance will cover the rental (in the US at least).  Whatever the insurance doesn't cover, including the deductible, you can get reimbursed for that cost by your Visa/Mastercard.

I've also heard anecdotally that Visa is generally much more willing to pay up on these reimbursements than Mastercard.  Not sure if accurate or not, but the one time I bought a rental, I did so with a Visa Sig.