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Credit Card Auto Insurance

There are many benefits to using your credit card to pay your auto insurance policy in full or to pay in installments. Paying for your auto insurance by credit card offers convenience (you can pay online or over the phone in seconds); faster processing than paying by electronic check or by mail (payments are usually processed within one business day); and easier payment tracking via your credit card statement and your online account’s payment history section.  In some cases, if you authorize monthly debits to your credit card to cover the cost of your auto insurance payments, auto insurance companies may offer discounts. When it comes to auto insurance, credit cards also offer major benefits with regard to car rental insurance. While your personal auto insurance policy may also cover car rentals, some credit cards will offer coverage for your rental car in the event of an accident or theft. In these cases, auto insurance coverage for your car rental (through your credit card company) may cancel the need for the standard Loss Damage Waiver (LDW) or the Collision Damage Waiver (CDW) offered by the car rental company at the time of rental. It is best not to assume, however, that your credit card company will provide automatic auto insurance for your car rental. More importantly, if your credit card company does offer auto insurance for your car rental, it may only cover certain types of vehicles. In general, credit card companies do not offer auto insurance coverage for SUVs, exotic cars, expensive luxury cars, or vans.

Before using your credit card to rent a car, contact the credit card company to get specific details about what coverages they will provide for your rental car. The different types of coverages vary greatly depending on the type of credit card (Visa, MasterCard, American Express, Diner’s Club), and it also depends on the type of account the cardholder currently has. In general, however, many credit cards cover theft, collision, and towing. They may not cover property damage, bodily injury, or theft of personal belongings. Get free auto insurance quotes here at AutoCarInsurance.com. Begin by filling your zip code in the box above.