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.

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.

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 Card | Rental Car Insurance | Location Provided | What is covered? | Annual Fee |
---|---|---|---|---|
Ink Business Preferred by Chase | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $95 |
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 Cash by Chase | Provided | Worldwide With Few Exceptions | Damage or Theft of Rental Vehicle | $0 |
Southwest Rapid Rewards Premier | Provided | Worldwide With Few Exceptions | Damage 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 Card | Purchase APR | Gasoline Rewards | Restaurants/Bars | Other Travel |
---|---|---|---|---|
Ink Business Preferred by Chase | 18.99% to 23.99% | 1x Points | 1x Points | 3x Points for Select Travel Purchases, Travel Insurance |
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 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 |
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?
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
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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.