Bank Of America Travel Rewards Car Rental Coverage
Are you planning a trip soon and need to rent a car? If you have a Bank of America Travel Rewards credit card, you may be eligible for car rental coverage. This benefit can save you money and provide peace of mind while you're on the road. In this article, we'll give you all the details on Bank of America car rental coverage, including what it covers, how to use it, and more.
What is Bank of America Travel Rewards Car Rental Coverage?
Bank of America Travel Rewards credit cardholders are eligible for car rental coverage from Visa. This benefit provides coverage for physical damage and theft of most rental vehicles when you pay for your rental with your eligible card and decline the rental company's collision damage waiver (CDW) or similar option.
It's important to note that car rental coverage is not the same as car insurance. Car rental coverage is a type of secondary coverage that provides additional protection when you rent a car using your credit card. It typically covers damages or theft of the rental car, but it does not cover bodily injury or liability. If you're involved in an accident while driving a rental car, you'll still need to rely on your personal car insurance policy to cover any damages or liability.
How to Use Bank of America Travel Rewards Car Rental Coverage
To use your Bank of America Travel Rewards car rental coverage, you'll need to follow a few guidelines:
- Pay for your rental car with your eligible Bank of America Travel Rewards credit card
- Decline the rental company's collision damage waiver (CDW) or similar option
- Make sure all drivers of the rental car are listed on the rental agreement
- Keep all original receipts and rental agreements in case you need to file a claim
If you do need to file a claim, you'll need to do so within 45 days of the incident. You'll also need to provide documentation of the incident, including the rental agreement, rental company's damage estimate, and a copy of your credit card statement showing the car rental charge.
What Does Bank of America Travel Rewards Car Rental Coverage Cover?
Bank of America Travel Rewards car rental coverage provides reimbursement for physical damage and theft of most rental vehicles, up to the actual cash value of the vehicle. This includes:
- Collision damage
- Theft
- Vandalism
- Fire
- Flood
However, there are some limitations and exclusions to the coverage. For example, it does not cover:
- Injuries to people or damage to property outside of the rental car
- Antique or exotic vehicles
- Trucks, motorcycles, and other vehicles with more than four wheels
- Rentals that exceed 15 consecutive days in your country of residence, or 31 consecutive days outside your country of residence
- Losses resulting from intentional acts, racing, or driving under the influence of drugs or alcohol
Do You Need Additional Car Rental Insurance?
While Bank of America Travel Rewards car rental coverage is a valuable benefit, it may not provide all the protection you need when renting a car. There are several other types of car rental insurance that you may want to consider:
- Liability insurance: This covers damages or injuries you cause to others while driving the rental car. It's usually required by law and may be included in your personal car insurance policy.
- Personal accident insurance: This covers medical expenses for you and your passengers if you're injured in a rental car accident.
- Personal effects coverage: This covers loss or theft of personal items in the rental car.
Before you rent a car, it's important to review your personal car insurance policy and credit card benefits to see what coverage you already have. You should also check with the rental car company to see what insurance options they offer and what their requirements are.
Final Thoughts
Bank of America Travel Rewards car rental coverage can be a valuable benefit for travelers who rent cars frequently. It provides additional protection and can save you money by allowing you to decline the rental company's collision damage waiver. However, it's important to read the fine print and understand the limitations and exclusions of the coverage. Before you rent a car, review your personal car insurance policy and credit card benefits to make sure you have the coverage you need.