Cibc Credit Card Auto Rental Insurance: A Comprehensive Guide

For travelers, it’s important to have the right insurance coverage to keep yourself and your belongings safe during a trip. Auto rental insurance is one type of coverage that can provide peace of mind while on the road. CIBC Credit Card Auto Rental Insurance can provide protection for you and your rental car and is included with select CIBC credit cards.

CIBC Credit Card Auto Rental Insurance provides coverage for collision and damage to the rental vehicle when you use your CIBC credit card to reserve and pay for the rental. It also provides some reimbursement for towing and other related costs in the event of an accident. The coverage is worldwide and applies to all rental periods, from a few hours to multiple months. This coverage is only available for personal auto rentals and does not apply to business rentals.

What Does CIBC Auto Rental Insurance Cover?

CIBC Auto Rental Insurance provides coverage for the following types of losses:

Theft of the rental vehicle
Damage to the rental vehicle
Liability for damage to another person’s property
Liability for bodily injury to another person
Towing and storage costs
Reasonable repair costs

This coverage also applies to rental trucks, vans, and motorcycles, so long as the rental is for personal use. Note that certain items, such as tires, glass, and upholstery, are not covered.

What Are the Eligibility Requirements?

In order to be eligible for CIBC Auto Rental Insurance, you must meet the following criteria:

You must be at least 21 years old
You must reserve and pay for the rental with your CIBC credit card
You must decline the rental agency’s Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW)
You must not be a resident of the rental country or have a permanent address there

What Is the Coverage Limit?

The maximum coverage limit of CIBC Auto Rental Insurance is $65,000 CAD. However, the coverage limit is typically lower if you rent in certain countries, such as Israel, Jamaica, or Ireland. You can view a full list of the coverage limits for each country on the CIBC website.

What Other Types of Insurance Can I Get with My CIBC Credit Card?

In addition to Auto Rental Insurance, CIBC Credit Cards offer several other types of insurance coverage. These include:

Purchase Security and Extended Warranty
Trip Cancellation/Interruption Insurance
Flight Delay Insurance
Hotel/Motel Burglary Insurance
Lost or Stolen Baggage Insurance

These insurance policies are available on select CIBC credit cards. To learn more about the coverage offered by a specific card, please refer to the credit card agreement.

Conclusion

CIBC Credit Card Auto Rental Insurance is a great way to protect yourself and your rental car while on a trip. This insurance provides coverage for theft, damage, and liability, and can also reimburse towing and other related costs in the event of an accident. It is important to make sure you meet the eligibility requirements and are aware of the coverage limits of this insurance before you make a rental car reservation.