How do I make the most of Chase Sapphire Reserve rental car insurance?

Yes, Chase Sapphire Reserve is worth its $550 annual fee if you spend at least $4,000 in the first 3 months and qualify for the card’s initial bonus of 60,000 points. Frequent travelers will also get a lot of value out of Chase Sapphire Reserve because it comes with a $300 annual travel credit and good ongoing rewards.... read full answer

Chase Sapphire Reserve Worth: Key Considerations

• You earn 1 - 10 points / $1 spent on purchases, including 10 points / $1 spent on select travel expenses.
• You’ll have an opportunity to earn an initial bonus of 60,000 bonus points for spending $4,000 in the first 3 months.
• Chase Ultimate Rewards Reserved points are worth 50% more than usual when you redeem them for travel through Chase Ultimate Rewards Reserved.
• There are several types of travel insurance, including a $1 million benefit for serious injury or death.
• You get a Priority Pass Select airport lounge membership that would usually cost $429 a year.
• You’ll receive a $300 travel credit each account anniversary year.

Tips for Getting the Most Out of Chase Sapphire Reserve

Chase Sapphire Reserve’s attractive features are only worth it if you travel frequently and have the excellent credit needed to get approved. You’ll also need to earn enough rewards – or utilize enough of the card’s other perks – to make it worth owning.

For example, if you make the most of the Priority Pass membership ($429 annual value), along with the $300 annual travel credit, you’d recoup the entire annual fee. That shouldn’t be hard for frequent travelers to do every year. And the more benefits you take advantage of, the less you need to spend to break even.

Finally, in order for Chase Sapphire Reserve to be worth it, it’s important to pay the bill in full each month. Otherwise, you’ll end up paying a 21.49% - 28.49% (V) interest rate on the unpaid balance, which will decrease the overall value of the card’s perks and rewards.

More moderate spenders looking for a travel rewards card without the huge annual fee should check out our editors’ picks for the best travel rewards credit cards to help narrow the search.

Yes, the Chase Sapphire Reserve Card does have travel insurance benefits, the best of which are emergency evacuation and transportation coverage and trip cancellation/interruption insurance. To be eligible to file a travel insurance claim, you’ll need to pay for your travel using your Chase Sapphire Reserve Card.

Types of Chase Sapphire Reserve Card Travel Insurance

• ... read full answerTrip delay insurance: This benefit reimburses you for necessary expenses – such as a hotel room, for example – if your trip is delayed for 6 hours or more.
• Trip cancellation/interruption insurance: This benefit covers your trip for unforeseen cancellations or for interruptions that cut your trip short. It only applies to pre-paid, non-refundable travel expenses.
• Lost/damaged baggage insurance: If your luggage is lost or stolen, you can get reimbursed for the contents of the luggage up to $3,000.
• Emergency evacuation and transportation insurance: If you become sick or injured during a trip and need to be evacuated, you can get reimbursed for the medical services and transportation costs up to $100,000.
• Travel accident insurance: This insurance covers cardholders in the event of death or dismemberment during the trip or during transit.
• Rental car insurance: This benefit covers the cardholder for damage to the rental vehicle that results from collision or theft.

Exclusions and coverage limits apply to many of these benefits, so make sure to check your Chase Sapphire Reserve Card’s guide to benefits for more details on each type of insurance.

No, Chase Sapphire Reserve does not cover U-Haul rentals. The auto rental collision damage waiver does not cover vans or trucks, the types of vehicles offered by U-Haul. It’s also good to note that U-Haul rentals don’t count as travel on the Chase Sapphire Reserve. So, you will only earn 1 point / $1 spent on rentals using the Chase Sapphire Reserve card.... read full answer

However, U-Haul does offer its own rental insurance. Also, it’s possible that your existing auto insurance policy could cover rentals, though that’s rare. Either way, it’s a good idea to get coverage, as U-Haul declares renters that decline coverage as fully responsible for all damages of rented vehicles.