Many premium bank cards include the advantage of rental automobile insurance coverage. Understanding bank card rental automobile insurance coverage can provide you peace of thoughts and prevent cash the following time you hit the street. Let’s dive into the perfect bank cards in Canada with such a protection.
Greatest bank cards for rental automobile protection
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Gold: Greatest for automobile rental insurance coverage
BMO CashBack World Elite MasterCard
Covers leases with an MSRP as much as $65,000 for as much as 48 days. Plus, get reductions on automobile leases, free roadside help and gasoline financial savings at Shell.
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Curiosity Charges:
21.99% buy, 23.99% money advance, 23.99% steadiness switch
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Silver: Greatest for automobile rental insurance coverage
TD Money Again Visa Infinite Card
Covers leases with an MSRP as much as $65,000 for as much as 48 days. Get reductions on automobile leases and free roadside help.
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Curiosity Charges:
20.99% buy, 22.99% money advance, 22.99% steadiness switch
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Bronze: Greatest for automobile rental insurance coverage
Scotiabank Gold American Specific Card
Covers leases with an MSRP as much as $65,000 for as much as 48 days. Plus, get reductions on automobile leases.
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Curiosity Charges:
20.99% buy, 22.99% money advance, 22.99% steadiness switch
Welcome provide:
$450 worth
Earn as much as $$780 in worth within the first 12 months, together with as much as 40,000 bonus Scene+ factors. To qualify, apply by July 1, 2025
Bank cards that present rental automobile insurance coverage
Evaluate a number of bank card choices with this profit, or preserve scrolling for our editors’ high picks. Can’t see all the small print in your display screen? Merely slide the columns utilizing your fingers or trackpad, or you possibly can hover your mouse over the desk to entry the scroll bar on the backside.
| Annual charge | Rewards earn fee | Rental automobile theft and injury protection | Rental automobile accident quantity | Rental automobile protection interval | Rental automobile low cost | Consists of free roadside help | Low cost on gasoline purchases | Really useful revenue | Really useful credit score rating | Apply now (featured playing cards solely) | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMO CashBack World Elite Mastercard
|
$120 | As much as 5% money again | MSRP as much as $65,000 | MSRP as much as $65,000 | 48 days | As much as 20% at Nationwide and Alamo areas | Sure | As much as 7 cents off per litre at Shell | $80,000 (private) or $150,000 (family) | 760 or increased | Go to website |
| TD Money Again Visa Infinite Card
|
$139 | As much as 3% money again | MSRP as much as $65,000 | MSRP as much as $65,000 | 48 days | Minimal of 10% off at Avis and Price range areas in Canada and the U.S. | Sure | n/a | $60,000 (private) or $100,000 (family) | 680 or increased | Go to website |
| Scotia Gold American Specific Card
|
$120 | As much as 6 Scene+ factors per $1 spent | MSRP as much as $65,000 | MSRP as much as $65,000 | 48 days | As much as 25% off base charges at Avis and Price range areas in Canada and the U.S. | No | n/a | $12,000 | 725 or increased | Go to website |
| American Specific Cobalt Card
|
$156 | As much as 5 Membership Rewards factors per $1 spent | MSRP as much as $85,000 | MSRP as much as $85,000 | 48 days | n/a | No | n/a | n/a | 725 or increased | Go to website |
| Scotia Platinum American Specific Card
|
$399 | As much as 2 Scene+ factors per $1 spent | MSRP as much as $65,000 | MSRP as much as $65,000 | 48 days | n/a | No | n/a | $12,000 | 760 or increased | Go to website |
| Scotiabank Passport Visa Infinite Card
|
$150 | As much as 3 Scene+ factors per $1 spent | MSRP as much as $65,000 | MSRP as much as $65,000 | 48 days | Complimentary automobile upgrades, 5% to 25% low cost at Avis areas in Canada and U.S. | No | n/a | $60,000 (private) or $100,000 (family) | 725 or increased | Go to website |
MoneySense award winners
Dive into the professionals and cons of our Gold, Silver and Bronze winners, and discover out why they’re the perfect for auto rental insurance coverage.
Gold: BMO CashBack World Elite Mastercard
At a look: The BMO CashBack World Elite Mastercard is the perfect card for rental automobile insurance coverage in Canada. With this card, leases with a producer’s urged retail value (MSRP) of as much as $65,000 are lined for as much as 48 days within the case of an accident, injury or theft. Plus, you get complimentary entry to roadside help by means of a free Dominion Car Affiliation (DAA) membership and gasoline financial savings at Shell gasoline stations.
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BMO CashBack World Elite Mastercard
Annual charge: $120 (waived first yr)
Welcome provide: Earn as much as 10% money again throughout your first 3 months on as much as $2,600 in purchases.
Card particulars
| Rates of interest | 21.99% on purchases, 23.99% on money advances, 23.99% on steadiness transfers (21.99% in Quebec) |
| Earnings required | Private revenue of $80,000 or family revenue of $150,000 |
| Credit score rating | 760 or increased |
Professionals
- Roadside help: Consists of 4 free service calls per yr, together with towing (as much as 10 km), tire modifications, winching, battery boosts, lockout help, emergency gasoline supply and extra.
- Gas financial savings: Save as much as 7 cents per litre at Shell areas.
- Insurance coverage: Intensive insurance coverage for a money again card, together with protection for journey medical, rental vehicles, baggage, flight delays and extra.
- Excessive earn charges: Earn as much as 5% again in 4 main spending classes.
Cons
- Incomes caps: The bonus classes have low month-to-month spending limits, starting from $300 to $500, which is restrictive for a premium card. Purchases above these month-to-month limits earn on the 1% base fee.
- Excessive revenue necessities: This card could also be much less accessible.
Silver: TD Money Again Visa Infinite
At a look: This card presents rental automobile insurance coverage for automobiles valued as much as $65,000 MSRP for 48 consecutive days. Plus, cardholders earn 3% money again on gasoline, groceries and recurring invoice funds. This is without doubt one of the solely different playing cards in Canada to supply free deluxe roadside help, protecting issues like towing, battery help, gasoline supply and extra.
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TD Money Again Visa Infinite Card
Annual charge: $139 (rebated first yr)
Welcome provide: Earn as much as $600 in worth, together with 10% money again on eligible purchases throughout the first three months (on as much as $3,500 in purchases). Situations apply.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on steadiness transfers |
| Earnings required | Private revenue of $60,000 or family revenue of $100,000 |
| Credit score rating | 680 or increased (beneficial) |
Bronze: Scotiabank Gold American Specific
At a look: The Scotiabank Gold American Specific gives rental automobile insurance coverage for automobiles valued as much as $65,000 MSRP for 48 consecutive days. With a $120 annual charge, you earn 6 Scene+ factors per $1 spent at Sobeys-owned grocery shops (together with Safeway, FreshCo and Foodland); 5 factors on groceries at different grocery shops and on eating places and leisure; 3 factors on gasoline, each day transit and streaming providers; and 1 level on all different purchases. It’s additionally one of many uncommon Canadian bank cards that doesn’t cost a overseas transaction charge on overseas foreign money purchases.
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Scotiabank Gold American Specific
Annual charge: $120
Welcome provide: Earn as much as $780 in worth within the first 12 months, together with as much as 40,000 bonus Scene+ factors. Provide ends July 1, 2025.
Card particulars
| Rates of interest | 20.99% on purchases, 22.99% on money advances, 22.99% on steadiness transfers |
| Earnings required | $12,000 per yr |
| Credit score rating | 725 or increased |
| Level worth | 1 Scene+ level = $0.01 when redeemed for journey, retailer purchases and food and drinks at Cineplex and Scene companions |
Runner up: American Specific Cobalt
At a look: The American Specific Cobalt presents complete insurance coverage for rental vehicles with an MSRP of as much as $85,000 for as much as 48 consecutive days. For an annual charge of $156, this card offers you 5 factors per $1 on eating and groceries; 3 factors on streaming subscriptions; 2 factors on gasoline, transit and experience shares; and 1 level on all different purchases.
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American Specific Cobalt
Annual charge: $156
Welcome provide: Earn 1,250 factors for every month you spend $750, as much as a most of 15,000 factors.
Card particulars
| Rates of interest | 21.99% on purchases, 21.99% on money advances |
| Earnings required | None specified |
| Credit score rating | 725 or increased |
| Level worth | 1 Amex Membership Rewards level = $0.01 when redeemed with the Versatile Factors Journey Program, $0.015 on common with the Fastened Factors Journey Program, and as much as $0.02 with airline factors transfers |
What’s bank card automobile rental insurance coverage?
Bank card insurance coverage protection for rental vehicles sometimes features a collision injury waiver (CDW) and a loss injury waiver (LDW), which protects you from monetary legal responsibility in case your rental automobile is broken or stolen. It sometimes solely comes into impact when a rental is absolutely charged to your bank card, and it’s essential to usually decline the rental automobile company’s collision injury waiver (CDW) advantages. If there isn’t a clearly marked space on the contract asking you to say no protection, some bank cards insist that you simply write on the settlement your self: “I decline the CDW offered by the rental company.”
Some types of injury will not be lined, so it’s smart to learn the high-quality particulars of the bank card’s insurance coverage contract earlier than you apply.
What does bank card rental automobile insurance coverage cowl?
Bank card rental automobile insurance coverage sometimes covers:
- Injury to the rental car because of a collision or an accident
- Theft of the rental car
- Loss-of-use costs, that means the price of alternate transportation whereas your car undergoes repairs
- Towing costs associated to a lined loss
The next are frequent exclusions. Bank card issuers could have completely different exclusions, so at all times learn your insurance coverage settlement fastidiously.
- Legal responsibility for injury to different automobiles or property
- Private belongings stolen from the rental automobile
- Unique or luxurious vehicles exceeding the protection restrict. (Observe that automobiles like transferring vans, bikes and pick-up vehicles are forms of transportation usually excluded from protection.)
- Leases in some international locations
- Leases exceeding the utmost protection interval
Does roadside help apply to rental vehicles?
Some roadside help packages provide protection extending to rental vehicles, for the reason that protection is linked to the cardholder fairly than a particular car. So long as the rental you’re driving is plated and registered, you could be lined below some packages. Nonetheless, it’s important to dive into the high-quality print of your card’s program or name customer support for extra data, since protection can differ. This ensures you perceive any limitations or circumstances and confirms you’re absolutely protected whenever you need assistance on the street.
