If you have plans to travel, renting a car might be a part of those plans. Before paying to add the available insurance to your rental, find out if your Capital One credit card includes rental car insurance. If it does, you can reduce the cost of renting a vehicle.
What Is Rental Car Insurance, and Why Do You Need It?
Rental car insurance is a type of insurance that covers your costs if you’re in an accident while renting a vehicle. Most car rental companies require that you have insurance, whether you pay for it through them, use a credit card that offers rental car coverage, or use your existing insurance policy. If you have access to a Capital One credit card, you might be able to use that card for more than paying for your rental car.
Many Capital One credit cards have built-in benefits, including car rental insurance. Car rental insurance might include:
- Collision coverage: Collision coverage covers damages to the vehicle if you’re in a collision.
- Theft coverage: Theft coverage covers the cost of replacing a vehicle if your rental gets stolen.
- Towing coverage: Towing coverage covers the cost of a tow truck after being in an accident.
The coverage types your card includes vary depending on the specific credit card. When you use a credit card for car rental insurance, the company will issue you a collision damage waiver. This is also known as a loss damage waiver. This means the company releases you from all financial damages if you’re in an accident. This is the same protection the car rental company offers you at a per-day rate. If you already have this coverage available through your credit card, you can decline it.
What Types of Rental Car Insurance Does Capital One Include?
It’s important to know what your Capital One credit card covers to ensure you have sufficient rental car coverage. Capital One credit cards with rental car coverage offer:
- Reimbursement for vehicle damages
- Reimbursement for theft
- Coverage of administrative costs
- Reimbursement of towing costs, as long as they’re reasonable
Capital One credit cards cover you for up to the total value of your rental vehicle. Most Capital One credit cards are secondary insurance providers. This means they cover any costs your primary insurance provider doesn’t. However, Capital One does offer primary insurance when renting a car in another country.
Even though Capital One credit cards are secondary insurance, they also cover the cost of your deductible when filing a claim with your primary provider. They’ll cover administrative costs your primary insurance might not pay as well. Secondary car insurance means if you’re in an accident when driving a rental, you’ll first submit a claim with your primary provider. If costs remain that your policy won’t cover, you can then file a claim with Capital One.
Which Capital One Credit Cards Offer Car Rental Insurance?
All Capital One Visa cards offer rental car insurance. Capital One Mastercard rental car insurance varies depending on the card. The following Capital One credit cards offer car rental insurance:
- Capital One Venture X
- Capital One VentureOne
- Capital One Quicksilver
- Capital One Quicksilver Student
- Capital One SavorOne Student
As long as you have one of these cards, use it to rent a vehicle, and decline the car rental company’s insurance, you qualify for coverage.
What Doesn’t Credit Card Car Rental Insurance Cover?
Most credit cards offer secondary insurance, which doesn’t include liability insurance, personal accident insurance, or long rental periods. So before you use your Capital One credit card for rental car insurance, it’s important to know what it includes. Because it’s secondary insurance, it’s also important to evaluate what your primary provider covers. If you have good auto insurance coverage with liability, comprehensive, and collision, it might be enough to use your Capital One credit card for secondary insurance.
Capital One credit cards exclude some types of vehicle rentals, including antique or exotic vehicles, vehicles with open cargo beds, motorcycles, and limousines. Capital One also won’t cover your costs if you violate your rental agreement. There are also limitations on how long you can use the insurance. Most Capital One cards cover you for up to 15 days domestically and 31 days internationally.
How To Use Capital One Credit Card Rental Car Insurance
Once you have a Capital One credit card that offers car rental insurance, you can pay for your rental using that card. Capital One credit cards that offer car rental insurance cover vehicle rentals in the United States and most foreign countries. Decline the insurance the car rental company offers when you go to pick up your rental car. Check that your rental agreement isn’t charging you for insurance. If the rental company does charge you for the insurance and you pay for it, your Capital One car rental insurance won’t apply to the rental.
How To File a Capital One Rental Car Claim
If you’re in an accident while driving a rental and you paid for the rental using a Capital One card, you can file a claim with Capital One. Be sure to include as much information as you can with the claim, including a copy of the police report, the car rental agreement, repair estimates and bills, and any photographs of the damages.
Additional Capital One Credit Card Benefits
Capital One credit cards also come with other benefits, including:
- Access to Eno, Capital One’s artificially intelligent virtual assistant
- 24/7 customer service
- Fraud coverage services
- Travel and shopping benefits
- Access to Capital One Dining and Capital One Entertainment programs
These benefits, in addition to Capital One credit card rental car insurance, can make your card even more valuable.
Ensuring you have enough insurance coverage is crucial when renting a car. If you carry an eligible Capital One credit card, you might be able to decline insurance with the car rental company and reduce the cost of renting.
At FIXD, our mission is to make car ownership as simple, easy, and affordable as possible. Our research team utilizes the latest automotive data and insights to create tools and resources that help drivers get peace of mind and save money over the life of their car.