kelso 1600 wrote:
You might want to double check that the credit card company handles
the entire claim.
I had an accident with a rental card and American Express paid my
deductible; my insurance company paid the rest.
That observation is correct - for most credit cards the coverage is
"excess"; any other coverage that you may have is primary (e.g.
personal or corporate auto insurance).
As a city dweller who doesn't own a car, it was necessary for me to
provide a notarized statement when I was hit while at a standstill on
the expressway a couple of years ago. In that case, the card's
insurer covered all of the $12K+ in damaages.
···
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Anyone who elects to forego the CDW purchase at the rental counter
should carefully familiarize themselves with the specifics of the
credit card benefit. Here are links to the standard VISA and AMEX
Green statement of benefits.
VISA - Personal: Rental CDW
http://usa.visa.com/personal/cards/benefits/bft_dmg_waiver_personal.html
AMEX Green: Rental Loss and Damage
https://yourcarrentalclaim.com/claimsearch/documents/Green.pdf
In the case of the VISA coverage, I've seen instances where specific
card language differs. E.g., some cards extend the car value that
they'll cover; others exclude "loss of use" charges from coverage.
It's worth your while to refer to the Statement of Benefits you
receive with your card along with periodic updates -- or to request an
updated copy should you not have it at hand. This is particularly
important if you plan to rent outside the US.
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Another rental coverage that is discussed less often than CDW is
liability. It presents a risk that may run much greater than a rental
collision.
If you have reasonable assets that could be tapped by someone else who
holds you at fault for their loss in an accident (home equity, e.g.),
then you want to ensure that either your auto or homeowners insurance
provides adequate protection. Adding an appropriate rider to your
coverage may be necessary.
- Harry