Car Rentals and Credit Card Insurance

  • Last Updated:
  • Aug 7th, 2019 6:56 pm
May 2, 2014
450 posts

Car Rentals and Credit Card Insurance

Hello... i rent cars from the typical chains (avis, budget, etc) to visit different places, i am talking about places within a 5 - 8 hour drive from me.

Question 1: Should i pay the 30/day loss damage waiver insurance? i typically do purchase it because i have no car insurance of my own and my credit card does not offer insurance. i have President Choice master card. Since i am not covered elsewhere, i decide to play it safe and by the car rentals insurance. i believe this insurance does not cover me for the first $500.

Question 2: should i enroll onto a credit card that provides free auto insurance? is there a credit card i can sign up for with no annual charges but that also offers car rental insurance if i use said car to purchase the car rental?

thanks :)
3 replies
Deal Addict
User avatar
Oct 25, 2009
4329 posts
There is no deductible.

Preferred Home Trust. Non-Quebec only. The card doesn’t have contactless payments and “only” gives 1% back. But appart from that it is OK. ... /#benefits

Amex dropped the rental benefit from their free Simply Cash card in January, however, their
Simply Cash Preferred Amex could be worth the 100$ fee if you need out of province travel health insurance (check you employee benefits). Gives 2% cashback. ... preferred/

By the way, Avis and Budget are the same company.
Hertz = Thrifty = Dollar
National = Enterprise = Alamo
Toronto is a very small part of Canada
User avatar
Nov 7, 2017
316 posts
Rogers Bank WEMC, Canadian Tire Triangle WEMC, MBNA Credit Card
They all no fees but have Car Rental Collision/Loss Damage Waiver Insurance
Deal Fanatic
User avatar
Nov 23, 2005
8874 posts
Many cards provide the CDW coverage. If you decide to rely on that, please make sure you read your cards coverage fully, and are taking advantage of it correctly, so you don't get stuck with a surprise.

Ps. Many don't insure cars over $60k, pickups or vans over 8 passengers.


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