Insurance made simple: July 2010

Know what is and isn’t covered when renting a rental car, RV, motorcycle etc. Call the office to find out if you are covered. Below is the actual fine print in a Signature Visa Credit Card agreement. In short.. if you’re auto insurance doesn’t fully cover the rental car, it may save a lot of heart ache later to just buy the insurance at the rental counter.

What is this benefit?
When certain terms and conditions are met, the Visa Auto Rental Collision Damage Waiver benefit ("Auto Rental CDW") provides—at no additional charge—reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles. In your country of residence, this benefit is supplemental to, and excess of, any valid and collectible insurance from any other source. We will reimburse only for that damage or theft not payable by any other party.
IMPORTANT!
What is not covered?
• Any obligation you assume under any agreement (other than the deductible under your personal auto policy).
• Any violation of the auto rental agreement or this benefit.
• Injury of anyone or damage to anything inside or outside the rental vehicle.
• Loss or theft of personal belongings.
• Personal liability.
• Expenses assumed, waived, or paid by the rental agency or its insurer.
• Cost of any insurance or collision damage waiver offered by or purchased through the auto rental company.
• Depreciation of the rental vehicle caused by loss or damage including, but not limited to "diminished value."
• Expenses reimbursable by your insurer, employer, or employer’s insurance.
• Loss due to intentional acts, or due to the driver(s) being under the influence of alcohol, intoxicants, or drugs, or due to contraband or illegal activities.
• Wear and tear, gradual deterioration, or mechanical breakdown.
• Items not installed by the original manufacturer.
• Loss due to off-road operation of the rental vehicle.
• Loss due to hostility of any kind (including, but not limited to, war, invasion, rebellion, or insurrection).
• Confiscation by authorities.
• Vehicles that do not meet the definition of covered vehicles.
• Rental periods that either exceed or are intended to exceed fifteen (15) consecutive days within your country of residence or thirty-one (31) consecutive days outside your country of residence.
• Leases and mini leases.
• Loss or damage as a result of the cardholder’s lack of reasonable care in protecting the rental vehicle before and after damage occurs (for example, leaving the vehicle running and unattended).
• Losses reported more than forty-five (45) days* from the date of loss.
• Losses for which a claim form has not been received within ninety (90) days* from the date of loss.
• Losses for which all required documentation has not been received within 365 days from the date of loss.
• Losses from rental transactions which originated in Israel, Jamaica, the Republic of Ireland, or Northern Ireland.
• What types of rental vehicles are not covered?
• Excluded worldwide are: expensive, exotic, and antique automobiles; certain vans; vehicles that have an open cargo bed; trucks; motorcycles, mopeds, and motorbikes; limousines; and recreational vehicles.

Examples of excluded expensive or exotic automobiles are the Aston Martin, Bentley, Bricklin, Daimler, DeLorean, Excalibur, Ferrari, Jensen, Lamborghini, Lotus, Maserati, Porsche, and Rolls Royce. However, selected models of BMW, Mercedes-Benz, Cadillac, and Lincoln are covered.

An antique automobile is defined as any vehicle over twenty (20) years old or any vehicle that has not been manufactured for ten (10) years or more.

This benefit is provided for only those vans manufactured and designed to transport a maximum of eight (8) people and which is used exclusively to transport people.

For more information http://usa.visa.com/personal/cards/benefits/bft_dmg_waiver_personal.html