Have you ever read the details of your Scotiabank Rental Car Collision Loss / Damage Insurance provided by your credit card?

I have summarized important details as you evaluate whether you need to purchase car rental insurance directly from the rental car company or you can rely on your Scotiabank credit card.

The following credit cards have Scotiabank Rental Car Collision Loss / Damage Insurance:

 

Other insurance benefits information for being a Scotiabank credit card holder is available here:

 

For other credit card issuers, information about their car rental policy is available here:

The information listed below is my interpretation of the insurance policy.

Coverage Eligibility

For all credit cards, the following conditions apply prior to using your credit card car rental insurance:

  1. You must use the credit card to reserve the rental car vehicle with the rental agency.
  2. You must use the credit card to pay for the entire rental from the rental agency.
  3. You must decline the rental agency’s damage waiver coverage.
  4. Coverage will be extended if you use the credit card rewards to pay for your car rental. If the credit card reward will not cover the full amount, then any remaining amount must be put on your Scotiabank credit card. For Scotiabank, this will be using Scene+ Points.
  5. Coverage will be extended if the car rental is part of a prepaid travel package, and the travel package was paid in full on your credit card.
  6. Coverage will be extended for free rentals as a result of a promotion where you had to make previous vehicle rentals, provided, if all previous rentals were paid entirely with your credit card.
  7. Coverage will be extended for rentals made using an airline point program, provided, there are also rental days that are paid under a negotiated rate and that cost is paid entirely with your credit card.
  8. You will be covered for any rentals up to 48 consecutive days.

Coverage is also extended to all additional drivers who legally drive the rental vehicle and who follow all the terms of the rental contract, regardless if they are listed in the rental contract.

A few additional notes that apply specifically to Scotiabank:

  • Car sharing programs are explicitly called out as being covered by Scotiabank
  • Turo or Turo like services are not explicitly called out as being covered by Scotiabank. If you are renting a vehicle from Turo, I would recommend purchasing rental car insurance directly from the platform.

Vehicles Covered

All vehicles that are used to transport a maximum of 8 people, including the driver. The vehicle must also:

  • Exotic brands are not covered. However, luxury brands, such as BMW, or Mercedez Benz are covered, or,
  • Replacement vehicle for which your personal automobile insurance is covering all or part of the cost of the rental, or,
  • Pick-up trucks are not included.

Even though luxury brands are covered, the maximum manufacturer suggested retail price (MSRP) for the vehicle will differ depending on the credit card.

  • All Scotiabank credit cards have a maximum MSRP of C$65,000.

There are more conditions, most of which are irrelevant, that are listed in the certificate of insurance.

What is not covered?

The following are not covered when using the Scotiabank Rental Car Collision Loss / Damage Insurance:

  • Third party liability, or,
  • Personal injury or damage to property, other than the rental vehicle.

There are more conditions, most of which are irrelevant, that are listed in the certificate of insurance.

Additional Drivers

There is no indication that additional drivers will be covered through Scotiabank.

Conclusion

Scotiabank has a very standard Rental Car Collision Loss / Damage Insurance policy provided for holding selected Scotiabank Credit Cards.