
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated
If you’re wondering if your Bank of America credit card offers insurance for your rental car, you’ll find it depends on the card. BofA recommends contacting customer service to find out if the card you have offers rental insurance as a perk.
Bank of America advertises auto rental collision damage waivers (CDWs) with only the Bank of America® Premium Rewards® Credit Card. However, it may offer the benefit, depending on the card. For example, Bank of America® Travel Rewards Credit Card‘s benefits guide includes auto rental collision waivers — even though its application page doesn’t list the benefit.
A BofA rep we spoke to was unable to confirm whether every card included auto rental CDWs. He suggests cardholders reach out to Bank of America to confirm if your card includes this perk.
You can use Bank of America car rental insurance throughout the US and most countries. However, the benefit isn’t valid in Jamaica, Israel, the Republic of Ireland or Northern Ireland.
It also isn’t valid where it’s barred by law, when it conflicts with an auto rental agreement, or when individual merchants don’t allow it.
With a Bank of America credit card that offers auto rental CDWs, you’re covered for:
The maximum reimbursement is the actual cash value of your rental vehicle. This is the replacement cost of the stolen or damaged vehicle, less depreciation costs.
Your Bank of America rental car CDW is invalid for:
Your auto rental CDW doesn’t cover everything. For example, it doesn’t apply if your vehicle is damaged or stolen because you violated the rental agreement. It also doesn’t cover your personal items if they’re damaged or stolen.
Bank of America collision damage waivers are secondary or primary depending on where you’re renting your vehicle.
Whether you have personal auto insurance affects your Bank of America policy as well:
To activate your collision damage waiver policy, here’s what to do:
Call the Bank of America benefit administrator within 45 days after damage or theft to your vehicle. A representative advises you on next steps, and tells you which information to submit for your claim.
Collect the following information from the rental company:
In your claim, submit the information above as well as the following:
Submit this information within 365 days of the incident. If you’re having trouble obtaining certain documents within 90 days of the incident, submit what you have available to the benefit administrator.
The cardholder is covered by your BofA card’s auto rental collision damage waiver. So are eligible drivers you list on each rental agreement.
Bank of America offers an auto rental collision damage waiver with the Bank of America® Premium Rewards® Credit Card. It also offers the benefit with its other cards, albeit on a case-by-case basis. If you’re unsure whether your card offers an auto rental CDW, contact BofA to make sure.
If these cards aren’t what you’re looking for, compare other cards with car rental insurance.
It doesn’t come standard, but specific Mastercard products have an extended warranty benefit.
Check out the top 50 American car models, and find out what makes them American.
Insure your classic car or race car at agreed value with Heacock Classic, but you’ll have to look elsewhere if you have recent claims or major violations.
Offers a transparent look at your premiums and rewards renewal with a better insurance score.
A debit card that walks, talks and acts like a credit card.
Protect your classic as well as your daily driver with steep liability coverage all on one policy.
Here’s what home, auto and business insurance often covers when it comes to looting and vandalism, including resources for help.
Learn about coronavirus financial support options, complimentary insurance and other credit card details you may be wondering about.
Branch auto insurance takes a community-focused approach with friend referral discounts.
Car insurance companies are chiming in with payment extensions or waived fees for financial relief.