Best Credit Cards For Car Rental Insurance
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One of the most valuable benefits that credit cards offer is car rental insurance. Without this benefit, travelers would be forced to either rely on a personal automobile insurance policy they might have or purchase costly insurance from the rental car company. At $15 to $30 per day, these optional policies are the equivalent of paying $5,000 to $10,000 a year for insurance, often just to rent an economy car that’s not worth much more than that.
Fortunately, rental car insurance is included with most credit cards at no additional cost. To use this insurance, you must simply pay with your credit card and decline the optional insurance offered by rental car companies. In addition, you must comply with the terms of the policy that comes with your card. For example, many credit cards that offer rental car insurance exclude vehicles rented from certain countries. In addition, all rental car insurance will exclude certain types of vehicles, such as exotic cars, race cars, commercial vehicles and antiques.
Another distinction that is important to understand is primary versus secondary insurance. With primary insurance, you must submit a claim to your personal insurance first, and your credit card will only cover what remains. But with primary rental car insurance, your credit card’s policy will cover damages first.
Here is one of the best credit cards that offers rental car insurance:
In addition, new cardholders receive 40,000 bonus miles after using their card to spend $3,000 within three months of account opening, and two miles per dollar spent on all purchases. Miles are worth one cent each as statement credits toward travel purchases including airfare, hotels, car rentals, and cruises. There is a $59 annual fee for this card that is waived the first year, and no foreign transaction fees.