I have TD gold select visa card which covers Auto Rental Collision/Loss Damage Insurance. I want know did anybody rent a car on credit card.

Did something happen with car and credit card company payback the full amount. I am still doubt there must be something restriction.

I called TD visa bank to make sure they told me.

- you have to decline the damage/loss from the rental company
- worth of the card should not be more than 64,000
- Heavy vehicle is not allowed.
- You have to have third party liability which I have already with my own car.

Please share with me. Is it ok to rent a car on credit card.........Anybody has experience on it.

Please read through this article. It gives you some idea about the current trend.
http://www.creditcards.com/credit-card-news/rental-car-credit-card-protections-vary-1273.php

The last time I rented Enterprise rental car, I took additional coverage from them for a few additional dollars that covered all of the scratches, dents etc., It was for a peace of mind.

Also remember, when you drop the card on their counter, if there is a total loss, they will hit your card first and take a lot of the money out of it and then they will pay it back after all of the claims etc., are squared off with the Credit Card Company and the Insurance that they say they give you when you use their card.

That is their insurance, and they make sure that you BOTH are on the HOOK till all of the claims are settled.

For Corporate usage, go for it. Other short term rentals, be wise and use your judgment.

WOW!!!

Freddie.

Hi,

Yes I rented a car and refused the insurance from Enterprise. I had a gold card so I refused the insurance.

While driving back from a business meeting (Sudbury), I managed to scratch the car (Jeep Laredo) and also completely damaged the driver side mirror. The car dealers insurance called me three weeks later and informed me that the total bill was approx $300/-. I had already told TD insurance that I had damaged a rental car and had taken a case number from them. I provided all the details to the car dealers and they took it from there.

I wasnt harassed or asked any other questions. In terms of a catch, well you need to be in good terms with your credit card company, in the sense pay your bills on time. When doing an insurance assessment they will consider your past 6 months bills. If you have been paying off the minimum required on your credit card and have never missed a payment for the past six months. You are in good standing.

Also make sure you keep a copy of all receipts. Once you call TD insurance with your accident details, they will send you the necessary forms to fill and submit. You have to submit your Credit card bill that shows the entire record of charge, your rental agreement that shows you refused their insurance, any other documents etc.

Another catch is if the damange to the car is beyond $1000 dollars you have to file for a police report that has to sent along as well.

Good luck

There may be several catches with credit card coverage for rental insurance, even with the best of cards.
Some that I can think of:
- Check whether it requires you to be the only driver, or does it cover multiple drivers?
- Check whether damage as a result of at-fault or partial-fault accident in covered or not.
- Check the duration of rental allowed. Some credit cards do not cover long-term rentals i.e. more than 30 days
- Check what other fees (such as "loss of use" ) is covered or not
- Check geographical coverage for example, driving out of province, driving to the US etc.
- Rentals out of the continent i.e. rentals in Europe are rarely covered unless you have a high end premium card or a corporate card.

Read the fine print and the super fine print of your credit card contract before you decide what to do.

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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

I rented a car from Enterprise in 2008 and got into an "at-fault" accident casuing the car to be totalled (am lucky to be alive and unhurt). I had declined ALL insurence from Enterprise.

Immediatley after the accident, I called Enterprise (so they arranged for towing, etc and opened a ticket for paperwork) and then Visa (number at the back of card) - immediately, I was transferred to their auto-insurence agent who took all details and opened a claim file. Enterprise put a $500 hold on my card, refunded the unused rental period fees (nice of them) and within a week, I got calls from Enterprise insurence person for additional details and explaining how they will proceed with the case. I also got paperwork for all the bills, costs, etc. (towing/storage, car cost, etc.). Visa also sent me a claim form to which I had to attach the paperwork from Enterprise, my card details, license copy and police report and send the claim form back to Visa. Nothing happened for a month so I kept calling Visa and Enterprise - they asked for some additional paperwork (e.g. subrogation papers from Enterprise, etc. - apparently Visa and Enterprise did not communicate that well with each other) and a detailed police report (not the one that you get on the spot - this cost me about $50 - which technically Visa would refund). Then, with 2 weeks the claim was settled directly by Visa with Enterprise and my $500 hold was released. I was not required to pay any deductible either.

All in all, minimum hassles and a decent experince. Considering that I have been renting cars for several years now, and relying on Visa-provided insurence, I have saved $$$. So, in short, yes, you can rely on Visa.

Please note that by law, car owner (rental company) always has "liability" insurence - as a renter, you do not need to purchase that.

Also, many rental companies might charge extra for roadside assistance (lost car keys, empy gas tank, and such non-mechanical, user-dependent errors) and usually they may offer a cheap insurence for this (I know Budget does for sure). You may want to consider this if you are travelling in remore locations or just are a forgetful person.

Hope this helps - and you -or anyone reading this may never need to use any insurence.

All the best.