Mastercard rental car insurance covers physical damage or theft of an eligible rental vehicle, as well as loss-of-use charges, towing costs and late drop-off charges. Typically, Mastercard car rental insurance covers up to $50,000 or the price of the vehicle. To be eligible for this coverage, charge the entire car rental bill to your covered Mastercard credit card when you make the reservation and reject the insurance offered by the rental agency. The rental must also be made in your name.
Keep in mind that not all Mastercard credit cards have car rental insurance, and those that have it may not all provide the same coverage. Coverage and availability of secondary credit card benefits are up to the card issuer. It also depends on which tier of Mastercard you have – Standard, World, or World Elite. So, it’s important to review the benefits guide that came with your Mastercard for exact details.
There are some common exclusions to the Mastercard rental car coverage, too. Expensive, exotic, sport utility, or antique automobiles are generally not covered, and some card issuers, such as Citibank and Capital One, exclude trucks of any kind from coverage. Also, if your rental agreement is longer than 15 consecutive days, it’s usually not covered by Mastercard insurance – though some Mastercards cover rentals up to 30 days. Don’t forget that Mastercard car rental insurance is secondary insurance, either. That means it kicks in after your regular car insurance coverage and any other coverage you may have.
To submit a Mastercard car rental insurance claim, call the number in the benefits guide that came with your card within 30, 60, or 90 days of the incident, depending on your Mastercard’s terms. Then, within a certain number of days of the incident, you must submit all requested documentation, which may include a completed and signed claim form, the rental receipt, the credit card statement showing the rental charge, your car insurance declarations page, a police report (if applicable), an itemized repair estimate, and a copy of your driver’s license.