Does Bank of America Credit Card Cover Rental Car Insurance
When you’re renting a car, it’s important to be aware of the various insurance options that are available to you. One of these options is credit card rental car insurance. Does Bank of America offer this type of coverage? If so, what are the details? Read on to find out! ###
What is Bank of America Credit Card Cover?
Bank of America is a major credit card issuer and one of the most popular choices for those looking for rental car insurance. The bank offers two types of rental car insurance: primary coverage and Collision Damage Waiver (CDW) coverage.
Bank of America’s primary rental car insurance covers your vehicle in the event that it is damaged while you are driving it, up to the value of your car. This type of coverage usually costs around $50 per month. Bank of America also offers a Collision Damage Waiver (CDW) policy that costs an additional $100 per month but provides comprehensive protection in the event your vehicle is damaged while you are not driving it. This coverage will cover your vehicle up to $300,000 in total damages.
What are the requirements for Bank of America Credit Card Cover?
Bank of America offers a credit card that covers rental car insurance. The card requires a $250,000 limit and has an annual fee of $0. A qualifying deposit is also required, which can be made with cash or approved loan. The cardholder is required to maintain a minimum balance of $1,000 at all times and make 12 consecutive monthly payments on time. Coverage begins the day the rental car is picked up and ends 24 hours after the return or drop-off date. If there are any claims made while the car is in your possession, you are responsible for paying them.
Can I use my Bank of America Credit Card to cover rental car insurance?
Yes, Bank of America credit cards can be used to cover rental car insurance. This is because the card is accepted at many car rental companies and the policies often include personal liability coverage. The coverage amount will vary from company to company, but typically it will be in excess of the minimum required by most states.
Conclusion
Depending on your particular circumstances, Bank of America credit card might not provide coverage for rental car insurance. Before signing up for a Bank of America credit card, it is important to do some research and find out whether the card offers rental car insurance coverage. If you have any questions or concerns about whether or not the card will cover your rental car insurance needs, please feel free to reach out to customer service.
