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Costco Anywhere Visa Rental Car Insurance Coverage

The Costco Anywhere Visa Card by Citi includes rental car insurance. Another name for this cardholder perk is Auto Rental Damage Collision Waiver. This benefit covers the cash value of the rental car if it is lost, stolen, or damaged.

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TABLE OF CONTENTS

Do you need to know the terms of your rental car insurance coverage included with your Costco Anywhere Visa? We sorted through the nitty gritty terms and conditions, so you don’t have to!

Keep reading to find out what is included and excluded in your rental insurance, compare your Costco Anywhere Visa travel benefits with other popular cards, and find answers to frequently asked questions.

What is Covered with Costco Anywhere Visa’s Auto Rental Collision Damage Waiver?

Auto Rental Collision Damage Waiver covers your rental vehicle’s loss, theft, or damage. To use this benefit, you must follow the policy guidelines. These are the guidelines:

  • Coverage is primary when outside of the United States
  • Coverage in the United States is secondary to your automobile insurance policy
  • Rental vehicle must have four wheels and be legal for use on public roads
  • You need to opt out of the rental company’s insurance plan

Additional coverage available through Costco’s partner, Zurich

Cropped view of woman holding smartphone and credit card while refueling car on gas station

What is Excluded with Costco Anywhere Visa’s Auto Rental Collision Damage Waiver?

This benefit only covers the rental vehicle. It would not cover all the costs if you were in an accident. The following situations are excluded.

  • Liability for other vehicles or property damage
  • Your personal property
  • Medical expenses for anyone inside or outside the vehicle

Costco Anywhere Visa vs. Other Cards’ Rental Car Insurance Offers

Your Costco Anywhere Visa Card by Citi may not be the only option for rental car insurance in your wallet. Our table compares popular credit cards with a collision damage waiver policy and their annual fees.

Credit CardRental Car InsuranceLocation ProvidedWhat is coveredAnnual Fee
Costco Anywhere Visa Card by CitiProvidedWorldwideDamage or Theft of Rental VehicleCostco Membership, $60/Person
American Express Gold CardProvidedWorldwide Except Australia, Italy, and New ZealandDamage or Theft of Rental Vehicle$695
American Express Platinum CardProvidedWorldwide Except Australia, Italy, and New ZealandDamage or Theft of Rental Vehicle$0
Bank of America Travel RewardsProvidedWorldwideDamage or Theft of Rental Vehicle$250
Capital One Venture X Travel Rewards Credit CardProvidedWorldwideDamage or Theft of Rental Vehicle$395
Chase Freedom UnlimitedProvidedWorldwideDamage or Theft of Rental Vehicle, Loss of Use Charges$0
Chase Sapphire ReserveProvidedWorldwideDamage or Theft of Rental Vehicle, Loss of Use Charges$550
Ink Business Preferred by ChaseProvidedWorldwideDamage or Theft of Rental Vehicle$95
Ink Business Cash by ChaseProvidedWorldwideDamage or Theft of Rental Vehicle$0
Southwest Rapid Rewards PremierProvidedWorldwideDamage or Theft of Rental Vehicle$99

Costco Anywhere Visa Travel Benefits vs. Other Cards’ Benefits

The Costco Anywhere Visa Card by Citi offers 3% cash back on travel-related expenses like dining and gasoline. Other credit cards may provide additional travel perk options. Our table also includes a column with their purchase Annual Percentage Rate (APR.)

Credits CardPurchase APRGasoline RewardsRestaurants/BarsOther 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
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
Ink Business Preferred by Chase18.99% to 23.99%1x Points1x Points3x Points for Select Travel Purchases, Travel Insurance
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
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

Frequently Asked Questions

Do credit card companies offer car protection for rented cars?

Some credit cards, like the Costco Anywhere Visa Card by Citi, include an auto rental damage collision waiver in their terms and conditions.

How do I know if my credit card benefits include rental car insurance?

You can find out if your credit card benefits include rental car insurance by reading your terms and conditions, or you may call the customer service line.

Does the name on the credit card name have to match the driver for the rental car?

The cardholder must be listed on the rental agreement for the Costco Anywhere Visa’s car rental benefit.

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

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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