The basics of credit card rental car insurance
Posted in: Auto Insurance, Credit Cards
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A brief explanation of credit card car rental insurance
When you rent a car, you are given many different rental insurance options that keep claims involving your rental car from going through your personal auto policy and potentially resulting in raised rates.
But if you pay for your rental car with a major credit card, you may already have some coverage for rental car insurance.
Most major credit cards come with insurance protection for rental cars. Naturally, you must pay for the rental with the credit card you plan to use for the insurance benefits in order for the coverage to be "in-force." If you have an insurable event, simply run the claim through your credit card company.
The coverage offered by these cards may not be comprehensive, so you must compare credit cards and their car rental insurance benefits before you determine which one to use.
In addition, there may be some hard-to-get paperwork that you must supply your credit card company with to have your claims paid by them. Since you are the middle man in this situation, it could be challenging and inconvenient to do so.
Remember, before you decide to skip out on the rental company’s insurance plan, read the fine print on your credit card and make sure the coverage it provides is worth the risk of ignoring your other options.
One Response to “The basics of credit card rental car insurance”
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Priyanjali Says:
Insurance is based off the law of large #’s. Everyone puts in some money for the few people that may place a claim. I unenrstadd you may have a great driving record and don’t plan to have an accident. But that’s the meaning of an accident, no one plans to have one. I am in the United States so I am not sure if the UK operates the same way, but here its illegal to drive without insurance. If your parents are alive I don’t think they would want to risk their house. But if you own your parents house why don’t you see about getting a loan against the house to help with the insurance bills. As a side note there are insurance companies that do pay dividends if they made a profit, but none that i have ever heard of would refund you back a set amount if you were accident free.
October 18th, 2012 at 1:57 pm
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