Bank Of America Credit Card Rental Car Insurance

Bank of America cardholders receive many perks on rental car insurance, travel and credit cards too.

Unlock worry-free travel with Bank of America Credit Card Rental Car Insurance. Whether you’re a frequent road tripper or occasional renter, this article is your ultimate resource. We’ll dive into the details of Bank of America’s credit card insurance, providing an in-depth understanding of its benefits and coverage. From collision damage waivers to liability protection, we’ll explore how this insurance safeguards you and your rental vehicle. Learn about the benefits of a Bank of America Credit Card, ensuring you make the most of this valuable perk.

Discover the peace of mind that comes with knowing you’re protected on the open road, allowing you to focus on the joy of your journey. Don’t miss out on this essential information that can save money and provide protection during your next car rental adventure with Bank of America Credit Card Rental Car Insurance.

Bank of America Travel Rewards Card Benefits Guide

The Bank of America Premium Rewards credit card provides users with two travel articulation credits. To begin with, you can get up to a $100 air terminal security proclamation credit once, like clockwork, to balance the expenses for pursuing TSA Precheck or Global Entry.

Also, you can get up to $100 in travel statement credits to balance airlines’ coincidental buys, for example, seat overhauls, staff charges, in-flight administrations, and aircraft lounge expenses. These credits should be applied to your record once the charges post, yet check those conditions repeatedly to ensure they’re applied.

 Image Source: Bankrate
Image Source: Bankrate

The Bank Of America is designed for individuals who frequently travel. It provides various benefits and rewards that can enhance your travel experiences. Here’s a guide to other Bank of America Travel Rewards Card benefits.

  • Travel Awards: The card offers rewards for every dollar spent on purchases. These rewards can be redeemed for travel-related expenses, such as flights, hotels, car rentals, and cruises.
  • Sign-up Bonus: Upon meeting certain spending requirements within a specified time frame after opening the account, you may be eligible for a sign-up bonus in the form of additional travel rewards.
  • No Foreign Transaction Fees: When you use your Bank of America Travel Rewards card for purchases outside the United States, you won’t be charged any foreign transaction fees. This feature can save you money when traveling internationally.
  • Travel Protection: The card may provide certain travel protections, such as trip cancellation/interruption insurance, baggage delay insurance, and travel accident insurance. These benefits can offer financial coverage in case of unexpected events during your travel.
  • Chip Technology: The Bank of America, Travel Rewards card typically includes an embedded chip that provides enhanced security and global acceptance. Chip technology offers added protection against fraud when making purchases at chip-enabled terminals.
  • Auto Rental Collision Damage Waiver: Using your card to rent a car may provide coverage against collision damage and theft, saving you money on purchasing additional insurance from the rental car company.
  • Concierge Services: Depending on the specific version of the Bank of America Travel Rewards card, you may have access to a dedicated concierge service. This service can assist you with travel-related inquiries, reservations, and recommendations.
  • Zero Liability: Bank of America typically provides zero liability protection if unauthorized charges are made on your card. This means you won’t be held responsible for any fraudulent transactions.

It’s important to note that specific terms and conditions, including annual fees, interest rates, and rewards structures, may vary depending on the exact version of your Bank of America Travel Rewards card. Therefore, it’s advisable to review the detailed terms and conditions provided by Bank of America or contact their customer service for precise information tailored to your card.

Does my Credit Card cover Rental Car Insurance?

Credit cards ordinarily add crash harm, so you won’t be considered answerable for any burglary or damage to the rental vehicle.

When you get your rental vehicle, you’ll have to choose whether to pay for the rental organization’s collision damage waiver (CDW). The waiver gets the obligation from you if any harm may be caused while in your ownership. If your credit card gives free CDW security as a piece of its prize, you can set aside some cash and try not to need to pay for your current insurance.

 Image Source: NerdWallet
Image Source: NerdWallet

Bank of America

  • Vehicle rental protection is incorporated with all Bank of America credit cards.
  • Visa cards cover 31 rental days straight, and Mastercards cover 15 rental days straight.
  • Visa cards shield from burglary and harm up to the money estimation of most vehicles.
  • For Mastercards, it conceals robbery and harms to $50,000 or less.
  • Shields from loss-of-utilization and towing costs.
  • Security is secondary coverage on all cards.

Bank of America Credit Card Benefits Guide

Bank of America remains a preferred choice among consumers seeking rewards, exclusive offers, and valuable services. If you possess a Bank of America credit card, here are some advantages you can enjoy now.

Travel Protections

When planning your travels, utilizing your Bank Of America Rewards card allows you to take advantage of valuable travel protection benefits, eliminating the need for additional travel insurance expenses and complications.

The travel protections offered may vary depending on your Bank Of America card. However, these benefits frequently include vehicle rentals, luggage, and trip interruption or cancellation insurance safeguards. Refer to your Bank of America benefits guide to access your protections’ detailed terms and conditions. Notably, the Bank of America Premium Rewards credit card offers many benefits.

 Image Source: Bankrate
Image Source: Bankrate

For Bank of America Premium cardholders, eligible delayed, interrupted, or canceled trips are reimbursed. For instance, if a covered trip is delayed for more than 12 hours and you pay with your eligible card, you can receive up to $500 per ticket.

Additionally, booking airfare with your Bank of America Premium Rewards Card entitles you to baggage coverage. This benefit provides $100 daily for up to five days, helping cover necessary clothing or toiletries until your baggage is delivered. Furthermore, eligible services for you and your immediate family members are covered in emergency transport.

Bank of America Museums on Us Program

The Bank of America Museums on Us program provides cardholders with the exceptional benefit of free admission to over 225 participating museums and cultural attractions across the United States. This offer is valid during the first full weekend of each month and presents cardholders with significant value. The program encompasses various venues, including museums, botanical gardens, aquariums, zoos, and science centers in numerous cities nationwide.

 Image Source: Travel on Points
Image Source: Travel on Points

Bank of America’s list of participating institutions for 2022 is extensive, featuring renowned establishments such as

  • Metropolitan Museum of Art in New York City
  • The San Diego Museum of Art
  • The Reginald F. Lewis Museum of Maryland African American History
  • Culture in Baltimore

To take advantage of this program, cardholders need to present their Bank of America credit card and a valid photo ID at the chosen participating institution. This will grant them one free general admission. It’s important to note that admission is limited to the cardholder alone, and guests are not eligible for the free admission benefit.

Rewards Program

Participating in the Bank of America Preferred Rewards program can elevate your rewards to the next level. A qualifying Bank of America checking account with a minimum total average daily balance of $20,000 or more across accounts is required for this invitation-only program. Through this program, you can earn bonus credit card rewards based on the combined qualifying balances in your Bank of America banking accounts and Merrill investment accounts.

The Preferred Rewards program comprises five tiers:

  • Gold: $20,000 to $49,999
  • Platinum: $50,000 to $99,999
  • Platinum Honors: $100,000
  • Diamond: $1 million to $9,999,999
  • Diamond Honors: $10 million+

These tier thresholds offer substantial benefits. The bonus rate for awards is 25% for Gold members, 50% for Platinum tier members, and 75% for Platinum Honors members. A 75% boost on prizes is available to Diamond and Diamond’s Honors members. The cards that qualify for this bonus are:

  • Bank of America Cash Rewards credit card
  • Bank of America Travel Rewards credit card
  • Bank of America Premium Rewards credit card

Knowing that the Preferred Rewards program does not apply to corporate credit cards, Bank of America co-branded cards, or credit cards with no rewards is crucial.

Rental insurance

Suppose a person is driving a rental car. In that case, all credit cards by the Bank of America offer collision and theft, meaning any loss or damage caused by the collision will be compensated by reimbursing the amount. Moreover, Bank of America offers a roadside dispatch program if you’re driving your car or a rental car and need assistance. The program can provide emergency assistance, towing, and locksmith services, but you have to pay for the service.

Purchase protection perks

Bank of America, retail protection benefits vary depending on the specific card. The Bank of America Premium Rewards card stands out as the top choice among the options in the Bank of America card portfolio.

This card offers notable security benefits. If you’re dissatisfied with an eligible item within 90 days of purchase, and the retailer or merchant refuses to accept your return, you can be reimbursed for the item’s cost. This coverage has a cap of $250 per item and $1000 per year.

Your Bank of America credit card offers many valuable benefits regardless of your specific card. These perks encompass various advantages, from travel and retail protection to complimentary access to participating museums, zoos, and other attractions.

Does the Bank of America Credit Card have an Extended Warranty?

The Bank of America Cash Rewards card offers a maintenance agreement program that pairs the producer’s guarantee term up to a limit of one extra year. The maximum coverage is $10,000; cases must be documented within 60 days of the loss event.

 Image Source: Bankrate
Image Source: Bankrate

Maintenance agreement benefits are commonly overseen with Visa installment organizations- American Express, Visa, and Mastercard- as opposed to credit card issuers like Chase, Citi, Wells Fargo, or your nearby bank. The only network that doesn’t offer service agreements is Discover, which discontinued in 2018.

Alternate Card Options To Consider

If the Bank of America credit cards mentioned above don’t meet your needs, you can explore other card options from different issuers. Here are three cards worth considering.

Chase Sapphire Preferred Card

 Image Source: Business Insider
Image Source: Business Insider

The Chase Sapphire Preferred Card is renowned for its excellent travel benefits and is considered one of the top travel credit cards. While it comes with a $95 annual fee, it provides opportunities to earn valuable Chase Ultimate Reward points. Key features include primary car rental coverage, trip delay reimbursement, and trip cancellation/interruption insurance. Purchase protection and extended warranty protection.

Capital One Venture X Rewards Credit Card

 Image Source: One Mile at a Time
Image Source: One Mile at a Time

The Capital One Venture X Rewards Credit Card also offers primary car rental coverage. Despite its $395 annual fee, the card’s earning potential ad benefits make it worthwhile. Notable perks include a $300 annual credit, 10,000-anniversary miles, and a complimentary Priority Pass Select membership.

The Platinum Card from the American Express

 Image Source: MyBankTracker.com
Image Source: MyBankTracker.com

While the Platinum Card from American Express provides secondary car rental coverage, American Express offers Premium Car Rental Protection optional service for their credit cards. For a flat rate of up to $24.95, you can receive primary coverage for rentals lasting up to 42 consecutive days, with coverage of up to $100,000 for damage or theft. Considering the card’s benefits, such as $1500 worth of credits that can potentially outweigh the $695 annual fee (See rates and fees), this service may be a viable option.

FAQs

Can you rent a car using a Bank of America Credit Card?

Certainly! Bank of America crest cards, which usually operate on the Visa or Mastercard networks, are widely accepted by most rental car agencies. Moreover, these cards offer rental car insurance options. Here are the Bank of America credit cards that provide such coverage.

  • Bank of America® Premium Rewards® credit card (secondary coverage)
  • Bank of America®️ Premium Rewards® Elite Credit Card (primary coverage)
  • Bank of America® Travel Rewards credit card (secondary coverage)
  • Alaska Airlines Visa® Credit Card (secondary coverage)

What is Bank of America Premium Rewards?

Bank of America Premium Rewards is a credit card offered by Bank of America. This card and other Bank of America credit cards allow you to participate in the Bank of America Preferred Rewards program. Being a part of this program, you can earn 25% to 75% more rewards on your purchases.

Does Bank of America Premium Rewards include rental car insurance? 

Absolutely! Both Bank of America Premium Rewards credit cards provide rental car insurance coverage. The Bank of America Premium Rewards credit card offers secondary coverage, while the Bank of America Premium Rewards Elite Credit Card offers primary coverage for rental car insurance.

Conclusion

As a Bank of America cardholder, credit card, and rental car insurance have plenty of benefits. However, you need to make sure that you know exactly what kind of benefits are on what kind of card. This being said, don’t get too impressed with the kind of card and apply, but if the card you choose is an absolute fit for you, apply today to start earning rewards and benefits.

Sandra Johnson

Sandra Johnson

Sandra Johnson was a few years out of school and took a job as a life insurance agent in California, selling coverage door-to-door for Prudential. The experience taught her about the technical components of insurance and its benefits for individuals and society, as well as the misunderstandings people often have about insurance. She has over ten years’ experience in the insurance industry, having worked as both a Broker and Underwriter, assisting clients across a broad range of industries. At Insurance Noon, Sarah diligently gathers all the required information and curates up pieces to provide meaningful insurance solutions. Her personal value proposition is to demonstrate a genuine interest in always adding value for clients.Her determined approach to guiding clients has turned her into a platinum adviser to multiple insurers.