1. Year
2. Make
3. Model
4. Trim
5. Fuel Type

Great news! FIXD is compatible with your vehicle.

BUY NOW

Unfortunately, FIXD is not guaranteed to be compatible with your vehicle.

It's our biggest sale of the year!

FIXD logo

Ink Business Preferred by Chase Rental Car Insurance

Ink Business Preferred by Chase offers coverage for the cash value of a rental car through an Auto Rental Collision Damage Waiver (CDW). This CDW is also known as rental car insurance. Unlike most CDWs, the rental car may be rented for business purposes with the Ink Business Preferred Card.

The Best Way To Save On Insurance Is To Get A New Quote

See how you can cut rising costs with our car insurance comparison tool. In just a few minutes, you could be on the road to bigger savings!

TABLE OF CONTENTS

Do you need to learn about the Collision Damage Waiver benefit from your Ink Business Preferred credit card? We have an easy-to-follow guide below!

Keep reading to understand what coverage for rental cars is offered through your Ink Business Preferred Card. We will also compare this rental car insurance to other coverage offered by competing credit cards. As a bonus, we’ll compare the travel benefits of the Ink Business Preferred Card to other popular travel credit cards!

What is Covered with the Ink Business Preferred Card by Chase’s Auto Rental Collision Damage Waiver?

The Collision Damage Waiver included with the Ink Business Preferred Card will cover the cash value of the rental vehicle. This coverage is important because rental car customers are financially responsible for the rental vehicle even if they are not at fault.

The Ink Business Preferred Card’s Collision Damage Waiver will protect you in these instances

  • The rental car was stolen.
  • The car has been damaged by an underinsured or uninsured motorist.
  • The cardholder is at fault for a collision (If you are in a not-at-fault accident, the other person’s insurance will cover the claim).

Pro Tip: To use this coverage, verify that the rental vehicle is covered by calling card services. Then, if covered, decline damage waivers through the rental company. Coverage in your country of residence is secondary. That means filing a claim with regular car insurance first is required by the policy’s fine print. The CDW will cover the deductible from your primary insurance.

Three millennial female friends on a road trip driving together in an open jeep, close up

What is Excluded with Ink Business Cash’s Auto Rental Collision Damage Waiver?

All Collision Damage Waivers have exclusions, so we listed the major ones for the Ink Business Preferred Card.

  • Liability and/or medical expenses are not covered by a Collision Damage Waiver (CDW).
  • CDW does not cover expensive, antique, or exotic vehicles.
  • Cargo vans, large passenger vans, and open-bed trucks are not covered.
  • Recreational vehicles are also excluded from coverage.
Happy woman inside a car driving in the street and gesturing thumb up

Ink Business Preferred Card by Chase vs. Other Cards’ Rental Car Insurance Offers

What sets the Ink Business Cash Card’s Collision Damage Waiver(CDW) apart from other popular credit cards is the business coverage. Most CDWs won’t cover a rental car used for business purposes. As a business credit card, Ink Business Preferred Card does. 

This chart compares other credit cards and their annual fees.

Credit CardRental Car Insurance Location ProvidedWhat is covered?Annual Fee
Ink Business Preferred by ChaseProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$95
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
Southwest Rapid Rewards PremierProvidedWorldwide With Few ExceptionsDamage or Theft of Rental Vehicle$99

Ink Business Preferred Card’s Travel Benefits vs. Other Cards’ Benefits

The travel benefits for the Ink Business Preferred Card beats out the free Ink Business card, but reward points are lackluster compared to the personal travel credit card powerhouses. 

One important perk offered by the Ink Business Preferred Card is the built-in travel insurance, but that’s not exclusive to this card either.

We created this table to compare many of the travel benefits offered by popular cards.

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

Most Visa, Mastercard, and American Express Cards offer rental car insurance. This coverage is known as an Auto Rental Collision Damage Waiver in the benefits guide.

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

Once you know what type of vehicle you would like to rent, call the benefits number for your credit card to verify coverage for the rental car with your credit card benefits.

Does Chase Business Ink Preferred offer purchase protection?

Chase’s Ink Business Preferred credit card does offer purchase protection. There’s a 120-day limit to file the claim and a $10,000 limit per claim. There’s also a maximum benefit amount of $50,000 per year.

Should I keep my Chase Ink Business Preferred Card?

The Chase Ink Business Preferred Card offers business benefits like rental car insurance for cars rented for business purposes. Regularly using the card for purchases will benefit your business and justify the annual fee.

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.

Topics

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.

You might also like

Explore Car Resources

car insurance icons

Car Insurance

Find the best insurance deals for your car

Car Buying

Everything you need to know about buying a vehicle

FIXD Team logo

Car Care

Car repair costs, how-to guides, and more

car buying icons

Vehicle Search

Search any make/model for reviews, parts and more