The best credit card car rental insurance is a bit subjective since almost every card offers similar coverage for both the amount and days covered. Generally speaking, as long as you have credit card rental car insurance, you’ll be covered, but there are a few minor things to be aware of.
For your credit card car rental insurance to apply, you usually need to charge the entire amount of the car rental to your credit card with rental car insurance. In addition, you must decline the insurance offered the car rental agency. It’s also worth noting that credit card car rental insurance only covers damage to the vehicle and not liability.
Liability insurance is separate and you’re usually covered by your regular car insurance policy even when you travel. However, if you don’t have car insurance at home, then you’ll likely want to purchase liability insurance. Here are the best credit cards with car rental insurance.
|American Express Platinum||$85,000||48||$699|
|Scotiabank Passport Visa Infinite||$65,000||48||$139|
|BMO World Elite Mastercard||$65,000||48||$150 - First year free|
|Meridian Visa Infinite Cash Back Card||$65,000||48||$99 - First year free|
American Express Platinum Card
- $699 annual fee
- 60,000 Points signup bonus when using a referral link
- Earn 3 points per $1 spent on dining
- Earn 2 points per $1 spent on travel
- Earn 1 point per $1 spent on all other purchases
- $200 Annual travel credit
- Unlimited airport lounge access
- Hotel status upgrades
The American Express Platinum Card may have a crazy annual fee of $699, but it’s one of the best travel credit cards in Canada. Your American express car rental insurance covers you for vehicles with a value up to $85,000 which is higher than the other cards on this list. Additional travel benefits include an annual travel credit of $200, unlimited lounge access, and status upgrades with many hotel loyalty programs. You also get a 60,000 Membership Rewards points as a welcome bonus when you sign up with a referral link.
Scotiabank Passport Visa Infinite Card
- $139 annual fee
- No foreign transaction fees
- 25,000 Scotia Rewards points ($250 value) when you spend $1,000 in the first 3 months
- Priority Pass Standard Membership + 6 free visits per year
- Earn 2 Scotia Rewards points per $1 spent on eligible grocery, dining, entertainment, and transit purchases
- Earn 1 Scotia Rewards point per $1 spent on all other purchases
The Scotiabank Passport Visa Infinite Card is designed as an all-in-one travel credit card as it gives you a good earn rate, 6 airport lounge passes, and no foreign transaction fees. This card is ideal for people who don’t want to carry multiple credit cards whenever they travel. You earn Scotia Rewards points with this card which are flexible since you can use them on any travel purchase made through the Scotia Rewards website or you can apply them to travel purchases made with your Scotiabank Passport Visa Infinite Card.
BMO World Elite Mastercard
- $150 Annual fee – first year free
- 35,000 BMO Rewards points when you charge $3,000 to your card in the first 3 months
- Earn 3 BMO Rewards points per $1 spent on dining, entertainment and travel purchases
- Earn 2 BMO Rewards points per $1 spent on all other purchases
- Mastercard Airport Experiences membership provided by LoungeKey, plus four annual complimentary passes
As you’ve likely noticed by now, just about every credit card car rental insurance on this list gives you 48 days and up to $65,000 in coverage. The BMO World Elite Mastercard is no different but what distinguishes it from other travel credit cards is that it usually has a promotion where the first year is free so you’ll save $150 right away. Combine this with the signup bonus of 35,000 BMO Rewards points that are worth $250 and the 4 free airport lounge passes, and you’re getting more than $500 in value when you sign up.
Meridian Visa Infinite Cash Back Card
- $99 annual fee – first year free
- Earn 4% cash back on gas and grocery purchases
- Earn 2% cash back on pharmacy and utility bill payments
- Earn 1% cash back on all other purchases
- Mobile device insurance up to $1,000
Rounding up my list of the best credit cards with car rental insurance is the Meridian Visa Infinite Cash Back Card which is also one of the best cash back credit cards in Canada. Meridian was the first credit card provider in Canada to include mobile device insurance so they deserve credit for that as a few other credit cards now also offer that benefit. If you’re looking for a cash back credit card with good car rental insurance, then the Meridian Visa Infinite Cash Back Card is your best bet.