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Sure, most bank cards provide rental car insurance: CardRatings explains the insurance choices [Dec 08, 2021] – marketscreener.com

Most major credit cards offer rental car coverage, but when is it a good idea to use them?

Foster City, California – December 8, 2021 – When renting a car, consumers are usually offered additional insurance that covers the rental period. In its new resource, CardRatings.com, a leading credit card comparison site, explains when or if it is necessary to purchase this additional coverage, and most importantly, when the lesser-known credit card rental insurance option might offer the best value: Does rental rental insurance cover?

"Sure, the boldly advertised credit card benefits and rewards get the most attention, but don't underestimate the power of the" fine print "features to save money and provide protection," said Brooklyn Lowery, editor-in-chief and credit card analyst at CardRatings.com. "Most major credit cards provide some form of car rental insurance that can make car rental sales at an unnecessary cost."

Drivers should understand three important terms related to rental car insurance:

  • Primary insurance – For most, this would be the driver's private car insurance
  • Second insurance – If the primary insurance is exhausted, this takes effect. For example, it can cover the deductible from primary insurance
  • Fully comprehensive insurance (CDW) – Also known as a Loss Damage Waiver (LDW), this is offered by many car rental companies and only covers damage to the rental vehicle; it does not cover any personal injury or damage to property other than the rental vehicle

Most major credit card networks offer some form of car rental insurance, but the specifics of coverage differ.

Ashlee Tilford, Editor-in-Chief of CarInsurance.com states that "the coverage offered by car rental companies is considered primary as it does not require the driver to have separate personal car insurance." In many cases, the driver of the rental car would be covered by primary or secondary insurance simply by paying for the rental with a credit card.

The CardRatings resource explores how this type of insurance works when using a credit card and how drivers can be prepared for decisions before reaching the rental car counter to avoid confusion, uncertainty, and spontaneous decisions.

"There are a variety of restrictions and exclusions on using a credit card for rental car insurance," added Lowery. "These include the types of cars that can be rented, the road conditions, the duration of the rental and the country in which the rental takes place."

The article also provides a checklist for travelers before renting a car, as well as a "warning" to the uninsured. Note: Not being insured is a bad idea, and credit card coverage alone may not be the best option if you do.

About CardRatings

CardRatings is owned and operated by QuinStreet, Inc. (Nasdaq: QNST), a leading provider of performance marketplace technology and services to the financial and household services industries. QuinStreet is a pioneer in providing online marketplace solutions to match searchers with brands in digital media. The company is committed to providing consumers with the information and tools they need to research, find and select the products and brands that suit their needs. CardRatings is a member of the QuinStreet Research and Publishing Expert Department.

CardRatings has innovated online credit card ratings and has been providing independent ratings and reviews of credit card offers since 1998. The website collects and maintains information on more than 700 credit card offers and carefully compiles objective lists of the top credit cards by card type. Consumers can easily find the right card for their needs. Register here for the bi-monthly newsletter.

Twitter: @CardRatings
Facebook: facebook.com/CardRatings

Media contact

Charlene Arsenault
Media contact specialist
508-832-8918
carsenault@quinstreet.com
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