It’s crucial to check that you have enough insurance coverage when renting a car. If you have the Capital One Venture credit card, you may have access to rental car insurance already built into your card.
What Is Rental Car Insurance?
Rental car insurance is a type of coverage that removes your liability if you’re in an accident when renting a vehicle. Unlike with typical insurance, when you buy rental car insurance, you receive a liability waiver. This waiver means you’re not liable for damages if the rental vehicle is stolen or damaged in an accident. While you can buy this liability waiver through the car rental company, you may already have access to it if you have the Capital One Venture credit card without having to pay anything extra.
How Much Is Rental Car Insurance?
The cost of rental car insurance depends on your vehicle and the rental company. It can range from $10 to $30 per day. If you use an eligible Capital One Venture card to pay for your rental, you don’t pay anything extra for rental insurance. Rental car insurance is a requirement by most rental companies. Even if you have auto insurance, you’ll still need rental insurance either through the rental company or by using your Capital One Venture credit card.
What Is Capital One Venture Rental Car Insurance?
The Capital One Venture credit card has a reputation for being a good travel card with available benefits like rental car insurance. If you have to rent a car domestically or internationally, Capital One has you covered as long as you use the card to book and pay for the rental and deny the rental company’s insurance.
Capital One rental insurance covers the full value of the vehicle. They offer insurance on rentals for up to 15 days domestically and 31 days internationally. However, the car rental company may still charge you for things like administration costs, so it’s always a good idea to check your rental agreement before signing.
What Type of Insurance Does the Capital One Venture Credit Card Offer?
Capital One has three Venture credit cards, which makes a difference as to the type of rental car insurance available. The Venture and Venture One credit cards offer secondary car rental insurance. The Capital One Venture X credit card offers primary insurance. Secondary insurance means that if you’re in an accident when driving a rental, you’ll first file a claim with your primary insurance provider. If there are costs left over that your insurance company won’t pay, you can then file a claim with Capital One.
If you have primary car rental insurance, you can file a claim with Capital One first. Capital One credit cards that offer secondary car rental insurance usually have a lower annual fee than the card that offers primary rental insurance. It’s important to consider your coverage needs and decide if secondary coverage is enough for you. If you’re in an accident with primary coverage, you won’t have to pay a deductible, and your insurance rates won’t increase as a result.
What’s Not Included With Capital One Car Rental Insurance?
Capital One does limit some rental types and locations. For example, Capital One Venture rental car insurance doesn’t cover expensive or exotic cars. It also doesn’t typically cover cargo vans or motorcycles. Liability waivers also don’t cover personal injuries or damages to personal property. If you experience injuries in an accident, you’ll likely still have to file a claim with your personal insurance provider. Capital One may also deny your claim if you violate your rental agreement in any way,
Before relying on the Capital One Venture rental car insurance or any other type of credit card insurance to cover you when renting a vehicle, it’s important to know a few things. Capital One offers rental car insurance in the U.S. and most international countries, but some countries are excluded. Capital One doesn’t typically cover car rentals in Ireland, Israel, or Jamaica. It’s possible that they will not cover additional countries, so it’s always a good idea to check before relying on their coverage.
How to Access Rental Car Insurance With the Capital One Venture Card
To access Capital One Venture rental car insurance, all you need to do is pay for the rental with your Venture credit card and deny the coverage available through the rental company. If you don’t decline the coverage through the rental company, Capital One won’t cover your costs. You must also be the primary cardholder, and the rental must be in your name to qualify. Any authorized users on your Capital One Venture credit card can also use the rental car insurance benefits.
If you’re in an accident or your vehicle is stolen while renting a car, and you use the card to book the rental, you can file a claim with Capital One. Remember, if you have secondary insurance, you’ll also need to file a claim with your primary insurance provider. You’ll need information like a copy of the police report, rental agreements, repair estimate, itemized bill, and any photos of damages if you have them. The Capital One claims adjuster may also request additional information.
Additional Capital One Credit Card Benefits
In addition to rental car insurance, the Capital One Venture credit card also comes with other benefits, including:
- Access to Capital One’s 24/7 personal assistant, Eno
- Fraud coverage with $0 liability
- Access to credit monitoring tools through CreditWise
- Rewards with no expiration dates
- Travel rewards
- No foreign transaction fees
- Premiere access to Capital One Dining and Capital One Entertainment
- TSA Precheck and Global Entry reimbursement
- Extended warranty on some purchases
Some Capital One credit cards come with a fee, meaning it’s important to weigh the cost with the frequency you rent cars.
Capital One Venture rental car insurance can help you reduce the cost of renting a vehicle. Whether you have to rent domestically or internationally, using a Capital One Venture credit card can ensure you’re covered.
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.