The Costco Credit Card’s rental car insurance will cover most car rentals purchased with the card, as long as you decline any insurance offered by the rental agency. If the car is damaged or stolen, you’re covered for up to $50,000 in either repair costs or the cash value of the car (whichever turns out to be less). And because this benefit is free with the Costco Credit Card, it’s a lot cheaper than the rental car insurance offered by the rental agency.
Here's how the Costco Credit Card rental car insurance works:
When it applies: It applies to rentals of up to 31 days that were paid for with the Costco Credit Card.
What is covered: Covered issues include damage due to an accident, natural disaster, or vandalism; or theft of the vehicle. Towing expenses to the nearest collision center are also covered. The Costco Credit Card rental car insurance covers rentals worldwide. Outside of the U.S., the rental car coverage is considered primary insurance, which means it covers the car before any other insurance policy takes effect.
What is not covered: Costco Credit Card rental car insurance does not cover rentals used as a “car for hire,” rentals from peer-to-peer car sharing companies, or damage done by operating the car in a way that violates the rental agreement. It also won’t cover bodily injury expenses.
If you need to file a claim, call (866) 918-4670 as soon as possible after your rental car is damaged or stolen. You can also download a claim form online.
Costco credit card rental car insurance covers you for up to $50,000 toward the cost of repairs or the cash value of the car, whichever is less, when you pay for a rental car with the Costco Citi card and decline the rental company’s collision loss/damage insurance.
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
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.
The Costco Credit Card travel insurance coverage includes travel accident insurance and rental car insurance, among other benefits. Using the card’s travel insurance doesn’t cost extra. To be eligible to file a travel insurance claim, you’ll need to pay for your travel using your Costco Credit Card.
Types of Costco Credit Card Travel Insurance
Travel accident insurance… read full answer Covers you, your spouse, your domestic partner and/or your dependents up to $250,000 per person against death or dismemberment. The coverage applies while you are traveling on a common carrier like a plane, train, bus or boat, as long as you paid for the full fare using the card.
Rental car insurance Provides up to $50,000 per rental in reimbursement for collision damage and theft. The car must be rented entirely with the Costco Credit Card, and the cardholder must decline the optional insurance offered by the rental agency.
Roadside Assistance Dispatch Domestic coverage for dispatch services including towing, fuel delivery (up to 2 gallons), jump starts, flat tire changes (when a spare is available) and lock-out assistance (when the key is in the vehicle). You’ll be responsible for the costs of the dispatch and roadside assistance, paying a pre-negotiated price per service call.
Travel & Emergency Assistance 24/7 assistance for emergency travel arrangements, travel issues, medical and legal referrals and more.
How to file a claim:
To file a claim, call (866) 918-4670 as soon as possible to make use of the rental car insurance or within 60 days for the travel accident insurance. Citi will advise you what documents should be submitted with your claim form. Alternatively, you can visit citi.com/Costco to download a claim form for submission.
Ultimately, you have to return the claim form and all requested documents within 180 days of the incident. Citi will notify you of its decision once they have processed your claim.
Keep in mind that all types of Costco Credit Card travel insurance have a lot of fine print, so be sure to read your card’s benefits guide to see coverage exclusions.
The benefits of a Costco Credit Card range from rewards to travel insurance, along with shopping benefits such as extended warranty protection. Most importantly, the Costco Anywhere Visa® Card by Citi enables you to earn rewards on items that may already be discounted heavily. Costco routinely offers great deals, and the Costco Credit Card gives you 1 - 4% cash back on purchases. That’s what I call supercharged savings. Plus, you don’t have to pay an annual fee on top of your yearly Costco membership dues ($60+).… read full answer
Benefits of a Costco Credit Card
4% cash back on the first $7,000 spent on eligible gas purchases each year and 1% cash back thereafter.
3% cash back at restaurants and on eligible travel expenses.
2% cash back on Costco and Costco.com purchases.
1% cash back on non-bonus-category purchases.
Worldwide Travel Accident Insurance provides up to $250,000 if you or a covered family member dies or sustains certain injuries during your trip.
Damage & Theft Purchase Protection covers repairs or refunds on items purchased with a Costco Credit Card that are damaged or stolen within 120 days of the purchase date.
Extended Warranty protection adds an additional two years onto an existing manufacturer’s warranty and will cover repair or replacement costs up to $10,000 per item.
0% foreign transaction fee on purchases abroad or online through internationally-based merchants.
Worldwide Car Rental Insurance covers your rental car against theft and damage from an accident, natural disaster or vandalism when you pay with a Costco Credit Card and decline the rental company’s insurance.
Travel & Emergency Assistance provides travel support services 24/7 before and during a trip, including help with travel arrangements, medical and legal referrals, and more.
Citi Entertainment provides cardholders special access to buy tickets to certain exclusive events.
Citi Quick Lock allows you to block access to your account without having to order a new card.
And finally, as with most credit cards, you’ll have $0 liability for any unauthorized charges made on your account. As you can see, there’s a lot to like about the Costco Anywhere Visa® Card by Citi.
Costco’s business card, Costco Anywhere Visa® Business Card by Citi, has the same benefits as the consumer card, plus lost baggage protection. If you’re already a Costco member and you have excellent credit, the rewards and other benefits make it worth applying for one of these cards.
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