Venture X Rental Car Insurance

Vault’s Viewpoint on Venture X Rental Car Insurance

• The Capital One Venture X Rewards credit card offers primary rental car insurance coverage. 
• For eligible vehicles, the maximum reimbursement amount is $75,000. 
• Cardholders who want to use this benefit must purchase the rental with their Capital One Venture X Rewards credit card and decline the collision damage waiver (CDW) offered by the rental company. 

Capital One Venture X Rewards Credit Card Car Rental Insurance

The Capital One Venture X Rewards Credit Card offers primary rental car insurance to cardholders.

As the primary coverage, claims made about the rental car will go directly to this policy. With that, you likely won’t have to get your regular car insurance company involved. 

Here’s a closer look at what’s covered and what’s not covered by your Capital One Venture X Rewards credit card. 

What’s Covered?

Capital One’s rental car insurance covers damage to a rental car from a collision or loss of a rental car due to theft. The coverage, technically called auto rental collision damage waiver, will also pay for valid loss-of-use charges imposed by the car rental company, administration fees, and reasonable towing charges to the nearest qualified repair facility. 

If your rental vehicle is damaged or stolen, your Capital One rental car insurance may provide a reimbursement for the costs above, up to the actual cash value of the vehicle. This reimbursement is up to the original manufacturer’s suggested retail price (MSRP) of up to $75,000 when new.

Also, the protection only applies to rental periods of up to 15 consecutive days when you rent within your home country. If you are renting abroad, the protection is available for rental periods of up to 31 consecutive days. 

Who’s Covered?

The Capital One Venture X Rewards cardholder must be the primary driver on the rental car agreement and use their Venture X initiate and complete the rental car transaction. Other permitted drivers can be covered if you add them as an additional driver on the rental car agreement. 

Before leaving the rental counter, take the time to officially add anyone who may drive the vehicle. If they aren’t on the paperwork, an incident that involves them as a driver may not be covered by the coverage provided by your Venture X card. 

For example, let’s say you and your friend are renting a car for a road trip through a national park. Your friend isn’t covered unless you add them to the rental agreement. But if you put their name in the official paperwork, they are covered as a driver under this primary policy. 

What’s Not Covered?

Capital One offers robust primary coverage for its cardholders, but only some things are covered. Before committing to this insurance policy, confirm that it offers what you need. 

This coverage is unavailable if you drive in Israel, Jamaica, the Republic of Ireland or Northern Ireland. The benefit is also not available where precluded by law, where it’s in violation of the territory terms of the auto rental agreement, or when prohibited by individual merchants.

Here’s a look at some of the vehicles that aren’t covered:

• Exotic cars.
• Antique cars that are at least 20 years old. 
• Vehicles that haven’t been manufactured in at least ten years. 
• Expensive cars with an original manufacturer’s suggested retail price of more than $75,000 when new. 
• Vans with the exception of those designed as small-group transportation vehicles with seating up to nine, including the driver.
• Cargo vans.
• Vehicles with an open cargo bed. 
• Trucks.
• Motorcycles.
• Mopeds. 
• Motorbikes. 
• Limousines. 
• Recreational vehicles. 

In addition to excluding certain types of vehicles, Capital One’s rental car coverage doesn’t apply in the following situations. 

• Medical bills due to injuries you cause to others. 
• Any damage you inflict on other vehicles. 
• Driving the vehicle off-road can void your coverage. 
• Theft or damage due to a hostile situation is not covered, including war, rebellion, invasion, insurrection or terrorist activities. 
• Theft or damage due to a lack of reasonable protection by the cardholder. 
• Mechanical breakdowns and wear and tear. 
• Personal liability coverage isn’t provided. 
• Incidents involving drugs, alcohol or any illegal activities. 
• Loss or theft of personal belongings. 

How To Use Capital One Venture X Rewards Credit Card Rental Car Insurance

If you decide to use your Capital One Venture X Rewards credit card rental car insurance, you must pay for the entire rental car purchase with this premium credit card. 

You need to decline the rental company’s collision damage waiver (CDW) at the counter or any similar provision. Accepting and paying for the rental company’s CDW voids your access to Capital One’s rental car coverage for this transaction. 

Some rental companies will insist you purchase their CDW. If you run into this issue during the transaction, you can call the Benefit Administrator for help resolving the situation. 

Although you must decline the rental company’s CDW to use your Capital One benefit as primary coverage, you still have the option of purchasing supplemental coverage through the rental car company. For example, you might choose to purchase a liability policy through the company to help you pay for damage you cause to other vehicles or injuries you cause to others during an accident in the rental. 

The Capital One primary coverage goes into effect when you drive off the lot. Before leaving the rental company’s facility, Capital One recommends checking the car for prior damage. If you find any damage on the vehicle, point it out to the rental company. This creates a record of the damage. And sometimes, the rental agency will give you a damage-free car instead. 

When It Makes Sense To Use Capital One Venture X Rewards Credit Card Rental Car Insurance

The Capital One Venture X credit card offers rental car insurance as a nice perk. But as a cardholder, you’ll have to decide if tapping into this benefit makes sense for your situation. 

Here’s a look at when this benefit might make sense for you:

• Saving money. Using this benefit can protect your bottom line if you want to avoid paying for rental car insurance on vacation. 
• Traveling abroad. When driving a vehicle in another country, your personal insurance might not cover you. Luckily, Capital One’s rental car insurance works in most countries. 
• Tapping into protection. If you don’t have any car insurance, you can lean on Capital One’s rental car insurance to get a baseline level of coverage. 

If you aren’t sure that the Capital One Venture X Rewards Credit Card offers the right level of rental car insurance, take the time to read the fine print before getting to the rental desk. 

How To File a Claim for Car Rental Insurance With Capital One

An incident with a rental car can put a damper on your vacation. But if you run into a problem, use the following steps to file a claim with Capital One. 

Call the Benefit Administrator Immediately

When something happens, call the Benefit Administrator as soon as possible. You can touch base with Capital One whether or not your liability is established. 

The deadline for contacting the Benefit Administrator is 45 days after the incident. Any delays could be expensive for you. Capital One “reserves the right to deny any claim containing charges that would not have been included if notification occurred before the expenses were incurred.” 

It’s helpful to get the Benefit Administrator in the loop as soon as possible. In addition to helping you file the claim, the administrator might offer advice for navigating the situation. For example, they might direct you to procure a police report, decline certain charges from the rental company or take multiple pictures of the vehicle’s damage. 

You can reach the Benefit Administrator at 1-800-825-4062. If you are outside of the U.S., call 1-804-965-8071. 

Gather the Paperwork

Contacting the Benefit Administrator starts the process. But you’ll need to provide a suite of paperwork to file your claim. Gather the following documents in preparation for filing a claim:

• A copy of the accident report form.
• A copy of the initial and final auto rental agreements. 
• A copy of the repair estimate. 
• A copy of the itemized repair bill. 
• Two photographs of the damaged vehicle, if available. 
• A police report, if available. 
• A copy of the demand letter from the auto rental company, which should indicate the amount you are responsible for. 
• A signed Auto Rental Collision Damage Waiver claim form. 
• A copy of your billing statement, which shows that you paid for the rental car with the credit card. 

All documents must be submitted within 365 days after the date of the incident. But the signed copy of the Auto Rental CDW must be submitted within 90 days of the incident. If you submit the information late, your claim might be denied. 

File a Claim

You can file your claim online at eclaimsline.com. You can also submit the document via mail. If you’ve already gathered the necessary documents, filing the claim should be smooth. 

Wait for Your Claim To Be Processed

Once your claim is filed, you must wait for it to be processed. In general, the Benefit Administrator should process your claim within 15 days of receiving all of the supporting documents.

If the claim is approved, you’ll likely be reimbursed for the damage costs. With the funds cleared, you can move past this experience.