When renting a car, it’s not uncommon to pay $20 or more every single day for the privilege of insuring the car. But with certain credit cards, you no longer have to pay for that ridiculous expense.
The Chase Sapphire Preferred credit card offers Primary Auto Collision Damage Waivers on all rental vehicles in the United States. That means if the rental car gets damaged, Chase will pay for the damages. Of course, you need to file an insurance claim through the
Eclaims Line within 60 days of the incident, or Chase won’t pay for the damages. Nonetheless, this perk can save you some significant coin.
Is this perk too good to be true? Not according to the Luxe Strategist. During a vacation, her rental car was somehow dented. The repair costs (according to the rental company) exceeded $6000.
The Luxe Strategist explained, “I doubted that a small dent could cost over $6,000. But that was besides the point. What was more pressing was that the charges landed smack dab on my credit card statement and would accrue 20% interest if I didn’t pay the bills in full.”
While she made some mistakes in failing to file the claim (thankfully, the rental company filed the claim within the 60 day window), Chase ultimately refunded the full $6,000 repair bill.
With a sign up bonus worth $750, and the best rental coverage on the market,
Chase Sapphire Preferred is the perfect card for booking a rental vehicle. Just be sure to pay off the credit card in full each month. Interest rates are as high as 25% and with interest rates that high, the money you’re saving on insurance costs are not going to be worth it if you’re not paying your bill.
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