Does Slate Edge Card offer rental car insurance?

Yes, the vast majority of Chase credit cards cover rental car insurance; most of its co-branded credit cards don’t offer this benefit. Chase credit cards’ rental car insurance covers rented vehicles against damage and theft, up to the vehicle’s entire cash value. To get the coverage, you must decline the rental agency’s insurance and pay for the rental entirely with Chase credit card.... read full answer

Rental car insurance is provided by both cash-oriented cards like Chase Freedom Flex℠ and Chase Freedom Unlimited® and travel-based cards like the Chase Sapphire Preferred® Card and Chase Sapphire Reserve®.

Here’s how Chase credit card rental car insurance works:

1. When it applies: Rentals of up to 31 days paid for with a Chase credit card or Chase rewards. There are a few vehicle exclusions (e.g. no large vans, trucks, antique cars, limos, etc.).
2. Additional requirement: You must decline any insurance that the rental car company offers you.
3. Coverage value: If your rental car is damaged or stolen, Chase may reimburse you for as much as the vehicle’s cash value.
4. Non-covered situations: Intoxication, driving off road, and traveling to a warzone, among others.
5. How to file a claim: Call Chase at (888) 320-9656, tell them what happened and ask for a claim form within 60 days. Within 100 days of the incident, return the completed claim form along with any proof that Chase requests (e.g. damage estimates, police reports, etc.).
6. Reimbursement: Chase will evaluate your claim. If it’s approved, Chase will send you a check within approximately 15 days of reaching their decision.

Chase credit card rental car insurance coverage is very good, with Chase Sapphire Reserve ranking 1^st overall in WalletHub’s Credit Card Rental Car Insurance Study, while the rest of the cards ranking 3^rd. Chase’s policy earned a score of 95.5%, losing points only for how clearly exclusions are disclosed to consumers and how accessible policy information is generally. But Chase cards got full marks in all other categories. That includes coverage duration (up to 31 days), country exclusions (none), coverage for loss of use or towing, and the claims process.

Look up for the specifics:

It’s important to be aware of the specifics, particularly what types of cars and situations are covered as well as how claims are processed. For example, coverage is secondary to any existing personal auto policy for rentals in the U.S. That means customers must make a claim through that policy first. But abroad, the insurance is primary, meaning any damage to the vehicle will be processed through the credit card insurance first.

So, rest assured, almost all Chase cards have rental car insurance. But still make sure to read the card’s benefits guide to know what’s included and what’s not.

No, you do not need insurance to rent a car because rental companies have their own insurance. Rental car companies usually provide minimum liability coverage only, so if you don’t have personal insurance, you’ll probably want to purchase extra rental car insurance through the rental company. If your personal car is insured and you pay for your rental with a credit card, you can probably skip the optional coverage offered at the rental counter.... read full answer

Coverage Offered by Rental Car Companies

• Collision Damage Waiver:

Covers: Damage to the rental car in an accident

Similar to: Collision and comprehensive

• Supplemental Liability

Covers: Damage and injuries to the other driver from an accident you cause

Similar to: Bodily injury and property damage liability

• Personal Accident

Covers: Medical costs for injuries to you and your passengers

Similar to: Personal injury protection, MedPay and health insurance

• Personal Effects

Covers: Personal items stolen out of the rental car

Similar to: Homeowner’s or renter’s insurance

You don’t have to purchase all of these coverage types to be protected while driving your rental. But minimum liability insurance carried by the rental car company isn’t enough protection if you get into an accident.

When You Don't Need The Rental Company's Insurance

Before you buy the rental company’s insurance, you should consider what coverage you may already have through your personal car insurance. The coverage limits and deductibles you have on your personal vehicle typically still apply to rentals, as long as you’re renting for personal use. Many major credit cards also offer coverage for rental cars if you pay with your card and decline the collision damage waiver offered by the rental company.

Rental car liability insurance is coverage that pays for injuries or property damage that you cause in an accident when you are driving a rental car. Rental car liability insurance does not protect you or your rental car from collision damage, car theft, loss of personal effects, or injuries.

Should You Get Rental Car Liability Insurance?... read full answer

In most states, some rental car liability insurance is included with the rental. However, the state-mandated minimum insurance that these cars carry might not be enough to protect you from the financial repercussions of an accident. Because of this minimal coverage, rental companies sell supplemental liability insurance at the counter. Rental car companies also offer other types of coverage like loss damage waivers, roadside assistance, and personal accident insurance.

You might already have rental car insurance through your current insurance coverage or your credit card, however. Your current auto insurance policy likely extends its liability coverage to rental cars, whereas credit cards often provide the equivalent of comprehensive or collision coverage but no liability coverage.

When Your Standard Insurance Covers Rental Cars

• You have personal auto insurance
• Your personal liability coverage limits are equal to or higher than the limits required for the vehicle that you're renting
• You're only using the rental car for personal reasons, not business-related
• You're only traveling inside the United States
• You have homeowners or renter's insurance

When Your Credit Card Covers Rental Cars

Some credit cards, including many travel rewards cards, provide rental car insurance if you use the card to pay. Here are some key things to know about how credit cards cover rentals:

• Certain cards provide primary coverage, which means you don’t have to file a claim with your insurance company before you file with the card company.
• Certain cards offer secondary coverage, meaning they pay only after your insurance company has reached its limits.
• Most cards only cover damage to the rental car, not damage to other people’s property, your property, or anyone’s injuries. So be sure to check with your credit card company to see if – and what type of – rental car insurance is included.

Getting Rental Car Liability From the Rental Company

If you do not have a personal car insurance policy and your credit card doesn’t cover you, you can purchase supplemental liability insurance from the rental car company. However, this can quickly get expensive, especially since liability insurance for the rental car is sold separately from other coverage.

If you rent cars frequently, it might be more efficient to buy rental car liability insurance from another source. For instance, travel insurance companies offer rental car liability insurance, often at lower prices. You can also buy a non-owner car insurance policy, which offers liability coverage. Another option is to compare credit cards that covers rental cars