One of the benefits of the Chase Sapphire Preferred Visa Card is secondary insurance that covers damage to your rental vehicle. Instead of paying upwards of $30 a day, the Chase Sapphire can cover damage to your rental car.
This option hasn’t gotten a ton of love, mostly because it is secondary. Your primary insurance would cover an accident. If you have a deductible your car insurance would make you pay to cover an accident, that kicks in first, so there would be an immediate cost. Your primary covers the first part of the cost (up to what they cover), then the rest gets covered by Visa. But the great side of this is if you do not have insurance.
The coverage becomes primary if you do not have any other coverage.
So how are you covered through this? You are covered for damage to the car you are driving. This includes damage from catching a column in a parking garage or damage to the rental car vehicle in an accident.
It Does Not Cover Liability
It does NOT cover the damage to another person’s car or liability for injuries to other people.
For this reason, even though there is some liability insurance built into some rentals, I always select the Personal Liability option (not all coverage is there as a trick!)
What you want to do with personal liability is ultimately up to you, but here’s a guide to things you need to worry about (ignore his rant about the credit card companies, Chase Sapphire does not do those things unless you rent a huge van or other unlikely rental car options). I personally would never decline it. It has a few different names for different rental car companies, so look for the keyword “liability” under the descriptions.
Just remember these steps if you are using the Chase Sapphire Rental Car Insurance Benefit as an Uninsured Drive:
1. Decline Damage Waiver. If you are uninsured, select the extended liability option. The names will be different based on where you are renting, so read to make sure you are getting personal liability.
2. Call the Cops if you get into an accident. You need that police report.
3. Actively reach out to Chase’s service (it really is through Visa) to document and start the case. Reach out to the rental car company if you also got insurance through them.
4. Wait and send them any documents they ask for in a timely manner.
And you’re done! There’s a little bit of paperwork, but it is relatively painless.