Are you a proud Visa Signature cardholder, who is wondering about your car rental insurance benefits? Look no further!
In this guide, we'll break down everything you need to know about your Visa Signature car rental insurance. From what it covers, to how to use it, and everything in between.
So, buckle up (pun intended) and get ready to learn all about your car rental insurance perks. Let's go!
Note: This guide is written for a US-based audience. Visa Signature cardholder benefits may vary in other countries. Nothing in this guide should be taken as insurance advice and is intended to be informational only. Please do your research to make sure this benefit covers your insurance needs.
With a Visa Signature card, you get built-in Auto Rental Coverage that covers physical damage, theft, reasonable towing and loss-of-use charges.
This benefit is called an “Auto Rental Collision Damage Waiver”.
Note that each Visa Signature card issuer will have their own terms and conditions for this benefit.
Some of the key things that may vary been issuers include:
Visa set out terms and conditions on their own website, which is what this guide is based on. We understand these terms to be the ‘minimum’ that must be offered by all card issuers.
If you don’t have a Visa Signature yet, it is worth researching what is called the “Guide to Benefits” for the card you’re interested in applying for, particularly if this is one of the key perks that you want.
In summary, here’s what the Visa Signature Auto Rental Collision Damage Waiver will cover:
The Damage Waiver does not:
Not all vehicles are covered by your Visa Signature Auto Rental Collision Damage Waiver.
Exotic and antique cars, cargo vans, motorcycles, and recreational vehicles are not included.
However, select models of popular car brands like BMW, Mercedes-Benz, and Range Rover are covered.
If you have any questions about a specific vehicle, you can call your card issuer.
Getting the most out of your Visa Signature card's Auto Rental Collision Damage Waiver benefit is easy:
The benefit is available in the United States (of course), and most other countries, with the exception of Israel, Jamaica, the Republic of Ireland or Northern Ireland.
Auto Rental Collision Damage Waiver provides coverage for theft, damage, and related charges such as loss-of-use, administrative fees, and towing charges if the rental vehicle is stolen or damaged.
If you already have personal automobile insurance or other insurance that covers theft or damage, the Auto Rental Collision Damage Waiver will reimburse you for your deductible and any other unreimbursed charges imposed by the car rental company.
If you don't have personal automobile insurance, the benefit will cover the theft, damage, and related charges for you.
If you're renting a car outside of the US, the coverage provided by the Auto Rental Collision Damage Waiver is considered primary and will cover the theft, damage, and related charges for you, irrespective of what your personal insurance may cover you for back home.
Here are the most common exclusions for the Visa Signature Auto Rental Collision Damage Waiver:
Please note that this is not an exhaustive list of exclusions, and for a full list, you can refer to the official terms and conditions.
If an accident occurs or your rental car is stolen, you’ll need to call your card issuer’s “Benefit Administrator” as soon as possible.
The “Guide to Benefits” for your card should list the number you need to call - it’s not the same for all.
Report the incident immediately after it occurs, as the Benefit Administrator reserves the right to deny claims with charges incurred before notification.
Reports must be received at a minimum no later than 45 days from the date of the incident. Some issuers have a greater claim period, but we recommend you don’t wait.
For faster claiming, you can also complete a form online.
Your claim will typically be finalized within 15 days after the Benefit Administrator has received all required documentation (see below).
To file a claim, you’ll need to gather and submit the following information and documents:
Note: You must postmark the claim form at least 90 days of the theft or damage date, even if other required documentation is not yet available. Again, some card issuers have offered a more generous timeframe, but don’t take liberty and just get it done.
When you rent a car with your eligible Visa Signature credit card, you're automatically covered by the Auto Rental Collision Damage Waiver benefit.
With this protection, you'll have peace of mind on the road and know that you're covered in case of an accident or theft.
Just remember to always report the incident to your card issuer’s Benefit Administrator as soon as possible and provide the required documentation to file a claim.
Daniel can often be found in airport lounges when travelling with a coffee and something sweet.
