amex rental car insurance

amex rental car insurance

Amex Rental Car Insurance

To choose or not to choose Credit Card Rental Protection? Credit card car rental insurance is always considered secondary coverage – it covers you if you don't have other car insurance or if you do not purchase insurance from the rental company. A very important thing to know is that with any credit card rental insurance, buying the coverage from the rental company will invalidate your credit card insurance coverage. You can't get coverage from both sources at once. However, if your personal car insurance has a deductible, then your credit card will cover that amount. Keep in mind, although your rented vehicle is protected, you will need AMEX Premium coverage or a separate insurance to cover possible medical expenses and damages you may cause by accident. As always, the best solution is to be careful while driving.
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Amex Rental Car Insurance

On Tuesday I had a post about using just about any VISA card to pay for your rental car to give you additional protection over and above from your normal insurance (please read that post to get some background). Today I will review choosing an AMEX card over a VISA card. In a final post this weekend, I will look at the last few options like an AMEX upgrade or a card that offers primary coverage; but for today’s post, this is just a standard AMEX card we are talking about.
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Amex Rental Car Insurance

Some final personal thoughts. What are you trying to get? Do you want your deductible covered if you have an accident? That is what I am looking for. I am not looking for extra coverage in case of damage to my stuff. I have life insurance so I don’t pay with my AMEX to protect my family if I were to die in a wreck (would they even know to check for this?)! I have never rented a car for more than two weeks, but others I know do. I love so much of what AMEX offers with Delta, but when it comes to this perk, I will NOT have “peace of mind” if I were to choose AMEX to pay for the rental.
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Amex Rental Car Insurance

On any rental of more than two days, you’ll almost certainly come out ahead with Amex vs. buying LDW from the rental company–the rental company’s coverage is charged each day, while Amex’s Premium Protection is a single fee regardless of the length of the rental.
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Amex Rental Car Insurance

I would tend to think that for most Visa and Amex cards, the rental coverage “perk” was never really designed to be a perk….or maybe it was long ago but no long is. Seems like there’s far too many hoops to jump through and too many gotchas for these to be really worth while. The best bet, in my opinion, would be a card where the rental perk is a key part of the card, not just some obscure benefit that is available on all Visa/Amex branded cards. Can’t wait for the next post on this. I don’t normally worry about this much because my company’s rental agreement provides LDW as part of the contracted rate, but I’m always looking for ways to protect myself when I head out on my own dime.
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Amex Rental Car Insurance

I once used a MasterCard for a rental and tried to get coverage for a break-in (in which only glass was broken and nothing of significant value stolen). It was torture. Hours wait on hold, short hours of operation of the call-in center, rejection, after rejection. They kept stating I needed to claim it on my own auto insurance but at the time I did not own a car and had no auto insurance. I finally gave up and paid the ridiculous overcharged that the rental car company wanted ($450 to replace a passenger window) because it was still not resolved with MasterCard after 2 months and Thrifty sent me to collections. I knew this was there plan to keep denying until I gave up. In the end I sent a letter to the state DA, BBB, and have never and will never use MasterCard again. I don’t know if Visa is better but for other purposes I have always had great customer service from Amex and why I use them for purchases of consumer items like electronics and have been using them for car rentals. I will see what happens if I never need a claim.
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Amex Rental Car Insurance

If you’re from the US and don’t own a car (or your car insurance doesn’t extend liability insurance to rental cars), you’re pretty much limited to a non-owner policy. It’s tough to find an insurance carrier that will issue these, and even if you do, chances are the insurance agent you talk to won’t be familiar with them and might not even know they exist. Some names we’ve heard mentioned in the industry are GEICO, Progressive, and Allied Insurance. An independent insurance agent may be able to shop around and help you find the best policy and rates. We’ve heard good things about New York-based Campbell Solberg, and they appear to be very familiar with non-owner policies.
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Amex Rental Car Insurance

I could really go on and on with the “got ya’s” like the fact that if your statement is past due you will not be covered but there are exceptions in some states to that. Also, you have to pay for the rental in full so don’t use say 1/2 Ultimate Rewards points and 1/2 AMEX to pay. The bottom line on these is you must read with the card you have just what your perks are and are not. This is one of the hardest parts about this post as there is no way to cover all the points as they are different over infinite circumstances. The same thing goes for Mastercard. You have to check with each card. Some have NO coverage some have similar to VISA or AMEX. So, you just have to check.
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Bottom line: If you don’t have a credit card with free primary car rental coverage, you can add this product on to any Amex card and get similar–perhaps even better–protection. And even if you do have a personal auto insurance policy, it will provide an extra measure of protection and keep your insurance company out of the loop should something happen.
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For one, it’s practically unheard of to find a credit card that includes liability coverage. Travel insurance and third-party rental car collision insurance products don’t generally offer it, either. Even American Express’s fancy Premium Car Rental Protection doesn’t touch liability, only damage to the rental car.
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American Express, however, offers premium car rental insurance that covers all of the above for $24.99 per rental period, or if you currently have personal car insurance, they may cover the damages if you get into a fender-bender with your rental car.
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Visa: Visa is often touted for its excellent rental car insurance benefits, mostly because it’s widely available for cardholders. Unlike many other networks, it offers rental car insurance on all of its cards — standard, Signature, rewards, the works. However, it limits its rental car coverage period to only 15 consecutive days domestically and 31 consecutive days abroad.
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If the above options don’t work for you or you’d like a little extra protection, you can buy an insurance policy from a third party in advance for much less than the rental companies charge for their LDW. Several companies, including well-regarded travel insurance companies like Allianz and Travelguard, sell policies for less than half of what most rental companies charge. One of our favorites, RentalCover.com, is really disrupting the overpriced car rental insurance market. Rates and policies vary by your state of residence, but you can click here to see options and get a quote.
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#2) In no event shall coverage be provided when the Card member rents a Rental Auto beyond 30 consecutive days from the same Rental Company, regardless of whether the original agreement is extended, or a new written agreement is entered into, or a new vehicle is rented. Additionally, no coverage will be provided when the Primary Renter rents a Rental Auto for more than 30 consecutive days out of a 45 day period within the same geographic market/location (75 mile radius). The PRO over VISA is you get 30 days NOT just 15 of coverage, but you can not just switch companies after the time is up. You could go Visa then AMEX then VISA I would think.
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While there’s peace of mind that comes from being super-well protected with the rental company’s LDW, you may be wasting your money. If you decline the insurance provided by the rental company, then your personal auto insurance policy will often cover you when renting. Assuming you’ve confirmed this with your insurance broker or carrier, then LDW sold by the rental company often duplicates coverage you already have in place.
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While it’s no secret that over-the-counter rental coverage is completely overpriced, it does serve a purpose. If you do have an accident, and you’ve opted for the rental company’s Loss Damage Waiver (LDW, sometimes called Collision Damage Waiver or CDW), then the car rental company will waive any repair costs if the rental car is damaged or stolen, provided the car is not driven recklessly or driven by an unauthorized driver.

Published on Jul 31, 2017 | Under Car | By michael ellis
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