Ruqayyah Snyder
If you're planning to rent a car, you may be wondering if your credit card covers rental car insurance. Well, you're in luck! Many credit cards offer rental car insurance as a complimentary feature. This can include coverage for collision, theft, and excess charges. However, it's important to read the fine print as coverage can vary significantly between credit card companies and may depend on factors such as vehicle type, size, location, and rental length. Additionally, some credit cards may only offer secondary coverage, meaning they will cover any additional costs that your primary auto insurance company won't. So, before renting a car, be sure to check with your credit card provider to understand the specific benefits and limitations of your card's rental car insurance coverage.
| Characteristics | Values |
|---|---|
| Do Australian credit cards cover car rental insurance? | Yes, some credit cards do include car rental insurance. |
| What type of insurance is it? | Rental vehicle excess insurance or car hire excess insurance. |
| What does it cover? | Covers your excess costs if your hire car is stolen or damaged in an accident. |
| What are the exclusions? | Driving under the influence, driving without a licence, or using the vehicle in breach of the rental agreement. |
| How to access the insurance? | Charge the total car hire cost on the eligible credit card. |
| What to do in case of a claim? | Keep all records and receipts from the rental company. Ask for everything in writing. |
| What are some of the credit cards that offer this insurance? | ANZ Visa Platinum Card, Bendigo Bank's Platinum Rewards and Platinum Qantas credit cards, Amex Reserve, AmEx Plat, Citi cards. |
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What You'll Learn
Credit card car hire insurance
When renting a car, you may consider purchasing rental car excess insurance from a car hire company. However, some travellers may already be covered by their credit card provider. This is known as rental excess insurance or car hire excess insurance. It covers your excess costs if your hire car is stolen or damaged in an accident.
Most credit cards offer some degree of rental car collision and theft insurance, but the extent of coverage varies by credit card company. Some companies offer quite comprehensive rental car insurance, while others offer the bare minimum. For example, Westpac covers the maximum total limit up to the amount specified in your rental vehicle agreement or $5,500, whichever is less. Bendigo Bank's Platinum Rewards and Platinum Qantas credit cards also cover global hire car excess up to $5,000.
It is important to carefully read the fine print of your credit card insurance policy, as some policies will not cover long-term rentals, certain vehicles such as 8-seaters and exotic vehicles, or rentals in specific countries. Additionally, some policies have limitations, such as not covering tyre, windscreen, roof or interior damage. Exclusions can include driving under the influence, driving without a licence, or using the vehicle in breach of the rental agreement.
To access complimentary rental vehicle excess insurance, you must charge the total car hire cost to the eligible credit card and follow the terms and conditions outlined in the policy booklet. If your card comes with an international travel insurance policy, always check with your bank before travelling, as there may be differences or specific conditions.
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Rental vehicle excess insurance
When hiring a car, some insurance cover is usually included in the fee, but there is typically a car insurance excess, which is the amount you pay out of pocket if you make an eligible claim under the hire company's standard liability cover. This excess can be quite expensive, sometimes reaching thousands of dollars, so it is worth considering an insurance policy to cover this cost.
If you plan to rely on your credit card for rental vehicle excess insurance, be sure to check with your card provider first to find out what is covered. Most major credit card companies offer secondary coverage, which means they will cover any additional costs your primary auto insurance company won't cover. However, the extent of coverage varies by company, with some offering comprehensive rental car insurance and others offering the bare minimum. It is important to carefully read the fine print of your credit card policy, as some companies may not cover long-term rentals, certain vehicles, or rentals in specific countries.
In Australia, some credit cards that offer rental vehicle excess insurance include the ANZ Visa Platinum Card, Bendigo Bank's Platinum Rewards and Platinum Qantas credit cards, and the AmEx Reserve. These cards typically cover excess costs up to a specified amount, such as $5,000 or $100,000. To access this complimentary insurance, you usually must charge the total car hire cost to the eligible credit card and follow the terms and conditions outlined in the policy booklet.
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ANZ Visa Platinum Card
The ANZ Visa Platinum Card does offer rental vehicle excess insurance in Australia. This insurance covers your excess costs if your hire car is stolen or damaged in an accident. However, to access the rental cover, you must meet QBE and ANZ's eligibility requirements. You can refer to the ANZ Platinum and Black Credit Card Complimentary Insurance booklet for the eligibility criteria, terms, conditions, limits, and exclusions of the group policy.
If you are involved in an accident with a rental car, the excess will typically be charged to your credit card by the hire car company. If you have rental car excess insurance, this charge will be reimbursed for an eligible claim.
It is important to note that these types of insurance policies only cover the excess amount you are liable for and are subject to a range of exclusions. Before committing to any particular credit card, it is recommended to check with your provider and read the relevant policy documents to understand the details of any relevant car excess cover.
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Bendigo Bank's Platinum Rewards
Some Australian credit cards do offer car rental insurance, but the coverage varies across providers. It is important to read the fine print and understand the details of your credit card's insurance policy.
Now, let's focus on Bendigo Bank's Platinum Rewards card. Bendigo Bank offers a Platinum Rewards Mastercard with added insurances, purchase protections, exclusive offers, and a rewards program. The card provides complimentary rental vehicle excess insurance of up to $5,000 for global hire car excess. This insurance is provided through a partnership with Allianz Global Assistance and is accessible to eligible Bendigo Bank cardholders.
It is important to note that the insurance coverage is subject to eligibility criteria, terms, conditions, exclusions, limits, and applicable sub-limits. These details can be found in the Bendigo Credit Card Insurance Terms and Conditions, and Bendigo Bank does not guarantee any benefits under this insurance.
In addition to the insurance benefits, the Platinum Rewards card offers up to 55 days of interest-free purchases. This period includes your 30-day statement cycle and an additional 25 days until the payment due date. The number of interest-free days may vary for each transaction, depending on the day of purchase within the 30-day statement cycle.
The Bendigo Bank app provides convenient banking features such as quick login with biometric authentication or a four-digit PIN. It also allows you to view balances without logging in and facilitates easy bill payments through PayID®, Osko, and BPAY. You can add your card to Apple Pay or Google Pay directly from the app.
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Credit card exclusions
- Vehicle Type and Size: Some credit card rental insurance policies may not cover certain types of vehicles, such as large vehicles like 8-seaters or exotic cars. Be sure to check if your chosen rental vehicle is eligible for coverage under your credit card policy.
- Rental Duration: Credit card rental insurance typically has coverage limits based on the rental duration. For example, Visa generally covers rentals for 15 consecutive days in your home country or 31 days outside of it. Exceeding these limits may result in a loss of coverage.
- Rental Location: Certain countries or regions may be excluded from your credit card's rental insurance coverage. For instance, standard Visa and Mastercard coverage often excludes rentals in Israel, Jamaica, and Ireland. Check the geographical limitations of your credit card policy to ensure your rental location is covered.
- Driver Eligibility: Credit card rental insurance usually applies only to authorised drivers. Driving under the influence, driving without a valid licence, or using the vehicle in breach of the rental agreement may void the insurance coverage.
- Vehicle Damage: Most credit card rental insurance policies have specific exclusions for certain types of vehicle damage. For example, damage to tyres, windscreens, the underbody, or the roof may not be covered. Be sure to review the policy's limitations regarding the types of damage covered.
- Off-Road Driving: Many credit card rental insurance policies exclude claims related to off-road driving or driving on unsealed roads. Check the policy's terms to understand if there are any restrictions on the type of roads or terrain you can drive on while maintaining coverage.
It is essential to carefully review the specific exclusions and limitations outlined in your credit card's rental insurance policy. Contact your credit card company or refer to their official website for detailed information on what is covered and what is excluded. Understanding these exclusions will help you make informed decisions when renting a car and ensure you have the necessary coverage in place.
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Frequently asked questions
Some Australian credit cards do include car rental insurance, but the coverage varies. It is important to read the fine print and understand the terms and conditions.
Car rental excess insurance covers your excess costs if your hire car is stolen or damaged in an accident. It is designed to cover the excess you'd otherwise be required to pay.
ANZ Visa Platinum Card, Bendigo Bank's Platinum Rewards, and Platinum Qantas credit cards are some examples of Australian credit cards that offer car rental excess insurance.
It is important to check with your credit card provider to understand the extent of the coverage, as some companies offer comprehensive rental car insurance while others offer the bare minimum. Additionally, certain exclusions may apply, such as tyre, windscreen, roof, or interior damage.
To access complimentary rental vehicle excess insurance, you must charge the total car hire cost to the eligible credit card and follow the terms and conditions outlined in the policy booklet. It is important to keep all records and receipts from the rental company and understand any exclusions or limitations.
