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American Express Gold Card Rental Car Insurance

American Express Gold Credit Card offers car rental insurance in the form of an Auto Rental Collision Damage Waiver. This secondary coverage is designed to cover the cost of your insurance deductible in case of a claim involving loss or theft of the vehicle or, damage to the vehicle.

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TABLE OF CONTENTS

Do you need to know the terms and conditions of American Express Gold Card’s Auto Collision Damage Waiver? We read through the fine print and found the key information for you!

This article will compare the Collision Damage Waiver terms from the American Express Gold credit card to other popular travel benefit credit cards. Keep reading to compare the perks offered by the American Express Gold Card!

What’s Covered with American Express Gold Card’s Auto Rental Collision Damage Waiver?

The Collision Damage Waiver (CDW) offered by American Express Gold Card is secondary coverage. This CDW is designed to cover the deductible from other insurance.

Situations where the CDW coverage comes in handy include:

  • Loss or theft of rental vehicle
  • Damage to the rental vehicle

Pro Tip: Even if you’re not at fault, an uninsured or underinsured motorist could leave you with the bill for expensive damage to the rental car.

If you want to know the specific value of American Express Gold’s Collision Damage Waiver, that will depend on the deductible of your regular automobile insurance. Your benefit is limited to a maximum amount of $50,000.

Couple of lovers driving on a convertible car - Newlywed pair on a romantic date

What is Excluded with American Express Gold Card’s Auto Rental Collision Damage Waiver?

Rental car customers need to know that not every rental vehicle is covered by American Express Gold Card’s Collision Damage Waiver.

Here’s a list of several important exclusions to be aware of:

  • Liability for third-party property damage isn’t covered.
  • Liability for third-party medical expenses is not covered.
  • The driver and passengers’ medical expenses in the event of an accident.
  • Antique cars and recreational vehicles are not covered.
  • Motorbikes, mopeds, and limousines won’t have coverage.
  • Cargo vans, large passenger vans, or open-bed trucks are not covered
Side portrait of happy african american man driving car

American Express Gold Card’s vs. Other Cards’ Rental Car Insurance Offers

Other credit cards also offer Collision Damage Waivers. It’s important to note that many of these other cards offer to pay the cash value of the rental car with a limit of around $75,000, but American Express’ Gold Card caps this benefit at $50,000.

Here we created a table for readers to compare other factors of credit cards with Collision Damage Waivers like annual fees.

Credit CardRental Car Insurance Location ProvidedWhat is covered?Annual Fee
American Express Gold CardProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$250
American Express Platinum CardProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$695
Bank of America Travel RewardsProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$0
Capital One Venture X Travel Rewards Credit CardProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$395
Chase Freedom UnlimitedProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle, Loss of Use Charges$0
Chase Sapphire ReserveProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle, Loss of Use Charges$550
Costco Anywhere Visa Card by CitiProvidedWorldwide With Few ExceptionsDamage or Theft of Rental VehicleCostco Membership, $60/Person
Ink Business Cash by ChaseProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$0
Ink Business Preferred by ChaseProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$95
Southwest Rapid Rewards PremierProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$99

American Express Gold Card Travel Benefits vs. Other Cards’ Benefits

American Express cardholders get travel perks above and beyond the Auto Renewal Collision Damage Waiver. These perks include bonuses like Trip Delay Insurance and Baggage Insurance.

Pro Tip: The American Express Gold Card has the highest reward amount for the dining out category of travel-minded credit cards. 

This table will compare several benefits of popular credit cards at a glance.

Credits CardPurchase APRGasoline RewardsRestaurants/BarsOther Travel
American Express Gold Card19.74% to 26.74%1x Points4x Points3x Points for Flights Booked through AmexTravel and Other Credits Available
American Express Platinum Card19.74% to 26.74%1x Points1x Points5x Points for Flights and Hotels Booked through AmexTravel Plus Credits for Hotels, TSA Precheck and More
Bank of America Travel Rewards16.99% to 26.99%1.5 Points per $11.5 Points per $11.5 Points per $1
Capital One Venture X Travel Rewards Credits Card19.99% to 26.99%2x Miles2x Miles10x Miles for Rental Cars and Hotels, 5x Miles for Flights, Plus Credits through Capital One Travel, Other Bonus Miles
Chase Freedom Unlimited18.74% to 27.49%1.5 % Cash Back3% Cash Back5% cashback for Flights, Hotels, Rental Cars, Activities, and Cruises
Chase Sapphire Reserve20.74% to 27.74%1 reward point per $13x Points on Dining Out, 10x Points on Select Dining$300 Annual Travel Credits, 5x Points on Flights, 10x Points on Cars and Hotels, 3x Points on Other Travel
Costco Anywhere Visa Card by Citi18.99%4% on Gas and EV Charging First $7,000 then 1% After3% Cash Back3% on Eligible Travel Purchases
Ink Business Cash by Chase16.24% to 22.24%2% Cash Back on First $25,000 Annually2% Cash Back on first $25,000 Annually1% Unlimited Cash Back on All Purchases
Ink Business Preferred by Chase18.99% to 23.99%1x Points1x Points3x Points for Select Travel Purchases, Travel Insurance
Southwest Rapid Rewards Premier19.74% to 26.74%1 Reward point per $11 Reward point per $13 Points for Every $1 on Southwest, 2 Points for Every $1 on Rapid Rewards Hotel and Car Partners
Young and cheerful woman enjoying new car hugging steering wheel sitting inside. Woman driving a new car.

Frequently Asked Questions

Do credit card companies offer car protection for rented cars?

Some credit cards, like the American Express Gold credit card, have an Auto Rental Collision Damage Waiver as a cardholder benefit. The Collision Damage Waiver helps cover the value of the rental car if it’s damaged or stolen.

How do I learn if my credit card has rental car insurance?

You may read your Guide to Benefits or call your credit card customer service line to determine if your credit card offers rental insurance.

References

(2022). Auto Rental Collision Damage Waiver. chase.com. Retrieved November 15, 2022, from https://www.chase.com/personal/credit-cards/slate/autorental-protection

(2022). Costco Anywhere Visa Card by Citi. Citi.com. Retrieved November 15, 2022, from https://www.citi.com/credit-cards/citi-costco-anywhere-visa-credit-card

(2022). Does My Costco Anywhere Visa Card by Citi Include Rental Car Insurance. Costco Travel. Retrieved November 15, 2022, from https://costco-travel-us-mbr.custhelp.com/app/answers/detail/a_id/5902/~/does-my-costco-anywhere-visa%C2%AE-card-by-citi-include-rental-car-insurance%3F

(2022). Southwest Rapid Rewards. creditcards.chase.com. Retrieved November 15, 2022, from https://creditcards.chase.com/southwest/priority-credit-card

(2022). Visa Guide to Benefits. business.bofa.com. Retrieved November 16, 2022, from https://business.bofa.com/content/dam/boamlimages/documents/PDFs/visa_guide_to_benefits.pdf

(2022). Visa Infinite Benefit Guide. Capital One. Retrieved December 10, 2022, from https://ecm.capitalone.com/WCM/card/benefits-guide/visa-benefits-guides/visa-infinite-english.pdf

Jesse Cunningham profile picture

Jesse Cunningham V is a professional writer and licensed insurance agent. He has worked in the insurance industry in different capacities, starting as a customer service representative and working his way up to an independent agency owner. He is licensed in the states of Maryland and Pennsylvania for Property, Casualty, Life, and Health products. Jesse has worked with many national carriers, including Nationwide, State Farm, Travelers, and Liberty Mutual, and specializes in car and home insurance and health, life, accidental death, and disability insurance. He writes for multiple publications including FIXD and Bauple.com. All articles by Jesse are opinion-based. Speak with your licensed insurance agent about the particulars of your insurance before making any decisions.

We’re here to help you simplify car care and save, so this post may contain affiliate links to help you do just that. If you click on a link and take action, we may earn a commission. However, the analysis and opinions expressed are our own.

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About the Author

Jesse Cunningham

Jesse Cunningham

Jesse Cunningham V is a professional writer and licensed insurance agent. He has worked in the insurance industry in different capacities, starting as a customer service representative and working his way up to an independent agency owner. He is licensed in the states of Maryland and Pennsylvania for Property, Casualty, Life, and Health products. Jesse has worked with many national carriers, including Nationwide, State Farm, Travelers, and Liberty Mutual, and specializes in car and home insurance and health, life, accidental death, and disability insurance. He writes for multiple publications including FIXD and Bauple.com. All articles by Jesse are opinion-based. Speak with your licensed insurance agent about the particulars of your insurance before making any decisions.

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