Comparing credit card auto rental coverage

The insurance offered by major credit cards for car rentals varies widely from company to company, prompting CreditCard.com to compare offerings from four major companies.

All Visa and American Express cardholders are provided with a complimentary rental auto insurance policy. In addition to the free benefit policy, cardholders with American Express also have the option of upgrading to the premium insurance program.

Those holding elite cards with Discover and MasterCard are often entitled to rental auto insurance among their benefits, particularly those at the gold and platinum card levels.

The majority of plans offered by credit cards will cover cars rented for up to one month and cover damage of loss up to $50,000. The cards, however, do not always offer coverage for all types of rental vehicle. Most policies exclude exotic cars, minibuses, motorcycles, cargo vans and pickup trucks. In addition, the coverage may not extend to every country and some areas of the globe are likely to be specifically excluded by some credit card coverage. American Express, for example, does not cover cars rented in Australia, Ireland, Israel, Jamaica, Italy, or New Zealand.

Anyone planning a trip and renting a car is advised to contact the credit card’s issuing bank to determine what kind of coverage is offered for your rental. The best way to discover the details of your individual plan is through the bank rather than by contacting Visa or MasterCard.

www.mastercard.com