Best Credit Cards For Car Rental Insurance

Best Credit Cards For Car Rental Insurance

September 1, 2016         Written By Jason Steele

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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.

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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:

Capital One Venture Rewards

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As a Visa Signature card, the Capital One Venture Rewards offers a rental car collision damage waiver that is valid throughout the world, with the exception of Israel, Jamaica, the Republic of Ireland, or Northern Ireland. Coverage is valid on most vehicles including minivans and sport utility vehicles, so long as you use your card and decline the optional coverages offered by the car rental agency.

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.

The information contained within this article was accurate as of September 1, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Jason Steele

Jason Steele is a journalist that covers credit cards, travel and consumer credit. As one of the nation's leading experts in credit cards, Jason has contributed to dozens of travel and personal finance outlets including NerdWallet, Credit Karma and the Points Guy, where he serves as the Senior Points and Miles Contributor. Jason has also been widely quoted in mainstream media in outlets such as the Washington Post, the USA Today and Bloomberg Business Week. Jason is also the founder and producer of CardCon, which is the annual Conference for Credit and Credit Card Media.
View all posts by Jason Steele