How does Capital One Platinum car rental insurance work?

Yes, your car insurance covers rental cars, in most cases. Standard auto insurance policies cover car rentals in the U.S., up to your normal policy limits and with your regular deductible, but it’s best to check the details of your car insurance policy to make sure you’re aware of any specific rental car restrictions.... read full answer

In addition, other policies, like health or home insurance, kick in for certain situations. Your health insurance will usually cover injuries resulting from a car crash, and home or renters policies cover items stolen from a car. Also, depending on the credit card you used to rent a car, you may be able to file a claim through it, too.

When Your Car Insurance Does Not Cover Rental Cars

Although every standard car insurance company has its own criteria for covering rental cars, a few situations are commonly excluded.

• Most insurers do not cover rental cars outside of the U.S., though you can buy specialty rental car or travel insurance to fulfill another country’s insurance requirements.
• If you get into an accident, the rental car company may charge you for things that your insurance won’t pay for, like loss-of-use or administrative fees.
• Many personal car insurance policies do not cover cars rented for business reasons
• Most companies have time limits, meaning that your insurance will cover a rental car for a few weeks or a month at most.
• If you carry full coverage, your insurance will only pay for the limits established by the value of your usual car, even if the rental car is worth more.

When to Buy Additional Rental Car Insurance

• You don’t have your own car insurance policy.
• You have a personal insurance policy but want additional coverage.
• You are renting a car for business purposes.
• You are renting a car outside of the U.S.

Keep in mind that not every state requires rental car companies to automatically provide the minimum mandated insurance coverage. In California, for example, you need to carry a personal car insurance policy with liability coverage or purchase the rental car company’s additional liability coverage in order to drive legally.

To learn more, check out WalletHub’s full guide to rental car insurance.

Yes, the Visa credit card travel insurance is pretty good. It covers all Visa credit card users for damage or theft of rental cars. Some cards also provide coverage for accidents while traveling, trip cancellation and lost luggage. Plus, Visa credit card travel insurance never costs extra. You just have to pay for your travel with your Visa card to be eligible for any coverage it might have.... read full answer

The exact amount of coverage you get, the claims procedures you have to follow, and other fine print depend on the bank or credit union that issues the card. It also makes a difference whether your card is a Visa Platinum, Visa Signature or Visa Infinite (least coverage to most coverage).

Types of Visa Credit Card Travel Insurance

• Travel accident:
  Should you or dependents you’re travelling with die or get seriously disfigured due to the fault of a travel provider, this policy will reimburse you or your family. The amount of money you can get varies, but it could be as much as $500,000 with certain cards. But not all cards will have this benefit. Chase Sapphire Reserve® has the best coverage.
• Trip cancellation/interruption/delay:
  If your trip has to be ended early or moved because of things out of your control (e.g. death, injury, severe weather, military orders and more), you can get compensated for the inconvenience. Coverage might be up to $2,000 per trip, but not every card will have it. The Chase Sapphire Preferred® Card has the best coverage.
• Lost luggage:
  It’s hard to enjoy yourself on a trip if you don’t have any of your belongings. If your luggage gets lost or stolen, Visa may pay you for its value. You could get up to $3,000 per person per trip, but whether you have coverage depends on the card. Chase Sapphire Preferred has the best coverage.
• Rental car:
  Every Visa card should have this, no matter who issues it. If you rent a car with your Visa card and that car gets damaged or stolen, you can be reimbursed. But certain types of cars aren’t eligible (like expensive cars, RVs, motorcycles, and more) and certain situations aren’t either (like drunk driving). You can receive up to the full value of the rental vehicle.

If you’re in the market for a new card, there are several good offers available. Just keep in mind that the best course of action is to check your card’s terms to find out what kind of coverage it has.

Best Visa Cards for Travel Insurance

For more options, WalletHub’s editors have prepared a report on the cards with the best travel insurance to help you out.

Third-party rental car insurance covers anyone's medical expenses and property damage in the event of an accident apart from for you and the rental car. Major third-party rental car insurance companies include Allianz and Bonzah, though online travel agencies and travel insurance companies usually offer this type of coverage as well.... read full answer

Key Things to Know About Third-Party Rental Car Insurance

If you need rental car insurance, buying from a third party is normally much cheaper than buying additional coverage directly from the car rental company. Buying enough coverage is very important, too. Although the mandatory minimum liability insurance is automatically included when you rent a car in most states, this bare-bones coverage is probably not enough to protect you if you get into a serious accident.

On that note, Bonzah is the only major third-party rental car insurance company that offers supplemental liability insurance. The other insurers offer the equivalent of comprehensive and collision coverage, along with some other benefits.

Third-Party Rental Car Insurance Companies

Allianz

• What It Covers: Damage to or theft of rental car; Trip interruption; Loss, damage, or theft of personal effects; 24/7 travel assistance
• Coverage Limits: $40,000 for the rental car; $1,000 for baggage; $1,000 for trip interruption
• Deductible: $0
• Pricing: $9 a day ($7 a day for Florida residents)

Bonzah

• What It Covers: Damage due to collision, theft, vandalism, windstorm, fire, hail, flood, and any cause not in your control; Personal effects; Option to add liability coverage
• Coverage Limits: $35,000 for the rental car; $500 total for personal possessions (or $250 per item); Option of primary liability coverage (state minimum) or supplemental liability coverage up to $1 million total
• Deductible: $0
• Pricing: $7.99 a day; $14.88 extra per day for primary liability; $11.90 extra per day for supplemental liability

Insure My Rental Car

• What It Covers: Damage to or loss of rental car; Option to add coverage for personal property, flat tire expenses, misfuelling fees, towing charges, and lost key reimbursement
• Coverage Limits: $100,000 for the rental car
• Deductible: $0
• Pricing: Varies by state, but often $9.75 a day

P’teet

• What It Covers: Damage to or theft of the rental car; 24/7 travel assistance
• Coverage Limits: $40,000 for the rental car
• Deductible: $0
• Pricing: $9 a day ($7 a day for Florida residents)

Rental Cover

• What It Covers: Damage to the car due to collision, theft, or vandalism; Lost key reimbursement; Loss of use fees
• Coverage Limits: $35,000 for the rental car
• Deductible: $0
• Pricing: $12 a day

Sure

• What It Covers: Physical damage to the vehicle or personal property; Flat tire expenses, misfuelling fees, towing charges, lost key reimbursement
• Coverage Limits: $100,000 for the rental car
• Deductible: $0
• Pricing: Varies by location and driver information

Even if you have car insurance that already covers rental cars, buying coverage from a third-party rental car insurance company can keep you from paying a deductible or from driving up your rates if you need to file a claim. Frequent car renters can also buy annual rental car insurance from Insure My Rental Car and P’teet.

What to Look For When Buying Third-Party Rental Car Insurance

If you plan to buy third-party rental car insurance, be sure to check coverage options and restrictions. Third-party companies often exclude unusual vehicles like limousines or motorhomes, or the coverage may be geographically limited. The many credit cards that offer rental car insurance have similar restrictions, by the way. Some also require you to file a claim with your normal car insurance company first.

Finally, if you are looking for a wider variety of coverage for an entire trip, travel insurance companies like Generali and Travel Guard offer rental car coverage in certain packages.