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As a frequent traveler, one of the most important things to consider when renting a car is insurance coverage. Many credit cards offer car rental insurance coverage as a perk, and Bank of America Travel Rewards credit card is no exception. In this article, we will discuss the details of Bank of America Travel Rewards Car Rental Insurance and how you can take advantage of it.
What is Bank of America Travel Rewards Car Rental Insurance?
Bank of America Travel Rewards Credit Card offers car rental insurance that can be activated when you rent a car using your credit card. The car rental insurance provided by Bank of America covers the cardholder and authorized drivers listed on the rental agreement against damage due to theft or collision. The coverage also covers reasonable towing and loss-of-use charges imposed by the rental company.
It is essential to note that the coverage does not include liability insurance, personal injury protection, or bodily injury coverage. You must have your primary insurance that covers these types of damages.
How to Activate the Coverage
You need to activate the coverage by declining the rental car company’s collision damage waiver (CDW) or loss damage waiver (LDW) and paying for the rental with your Bank of America Travel Rewards credit card. You must also ensure that you are listed as an authorized driver on the rental agreement.
It is also essential to adhere to the terms and conditions of the rental agreement and the Bank of America Travel Rewards Credit Card agreement. If you fail to do so, the coverage may be voided.
Coverage Details
The Bank of America Travel Rewards Car Rental Insurance coverage is secondary, which means it kicks in only after your primary insurance pays out. The coverage is limited to the actual cash value of the rental car and has a maximum limit of $50,000 per incident.
The coverage also excludes a few types of vehicles, including expensive or exotic cars, antique or vintage cars, trucks, motorcycles, recreational vehicles, and more.
How to File a Claim
If you find yourself in a rental car accident, the first thing you should do is call your primary insurance company and file a claim. After that, you can file a claim with Bank of America by calling the benefits administrator at 1-800-348-8472 within 45 days of the incident. The benefits administrator will provide you with the necessary paperwork and help you complete the claim process.
Conclusion
Bank of America Travel Rewards Car Rental Insurance can save you money by protecting you from the high cost of rental car damage in case of theft or collision. It is essential to understand the coverage details and terms and conditions to ensure you are eligible for the coverage. If you are a frequent traveler who rents cars often, Bank of America Travel Rewards Car Rental Insurance is an excellent perk to take advantage of.
| Pros | Cons |
|---|---|
| Free coverage | Does not cover liability insurance, personal injury protection, or bodily injury coverage |
| Easy to activate | Secondary insurance that kicks in only after primary insurance pays out |
| Covers rental car damage due to theft or collision | Does not cover certain types of vehicles |
Frequently Asked Questions
Does Bank of America Travel Rewards Car Rental Insurance cover liability?
No, Bank of America Travel Rewards Car Rental Insurance does not cover liability insurance, personal injury protection, or bodily injury coverage.
What types of vehicles are excluded from Bank of America Travel Rewards Car Rental Insurance coverage?
Bank of America Travel Rewards Car Rental Insurance coverage excludes expensive or exotic cars, antique or vintage cars, trucks, motorcycles, recreational vehicles, and more.
How do I activate the Bank of America Travel Rewards Car Rental Insurance coverage?
You need to activate the coverage by declining the rental car company’s collision damage waiver (CDW) or loss damage waiver (LDW) and paying for the rental with your Bank of America Travel Rewards credit card. You must also ensure that you are listed as an authorized driver on the rental agreement.
How much is the coverage limit for Bank of America Travel Rewards Car Rental Insurance?
The coverage limit for Bank of America Travel Rewards Car Rental Insurance is $50,000 per incident.