Bank Of America Travel Rewards Visa Signature Rental Car Insurance
Traveling can be a lot of fun, but there are always risks involved. One of the biggest concerns for travelers is the possibility of a car accident. Rental car insurance is essential for every traveler, and many credit cards offer this as a benefit. Bank of America Travel Rewards Visa Signature is one such card.
What is Bank of America Travel Rewards Visa Signature?
Bank of America Travel Rewards Visa Signature is a credit card that offers a wide range of travel benefits. It is a rewards card, which means users can earn points on every purchase. These points can be redeemed for travel purchases, such as flights, hotels, and car rentals. This card also offers rental car insurance as a benefit.
What is Rental Car Insurance?
Rental car insurance is a type of insurance that protects the renter and the rental car in case of an accident. It covers damages to the car, as well as any injuries sustained by the driver or passengers. Rental car insurance can be purchased from the rental car company or through a credit card.
What does Bank of America Travel Rewards Visa Signature Rental Car Insurance Cover?
Bank of America Travel Rewards Visa Signature Rental Car Insurance covers the cost of damages to a rental car if the car is damaged or stolen. This insurance is known as the Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW). It does not cover injuries sustained by the driver or passengers, or damages to other cars or property.
The CDW/LDW coverage provided by Bank of America Travel Rewards Visa Signature is secondary. This means that if the renter already has primary coverage through their personal insurance policy, that policy will be used first. If the renter does not have primary coverage, then the CDW/LDW coverage provided by Bank of America will be used.
How to Qualify for Bank of America Travel Rewards Visa Signature Rental Car Insurance
To qualify for Bank of America Travel Rewards Visa Signature Rental Car Insurance, the following conditions must be met:
- The renter must be the primary cardholder and must use their Bank of America Travel Rewards Visa Signature card to pay for the rental car.
- The rental car must be rented for personal use and not for business purposes.
- The rental car must be rented for a period of 15 consecutive days or less.
How to Use Bank of America Travel Rewards Visa Signature Rental Car Insurance
If an accident occurs while using Bank of America Travel Rewards Visa Signature Rental Car Insurance, the renter must take the following steps:
- Contact the rental car company and report the accident.
- Contact the Bank of America Travel Rewards Visa Signature rental car insurance provider at the phone number provided on the back of the card.
- Provide the necessary information, such as the date and time of the accident, the rental car company, and the rental car contract number.
- Submit any required paperwork, such as a police report or damage assessment report.
Conclusion
Bank of America Travel Rewards Visa Signature Rental Car Insurance is a valuable benefit for travelers who rent cars. It provides protection in case of an accident and can save renters money on insurance fees charged by rental car companies. However, it is important to understand the coverage and qualifications for this benefit in order to use it effectively.
