Does Your Credit Card provide Sufficient Damage Coverage for a Rental Car?

When you go to rent a car, one of the biggest “upsells” when you go to the counter is liability insurance coverage.  What if you have a wreck in the rental?  Do you want your insurance coverage covering it or the rental company?  It does make you think.  Then you remember that your credit card might provide coverage as long as you use it.  Then they quickly put a question in your mind making you wonder if that is a good idea.

Well wonder no more!  Cardhub.com has just released their 2015 Credit Card Rental Car Insurance Study, which compares these the insurance coverage of the major credit cards.  So before you go on that trip, make sure you understand the coverage on your card.  Here are some of the key findings:

Key Findings

    • American Express and Visa have the best rental car insurance policy, followed closely by Discover.
    • All four major networks require cardholders to charge their entire rental car purchase on their credit card and decline supplemental insurance/Collision Damage Waivers offered by their rental company in order to be eligible for coverage.
    • American Express is the only network that does not provide coverage for renting certain popular SUVs – including the Suburban and Tahoe from Chevrolet, GMC Yukon, Ford Expedition, Lincoln Navigator, Toyota Land Cruiser, Lexus LX450, Range Rover, and full-sized Ford Bronco.
  • VISA and MasterCard only cover accidents on dirt and gravel roads if they are “regularly maintained.”

It always comes down to the fine print.  For more detailed information go to the 2015 Credit Card Rental Car Insurance Study

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