Does CIBC Costco Mastercard cover car rental insurance?

Does CIBC Costco Mastercard cover car rental insurance?

Yes, the CIBC Costco Mastercard does provide coverage for car rental insurance. This benefit is one of the many perks that cardholders can take advantage of when renting a vehicle.

1. What kind of car rental insurance does the CIBC Costco Mastercard offer?

The CIBC Costco Mastercard offers coverage for collision and damage insurance when you rent a car with the card.

2. Is there a limit to how much coverage is provided for car rental insurance?

Yes, the CIBC Costco Mastercard provides coverage up to $65,000 for eligible rental vehicles.

3. Are there any restrictions on the types of vehicles that are covered under the car rental insurance?

Yes, certain high-end luxury vehicles, off-road vehicles, and certain trucks are not covered under the car rental insurance provided by the CIBC Costco Mastercard.

4. Do I need to decline the rental agency’s insurance coverage in order to use the CIBC Costco Mastercard’s car rental insurance?

Yes, in order to be eligible for the car rental insurance provided by the CIBC Costco Mastercard, you must decline the rental agency’s collision damage waiver (CDW) or loss damage waiver (LDW).

5. Does the car rental insurance provided by the CIBC Costco Mastercard cover personal injury or liability insurance?

No, the car rental insurance provided by the CIBC Costco Mastercard does not cover personal injury or liability insurance. Cardholders are encouraged to purchase separate coverage for these types of insurance.

6. How do I activate the car rental insurance coverage when using the CIBC Costco Mastercard?

Simply use your CIBC Costco Mastercard to pay for the entire cost of the rental vehicle, and the coverage will automatically be activated.

7. Is there a rental period limit for the car rental insurance provided by the CIBC Costco Mastercard?

Yes, the coverage is valid for rental periods of up to 48 consecutive days.

8. What countries are covered under the car rental insurance provided by the CIBC Costco Mastercard?

The coverage is valid worldwide, with the exception of certain countries such as Israel, Jamaica, and Ireland.

9. Are there any additional fees associated with using the car rental insurance provided by the CIBC Costco Mastercard?

No, there are no additional fees or charges for using the car rental insurance coverage. It is included as a benefit of being a cardholder.

10. Can additional drivers be covered under the car rental insurance provided by the CIBC Costco Mastercard?

Yes, as long as the additional driver is listed on the rental agreement, they will be covered under the car rental insurance provided by the CIBC Costco Mastercard.

11. What should I do if I need to make a claim for car rental insurance coverage?

If you need to make a claim for car rental insurance coverage, you should contact the insurer within 48 hours of the incident and provide all necessary documentation and information.

12. Is there a deductible for the car rental insurance provided by the CIBC Costco Mastercard?

Yes, there is a deductible of $500 for each claim made under the car rental insurance coverage. Cardholders are responsible for paying this amount out of pocket.

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