Does CIBC Costco credit card cover car rental insurance?
Yes, the CIBC Costco credit card does provide car rental insurance coverage. This includes Collision/Loss Damage Insurance which protects against theft or damage to a rental vehicle.
FAQs about CIBC Costco credit card car rental insurance:
1. What type of car rental insurance does the CIBC Costco credit card offer?
The CIBC Costco credit card offers Collision/Loss Damage Insurance for rental vehicles.
2. How long is the coverage valid for?
The coverage is valid for up to 48 consecutive days for each rental vehicle.
3. Do I have to pay extra for this coverage?
No, the car rental insurance coverage is included with the CIBC Costco credit card.
4. Does the coverage apply internationally?
Yes, the car rental insurance coverage applies worldwide.
5. What types of vehicles are covered under the insurance?
Most private passenger vehicles are covered, excluding certain high-end luxury vehicles and exotic cars.
6. Does the coverage include liability insurance?
No, the car rental insurance does not include liability insurance. It only covers damage or theft of the rental vehicle.
7. Do I need to decline the rental company’s insurance coverage to use the CIBC Costco credit card insurance?
Yes, in order to be eligible for the CIBC Costco credit card car rental insurance, you must decline the rental company’s insurance coverage.
8. Does the coverage extend to additional drivers?
Yes, the coverage may extend to additional drivers as long as they are designated on the rental agreement.
9. How do I make a claim if my rental vehicle is damaged or stolen?
To make a claim, you must contact the insurance provider within 48 hours of the incident and provide all necessary documentation.
10. What is the coverage limit for car rental insurance with the CIBC Costco credit card?
The coverage limit is up to $65,000 for the value of the rental vehicle.
11. Does the coverage include roadside assistance for the rental vehicle?
No, the car rental insurance with the CIBC Costco credit card does not include roadside assistance.
12. Can I use the car rental insurance for business rentals?
No, the coverage is intended for personal, leisure rentals only and does not apply to business rentals.
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