What to know about Chase Ink car rental insurance
Quick insights
- Some consumer and business credit cards offer rental car insurance as a benefit for cardmembers.
- The coverage is usually an auto rental collision damage waiver, which provides reimbursement for damage due to collision or theft.
- Chase Ink Business® credit cards provide rental car insurance as part of their cardmember benefit program.
Car rental insurance is one example of a credit card benefit that comes with certain business and consumer credit cards. If you’re a Chase Ink Business® cardmember, you get a form of rental car coverage as a benefit. The coverage could allow you to avoid paying your auto insurance deductible if your rental car is damaged.
Read on to learn about rental car insurance through a credit card.
Auto insurance protection with a credit card
Credit cards may come with pros and cons. One pro is that some credit cards like Chase Ink and consumer credit cards give their cardmembers access to auto insurance protection. The cards that offer this protection often fall into the travel rewards card category.
The coverage is typically an auto rental collision damage waiver, which may reimburse you for theft or collision damage. To be eligible for this coverage, you usually need to decline the rental company’s collision insurance and charge the entire cost of the rental to your card.
Sometimes this is offered as a form of secondary coverage, which means it pays out after your personal auto insurance. You’ll need to first file a claim with your auto insurer, and once it pays out, you’ll submit a claim through the credit card’s insurance. The secondary protection could potentially pay for expenses like your insurance deductible or other costs not covered by your insurer. A select few credit cards—including Chase Ink—offer primary coverage.
The auto rental collision damage waiver is often the most expensive insurance that rental car companies offer. A credit card with this car rental protection typically allows you to skip this purchase.
How primary car rental insurance coverage works with a credit card
Business credit cards offer many benefits for business owners. If you’re interested in getting a business credit card, consider how it could potentially help in the following ways.
- Some business owners may find that the credit card application and approval process is faster than applying for a loan.
- Business credit cards sometimes offer business-friendly features, such as complimentary employee credit cards and comprehensive expense tracking software.
- A credit card is a widely accepted payment option and could be a quick and convenient way to pay some of your vendors.
- Business credit cards typically offer a higher credit limit than consumer credit cards.
- Responsible use of a business credit card may help you build your business credit score, which could potentially help you access higher lines of credit and lower interest rates in the future.
Some business cardmember benefits that come with a business credit card
Some credit cards provide car rental insurance that serves as primary coverage. Primary coverage may be valuable because it allows you to bypass your auto insurance and pays for eligible damage to your rental car. You typically won’t need to involve your insurer or pay your insurance deductible. That could potentially help you avoid a rising insurance premium.
In some cases, secondary credit card coverage may become primary coverage. For example, if you don’t have an auto policy or your rental isn’t covered by your policy, your secondary credit card coverage could become your primary coverage.
Since coverage can vary among credit cards, you may want to call the number on the back of your credit card or review the card’s Guide to Benefits to find out what’s included.
Chase Ink car rental insurance benefits
As a complimentary benefit, Chase Ink business credit cards offer rental car insurance that provides primary coverage. That means that you can file a claim directly through your Chase Ink coverage without first submitting it to your personal auto insurer.
You’ll need to use the car for business purposes, decline the rental company’s coverage and pay for the rental with your Chase Ink card to be eligible. The policy may provide reimbursement for eligible theft or collision damage.
This coverage is one of many ways a business credit card could benefit you. If you think this cardmember benefit could help your business, it might be a good first step to learn how to apply for a business credit card.
How to file a Chase Ink car rental insurance claim
If theft or damage occurs, report your claim to the Benefit Administrator within 60 days of the incident. You can find the Benefit Administrator’s contact information by reviewing the Guide to Benefits or contacting the number on the back of your credit card.
You’ll likely need to submit documentation with your claim. Here are some of the documents you could be asked to provide:
- Signed Auto Rental Collision Damage Waiver Claim form
- Copy of your receipt or billing statement showing your car rental charged to the eligible card
- Written statement from employer verifying that the rental was for business purposes
If you’re a business owner interested in credit card rewards, perks and benefits, such as car rental insurance, explore these Chase business credit cards to find an option that aligns with your business needs.
In summary
Some consumer and business credit cards provide rental car insurance as a travel benefit. A percentage of these cards, including Chase Ink Business cards, offer this insurance as primary coverage. That means cardmembers may not need to involve their insurer or pay a deductible if eligible damage occurs.
