If you have your own auto insurance at home, it may also extend to liability when driving a rental car in the United States. This coverage could prove inadequate, so it is worth considering upgrading. In Mexico, liability coverage is also required to be included in the price of the rental, but with a maximum limit of $50,000 pesos (around $2,700 USD) in property coverage and $100,000 pesos (around $5,300 USD) in personal injury protection. This coverage is typically adequate to cover the damage that might be caused in an accident. In most of Europe, liability coverage is required by law to be included in the price of the rental. It’s worth considering carefully whether you need this coverage. This can be an expensive proposition, as coverage can cost on average $8 to $20 per day. Most rental car companies offer the ability to purchase add-on liability coverage, charged at a daily rate. You may have access to liability coverage through the rental car company or through your home auto insurance policy. There is no credit card that we know of that offers liability coverage for rental cars. If you are judged to be at fault for an accident, you could be responsible for medical expenses for both your own passengers, passengers in another vehicle, damage to other vehicles and property damage. These policies are typically much more robust than anything available through your credit card, with higher limits on the cost the insurance will pay and a broader range of conditions covered. through a separate travel insurance policy).Įven if you have the Chase Sapphire Reserve®, you may still want to purchase private travel insurance that covers medical expenses. This coverage only applies as excess above any other insurance you may have (e.g. For example, The Chase Sapphire Reserve®’s Emergency Medical and Dental Benefit offers up to $2,500 in coverage, though this could prove inadequate if you do not have other insurance. This type of benefit is less common, and will likely be found in mid range and premium cards. If you find yourself in the hospital after a severe accident, you could require coverage for your medical expenses or risk having to pay out of pocket. It does not cover medical or liability coverage. It is important to understand that the CDW only covers physical damage to the rental car. The details are worth checking before relying on your card for insurance. It will usually exclude certain types of vehicles, and coverage may vary by country. This credit card benefit typically provides coverage for damage to a rental car up to a certain amount.
Many credit cards offer a replacement for the rental company’s CDW, and it is the most common type of rental benefit provided by credit cards. This can include a scratch on the bumper, damage caused during a break-in or a more serious accident, regardless of who is at fault. The Collision Damage Waiver (CDW) is a form of insurance that covers damage to the rental car while it is in your possession. Of these four types, the Collision Damage Waiver is most commonly offered as a credit card benefit. Personal Effects Coverage deals with any property stolen from your rental car.
This could include medical expenses for your or another vehicle’s passengers, damages to another vehicle, or damage to property.
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