Today we published a new detailed guide for Canadian Credit Card Car Rental Collision Damage Waiver (CDW) Insurance on the main Rewards Canada website. This guide takes a deep dive into one of the most popular and widely used benefits provided on most premium and ultra premium credit cards. It is one of the few insurance benefits that actually has front end value as it can save cardholders significant amounts of money by not having to pay for the car rental company’s insurance. That value can grow exponentially should the renter damage their rental car in an accident or if the car is stolen. However there are steps renters should take to make sure they are properly covered and not violating the terms of their card’s insurance policy and that’s where Rewards Canada’s new guide comes in handy.
Rewards Canada examined the policies of 70 credit cards and provides highlights of what is covered, what is excluded and brings forth terms and conditions that many cardholders may not even be aware of that can be crucial to them receiving or not receiving coverage. The last thing a renter wants to be on the hook for is damaging a $90,000 car that they received as an upgrade and then finding out afterwards their card won’t cover a car of that value! The guide also includes real world examples of where coverage may be excluded and what happens if you do damage your rental car.