Many consumers who pay the average $19/day it costs for basic coverage may think it’s the only option when insuring a rental car.What they might not know is that they may already be covered by their credit card, according to a study by Card Hub.
Rental coverage isn’t the most prominently advertised credit card perk, but it is one of the most common. Visa, Discover, and American Express are among those that cover consumers who pay for rentals using their cards.
Master Card customers have a little more work to do. According to Card Hub, the lender only offers the coverage on it’s gold, platinum, world and world elite cards. For others, MasterCard leaves the decision on whether to tack on rental coverage up to their issuing bank.
While all four credit card networks offers differ from one to the next, the generally cover collision damage, towing charges, theft of personal property, and the loss of use to the rental company.
You’ll want to check the fine print to be sure you’re sufficiently covered. For example, MasterCard won’t cover accidents that occur on a dirt road or any road that isn’t regularly maintained.
Also, not all credit cards will cover off-road vehicles or trucks. Coverage also differs if you’re travelling outside of the country.