Do you need to understand the Collision Damage Waiver offered by your Ink Business Cash credit card? Keep reading! We found the information for you.
In this article, we will outline the basics of the Collision Damage Waiver through the Ink Business Cash by Chase credit card. We will also compare this benefit to similar Collision Damage Waivers offered by other credit cards. Keep reading to compare other travel perks too!
What is Covered with Ink Business Cash Card by Chase’s Auto Rental Collision Damage Waiver?
The cash value of the rental vehicle is covered by the Collision Damage Waiver offered through the Ink Business Cash card. This coverage protects rental customers from financial liability for a damaged or stolen rental car.
In the renter’s country of residence, the Collision Damage Waiver is secondary coverage. That means a claim must be filed through regular auto insurance first. Outside of the cardholder’s country of residence, the coverage is primary.
Pro tip: If renting the car for business purposes, using a business credit card like Ink Business Cash is one way to access the Collision Damage Waiver benefit. This is because most personal credit cards’ CDW will not apply to cars rented for business purposes.
What is Excluded with Ink Business Cash Card’s Auto Rental Collision Damage Waiver?
It’s important to know what’s automatically excluded by the Collision Damage Waiver through Ink Business Cash. Here’s a quick list of the major exclusions to be aware of:
- Any medical expenses for the driver and passengers are not covered.
- Liability for third-party damage and medical expenses is not covered.
- Exotic, expensive, or recreational vehicles are not covered.
- Trucks with open beds, cargo vans, and vans that seat more than 9 are excluded from coverage.
- Cars rented for longer than 31 consecutive days are not covered.
Ink Business Cash Card by Chase vs. Other Cards’ Rental Car Insurance Offers
The Ink Business Cash Card is not the only credit card with an Auto Rental Collision Damage Waiver (CDW). Most Visa and Mastercards offer some type of CDW.
Ink Business Cash’s CDW is unique because it covers rental vehicles used for business purposes. Most CDWs for personal credit cards will not cover cars rented for business purposes. Business Credit Cards like Ink Business Cash or Ink Business Preferred have CDWs that cover rentals for business use.
Here’s a table to quickly compare other popular cards with Collision Damage Waivers and their annual fees.
| Credit Card | Rental Car Insurance | Location Provided | What is covered? | Annual Fee |
|---|---|---|---|---|
| Ink Business Cash by Chase | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $0 |
| American Express Gold Card | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $250 |
| American Express Platinum Card | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $695 |
| Bank of America Travel Rewards | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $0 |
| Capital One Venture X Travel Rewards Credit Card | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $395 |
| Chase Freedom Unlimited | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle, Loss of Use Charges | $0 |
| Chase Sapphire Reserve | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle, Loss of Use Charges | $550 |
| Costco Anywhere Visa Card by Citi | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | Costco Membership, $60/Person |
| Ink Business Preferred by Chase | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $95 |
| Southwest Rapid Rewards Premier | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $99 |
Ink Business Cash Card’s Travel Benefits vs. Other Cards’ Benefits
Ink Business Cash doesn’t offer as many travel benefits as other popular cards. However, because the Collision Damage Waiver for Ink Business Cash covers business use rentals and has a $0 annual fee, Ink Business Cash may be just the card you need.
| Credits Card | Purchase APR | Gasoline Rewards | Restaurants/Bars | Other Travel |
|---|---|---|---|---|
| Ink Business Cash by Chase | 16.24% to 22.24% | 2% Cash Back on First $25,000 Annually | 2% Cash Back on first $25,000 Annually | 1% Unlimited Cash Back on All Purchases |
| American Express Gold Card | 19.74% to 26.74% | 1x Points | 4x Points | 3x Points for Flights Booked through AmexTravel and Other Credits Available |
| American Express Platinum Card | 19.74% to 26.74% | 1x Points | 1x Points | 5x Points for Flights and Hotels Booked through AmexTravel Plus Credits for Hotels, TSA Precheck and More |
| Bank of America Travel Rewards | 16.99% to 26.99% | 1.5 Points per $1 | 1.5 Points per $1 | 1.5 Points per $1 |
| Capital One Venture X Travel Rewards Credits Card | 19.99% to 26.99% | 2x Miles | 2x Miles | 10x Miles for Rental Cars and Hotels, 5x Miles for Flights, Plus Credits through Capital One Travel, Other Bonus Miles |
| Chase Freedom Unlimited | 18.74% to 27.49% | 1.5 % Cash Back | 3% Cash Back | 5% cashback for Flights, Hotels, Rental Cars, Activities, and Cruises |
| Chase Sapphire Reserve | 20.74% to 27.74% | 1 reward point per $1 | 3x 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 Citi | 18.99% | 4% on Gas and EV Charging First $7,000 then 1% After | 3% Cash Back | 3% on Eligible Travel Purchases |
| Ink Business Preferred by Chase | 18.99% to 23.99% | 1x Points | 1x Points | 3x Points for Select Travel Purchases, Travel Insurance |
| Southwest Rapid Rewards Premier | 19.74% to 26.74% | 1 Reward point per $1 | 1 Reward point per $1 | 3 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 protection for rented cars?
Many credit cards, like the Ink Business Cash Card by Chase, include a benefit that covers the cash value of the rental car. This is called a Collision Damage Waiver or rental car insurance.
How do I know if my credit card perks include rental car insurance?
The best way to ensure your rental vehicle is covered by your credit card’s Collision Damage Waiver is to call the number for the benefits line and verify the details.
References
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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.
