Credit Card Feature: Car Rental Insurance Cover

Information verified correct on January 23rd, 2017

Car rental insurance can add a lot of cost to your budget.

You might not realise that you can also get coverage from your credit card company. This cover is usually much cheaper but just as dependable as that offered by the car rental company.

Car rental insurance is confusing. You know how it feels when you get to the counter and the clerk starts asking you about your current auto insurance and about what extra coverage you need. They offer all kinds of different insurance upgrades to cover the vehicle. Things like collision damage waivers, loss damage waivers, and personal accident insurance are just a few of the titles they throw at you in an effort to get you to upgrade to their insurance coverage. You might be tempted to just decline the coverage and cross your fingers that nothing bad happens while you have a rental car.

The fact of the matter is that bad things do happen. When they do you will probably wish you had car rental insurance. You might be sadly surprised to find out that your personal auto cover does not provide enough coverage for the costs of a rental car incident. In this unfortunate situation you stand liable for significant costs to pay for damage to the vehicle, personal property, and even injuries. These costs could end up in the thousands of dollars range if not more. One of the options you might not be aware of is optional rental car insurance that is offered by your credit card. ANZ has an excellent program that makes it a little less stressful to rent a car. The insurance reduces your out of pocket expense to a maximum of $350 for damage to the vehicle. If you have an ANZ credit card, all you have to do is call them to ask about the program. The annual fee is only $24, far less then those upgraded insurance programs that the rental car companies offer.

ANZ Platinum Credit Card

Credit Card with Car Rental Insurance Cover

A low interest rate credit card offer with a low annual fee.

  • $0 p.a. annual fee for the first year ($87 p.a. thereafter) annual fee
  • 19.74% p.a. on purchases
  • 0% p.a. for 16 months with 2% balance transfer fee on balance transfers
  • Cash Advance Rate of 21.49% p.a.
  • Up to 55 days interest free
  • Minimum Income Requirement of $35,000 p.a.

Comparison of Credit Cards with Car Hire/ Rental Vehicle Excess Insurance

Rates last updated January 23rd, 2017.

St.George Amplify Platinum

Purchase rate offer has been changed to 0% p.a. for 6 months and is valid until 30 March 2017

January 5th, 2017

St.George Vertigo Platinum

Purchase rate offer has been changed to 0% p.a. for 6 months and is valid until 30 March 2017.

January 5th, 2017

Westpac Altitude Black - Exclusive Offer

Exclusive online offer of 100,000 bonus Altitude or Qantas Points extended until 28 February 2017

January 6th, 2017

View latest updates

Jonathan Choi Jonathan
Purchase rate (p.a.) Balance transfer rate (p.a.) Annual fee
HSBC Platinum Credit Card
Receive a full annual fee refund and save $149 if you meet the $6,000 spend requirement. Enjoy a balance transfer offer and platinum card benefits such as complimentary insurances and concierge services.
19.99% p.a. 0% p.a. for 15 months $149 p.a. Go to site More info
American Express Platinum Card
Receive 100,000 Membership Rewards Bonus Points when you meet the minimum spend requirement and earn up to 3 points per dollar spent. Gain access to travel insurance, $300 Platinum Travel Credit every year and access to 900 VIP airport lounges.
$1,200 p.a. Go to site More info
ANZ Frequent Flyer Platinum
Get 50,000 bonus Qantas Points when you apply online, are approved and spend $2,500 on eligible purchases within the first 3 months. Enjoy a waived annual fee for the first year and earn up to 1.5 Qantas Points per dollar spent.
19.99% p.a. $0 p.a. annual fee for the first year ($295 p.a. thereafter) Go to site More info
ANZ Platinum Credit Card - Exclusive Offer
Receive a low introductory offer of 0% p.a. on purchases for 3 months and 0% p.a. on balance transfers for 12 months. Also, enjoy an annual fee waiver in the first year.
0% p.a. for 3 months (reverts to 19.74% p.a.) 0% p.a. for 12 months $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info
Bankwest Breeze Platinum MasterCard
A Platinum card offer with a 0% p.a. for 21 months on balance transfers and $0 on foreign transactions. Limited time only.
12.99% p.a. 0% p.a. for 21 months with 2% balance transfer fee $99 p.a. Go to site More info
ANZ Rewards Platinum
Receive 50,000 bonus Reward Points after your first eligible purchase is made within 3 months of card approval and earn up 2 Reward Points for every dollar spent on purchases.
18.79% p.a. $95 p.a. Go to site More info
ANZ Low Rate Platinum Credit Card
$250 Back plus 0% p.a. for the first 6 months on purchases from approval.
0% p.a. for 6 months (reverts to 13.49% p.a.) $99 p.a. Go to site More info
ANZ Rewards Travel Adventures card
Pay no overseas transaction fee on purchases and receive complimentary domestic return flight and lounge passes each year you hold the card when you spend $500 on eligible purchases within the first three months.
20.24% p.a. $225 p.a. Go to site More info
Westpac Altitude Black - Exclusive Offer
Earn 100,000 bonus points when you apply online, get approved and spend $5,000 on eligible purchases, choose between two reward programs offering (Altitude or Qantas Rewards) and receive premium cardholder benefits.
20.24% p.a. $395 p.a. Go to site More info
St.George Vertigo Platinum
A platinum card with a balance transfer offer of 0% p.a. for 18 months and an introductory purchase offer of 0% p.a. for 6 months.
0% p.a. for 6 months (reverts to 12.74% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
St.George Amplify Platinum
This card features a 30,000 bonus points offer, introductory interest rates on balance transfers and purchases.
0% p.a. for 6 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
Bank of Melbourne Amplify Platinum
Enjoy introductory offers on purchases and balance transfers with a signup bonus points of 30,000 on eligible spend.
0% p.a. for 6 months (reverts to 19.49% p.a.) 0% p.a. for 18 months $99 p.a. Go to site More info
ANZ Platinum Credit Card
Enjoy platinum card benefits with $0 annual fee in the first year and complimentary overseas travel and medical insurance.
19.74% p.a. 0% p.a. for 16 months with 2% balance transfer fee $0 p.a. annual fee for the first year ($87 p.a. thereafter) Go to site More info


Considerations for credit card car rental insurance:

  • Not all card companies offer this insurance to every customers. You should check with your credit company to see if you qualify.
  • Be sure to understand all of the terms of a car rental insurance policy before you depend on it to cover you in the case of an accident.
  • If you rent a car for more then 30 days it is unlikely to be covered by credit card car rental insurance.
  • The cover will have limits usually $50,000 for this insurance.
  • In order to use the insurance you have to charge the entire rental to your insurance providing credit card.
  • Any claims must be made within 45 days of your incident or your will lose your coverage.

Car rental insurance is just one more way your credit card can help save you money. If you know what your credit card has to offer you can get around a lot of extra expenses so be sure to read each benefit carefully.

If you would like to weigh up your options, alternatively, a car rental policy in may be an option to explore.

Car rental excess insurance providers

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8 Responses to Credit Card Feature: Car Rental Insurance Cover

    Default Gravatar
    JpJ | July 22, 2016

    I am the cardholder of an HSBC Australia Visa Platinum card. If I hire a car in Australia and have an accident, am I automatically covered for rental vehicle insurance excess? Many thanks.

      May | August 2, 2016

      Hi JpJ,

      Thanks for your inquiry.

      As the complimentary travel insurance is applicable for international trips, I’m afraid that the rental vehicle excess cover is only applicable for trips overseas as well. Please feel free to check this page for more information about HSBC complimentary travel insurance cover.


    Default Gravatar
    Pam | December 24, 2015

    I am the holder of an anz visa platinum card. When I hire a rent a car in Australia, am I automatically covered for accidents and to what extent.

      Sally | December 24, 2015

      Hi Pam,

      Thanks for your question. Yes, the ANZ Visa Platinum Card does offer cover for domestic car rentals in Australia. You’ll need to meet QBE and ANZ’s eligibility requirements before you can access the rental cover. I’ve emailed you a copy of the insurance policy so you can confirm that you meet those requirements.

      QBE will reimburse you for the amount of any collision excess that you have paid under any vehicle rental agreement that you enter into with a car rental company to hire a vehicle registered in Australia and its offshore territories, where:
      • you are the hirer, or
      • you are a joint hirer and you were driving the hire car when the accident occurred.

      The process for how you can make a claim is also included in the document I have emailed to you.

      I hope this has helped.



    Default Gravatar
    Rex | June 23, 2014

    We have booked a hire car in the UK for 20 days. We have had gold card with ANZ for many years. What cover will this card give us with our rental.

      Shirley | June 24, 2014

      Hi Rex and Rosly,

      Thanks for your question.

      ANZ Car Rental Cover covers the ANZ credit card account holder who has paid the relevant cover fee. Once you’ve become an ANZ credit card customer, you can obtain ANZ Car Rental Cover for an annual fee of just $24 (inc. GST) at the time of writing.


      Default Gravatar
      Trent | December 14, 2016

      Hi, does this type of cover only cover the cardholder or their partner (who would be a nominated driver) as well? ie if it was my card but say my partner was driving at the time?

      May | December 14, 2016

      Hi Trent,

      Thanks for your question and for contacting – a financial comparison website and general information service designed to help consumers make better decisions.

      Usually, with the complimentary travel insurance attached to a credit card, the cover extends to your immediate family (if they also meet the eligibility conditions of the insurance), so the rental vehicle cover will also be extended to them. But, depending on the conditions surrounding the car rental insurance of your policy and provided you meet them, your partner may or not be covered. I suggest that you contact your credit card’s provider of complimentary travel insurance to be sure.


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