How does Amex Platinum travel insurance work?

Amex Platinum car rental insurance covers cardholders for up to $75,000 in collision damage and theft for vehicles rented with the Amex Platinum credit card or American Express rewards points. To get Amex Platinum car rental insurance coverage, you must decline the rental agency’s supplemental insurance policy. To make a Platinum Card rental car insurance claim, call 1-800-338-1670 within 30 days of a covered incident.… read full answer

There are a few exceptions you should be aware of, though. And there are more details about the process you’ll need to follow to actually get your money. You can find the key points below.

Amex Platinum Car Rental Insurance Info:

• You’re covered up to $75,000 per claim for collision damage or theft.
• You must pay for the entire rental with your Amex Platinum card or rewards points.
• You must decline the rental agency’s insurance policy.
• The following types of vehicles are not covered by Amex Platinum rental car insurance: Cargo vans, vans that carry 9+ people, box trucks, trucks that weight 10k+ lbs., modified vehicles (except for handicapped accessibility), antiques, limos, off-road vehicles, motorcycles/motorbikes/mopeds, RVs, golf carts, and a few others.
• The following situations and types of damage are not covered by Amex Platinum rental insurance: Manufacturing defects, wear and tear, damage from illegal activities, accidents caused by driver’s intoxication, seizure by authorities, damage by war, and a few others.
• To make an Amex Platinum rental car insurance claim, call 1-800-338-1670 within 30 days of the incident. You can also call 1-216-617-2500 collect from abroad. Amex will then mail you instructions for what to do next. You’ll have 60 days to return any proof they request, which may include damage estimates, police reports, etc.

Amex Platinum rental car insurance will reimburse you within 90 days of American Express receiving your proof of the incident. Before you rent a car with your Amex Platinum card, you should take some time to read through the benefits guide. It will give you the full information.

The biggest American Express Platinum travel benefits are a 60,000-mile initial bonus, complimentary Gold Status in the Hilton Honors and Starwood Preferred Guest loyalty programs, a $200 annual airline credit, and 5 points per $1 spent on flights and hotels booked through American Express Travel. There’s also a monthly Uber credit, no foreign transaction fee, baggage and travel insurance, and premium roadside assistance.… read full answer

Amex Platinum is a charge card, which means you’ll have to pay the balance in full every month. Plus it has a $550 annual fee. So you need to make sure you’ll get your money’s worth from its travel perks before you apply.

Here is a rundown of the American Express Platinum travel benefits:

• Annual Airline Credit

$200 in credits per year for baggage fees, in-flight meals and other airline incidentals. You can’t use the credit for airfare, gift cards, upgrades, duty–free purchases or award tickets.

• Credits for Uber Rides

Up to$15 in credits for Uber rides each month, plus a bonus $20 in December ($35 total). The credits expire at the end of each month.

• Complimentary Hotel Status

Cardholders can join Hilton Honors and SPG as Gold-level members for free. Members get complimentary room upgrades and more opportunities to earn free nights.

• Initial Bonus Miles

60,000 bonus points when you spend $5,000 in your first three months. Points are redeemable for around $500 in travel-related purchases, merchandise or gift cards. Points do not expire as long as the account remains open.

• Reward Points for Travel Purchases

Earn 5 points for every $1 spent on travel purchases booked through AmexTravel.com. Earn 1 point for every $1 spent on all other purchases.

• Global Entry or TSA PreCheck Credit

Credit for the $100 Global Entry application fee or the $85 TSA PreCheck application fee, once every four years. Both services expedite re-entry into the U.S. when traveling abroad. Cardholder eligible for statement credit every four years.

• Baggage Insurance

Pays replacement costs for carry-on baggage, up to $3,000 per covered person per covered trip. Pays up to $2,000 for checked baggage.

• Car Rental Insurance

Covers eligible rental vehicles for up to 30 days against damage and theft up to a maximum of $50,000. Does not cover intoxicated/reckless driving, damage to other vehicles or injuries to people in other vehicles.

• Travel Accident Insurance

Covers you and your family for accidental death or dismemberment while traveling on a common carrier (plane, train, boat or bus), up to $100,000 per person.

• Premium Roadside Assistance

Gives free service to the cardholder 4 times annually. Includes towing up to 10 miles, winching, jump starts, tire changes if you have a spare, lockout service, and 2-gallon fuel delivery. You owe any extra cost for towing more than 10 miles or additional services.

Despite all of American Express Platinum’s travel perks, the $550 annual fee might still be too much. There are some other good options, fortunately. One is Chase Sapphire Preferred. You’ll earn 50,000 bonus points when you spend $4,000 in your first three months. That’s worth $625 when redeemed for travel. And the $95 annual fee is waived the first year.

The higher-end Sapphire Reserve Card is Platinum’s closest competitor. It shares most of the same features as Sapphire Preferred, but has an initial bonus worth $750 in travel. It also has a $300 annual travel credit and a $450 annual fee.