If you are the holder of a Visa Classic, Secured, Gold, Platinum or Signature Card then you may well want to know about the auto rental collision damage waiver program offered by Visa.
As the name suggests, essentially the program offers cardholders collision and theft coverage, at no additional charge, on a 24-hour basis, for any damage due to a collision of theft up to the cash value of the rental vehicle. Included are:
- physical damage and theft;
- valid loss of use charges imposed by the rental agent;
- reasonable towing charges.
However, central to being able to benefit from this wonderful free package is that:
- you (as the driver of the vehicle) pay for the entire rental transaction on your Visa card; and
- that you decline any collision damage wavier option offered by the rental company.
In other words, this is an alternative and not and addition program. So you must make sure you opt out of the rental company scheme if you are paying for the car rental with your Visa card.
Also, keep in mind that if you violate the terms of your rental agreement in any way, then the Visa’s collision damage waiver program is null and voided – so make sure you read the terms of your rental agreement carefully before driving off!
Should you have an accident and need to claim on the program’s coverage then you need:
- a copy of the accident report;
- a copy of the car rental agreement;
- a copy of the repair estimate;
- 2 photographs of the damaged car;
and
- (where required) a copy of the police report.
So, if you are a Visa cardholder and want to take advantage of a great free benefit, then just remember to inform your rental car agent that you are going to be paying for your rental on your card and would like to opt out of their collision damage waiver program – assuming they have one. Having done this, drive safely and within the terms of your rental agreement, but safe in the knowledge that should anything go wrong Visa will be there to help you out!
