Alyssa Lane
The Capital One Quicksilver Cash Rewards Credit Card offers a range of benefits to its users, including rental car collision damage waiver. This means that if you use your Quicksilver card to pay for a rental car and decline the rental company's insurance, you will be covered for any damage or theft of the vehicle. This coverage is secondary to your own insurance policy, so you will need to go through them first if there is any issue with the rental car. There are also some exclusions to the coverage, so it is important to read the terms and conditions carefully. In addition to the rental car coverage, the Quicksilver card also offers travel accident insurance, baggage delay insurance, and trip cancellation and interruption insurance, making it a good choice for those who travel frequently.
| Characteristics | Values |
|---|---|
| Rental car insurance | Does not offer rental car insurance |
| Qualifying cards | Capital One QuicksilverOne and Capital One Quicksilver |
| Coverage | Damage or theft of the vehicle, damage or theft of personal items, loss of use and towing charges |
| Requirements for coverage | Pay for the rental entirely with an eligible Capital One credit card or rewards |
| Auto Rental Collision Damage Waiver | Covers car damage or theft when you use your card to pay for a qualifying auto rental and decline the car rental agency’s insurance coverage |
What You'll Learn
Secondary coverage in the cardholder's country of residence
The Capital One Quicksilver card offers secondary coverage in the cardholder's country of residence. This means that the cardholder's personal auto insurance is applied first, and then the card's insurance supplements it if necessary.
To take advantage of the insurance, cardholders must pay the entire rental amount with their Capital One Quicksilver card and decline the rental company's optional Collision Damage Waiver (CDW).
The card's rental car insurance covers:
- Collision coverage for physical damage to the rental car in case of a collision.
- Theft coverage in case the rental vehicle is stolen.
- Towing charge coverage to recover the rental vehicle if it's towed.
- Loss-of-use charge coverage when the rental company seeks compensation for lost rental revenue if the vehicle is damaged and can't be rented while it's being repaired.
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Primary coverage in non-residence countries
The Capital One Quicksilver card offers a range of benefits to its users, including some travel-friendly features. However, it is unclear whether these benefits extend to non-residents or non-citizens of the United States.
The card does not charge foreign transaction fees, which is beneficial when travelling abroad. It also offers travel accident insurance, which covers cardholders and eligible family members in the event of a qualifying accident when entering, exiting, or travelling in a licensed common carrier. This insurance is provided at no extra charge when the card is used to purchase the travel fare.
The card also offers an auto rental collision damage waiver. This covers car damage or theft when renting a car, but only as secondary coverage to your own insurance policy. This means that if the rental car is damaged or stolen, you will need to go through your insurance company first. If you don't have your own insurance policy, the benefit will reimburse the eligible amount covered for theft and damages, as well as other qualifying charges imposed by the auto rental company while the car is out of commission.
The Capital One Quicksilver card also provides travel and emergency assistance services. If you experience an emergency abroad, this benefit can help you find medical, legal, and travel services by connecting you with local emergency and assistance resources.
While these benefits provide coverage for travel-related incidents, it is important to carefully review the terms and conditions provided by Capital One, as well as the respective Guide to Benefits for your specific card product, to understand the scope of coverage, especially when travelling or renting a car in a non-residence country.
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Coverage for damage, theft, towing and loss-of-use charges
The Capital One QuicksilverOne Card does not offer rental car insurance. However, other Capital One cards, such as the Capital One QuicksilverOne and Capital One Quicksilver, provide this benefit. This insurance covers damage or theft of the rental vehicle, damage or theft of personal items, loss of use, and towing charges.
To benefit from this coverage, cardholders must pay for the rental entirely with an eligible Capital One credit card or rewards. The Capital One rental car insurance covers the same things as the insurance add-on from the rental agency. This includes reasonable towing costs and any valid loss-of-use charges from the rental agency. Loss-of-use charge coverage is applicable when the rental company seeks compensation for lost rental revenue if your vehicle is damaged and cannot be rented while it's being repaired.
It is important to note that credit card rental car insurance may have limitations. For example, it typically does not cover physical injury, damage to other vehicles, property damage to the belongings of others, or luggage/item theft from the rental vehicle. Additionally, there may be restrictions on the types of cars covered, such as antique vehicles.
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Coverage for travel accident insurance
The Capital One Quicksilver Cash Rewards Credit Card offers travel accident insurance as part of its Mastercard World Elite benefits. This insurance covers you and eligible family members for qualifying accidents that occur while entering, exiting, or travelling in a licensed common carrier. To be eligible for this benefit, you must charge your entire travel fare to the Capital One Quicksilver card. Coverage may also extend to qualifying transportation to and from the airport, provided that you charged the fare to your card before departing.
The travel accident insurance covers cardholders, their spouses, and unmarried children up to a certain amount in the event of death and several qualifying permanent injuries. This benefit is available for Capital One Quicksilver cards issued on the Mastercard network.
In addition to travel accident insurance, the Capital One Quicksilver card also offers other travel benefits such as trip cancellation and interruption insurance, lost/damaged luggage reimbursement, and auto rental insurance.
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No foreign transaction fees
The Capital One Quicksilver Cash Rewards Credit Card is a great option for those who travel abroad frequently. The card does not charge any foreign transaction fees, which are typically 1% to 3% of the purchase amount, so you can save money on transactions made outside the United States. This feature, combined with the card's international merchant acceptance, makes it a convenient choice for international travellers.
When travelling abroad, it is essential to be mindful of foreign transaction fees, which are surcharges placed on purchases made outside the United States by credit card issuers. These fees are usually around 3% of the purchase price but can vary depending on the card issuer. Foreign transaction fees are separate from currency exchange rates and are applied after the cost has been converted to dollars.
By choosing the Capital One Quicksilver Cash Rewards Credit Card, you can avoid these additional charges on international transactions. This benefit, along with the card's other travel-friendly features, such as travel accident insurance, baggage delay insurance, and trip cancellation and interruption insurance, makes it a valuable option for those who travel frequently.
In addition to its travel benefits, the Capital One Quicksilver Cash Rewards Credit Card offers a straightforward rewards program, providing cardholders with 1.5% cash back on all purchases, with no limit on how much you can earn. The card also has a $0 annual fee, making it an attractive option for those seeking a simple and cost-effective way to earn rewards and maximize their spending.
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Frequently asked questions
Yes, the Capital One Quicksilver credit card offers secondary auto rental insurance. This means that if you rent a car and it is damaged or stolen, you can use the coverage provided by your credit card if you first pay for the rental with your Quicksilver card and decline the rental agency's CDW coverage.
The auto rental insurance covers damage or theft of the vehicle, damage or theft of personal items, loss of use, and towing charges.
If the rental car is damaged or stolen, you will first need to file a claim with your personal auto insurance provider. If the damage or theft costs are less than your deductible, you can then send the claim to your credit card company.
Yes, the auto rental insurance is secondary coverage, so you will need to go through your personal auto insurance first. Additionally, the coverage may vary depending on where you rent the vehicle from and if you have current domestic car insurance.
Yes, the Quicksilver credit card offers a range of other benefits, including no foreign transaction fees, travel assistance services, price protection, extended warranty protection, and travel accident insurance.
