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Mastercard car rental insurance: How does it work?

Get it only with select cards depending on the issuer.

You might find Mastercard car rental insurance with your credit card, but this ultimately comes down to your issuer. Here’s a rundown of how the benefit works, what it covers and how to use it.

Does Mastercard have car rental insurance?

Mastercard offers car rental collision damage waiver insurance with select cards depending on the card issuer. If you’re not sure if your card comes with it, call your issuer and ask.

What does Mastercard car rental insurance cover?

Mastercard car rental insurance covers your rental vehicle against physical damage and theft. It may also pay for reasonable loss-of-use and towing charges.

To get this coverage, use your Mastercard to pay for the entire rental and decline the rental company’s coverage.

How much does Mastercard car rental insurance cover me for?

This coverage will typically pay the lesser of:

  • $65,000 (vehicles with an MSRP of $65,000 or less)
  • The actual repair amount.
  • The wholesale market value of the vehicle.
  • The purchase invoice from the rental agency.

Where is Mastercard car rental insurance valid?

Mastercard car rental insurance applies worldwide, except where it’s prohibited by law or where it conflicts with a country’s laws.

What Mastercard car rental insurance doesn’t cover

Mastercard car rental insurance doesn’t cover all types of vehicles. These are excluded:

  • Trucks, including pickups, cargo vans, off-road vehicles, sport utility trucks and more.
  • Trailers, motorcycles, motorbikes and any other vehicle with fewer than four wheels.
  • Antique vehicles.
  • Limousines.
  • Any vehicle with an MSRP over $65,000.

Additional items and events not covered by Mastercard car rental insurance

There’s a long list of instances when your Mastercard car rental insurance will be void. But here are the highlights that cover the vast majority of exceptions:

  • Personal items, vehicle keys and portable GPSs aren’t covered.
  • You aren’t covered for damage or theft to your vehicle due to negligence, such as driving intoxicated, not locking or securing your vehicle, or using your vehicle in a manner contrary to your rental agreement.

Is Mastercard car rental insurance primary or secondary?

Mastercard car rental insurance is secondary, which means you can claim through it only after you’ve claimed through the following:

  • Your — or your authorized driver’s — primary auto insurance.
  • Coverage from the rental agency.
  • Other forms of insurance.

There is good news: in most cases, your Mastercard policy will cover your deductible for your primary auto insurance or other forms of coverage.

How to use Mastercard car rental insurance

Follow these steps to use your Mastercard car rental insurance:

  1. Pay for your entire rental with your eligible Mastercard. Decline the rental company’s coverage.
  2. In the event of an incident, call your Mastercard benefit administrator immediately at 1-800-MASTERCARD. A representative will give you the next steps and tell you which documentation to submit.
  3. If necessary, file a police report immediately.
  4. Within 180 days of the incident, return the documentation requested by your benefit administrator.

Information to include with your claim

The list of information to include with your claim is fairly standard, though you’ll have to do a bit more legwork if you’re claiming for loss of use. Required documentation includes:

  • Your claim form, signed and completed.
  • The receipt for your rental.
  • Your credit card statement showing you paid for the rental with your Mastercard.
  • A copy of the rental agreement — front and back.
  • A copy of your driver’s license — front and back.
  • A copy of the declarations page of your primary insurance or other coverage.
  • A police report if your vehicle isn’t drivable, was stolen or vandalized, was involved in a multivehicle collision or was involved in a collision that required the vehicle to be towed.
  • An itemized repair estimate from an authorized repair facility.
  • If applicable, a copy of the promotion or discount from the rental company.
  • If you’re claiming for loss-of-use charges, a copy of the vehicle’s class-specific fleet utilization log from the rental company.
  • Other information requested by your benefit administrator.

Compare Mastercard credit cards

Not every Mastercard comes with car rental insurance coverage. Make sure you check with your issuer to make sure your card qualifies.

1 - 8 of 8
Name Product Welcome Offer Rewards Purchase Interest Rate Annual Fee Min. Credit Score Description
Tangerine World Mastercard
10% cash back
Up to 2% cash back
19.95%
$0
Min. recommended credit score: 600
Earn 10% cash back (up to $100) when you spend $1,000 in the first 2 months. Valid until April 30, 2024. Plus, get a 1.95% interest rate on balance transfers for the first 6 months.
BMO CashBack Mastercard
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get 5% cash back on all eligible purchases in the first three months of card membership (up to max. spend of $2,500). Plus, get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
BMO Ascend World Elite Mastercard
90,000 points
Up to 5x points per $1 spent
20.99%
$0 annual fee for the first year ($150 thereafter)
Min. recommended credit score: 760
Get up to 90,000 points and get the $150 annual fee waived in the first year.
BMO CashBack World Elite Mastercard
Up to 10% cash back
1% cash back
20.99%
$0 annual fee for the first year ($120 thereafter)
Min. recommended credit score: 760
Get up to 10% cash back in your first 3 months and the $120 annual fee waived in the first year.
BMO AIR MILES World Elite Mastercard
2,000 Miles
Up to 3 Miles for every $12 spent
20.99%
$0 annual fee for the first year ($120 thereafter)
Min. recommended credit score: 760
Earn a bonus of up to 2,000 AIR MILES. Terms apply. Plus, get the annual fee of $120 waived in the first year.
BMO AIR MILES Mastercard
800 Miles
Up to 3x Air Miles for every $25 spent
20.99%
$0
Min. recommended credit score: 660
Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash). Get a rate of 0.99% on balance transfers for 9 months. A 2% fee applies to transferred balances.
BMO AIR MILES Mastercard For Students
800 Miles
Up to 3x Air Miles for every $25 spent
20.99%
$0
Min. recommended credit score: 660
Get 800 AIR MILES Bonus Miles (enough for $80 towards purchases with AIR MILES Cash).
BMO CashBack Mastercard For Students
5% cash back
Up to 3% cash back
20.99%
$0
Min. recommended credit score: 660
Get up to 5% cash back in the first three months (up to max. spend of $2,500).
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Who gets to use Mastercard car rental insurance?

You and individuals you add to the rental agreement are covered by Mastercard car rental insurance.

Bottom line

While certain Mastercard products do offer car rental insurance, this benefit’s inclusion ultimately comes down to the issuer’s discretion. Check with your issuer to see if you have access to the feature. If this feature is important to you and you don’t necessarily want a Mastercard, compare other credit cards with car rental insurance.

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