Rental car insurance excess cover

[Soundguy]

I thought I read here somewhere that the Earth Platinum credit card includes rental car insurance excess cover, but I can't find the post and the Earth website doesn't appear to mention this so I guess I was mistaken.

I know the AMEX platinum charge card offers this cover but does any other Australian credit card - preferably a Mastercard or similar?

I am looking for a replacement for my Westpac Gold Altitude MC, not expecting much in the way of points from a MC but I thought this feature would at least save me a few $ each year in purchasing separate cover. I am currently paying for cover via the British based 'Insurance 4 car hire' but this doesn't cover vehicles rented locally, not to mention the cost increasing as our dollar plummets....

 

[oz_mark]

ANZ cards have an option for $24 per year getting car rental cover. One of the cards has it thrown in, but for the life of me, I can't see which one it is at the moment.

 

[Evan]

ANZ cards have an option for $24 per year getting car rental cover. One of the cards has it thrown in, but for the life of me, I can't see which one it is at the moment.

I think its the Qantas Platinum Visa. But its rather points limited earning
E

 

[drron]

Just be very careful with the fine print-both DC and Citi plat used to offer this benefit but it was excess after all receipts from other insurance-ie you had to accept all the rental companies insurances before cover would kick in-ie next to useless.

 

[opusman]

ANZ Gold cardholders are automatically covered by ANZ Car Rental Cover at no additional cost. Please note this excludes ANZ Frequent Flyer Visa Gold, ANZ Frequent Flyer Visa Platinum and ANZ Rewards Visa Gold

Well worth the $24 IMHO although I haven't actually tried claiming on it yet

 

[russ]

Car insurance excess cover is completely overpriced. Given that they don't ask you any underwriting questions in order to price it (eg "what is your accident history") they need to price it for the worst risk possible.

Of course it's now included in many credit cards, but prior to that, I always refused it and have saved a bucket-load over the years!

 

[oz_mark]

I had a look at the Earth platinum inurance guide and it is listed in that guide
http://www.earth.com.au/pdf/Earth_Platinum_Insurance_Conditions.pdf

see page 44.

 

[docjames]

Of course it's now included in many credit cards, but prior to that, I always refused it and have saved a bucket-load over the years!

+1 to that
I'm now covered by Plat Amex, but you're essentially self-insuring the $2500-$3000 - drive enough without a claim and you've saved the "self-insurance" cost anyway

 

[Alanslegal]

I think its the Qantas Platinum Visa. But its rather points limited earning
E

For ANZ products, only the ANZ Gold card comes with complimentary Car Rental Cover excess coverage up to $2400 - where you pay the first $350 of any claim.

The ANZ Qantas Platinum Visa does not come with this complimentary but you can pay $24 p.a for the cover. I know because I just activated my the Car Rental cover for my ANZ QF PLTcover about an hour ago

 

[markis10]

As mentioned previously in other threads, "excess" is a definition that needs to be closely checked in your PDS, as hire companies have CDW and LDW, many suppliers of such insurance may not class as an "excess" LDW and only cover CDW coverage, which is not much help if you need to make a claim for damage not involving a colision such as hail or storm damage.

 

[Soundguy]

Thanks folks, that is really helpful!

Just reading the Earth Plat conditions and it says "the hiring agreement must incorporate the standard comprehensive motor insurance normally provided by the rental agency covering loss or damage to the rental vehicle"

If I understand it correctly all rental vehicles include comprehensive insurance automatically, the issue is only the level of excess on that insurance. So if I choose not to pay the rental companies $20 per day offer to reduce the excess the Earth Plat insurance should cover the gap up to $5500 right?

And in order to get the 20,000 bonus QFF points on offer it looks like I would need to pay off and cancel my current Altitude Gold card then take up the Earth Plat offer as existing Westpac card holders are excluded....?

 

[JohnK]

I don't hire a car that often but I am covered for rental vehicle insurance excess with a Travel Insurance Direct yearly policy. I think the excess cover is up to $4,000, which more than covers most rental vehicle excesses, and no excess payable on the claim.

 

[NM]

I don't hire a car that often but I am covered for rental vehicle insurance excess with a Travel Insurance Direct yearly policy. I think the excess cover is up to $4,000, which more than covers most rental vehicle excesses, and no excess payable on the claim.

Does this cover require you to pay the rental car company all heir insurance options, including excess reduction if offered, before the travel insurance cover is valid? In many cases, this can make travel insurance cover for rental car excess not so attractive as you have to pay quite a bit extra for each rental to be eligible.

 

[serfty]

I don't hire a car that often but I am covered for rental vehicle insurance excess with a Travel Insurance Direct yearly policy. I think the excess cover is up to $4,000, which more than covers most rental vehicle excesses, and no excess payable on the claim.

Being very familiar with TID and it's PDS I'll simply note that this works well in Oz and NZ.

However, this provides little or No cover in the USA or Europe for most rentals.

 

[JohnK]

Does this cover require you to pay the rental car company all heir insurance options, including excess reduction if offered, before the travel insurance cover is valid?

No. All it requires is CDW/LDW which in Australia and New Zealand are included in the standard car hire rate. I have no intention of hiring a car outside of Australia and New Zealand so this policy suits me perfectly.

 

[Ric]

Being very familiar with TID and it's PDS I'll simply note that this works well in Oz and NZ.

However, this provides little or No cover in the USA or Europe for most rentals.

serfty,
Can you expand on this a bit? (Can't find my printout at the moment.) Am with TID and was happily driving miles and miles in US and Canada thinking that I am fully covered!!!
Ric

 

[serfty]

View the complete Combined Financial Services Guide and Product Disclosure Statement -

• HTML
• PDF

We will pay you for the Rental Vehicle Insurance Excess if you rent a vehicle which is damaged, stolen or if it is involved in an accident. We will only pay if you have a written rental agreement from a licensed rental company. This Benefit does not cover motorcycles.

The base limit for all policies is $4000.

There must be some form of insurance that has such an excess for this to be pertinent. Most Rentals in Oz and NZ have this built in with an excess in the thousands. A hirer may be able to pay an excess reduction fee to lower this to the hundreds, with TID you do not need to do this.

Now, lets have a look at renting a car for a day in the USA, say Hawaii.

Base cost for a Chevrolet Aveo from Alamo is $33.95 (All costs are USD from here on).

Insurance related optional extras are:

• Collision Damage Waiver (Full) $22.99/Day (Full cover to the vehicle you rent)*
• Extended Protection $12.95/Day (3rd party property/person)

TID provides no cover for either of these items. Note that many US credit cards provide these type cover when used to pay for hire of the vehicle. Alos, TIS will cover you for personal injury in a vehicle accident as per the policy.

*Full cover to the vehicle you rent:

Collision Damage Waiver Full

• It's really simple! If you decline CDW, you agree to pay Alamo for all damage to or loss of the rental car up to its total value, regardless of who is at fault. You also agree to pay any Alamo administrative and loss of use charges due to Alamo's inability to re-rent the car before it is repaired or replaced. Alamo can elect not to repair the car, in which case you pay us the retail value of the car before it was damaged, less any salvage amount we collect.
• If you accept CDW, Alamo agrees to waive all of your responsibility for such loss or damage to the car. CDW is void only if any "Prohibited Uses and Violations" occur, as outlined in our rental agreement terms and conditions; if you leave the keys in the car and it is stolen, or if you do not promptly report an accident, damage or theft to Alamo.

 

[simonk83]

Hi all,

I'm pretty confused right now Basically, we're off to Hawaii in April/May for our honeymoon and will be renting a car while there.

Now, I have an ANZ Gold card, which comes with the Car Rental Cover, but I'm a little unclear as to whether it actually applies overseas or not. I've called them a few times and gotten a different answer each time, which obviously doesn't help

I have made a tentative booking through Alamo (actually went through the Costco site, and ended up getting a discounted rate which works out to $166AUD for 5 days hire. Pretty good!).

Is anyone able to shed any light on this ANZ Car Rental cover, and if I'm NOT covered, what's my cheapest alternative?

Thanks so much!!!

Simon

 

[ozpete]

Based on my own experience with car rental in the US.

1. TID did cover an excess - well they were prepared to but in the end didnt need to. BUT It's wise for you to call TID to confirm this is correct. Better than the well meaning but no responsible advice here
2. US car insurance requirements are different - and also different in each state.
3. In California they have a sort of compulsory insurance but this is woefully inadequate called Primary Liability Cover viz

$15,000 for injury/death to one person
$30,000 for injury/death to more than one person
$5,000 for damage to property

This is provided by the rental company.

After that YOU are liable. Now if you are a US resident with a US car policy then you are most often covered with a rental agreement - if you are not then you would be wise to get SLI - supplemental Liability insurance which providers $1mill in cover. THIS is not CDW its really similar to our 3PP insurance.

So when in Ca I used to just cough up for the SLI and used TID for the CDW excess. BUT remember $A4K is more $US2.5K - In my case I could sign up under the AARP which gives via most companies the following

Enhanced Primary Liability Coverage - $25,000/$50,000/$10,000

Maximum Responsibility Cap – For damages to the rental car if you decline the collision/loss/damage waiver. This is capped at $US5,000.00.

Note there is still a $US2.5 Excess shortfall. In my opinion TID offers one of the highest excess covers at $A4K and thats even not enough. (My trip 2 years ago National under AARP the cap was $US3K, but this has now changed to the 5K)

As for Hawaii you'll have to do your own research but above may help you get on right track.

Hope this helps