Complimentary credit card car rental excess insurance can help cover costs if a rental vehicle is damaged or stolen and you need to pay an excess amount to the car hire company.
Depending on the credit card and policy, you could get cover when you rent a car overseas, in Australia or both.
Credit cards with complimentary insurance may include some form of car rental insurance. There are 2 main options:
As with any type of insurance, the cover and details vary. So it's important to check the insurance policy document for any card (or cards) you're looking at. To give you an idea, here is a table with some examples of credit cards and car rental insurance options for trips in Australia and overseas.
| Credit card provider | Credit cards | Insurance details |
|---|---|---|
| American Express |
| |
| ANZ |
| |
| BankSA |
| |
| Bank of Melbourne |
| |
| Citi | Level 1 cards:
Level 2 cards: |
|
| CommBank |
| |
| HSBC |
| |
| NAB | Level 1 cards: Level 2 cards: |
|
| Qantas Money |
| |
| St.George |
| |
| Westpac |
|
To activate your rental car insurance cover, you usually need to do the following:
The process can be slightly different depending on the insurance provider, so it's important to check the insurance policy document for full details. But as a general guide, you'll need to take the following steps:
If you're thinking of getting a credit card that offers complimentary car rental excess cover – or if your existing card offers this cover – make sure you keep the following details in mind before hiring a rental vehicle.
This type of cover is usually optional. But excess payments to a car rental company can be as much as $8,000 without this cover, compared to around $0 to $400 with cover.
Car rental companies typically offer excess insurance (or excess reductions) for about $20 to $30 per day, per car. It can go above $50 per day if you want a $0 excess.
There are also separate car rental excess insurance policies you can buy from as little as $2.83 per day. The cost depends on factors including the insurance provider, type of car and payable excess.
Based on these details, if you got complimentary car rental excess insurance through a credit card and hired a car for 7 days, you could save between $19.81 and $350 compared to paying for a car rental excess insurance policy.
But keep in mind that credit cards may have annual fees and other potential costs that you may want to factor in when you're considering different options. It's also a good idea to check the different policies so you know what's covered, what the limits are and how much you could be out-of-pocket.
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Find out whether your spouse or children are eligible for cover under your credit card complimentary insurance policy.
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Hi I would like a card that ticks the following boxes:
– Reward points (preferably velocity)
– international + domestic travel insurance (includes car rental excess)
– I will also be doing a Balance transfer
Hi Bonnie,
Thank you for your inquiry.
The frequent flyer credit cards that earn Velocity points are listed here. As not all cards have the same benefits, you may need to go over each card featured on that page and see if they have complimentary travel insurance and Balance transfer features. Please also note that domestic travel insurance are not usually covered under the travel insurance benefit. The car rental excess are typically included in the overseas complimentary travel insurance though.
Hope this helps.
Cheers,
May
I am a platinum ANZ credit card holder and I want to hire a car in NZ do I get the same access cover as I do in Australia?
Hi John,
ANZ Platinum credit cardholders are covered under QBE complimentary overseas medical and travel insurance. There’s comprehensive cover for a range of events, including an unlimited benefit payable for overseas medical and dental. If you already have an ANZ Platinum credit card, you’re eligible for the insurance when you hold a return ticket to Australia and have purchased at least $250 of your prepaid travel expenses using the ANZ Platinum credit card. See the insurance terms and conditions to confirm what you’re covered by.
I hope this information has helped.
Cheers,
Harold
Hi I’m about to rent a car using my ANZ platinum card. Do I need to purchase additional insurance from the Rent a car company ?
If event of accident without additional insurance what does the car cover?
Thanks
Hi Aloka,
While it’s not compulsory to purchase rental vehicle excess insurance from a car rental company (if you already have cover with your credit card) you might need to purchase damage insurance from the rental car company. Car rental excess insurance included in your credit card covers the excess payable on damage insurance.
It’s a good idea to clarify with your rental company what type of insurance you are buying from them.
According to the product disclosure statement (PDS) of ANZ, the maximum amount you are covered for is $2,400 in rental excess cover.
I hope this helps,
Maurice
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.
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 our HSBC credit card guide for more information about the HSBC complimentary travel insurance cover.
Cheers,
May
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.
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.
Cheers,
Sally