What does the collision damage waiver cover?

What does the collision damage waiver cover?

The collision damage waiver affords protection to the renter of a vehicle that covers damages to the rental vehicle. The CDW covers damage from theft, vandalism, and traffic accidents, but rarely covers bodily injury liability caused by a traffic accident, per SmartTravel.

Do Bank of America credit cards have car rental insurance?

Many credit cards, including all Bank of America consumer credit cards, offer some insurance for car rentals. (This coverage is secondary if you have an existing personal auto insurance policy.) Call your card issuer, or review your card benefits guide, to find out about the specific terms, conditions and exclusions.

Do I need to buy additional insurance when renting a car?

You might not need to buy extra car insurance from the rental car company. That’s because the coverage on your personal auto policy may extend to a rental car. If you have that on your personal policy, it may help pay to repair the rental car if it’s damaged in a collision. Again, a deductible will apply.

How much does it cost if you damage a rental car?

Normal costs are $10 – $30 per day for economy vehicles, or 25% – 40% of the base rental price. The table below provides the daily cost of a damage waiver from different rental car companies at different locations. The price you are quoted may differ, so it’s best to shop around and read your rental agreement.

Do you get collision waiver with Bank of America credit card?

Bank of America offers an auto rental collision damage waiver with the Bank of America® Premium Rewards® Credit Card. It also offers the benefit with its other cards, albeit on a case-by-case basis. If you’re unsure whether your card offers an auto rental CDW, contact BofA to make sure.

What does collision waiver do for car rentals?

The auto rental collision damage waiver benefit provides reimbursement for damage due to collision or theft, up to the actual cash value of most vehicles. Usually, only physical damage and/or theft of the rental vehicle is covered.

What can Bank of America credit card do for You?

Rental car protection and road assistance When renting a car, you can decline the collision or loss damage waiver offered by the car rental carrier, because your qualifying Bank of America credit card covers auto rental collision damage waiver. This perk provides you reimbursement for damage due to theft or collision of your rental car.

How to decline rental car coverage with Bank of America?

Decline the coverage offered by the rental car company. Pay for the entire rental with your Bank of America card. If the rental company’s representative says you must purchase coverage, call the support number on the back of your BofA card and asked to be transferred to the collision damage waiver benefit administrator.