Accidents sometimes happen when driving for business purposes: What you should know in case of a collision in a rental vehicle

When renting a vehicle with the YOUR corporate VISA card, you may be entitled to VISA Auto Rental Collision Damage Waiver (Auto Rental CDW) benefit. Certain terms and conditions must be met to qualify for this benefit. Below are some important facts each employee should know prior to renting a vehicle for business purposes:

Who is eligible?
You are eligible only if you are a valid cardholder whose name is on the credit card. Only you, as the primary renter of the vehicle, and any additional drivers permitted by the auto rental agreement are covered. If you are the primary renter of the vehicle, but expect to have other employees driving the vehicle, you must be sure to give these individuals names and a copy of their driver’s license to the rental car agency prior to completing the rental agreement.

What is covered?
VISA Auto Rental CDW reimburses you for the repair or replacement of covered losses to a rental vehicle while it is your responsibility and while it is being used for business purposes. Only vehicle rental periods which neither exceed nor are intended to exceed 31 consecutive days are covered.

The benefit is primary and provides reimbursement up to the actual cash value of the vehicle as it was originally manufactured. Primary means that when your rental is primarily for business purposes, you do not have to claim payment from any source of insurance before receiving coverage under the benefit.

Most private passenger automobiles, minivans, and sport utility vehicles are eligible, but some restrictions may apply. Please contact VISA regarding this.

Covered losses are: Physical damage and/or theft of the covered rental vehicle; Valid loss-of-use charges imposed and substantiated by the rental agency through a fleet utilization log; Reasonable and customary towing charges, due to a covered loss, to the nearest qualified repair facility.

How do I activate this benefit? For the benefit to be in effect, you must: Initiate and complete the entire rental transaction with YOUR Visa card, and decline the vehicle rental company’s collision damage waiver (CDW/LDW) option, or similar provision, if offered by the auto rental company.

A few helpful hints:

- Check the rental vehicle for prior damage before leaving the rental lot.

- Review the vehicle rental agreement carefully to make sure you are declining the CDW/LDW, and also, to familiarize yourself with the terms and conditions of the auto rental agreement.

What to do if you have an accident or the rental vehicle is stolen:

Notify the Office Manager immediately via email or phone. Then call the Benefit Administrator at 1-800-VISA-911 to report the damage or theft, regardless whether liability has been established. All accidents MUST be reported immediately following the theft or damage, but in no event later than 45 days following the date of damage or theft. WARNING! Do not wait until the 44th day to report the damage or theft, this could result in a denied claim.

Amy will place a laminated card in all employees mail boxes with instructions and contact information for reporting damage or theft of a rental vehicle. Please carry this card with you whenever renting a vehicle for business purposes.

If you have any questions at all regarding this post, please contact me as I am always happy to help.

Thanks so much!