Considering the new Chase Ink Business Preferred card?
Along with the 80,000 Chase Ultimate Rewards point sign-up bonus (the highest public bonus I’ve seen for a Chase small business card!), the Chase Ink Business Preferred card offers great perks like primary car rental insurance.
And that can save you money!
I’ll explain how it works.
Chase Ink Business Preferred Rental Car Insurance
Like the Chase Sapphire Preferred and Chase Sapphire Reserve, you’ll get primary rental insurance when you use your Chase Ink Business Preferred card to pay for your car rental (during a business trip!) and decline the rental agency’s collision damage waiver (often called CDW or LDW).
The Chase Ink Business Preferred rental car insurance applies to rentals of 31 consecutive days or less in the US and most foreign countries. But you must report your claim within 60 days of the loss and send in the claim form within 100 days of the loss, to claim any benefits.
If you decline the Collision Damage Waiver (CDW) offered by the car rental agency, and charge your rental to your Chase Ink Business Preferred card, the credit card insurance will pick up the bill for physical damage / theft, loss-of-use charges, and towing for the rental car if you get into an accident (up to the value of the rental car). Without requiring you to file a claim with your personal car insurance company.
You MUST be renting the car for business purposes if you’re inside the US. Although it will provide primary rental insurance for personal rentals outside of the US.
Plus, lots of folks think that a credit card’s primary car rental insurance covers ALL damages. That’s not true! It only pays for the damages to your rental car.
What’s NOT Covered?
You are liable for any damages to another car, injuries to you or others, and any property damage. But your personal car insurance policy may cover those claims.
Also, certain expensive or antique cars are NOT covered. Like Rolls Royces, Lamborghinis, and Ferraris, or any vehicles over 20 years old.
And if you use your Chase Ink Business Preferred card to pay for a car rental for personal use inside the US, the rental coverage is secondary.
How Do You File a Claim?
To report a claim, you can call the number on the back of your Chase Ink Business Preferred card or call Chase Ink Benefit Services at 888-320-9956 to start the claims process.
You’ll also have to provide documentation to support your claim. Like written confirmation from your employer that the rental was for business purposes, or a copy of the receipt showing the full amount of the rental was charged to your card.
More Reasons to Use Your Ink Preferred Business Card
In addition to getting primary car rental insurance when you use your Ink Business Preferred card for a car rental, you’ll also earn 3X Chase Ultimate Rewards points per $1 you spend. Because a car rental counts as a travel purchase!
Plus, you can redeem Chase Ultimate rewards points for 1.25 cents each towards travel (including car rentals!) through Chase’s travel portal. It often has better deals than other car rental sites!
Other Cards That Offer Primary Car Rental Insurance
If you’re looking for other cards that offer primary car rental insurance, consider these:
- Chase Ink Cash® Business Credit Card
- Chase Sapphire Preferred
- Chase Southwest Rapid Rewards® Premier Business Credit Card
- CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®
- Citi Prestige® Card
- Premier Rewards Gold Card from American Express
Read the fine print, because small business cards typically provide primary coverage when you rent for business purposes. And take a look at my post about 13 cards with primary rental car insurance.
The Chase Ink Business Preferred card includes primary rental car insurance when you use the card to pay for a rental for business purposes.
For rentals outside the US, the primary coverage applies to personal rentals too.
You must decline the Collision Damage Waiver (CDW) offered by the car rental agency to qualify. And you’ll be covered for damages to your rental car. But NOT for damages to another car, property, or injuries to yourself or others.