Best Car Rental Insurance Coverage Credit Cards

This post will be a little more unconventional from our other reviews. Judging by our previous work, we practically compiled a Best Credit Cards list on the premise that the individual cards offered genuinely rewarding features, a sign-up bonus, the earning rates, etc. Taking this approach, I feel that we have deliberately skipped over the insurance benefit aspect of the said individual cards. More specifically, Car Rental Insurance, so this post would be a compilation of the “Best Car Rental Insurance Coverage Credit Cards” to date. Definitely would save you the time and hassle if utilized properly.

Primary & Secondary Coverage:

With Car Rental Insurance, you can expect the terminology “Collision Damage Waiver” or “Loss Damage Waiver” to be applicable. They’re practically the similar, just that CDW is limited to Collision factors. One particular thing I want to note before I go in-depth with this article is that these typically come with some type of deductible and there’s a good possibility that your entire loss of a vehicle will not be fully covered, nor the administrative fees attached.

In context with Secondary Coverage, if you’re in an accident with a rental car that you’ve paid for utilizing a card that offers Secondary Coverage, it’ll kick in AFTER your own personal car insurance has come through. That means, you’d still need to file a claim with your own insurance company.

On the other hand, Primary Coverage will be applicable before your own personal car insurance and cover damages to either collision or theft of most vehicles (there are restrictions that we’ll address below). Note that there’s generally a maximum in which they will cover in terms of cost. Practically, this is your cheaper car insurance that really could come in handy on the road.

Facts:

1. Does not cover Liability Insurance
2. They do not cover every type of car; your semi-trucks, motorcycles, etc., are not eligible. Try to stick with a small compact car
3. Not available in every country
4. If you need a car rental for months on end, then there’s a possibility you won’t be covered.

The Chase Sapphire Reserve offers Primary Coverage CDW with rentals being up to 31 consecutive days paid for. Card covers for general losses; physical damage and/or theft of the rental vehicle, as well as valid loss-of-use charges, towing charges related to that set covered loss. Auto Rental CDW is primary coverage and provides reimbursement up to seventy five thousand ($75,000.00) dollars.

Editor’s Note: Get your hands on the new Chase Sapphire Reserve and you can reward yourself with an attractive 50,000 Chase Ultimate Rewards Points Bonus when you make a spend of $4,000 or more within a given first three months of account opening. Coverage excludes antique vehicles. Be sure to read the Chase Sapphire Reserve Benefits Guide for more details.

Chase Sapphire Reserve Card Summary:

• Learn More
• Maximum Bonus: 50,000 UR Points
• Spending Requirement: You must spend $4,000 on purchases in the first 3 months from account opening
• Annual Fee: $450, not waived for the first year
• Bonus Worth: The 50K points alone is worth $750 towards airfare/hotel.

The Chase Sapphire Preferred® Card is practically provides the same insurance benefits as it’s big-bro Reserve variant that the card does off Primary Coverage for up to 31 consecutive days. Again loss can be accounted for regarding physical damage towards the car rental and/or theft. Some inclusions would be loss-of-use charges, or towing charges. The key difference from the Reserve is that there’s no terminology of a set maximum that the Auto CDW covers. This may insinuate a lesser maximum on the preferred that the CDW is willing to cover. Exclusions include expensive, exotic, and antique automobiles. Be sure to read the Chase Sapphire Preferred Benefits Guide for more details.

Editor’s Note: Sign up bonus of 50,000 Chase Ultimate Rewards points with $4,000 minimum spend within the first 3 months of account opening

Chase Sapphire Preferred Card Summary:

• Learn More
• Maximum Bonus: 50,000 bonus points + Additional 5,000 points
• Spending Requirement: You must spend $4,000 on purchases in the first 3 months from account opening, and add an authorized user (no annual fee) within the first 3 months and they make a purchase.
• Annual Fee: $0 introductory annual fee for the first year ($95 thereafter)
• Bonus Worth: The 50K points alone is worth $625 towards airfare/hotel.

Primary coverage is offered on the Ink Preferred Business Credit Card from Chase Bank. Generally, coverage would work on anything that’s not a sports cars, trucks and off-road vehicles, and locations excluding Ireland, Israel and Jamaica. Coverage issues reimbursement up to the cash value of the vehicle for physical damage and/or theft. Cardholders must be driving for business to get the said coverage, so you’d need to provide proof of some sort to get your claim approved.

Editor’s Note: You’ll be able to earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.

Ink Preferred Business Credit Card Summary:

• Apply Now
• Maximum Bonus: 80,000 bonus points
• Spending Requirement: You must spend $5,000 on purchases in the first 3 months from account opening.
• Annual Fee: $95
• Bonus Worth: When you redeem the 80K bonus points through Chase Ultimate Rewards, this bonus ends up being worth $1200 toward travel. But if you redeem the 80K bonus points for gift cards or statement credit, the bonus points are worth approximately $800.

The Ink Cash Business from Chase Bank offers the same terminology Auto Rental CDW as the Ink Preferred Business, that means exclusions do apply with the locations of Ireland, Israel and Jamaica and coverage not including sports cars, trucks and off-road vehicles. Coverage will be covering up to the actual cash value of the vehicle in cases of theft or collision. Again, you must be driving for business, otherwise, you will not be approved for coverage.

Some key benefits attached to this card would be the 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. On top of that, 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.

Editor’s Note: $300 Bonus if you spend $3,000 on purchase in the first 3 months of account opening.

Ink Cash Business Credit Card Summary:

• Learn More
• Maximum Bonus: $300 bonus
• Spending Requirement: You must spend $3,000 on purchases in the first 3 months from account opening.
• Annual Fee: $0
• Bonus Worth: This bonus is worth $300; 30,000 Ultimate Rewards bonus
• Expiration Date: No expiration
• Additional Advice: If you find yourself reaching the 25,000 limit too often, you can maximize your earning of Chase Ultimate Rewards points by making qualifying 5x and 2x purchases on your Ink cards, while putting other spending on your Chase Sapphire Preferred Card/Chase Sapphire Reserve in its bonus earning categories, and other cards that will help your earn rewards.

The Ritz-Carlton Rewards VISA Infinite Credit Card offers Primary Coverage and like the Sapphire Preferred® or Sapphire Reserve Card, you’d have to charge the entire rental cost on the card and decline the rental company’s collision insurance. Like the Reserve, you will be covered up to $75,000 for both theft and collision cases in the US and internationally.

Just a refresher, but this card earns you 2 Complimentary Nights, earn 5 points per $1 spent at Ritz-Carlton & partner hotel stays and 2x points on travel & restaurants. Don’t forget the $300 airline credit (incidentals only however).

The Ritz-Carlton Rewards Credit Card Summary:

• Maximum Bonus: 2 complimentary nights
• Spending Requirement:  Must spend $5,000 within first 3 months
• Annual Fee: $450
• Bonus Worth: Roughly $1000
• Expiration Date: None
• Additional Advice: Your points can be redeemed for room upgrades, hotel stays, etc or converted into airline miles transferable to 33 airline partners.

All four of the United Mileage brand cards offer primary coverage and here’s what you should expect: You will be covered up to the actual value of the vehicle, as it was originally manufactured, if you charge your United MileagePlus® Explorer Card or any United Mileage cards on the rental and decline the rental companies coverage.

Remember that the United MileagePlus Explorer earns you 2x miles on all tickets purchases from United on top of your first checked bag free, priority boarding, 2 United Club passes each year, and even an anniversary bonus up to 10,000 Bonus Miles!

Editor’s Note: When you sign up for a United MileagePlus® Explorer Card you can earn yourself a attractive 50,000 bonus miles after you spend $3,000 on purchases in the first 3 months of account activation.

United MileagePlus Explorer Summary:

• Apply Now
• Maximum Bonus: 50,000 United Miles + $50 SC
• Spending Requirement:
  • Spend $3,000 on purchases in the first 3 months of account activation
  • Make first purchase in the first 3 months of account activation
• Annual Fee: $95 is not waived the first year
• Bonus Worth: The 50,000 Bonus Points is worth $750 redeemed towards United Travel.

Conclusion:

Given our list of “Best Car Rental Insurance Coverage Credit Cards,” we hope that you can grab a feel for the most useful credit cards with not only rewarding features, but life-saving insurance benefits as well. Whether your rental went through a theft or collision accident, it’s a step of reassurance that you’ll be covered for such an incident. Note that there’s typically a deductible applicable and there’s a chance that you won’t get the entire loss of the car fully covered. Also, if you have a business card and you put a rental car on the card, make sure you are able to back up that you’re using the rental for business practices. If you have any cards you think would belong on this post or you’re looking for more, then check out our complete list of Credit Card Promotions today!