Comments on: American Express Car Rental Loss and Damage Insurance Plan http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html personal finance blog with anecdotes, advice and commentary. Sun, 08 Nov 2009 17:32:34 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Diana http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-329240 Diana Fri, 16 Oct 2009 02:14:07 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-329240 I'd like to hear how your situation was resolved. I'm in the same boat with AmEx and Thrifty. I will definitely never rent from Thrifty again, but I'm actually more PO'd at AmEx--I bought this premium coverage specifically for the LDW coverage and yet they know that 90% of rental car companies are not required to nor are willing to supply it. As a consumer who does a ton of due dilligence, how could I know that that most rental car companies don't supply fleet utilization logs, info that AmEx CLEARLY had to know. This seems like a misleading business practice from the start. I’d like to hear how your situation was resolved. I’m in the same boat with AmEx and Thrifty. I will definitely never rent from Thrifty again, but I’m actually more PO’d at AmEx–I bought this premium coverage specifically for the LDW coverage and yet they know that 90% of rental car companies are not required to nor are willing to supply it. As a consumer who does a ton of due dilligence, how could I know that that most rental car companies don’t supply fleet utilization logs, info that AmEx CLEARLY had to know. This seems like a misleading business practice from the start.

]]> By: Robert http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-327749 Robert Tue, 22 Sep 2009 07:31:09 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-327749 Great article/comments with lots of useful information. Thanks guys. I was wondering if there was more information about the Mastercard rental insurance. Do they also offer a "premium" option where they provide primary insurance and cover loss of use? Also, from what I briefly read on the web, LOU charges in California are illegal as of Jan 1, 2002. You may want to check for your specific location. Source: http://www.devvy.com/200212242038.html Great article/comments with lots of useful information. Thanks guys.

I was wondering if there was more information about the Mastercard rental insurance. Do they also offer a “premium” option where they provide primary insurance and cover loss of use?

Also, from what I briefly read on the web, LOU charges in California are illegal as of Jan 1, 2002. You may want to check for your specific location.

Source: http://www.devvy.com/200212242038.html

]]> By: Jim http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-326831 Jim Wed, 02 Sep 2009 12:44:03 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-326831 It's great to hear that everything has worked out well so far, thanks for keeping us up to date. It’s great to hear that everything has worked out well so far, thanks for keeping us up to date.

]]> By: GMoney http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-326823 GMoney Wed, 02 Sep 2009 06:08:49 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-326823 Good news! I received a check for the amount of all the personal items I claimed that were stolen from the burglary. The amount is about $20 short, so I thought maybe they excluded sales tax. But without tax, the check would be a few dollars too much. The check didn't come with any letters explaining the breakdown. As for the car repair claim, that's still pending because Budget is super slow in providing the necessary documentation. Good news! I received a check for the amount of all the personal items I claimed that were stolen from the burglary. The amount is about $20 short, so I thought maybe they excluded sales tax. But without tax, the check would be a few dollars too much. The check didn’t come with any letters explaining the breakdown.

As for the car repair claim, that’s still pending because Budget is super slow in providing the necessary documentation.

]]> By: GMoney http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-324986 GMoney Fri, 21 Aug 2009 02:14:28 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-324986 To Drew: Can you elaborate when you said you "fought the car rental company for loss of use"? Sounds like that part of the process will require some effort. Update on my case: Early in the paperwork process, I had some questions, and the insurance company that AmEx hires is very responsive. I faxed all 24 pages of statements, receipts, etc. for items that were stolen from my rental car (over $3K worth); I also emailed them a PDF scan of everything. It took a few weeks, but the adjuster assigned to my case wrote back, saying he needed proof of AmEx transaction for the rental car itself. I sent that in as well, but haven't heard back yet. I wouldn't be surprised it my personal loss claim is taken care of before the car damage one. It was only a broken window, and it was the last vehicle at the local Budget office that I went to (actually, they ran out of vehicles, but luckily, someone doing a 1-way was returning her car that afternoon). So they better have a fleet log that shows 100% utilization! To Drew:

Can you elaborate when you said you “fought the car rental company for loss of use”? Sounds like that part of the process will require some effort.

Update on my case: Early in the paperwork process, I had some questions, and the insurance company that AmEx hires is very responsive. I faxed all 24 pages of statements, receipts, etc. for items that were stolen from my rental car (over $3K worth); I also emailed them a PDF scan of everything. It took a few weeks, but the adjuster assigned to my case wrote back, saying he needed proof of AmEx transaction for the rental car itself. I sent that in as well, but haven’t heard back yet. I wouldn’t be surprised it my personal loss claim is taken care of before the car damage one.

It was only a broken window, and it was the last vehicle at the local Budget office that I went to (actually, they ran out of vehicles, but luckily, someone doing a 1-way was returning her car that afternoon). So they better have a fleet log that shows 100% utilization!

]]> By: Drew http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-324873 Drew Thu, 20 Aug 2009 18:51:46 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-324873 I had a car broken into around 13 years ago when rented with an Amex card. I must say that Amex did everything. I filed a police report, called Amex, returned the car and never heard about it again, other than some final paperwork. Amex paid everything outright (I didn't have any primary insurance at the time) and fought the car rental company for loss of use etc. I now always rent with the Amex premium insurance. That way, I won't have anything to worry about. Heading to Mexico in a week and will rent a car with my Amex and not worry. I had a car broken into around 13 years ago when rented with an Amex card. I must say that Amex did everything. I filed a police report, called Amex, returned the car and never heard about it again, other than some final paperwork. Amex paid everything outright (I didn’t have any primary insurance at the time) and fought the car rental company for loss of use etc.

I now always rent with the Amex premium insurance. That way, I won’t have anything to worry about. Heading to Mexico in a week and will rent a car with my Amex and not worry.

]]> By: Adam http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-324425 Adam Wed, 19 Aug 2009 05:28:42 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-324425 If it seems too good to be true, it is. I have worked as a rental sales agent at a car rental company for a number of years now. Alot of customers say that their credit card provides collision and loss of use coverage for them, and opt to rely on that to pay their claims if anything happens. Bad idea. Why would a credit card company cover damage to a car for free (or for $24.95 in the case of Amex)? Afterall, you are talking about a CREDIT CARD COMPANY. The truth is that credit cards make it nearly impossible to file a claim. They often only cover you as long as you are not at fault....which means they NEVER cover you. Afterall, if you're not at fault, then the other party pays anyway, right? Other times they are only secondary to your insurance, so they really only cover your deductible if anything happens. Although all claim to cover loss of use, they don't (according to what I've learned in this thread). Of course, the Damage Waiver offered by the rental car companies covers everything. There is no deductible, no claims against your insurance, and all damage, loss of use, and admin fees are covered. Of course, you do pay for this, and it can become relatively expensive (that is, until you damage the car...then it saves you tons). What it comes down to is this: If you buy the rental company's coverage, it can cost alot initially but would save you a tremendous amount if anything happens. If you don't take the rental company's coverage, you will save some money initially but could end up paying an enormous amount out of pocket if anything happens. The truth is, few cars come back with damage to them. But declining the rental company's Damage Waiver runs a risk that you need to decide whether you are willing to take....hopefully, before you get to the car rental counter. If it seems too good to be true, it is. I have worked as a rental sales agent at a car rental company for a number of years now. Alot of customers say that their credit card provides collision and loss of use coverage for them, and opt to rely on that to pay their claims if anything happens. Bad idea.

Why would a credit card company cover damage to a car for free (or for $24.95 in the case of Amex)? Afterall, you are talking about a CREDIT CARD COMPANY. The truth is that credit cards make it nearly impossible to file a claim. They often only cover you as long as you are not at fault….which means they NEVER cover you. Afterall, if you’re not at fault, then the other party pays anyway, right? Other times they are only secondary to your insurance, so they really only cover your deductible if anything happens. Although all claim to cover loss of use, they don’t (according to what I’ve learned in this thread).

Of course, the Damage Waiver offered by the rental car companies covers everything. There is no deductible, no claims against your insurance, and all damage, loss of use, and admin fees are covered. Of course, you do pay for this, and it can become relatively expensive (that is, until you damage the car…then it saves you tons).

What it comes down to is this: If you buy the rental company’s coverage, it can cost alot initially but would save you a tremendous amount if anything happens. If you don’t take the rental company’s coverage, you will save some money initially but could end up paying an enormous amount out of pocket if anything happens. The truth is, few cars come back with damage to them. But declining the rental company’s Damage Waiver runs a risk that you need to decide whether you are willing to take….hopefully, before you get to the car rental counter.

]]> By: Jake http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-321433 Jake Fri, 07 Aug 2009 18:00:22 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-321433 I was just talking with Amex Premium Insurance people and they said that if the rental company goes ahead and bills your Amex Card for loss of use without providing proper documentation to Amex Insurance, that you can just go and contest the charge with Amex. Unsure though if this would help if rental co. then sends collectors after you... I was just talking with Amex Premium Insurance people and they said that if the rental company goes ahead and bills your Amex Card for loss of use without providing proper documentation to Amex Insurance, that you can just go and contest the charge with Amex.

Unsure though if this would help if rental co. then sends collectors after you…

]]> By: GMoney http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-312876 GMoney Sun, 12 Jul 2009 01:10:12 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-312876 This is a great thread. I am now based out of Singapore, so whenever I come home to visit (Bay Area, California), I use my Costco American Express with the Premium coverage. I returned my 2-week rental from Budget last night, but only after it was broken into, and a lot of valuables were stolen. The rear left passenger window is shattered, and I lost many items, like my work laptop, an expensive watch, external hard drive, and a brand new Coach bag that was a gift. I made a police report, filed the insurance claim online immediately, then dropped off the vehicle. After reading this thread, I am worried that I will still end up shelling out my own money, and it will be a miracle if/when AmEx pays me for my stolen personal items, too. I'll keep everyone posted. This is a great thread. I am now based out of Singapore, so whenever I come home to visit (Bay Area, California), I use my Costco American Express with the Premium coverage. I returned my 2-week rental from Budget last night, but only after it was broken into, and a lot of valuables were stolen. The rear left passenger window is shattered, and I lost many items, like my work laptop, an expensive watch, external hard drive, and a brand new Coach bag that was a gift.

I made a police report, filed the insurance claim online immediately, then dropped off the vehicle. After reading this thread, I am worried that I will still end up shelling out my own money, and it will be a miracle if/when AmEx pays me for my stolen personal items, too.

I’ll keep everyone posted.

]]> By: Pete http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-311736 Pete Thu, 09 Jul 2009 03:29:08 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-311736 anyone knows what is the deal with the amex cards that are issued by other banks like BoA or MBNA? on the phone they told me that they have coverage up to 100 tsd for any car excluding some sports cars. but they could not tell me any details, and would not send me the policy. I dont think I ever got anything in the mail that would outline the coverage of this amex-mbna of boa card or even the visa ones. clark737, were you able to verify that visa has better coverage than amex? the way I see it at least amex's policy is more transparent, you know what to expect because you can get it off their website. for boa, mbna, chase, etc I can't find almost nothing online and they would not send it. and I don;t think I want to find out the details when it is too late. what do you think anyone knows what is the deal with the amex cards that are issued by other banks like BoA or MBNA? on the phone they told me that they have coverage up to 100 tsd for any car excluding some sports cars. but they could not tell me any details, and would not send me the policy. I dont think I ever got anything in the mail that would outline the coverage of this amex-mbna of boa card or even the visa ones.

clark737, were you able to verify that visa has better coverage than amex?

the way I see it at least amex’s policy is more transparent, you know what to expect because you can get it off their website.

for boa, mbna, chase, etc I can’t find almost nothing online and they would not send it. and I don;t think I want to find out the details when it is too late.

what do you think

]]> By: Paul http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-309174 Paul Wed, 01 Jul 2009 17:41:08 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-309174 And the irony is, statistically speaking you should recover your costs by declining insurance coverage for the next few rentals until your average total cost comes back to the mean. And the irony is, statistically speaking you should recover your costs by declining insurance coverage for the next few rentals until your average total cost comes back to the mean.

]]> By: Patrick http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-307636 Patrick Fri, 26 Jun 2009 21:16:07 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-307636 This Amex insurance is a scam. Indeed, Amex will pay for any damage. They will not however, pay any "administrative fees" or "loss of use" fees that are guaranteed to be included if you damage the rental car. Here is what happened to me: I called Amex just before renting to confirm I did not need to get the rental car company's insurance (which was 14 dollars a day). Amex said no need, because they would act as primary insurance.(Premium version). I rented the care for four days. Someone hit the car while it was parked, resulting in a small scratch. The rental car company charged: 700 for the damage. 300 for "loss of use" and 200 for "administrative fees". Amex paid the 700 and informed me that I am responsible for the rest. When complaining to the adjuster about the meaning of "insurance" I received more double-speak than I've ever heard...and I'm a lawyer! Bottom line: Had I purchased the rental car agency's insurace: four days x 14 dollars = 56 dollars. But because I trusted in Amex and thus declined the insurance: $17.95 premium charged by Amex + $500 dollars in fees = $517.95. AMEX insurance is worthless. I will never decline car insurance's rental insurance again. This Amex insurance is a scam. Indeed, Amex will pay for any damage. They will not however, pay any “administrative fees” or “loss of use” fees that are guaranteed to be included if you damage the rental car. Here is what happened to me: I called Amex just before renting to confirm I did not need to get the rental car company’s insurance (which was 14 dollars a day). Amex said no need, because they would act as primary insurance.(Premium version). I rented the care for four days. Someone hit the car while it was parked, resulting in a small scratch. The rental car company charged: 700 for the damage. 300 for “loss of use” and 200 for “administrative fees”. Amex paid the 700 and informed me that I am responsible for the rest. When complaining to the adjuster about the meaning of “insurance” I received more double-speak than I’ve ever heard…and I’m a lawyer!

Bottom line: Had I purchased the rental car agency’s insurace: four days x 14 dollars = 56 dollars. But because I trusted in Amex and thus declined the insurance: $17.95 premium charged by Amex + $500 dollars in fees = $517.95.

AMEX insurance is worthless. I will never decline car insurance’s rental insurance again.

]]> By: Jeff Sawyer http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-305535 Jeff Sawyer Sat, 13 Jun 2009 13:50:40 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-305535 Well written and helpful article. Thank you! Well written and helpful article. Thank you!

]]> By: Mitch http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-305267 Mitch Tue, 09 Jun 2009 17:01:42 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-305267 Purchasing the CDW from the rental car company is the best coverage you can get. Everything in this world costs money. If you want the best coverage then you have to pay for that. Rental car companies are in business to make money. If you get a rate of $15/day for a rental car, then $20/day for coverage still makes the car a good value and you know you are covered. When we try to save money with a cheaper alternative then you get what you pay for. Remember, CDW is not a rip-off. You are paying for the best coverage you can get on a rental vehicle. It does cost money. In return you get: peace of mind, no hassles, no red tape, no paperwork, quick exchange of vehicle, etc. It is all optional so you decide if you want to pay for the best. Purchasing the CDW from the rental car company is the best coverage you can get. Everything in this world costs money. If you want the best coverage then you have to pay for that. Rental car companies are in business to make money. If you get a rate of $15/day for a rental car, then $20/day for coverage still makes the car a good value and you know you are covered. When we try to save money with a cheaper alternative then you get what you pay for. Remember, CDW is not a rip-off. You are paying for the best coverage you can get on a rental vehicle. It does cost money. In return you get: peace of mind, no hassles, no red tape, no paperwork, quick exchange of vehicle, etc. It is all optional so you decide if you want to pay for the best.

]]> By: chris http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html/comment-page-1#comment-305122 chris Fri, 05 Jun 2009 17:43:06 +0000 http://www.bargaineering.com/articles/american-express-car-rental-loss-and-damage-insurance-plan.html#comment-305122 This is a sham. American Express does not cover all of the damage on a car. AMX only covers the amount of the deductable. So if the damage is $1000. It will pay for the $500 deductable and then you have to come up with the other $500. Whether or not you file a claim through your insurance company is your option. The other thing is that everyones insurance policy does not always transfer over to a rental car. You know if I was you I would go rent a car and then crash it and total it and see how much AMX would pay for. I'm sure they would just love to pay for your rental car for free. No questions asked, yeah that sounds like a multi-billion dollar company. Giving money out for free. Skepticism 101 ladies and gentleman. This is a sham. American Express does not cover all of the damage on a car. AMX only covers the amount of the deductable. So if the damage is $1000. It will pay for the $500 deductable and then you have to come up with the other $500. Whether or not you file a claim through your insurance company is your option. The other thing is that everyones insurance policy does not always transfer over to a rental car. You know if I was you I would go rent a car and then crash it and total it and see how much AMX would pay for. I’m sure they would just love to pay for your rental car for free. No questions asked, yeah that sounds like a multi-billion dollar company. Giving money out for free. Skepticism 101 ladies and gentleman.

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