Renting a Car Chase Sapphire Reserve Auto Rental CDW Benefit
This is Mandy from a study and today we are going to talk about the car rental benefit on the Chase Sapphire reserves card. My friends were in town last year during Labor Day weekend and we rented a car from San Francisco to drive to Lake Tahoe. And then when we came back feebly, we decided to grab dinner.
Before returning the car, we parked it in a parking lot in the back of a grocery store, the grocery store was here, and the restaurant we were eating at was here. Someone smashed our windows and stole my friend’s stuff while we were eating.
The first thing we did was filing a police report, just to notify the police station of the incident. The second thing I did while my friend was on the phone with the police to report the incident was taking out my Chase Sapphire Reserve card, and calling the number on the back of the card to speak to the benefits administrator to see what we need to do in order to file a claim with the rental insurance.
The benefits administrator sent me an email to start the claim process, and then we took two pictures of the vehicle while we were on site in the parking lo and one of the most important things is to make sure the license plate is visible in conjunction. So you can prove that you’re sending pictures of the damaged car.
So these are the main things that you need to know about the Chase Sapphire Reserve. When you use it as car vessel insurance, the first thing is that it serves as primary car insurance for you, which means that whenever you rent a vehicle, you don’t have to involve your personal car insurance at all.
So if an incident happens, they will always use the Chase Sapphire reserve before they tap into your personal car insurance. It is important to note that the collision damage waiver does not cover liability insurance, which means if you damage someone else’s property or if you’re in a car action and it is your fault, then you have to be responsible for those damages.
So be sure to check with your personal coverage to see if it covers rental vehicles. If it doesn’t, the car agencies usually have monthly reliable insurance that you can purchase, the Chase Sapphire reserve car rental insurance covers the vehicle for damages and or accepts up to $75,000 which includes the loss of use fees.
The Chase Sapphire Reserve accesses great primary coverage when renting this vehicle, but there are a few scenarios where it might make sense to purchase the insurance directly from the car agency.
The reason why I say this is that when you purchase the collision waiver or lost damage waiver from a rental agency, they have a walk-away policy which is nice, because if you damage the car, you can hand them the keys and let them take care of it and you don’t have to deal with the lengthy claim process, and you are saving time.
So if you’re in a rush, you damage a car and you have to catch a plane and you don’t want to go through all the paperwork, you can bring in two keys and let the insurance agency take care of that, so this is where it doesn’t make sense to use the Chase Sapphire reserves car rental insurance.
The first scenario is that if you rent a car that exceeds $75,000 worth in value and the card only covers $75,000, if the car happens to get stolen or damaged and the damages exceed $75,000, you may got stuck in the bill.
The second scenario where it doesn’t make sense to use your reserves car rental insurance is that if you have some other bills, so what this means is that there are certain types of vehicles that the reserve will not cover you these, include antique vehicles, mopeds motorcycles, limousines and RVs.
So definitely call your benefits administrator to see if the car you’re renting is covered under to reserve. If not, you can also call and check with your personal policy to see if that type of car is covered. If not, you can always buy the insurance of the car agency.
When you file a claim with the benefits administrator, you have 60 days to report the claim and notify the reserve that you damaged the car or if the car was stolen and you have a hundred days from that incident date to submit your claim.
So 60 days for notification and a hundred days to actually submit the claim case is good with responding to questions, you’ll be notified within five days if it’s been approved, declined or if they need more information.
The biggest pain point on using the card benefit is that with the car rental agency, in my experience, it basically takes them one whole month to process the bill and then another month to give me a final bill on the amount they owe, so the whole process, in general, takes three months and I have to follow up with the car rental agency to see if they have filed my claim yet.
My claim in the process is to find out what I can give Chase to complete the claim of the benefits administrator, including a copy of the original rental agreement, a statement of your credit cards which says that I paid in full for a rental.
I reserved an item, I prepared a bill from the rental company, the police report on damages and the cost of damages. So if your car is stolen or damaged in vandalize, you need to submit a police report with pictures of the damaged car and a notarized note. If you don’t have personal car insurance, just say you don’t own insurance.
If you’re looking for a more detailed list, I put a link of our blog below, it lists out every single document you’ll need. Overall, the whole process took me three months when the rental agency and Chase made sure all the documents were in order.
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