Credit Card Feature: Car Rental Insurance Cover

Car rental insurance can add a lot of cost to your budget. You might not realise that you can also get coverage from your credit card company. This cover is usually much cheaper but just as dependable as that offered by the car rental company.

Car rental insurance is confusing. You know how it feels when you get to the counter and the clerk starts asking you about your current auto insurance and about what extra coverage you need. They offer all kinds of different insurance upgrades to cover the vehicle. Things like collision damage waivers, loss damage waivers, and personal accident insurance are just a few of the titles they throw at you in an effort to get you to upgrade to their insurance coverage. You might be tempted to just decline the coverage and cross your fingers that nothing bad happens while you have a rental car.

The fact of the matter is that bad things do happen. When they do you will probably wish you had car rental insurance. You might be sadly surprised to find out that your personal auto cover does not provide enough coverage for the costs of a rental car incident. In this unfortunate situation you stand liable for significant costs to pay for damage to the vehicle, personal property, and even injuries. These costs could end up in the thousands of dollars range if not more. One of the options you might not be aware of is optional rental car insurance that is offered by your credit card. ANZ has an excellent program that makes it a little less stressful to rent a car. The insurance reduces your out of pocket expense to a maximum of $350 for damage to the vehicle. If you have an ANZ credit card all you have to do is call them to ask about the program. The annual fee is only $24, far less then those upgraded insurance programs that the rental car companies offer.

• Not all card companies offer this insurance to every customers. You should check with your credit company to see if you qualify.
• Be sure to understand all of the terms of a car rental insurance policy before you depend on it to cover you in the case of an accident.
• If you rent a car for more then 30 days it is unlikely to be covered by credit card car rental insurance.
• The cover will have limits usually $50,000 for this insurance.
• In order to use the insurance you have to charge the entire rental to your insurance providing credit card.
• Any claims must be made within 45 days of your incident or your will lose your coverage.

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