In compiling this report, we contacted Visa, MasterCard, Discover, and American Express in order to

When most people think of credit card perks, their minds turn to rewards, low interest rates, and the like. However, credit cards naturally provide a number of far-reaching standard benefits that help protect cardholders from both monetary loss and unnecessary hassle. Two of the most important such benefits are rental car collision protection and extended warranties. This study, together with the 2012 Credit Card Extended Warranty Study , provides an in-depth examination of the policies of the four major credit card networks as they relate to these important benefits.
To provide context, roughly 20% of consumers always purchase supplemental insurance coverage when renting a car, according to a study from Progressive Insurance, and another 20% do so on occasion. Sitting atop the list of reasons for such purchases herts rental car is confusion as to whether personal auto insurance extends to rental cars. Indeed, 62% of consumers do not believe their personal auto insurance automatically covers rental herts rental car cars, according to a survey conducted by the National Association of Insurance Commissioners. herts rental car Similarly, 24% aren't sure whether their credit cards provide any sort of coverage either.
In this study, we will address what type of rental car insurance coverage consumers automatically receive through their credit cards, how they can take advantage of it, which credit cards offer the best insurance coverage, and whether any other forms of supplemental insurance are therefore needed.
Key Findings All four major card networks provide some form of rental car insurance coverage. MasterCard is the only network that does not provide coverage to all cardholders. VISA's rental car insurance received the highest cumulative score (87%), while Discover ranked second (85%), American Express ranked third (82%), and MasterCard last (73%). All four major networks necessitate that cardholders charge the entire rental car purchase on their credit card and decline supplemental insurance/Collision Damage Waivers (CDW) offered by the rental company in order to be eligible. None of the four major networks provides coverage for the rental of exotic, expensive, or antique cars; trucks; vehicles with open beds; or off-road vehicles. VISA and MasterCard are the only two networks that do not cover accidents occurring on dirt and gravel roads. As if that weren't enough, MasterCard also has a confusing stipulation that excludes accidents occurring on roads that aren't regularly maintained. VISA, MasterCard, and American Express exclude from coverage herts rental car rentals in certain countries as well as rentals that exceed specified time limits. Discover is the only network to provide coverage herts rental car in all of the countries that its cards are accepted. American Express is the only network herts rental car not to provide coverage for renting certain popular SUVs, including the Suburban and Tahoe from Chevrolet, GMC Yukon, Ford Expedition, herts rental car Lincoln Navigator, Toyota Land Cruiser, Lexus LX450, Range Rover, and full-sized Ford Bronco. Overall, the fine print and level of complexity of card network insurance policies makes it difficult for consumers to understand and count on them.
Visa Discover MasterCard American herts rental car Express Likelihood of Coverage 52% 60% 40% 47% Ubiquity 20% 20% 10% 20% Vehicles Excluded 17% 20% 20% 12% Events Excluded 15% 20% 10% 15% Quality of Coverage 25% 15% 25% 25% Logistics herts rental car 10% 10% 8% 10% Activation 5% 5% 5% 5% Claims Process 5% 5% 3% 5% OVERALL SCORE 87% 85% 73% 82% Methodology
In compiling this report, herts rental car we contacted Visa, MasterCard, Discover, and American Express in order to answer the following six important questions: 1) Who is eligible for network rental car insurance coverage? 2) What vehicles are excluded? 3) What events are not covered? 4) What is covered? 5) How does one activate the benefit? and 6) How should claims be filed?
We then scored and ranked the networks based on three general criteria: the likelihood herts rental car that cardholders will be covered when and if they have to file a claim with their credit card company, the quality of coverage they will receive in such an event, and the difficulty of the claims process. The breakdown of the scoring is as follows:
Likelihood of Coverage: 65% Ubiquity on Network Cards (i.e. likelihood of coverage with network card): 20% Vehicles herts rental car Not Covered: 25% Events Not Covered: 20% Quality of Coverage: 25% Logistics: herts rental car 10% Activation: 5% Claims herts rental car Processing: 5%
Likelihood of coverage was given the most weight for the simple reason that nothing else matters if a consumer isn't eligible for coverage. The claims herts rental car process was given relatively herts rental car little herts rental car weight both because little difference exists between the claims processes of the different networks and given that a consumer who files a rental car insurance claim with his or her credit card network generally will not be deterred by a requirement to submit an extra document or two, for example.
The scores for each category herts rental car are based on our subjective opinion of how each network's policy compares to an ideal policy. In our opinion, an ideal policy would be one based on common sense, where the average consumer would know what to expect herts rental car without having to read the fine print. For example, an ideal policy would apply to all car rental agencies herts rental car that accept one's card, rather than providing herts rental car coverage in only a select number of countries where the card is accepted. Finally, it is important to note that the objective of this study is to help consumers make informed herts rental car decisions about which credit card to apply for. As a result, the study only takes into account credit cards – both general-consumer credit cards and business credit cards – that are accepting new applicants. While we acknowledge that some consumers may be subject to older policies than those presented in this study, and that is a risk that consumers should herts rental car keep in mind, it would be unfair to judge networks based on outdated policies for cards no longer being offered. Detailed Card Network Results
This benefit is available on all Visa Traditional Credit, Visa Rewards Credit, herts rental car and Visa Premium herts rental car Rewards cards. You are eligible only if you are a valid cardholder whose name is embossed on an eligible herts rental car U.S.-issued Visa card. Only you as the primary renter of the vehicle herts rental car and any additional drivers permitted by the auto rental agreement are covered.
The majority of MasterCard cards offer MasterRental/CDW (rental coverage). It is available for MasterCard Gold, Platinum, World and World Elite products (business and consumer). Issuers (banks) may also include the benefits on standard MasterCard herts rental car cards, as well. The covered MasterCard cardholder and those designated in the vehicle rental agreement/contract as authorized drivers.
All US Consumer and Small Business American Express Cards feature the Car Rental Loss Damage Insurance (CRLDI).The Basic and any Additional Cardmembers that have an eligible Card issued in his or her name are eligible for coverage.
Score Justification: herts rental car  VISA, Discover, and American Express give rental car insurance coverage to all of their credit cardholders and as such received perfect scores in terms of ubiquity. herts rental car MasterCard followed with a 10/20, as cardholders have to check whether their cards are covered and cannot benefit from the peace of mind provided by blanket coverage.
herts rental car Excluded worldwide are: expensive, exotic, and antique automobiles; certain vans; vehicles that have an open cargo bed; trucks; motorcycles, mopeds, and motorbikes; limousines; and recreational vehicles. Certain Vans: This benefit [rental car insurance] is provided for only those vans manufactured and designed to transport a maximum of eight (8) people including the driver and which is used exclusively to transport people. Examples herts rental car of excluded expensive or exotic automobiles are the Aston Martin, Bentley, Bricklin, Daimler, DeLorean, Excalibur, Ferrari, Jensen, Lamborghini, herts rental car Lotus, Maserati, Porsche, and Rolls Royce. However, selected models of BMW, Mercedes-Benz, Cadillac, and Lincoln are covered. An antique automobile is defined as any vehicle over twenty (20) years old or any vehicle that has not been manufactured for ten (10) years or more.
Off-road, antique, or limited edition herts rental car motor vehicles; trucks, herts rental car recreational vehicles, campers, pickup trucks, and mini-buses; limited edition motor vehicles or high-value, exotic, high performance or collector herts rental car type. High value motor vehicles are motor vehicles whose replacement value exceeds herts rental car $50,000. Antique vehicles defined as any vehicle over 25 years old, or any vehicle which has not been manufactured for 10 or more years.
All trucks, pickups, full-size vans mounted on truck chassis, cargo vans, campers, off-road vehicles, and other recreational vehicles. All sport utility trucks. These are vehicles that have been or can be converted to an open, flat bed truck (including, but not limited to, Chevy Avalanche, herts rental car GMC Envoy, and Cadillac Escalade EXT). Trailers, motorbikes, motorcycles, and any other vehicle having herts rental car fewer than four (4) wheels. Antique vehicles (vehicles that are more than twenty (20) years old or have not been manufactured for at least ten (10) years), or limousines. Any rental vehicle that has a manufacturer's suggested herts rental car retail price that exceeds $50,000 USD.
Expensive autos, which means autos with an original manufacturer s suggested retail price of $50,000 ($75,000 for all Platinum, Centurion, small Business Platinum and small Business Centurion) or more when new. Exotic cars regardless of year or value, including but not limited to Chevrolet Corvette, Toyota Supra, Mazda RX-7, Dodge Viper and Stealth, Plymouth Prowler, Mitsubishi 3000 GT, Nissan 300 ZX, Jaguar XJS, Acura NSX, Mercedes SL, SLK, S Coupe and E320, Coupe and Convertible, BMW M3, Z3 and 8 series, Cadillac Allante. All Porsche, Ferrari, Lamborghini, Maserati, Aston Martin, Lotus, Bugatti, Vector, Shelby Cobra, Bentley, Rolls Royce.  Trucks, pick-ups, cargo vans, custom vans; full-sized vans, including but not limited to Ford Econoline, or Club Wagon, Chevy Van