How does Citi Simplicity purchase protection work?

Citi credit card rental car insurance covers up to $50,000 when you pay for the entire rental with your card. You must also decline the rental agency’s insurance to be eligible for the benefit, which covers accident damage and theft. The eligible cardholder listed on the rental car agreement is covered worldwide for a maximum rental period of 31 consecutive days.… read full answer

It is worth noting that Citi only offers rental car insurance for the Costco Anywhere Visa® Card by Citi and the Costco Anywhere Visa® Business Card by Citi.

Here is what Citi credit card rental car insurance covers:

• Repair costs up to $50,000, or the cash value of the car, whichever is less.
• Motor vehicle with at least four wheels designed to be driven on public roads.
• Damage from an accident, natural disaster, vandalism, or theft.
• Reasonable towing expenses to the nearest collision repair facility.

What Citi credit card rental car insurance does NOT cover:

• Damage resulting from reckless driving or driving under the influence of drugs or alcohol.
• Rental car used as a car for hire.
• Personal injury, personal liability, or damage to third-party personal property.
• Damages to other cars or property.
• Injury to any party.

Keep in mind that Citi’s rental insurance coverage in the United States is secondary. This means if you have a car insurance policy that covers theft and damage to rental cars, the Citi benefit will cover only the amount your primary policy does not. Outside the United States, the coverage provided by this benefit is primary, even if you have another insurance policy.

To file a claim, call (866) 918-4670 as soon as possible after the incident. You can also download a claim form online. Keep in mind that you must return all requested documents within 180 days of the incident.

Citibank credit card travel insurance provides coverage for worldwide travel accidents, worldwide car rentals and more. However, Citi only offers travel insurance for the Costco Anywhere Visa® Card by Citi and the Costco Anywhere Visa® Business Card by Citi.

Here is what the Citibank credit card travel insurance covers:

• Travel Accident Insurance: It covers for death or dismemberment up to a certain amount. You just need to make sure the cost of your fare is charged to your eligible card.… read full answer
• Worldwide Auto Rental Insurance: Covers you up to $50,000, or the cash value of the car, whichever is less, for damage resulting from accidents or theft. The rental period must not be longer than 31 days and you must pay with your eligible card and decline the rental company’s collision loss/damage insurance. Coverage is secondary for domestic rentals and primary for international ones.
• Roadside assistance: Call the 24/7 hotline for services such as towing (up to five miles), tire changes, jump starts, fuel delivery, and lockout assistance (no key replacement). There’s a flat fee each time you use this.
• Travel and Emergency Assistance: If you need assistance before or during a trip, services are available 24/7 for emergency travel arrangements, travel issues, medical and legal referrals and much more.
• Damage & Theft Purchase Protection: While not traditionally thought of as travel insurance, you also get protection from damage or theft of certain items purchased with your eligible card. If the item is damaged or stolen within 120 days (90 days for NY residents) of purchase, you may benefit from repairs or reimbursement up to $1,000 or the amount paid with your card/Costco credit card reward certificate, whichever is less. You are covered up to a maximum of $50,000 per year. Coverage is primary except for NY residents for whom it is secondary.

To file a claim, call Costco at (866) 918-4670 as soon as possible or sign on to Citi’s benefits web page to download a claim for submission. Claims and requested documents must be returned within 180 days of the covered event, in most cases.

While Citibank’s travel insurance only covers the Costco Credit Card and Costco Business Credit Card, you can get a better picture of the best credit cards with travel insurance right here on WalletHub.

Visa purchase protection covers stolen or damaged items bought with an eligible Visa credit card. You are covered for 90 days following the purchase date. This benefit repairs, replaces, or reimburses eligible products up to $10,000 in coverage per claim and $50,000 per account.

It’s possible to get purchase protection (also called purchase security) on Visa consumer or … read full answerbusiness cards. But keep in mind that it’s up to the issuer to include purchase protection as part of the card’s benefits. No matter which Visa card you have, you can call the number on the back of your card to speak with a representative about your card benefits. You should also keep in mind that not all Visa cards that offer purchase protection will follow Visa’s standard policy.

Here's how Visa purchase protection works:

• Overview: Visa purchase protection reimburses items purchased with an eligible Visa credit card in case they get damage or stolen within 90 days of purchase.
• How much is covered: The typical coverage amount for Visa purchase protection is $10,000 per claim and $50,000 per account, though it can vary by card.
• What is covered: The policy will cover purchases made with an eligible Visa credit card.
• What is not covered: Some items will not be eligible for purchase protection coverage. For example, things like animals and plants, motorized vehicles, computer software, perishables, and collectible items are typically not eligible.

How to Use the Visa Purchase Protection Benefit

1. File a police report, if necessary. If the item was stolen, you’re required to file a police report within 48 hours of becoming aware of the theft. You don’t need to file a police report for damaged items that aren’t stolen.
2. File a claim with any other insurance provider. If your other forms of insurance might cover the purchase, you must file a claim with them first.
3. Contact the Benefit Administrator within 60 days of the incident. You can reach the Benefit Administrator at (888) 221-3289.
4. Submit the required claim forms within 90 days. Submit all the claim forms required by the Benefit Administrator, including any records of settlement with other insurance companies, within 90 days of the theft or damage.
5. Collect compensation. If your claim is valid, Visa purchase protection will compensate you, up to your policy maximum.

Keep in mind that exclusions and coverage limits apply to this benefit. So, make sure to check the benefits guide that came with your Visa credit card for further information.