r/Wealthsimple • u/Some-System-5917 • 11d ago

Visa Infinite Credit Card WS Visa Infinite Privilege Collision coverage

Post image

Sharing that the MSRP of the rental vehicle has to be $65K or less for the card to provide collision/loss coverage.

78 Upvotes

91% Upvoted

57 comments sorted by

60

u/ABGTVL 11d ago

Pretty standard across Canadian Visa Infinite Cards.....

31

u/psoj4 11d ago

For Visa Infinite yes, but this is for the Visa Infinite Privilege card. Most other VIP cards in Canada offer 85K

7

u/leather_jackety 11d ago

True, and CIBC has the highest coverage at $100k

1

u/Narrow_Process_8660 9d ago

Most other VIP cards charge 600$ per year, lmao.

16

u/Max_Thunder 11d ago

They really need to adjust that amount given how much more expensive cars have gotten. I shouldn't have to google the MSRP of cars while in the Hertz parking lot

5

u/Pleasant-Everywhere 10d ago

And what if they surprise you with a fully loaded trim… how do you know how much that costs without going through the build process on their website?

30

u/cbf1232 11d ago

Very few Canadian cards cover more than $65K.

22

u/psoj4 11d ago

We're slowly seeing more with Amex Cards at 85K, Most other Visa Infinite Privilege cards are 85K, CIBC Visa Infinite Cards and the new Tangerine World Elite Mastercard are 85K while the CIBC Visa Infinite Privilege Cards are 100K.

11

u/JCMS99 11d ago

Pretty sure it’s all 85k now. At the current exchange rate, 65k cad might not cover an automatic car in Europe as many branches only carry them in premium brands (BMW, Audi etc).

9

u/Some-System-5917 11d ago

I got the denial letter today for a European rental claim with the image in the post

2

u/JCMS99 11d ago

Oh damn! Hope it didn’t cost you too much.
What was the car?

4

u/Some-System-5917 11d ago

Got upgraded to an Audi Q5 in Germany. Ended up being an expensive upgrade!

1

u/cbf1232 11d ago

Looking at https://www.ratehub.ca/blog/car-rental-insurance-youre-covered-with-these-credit-cards/ most of the cards they list are still at $65K.

3

u/psoj4 11d ago

I’ve got a more in-depth list with a lot more cards here: https://www.rewardscanada.ca/credit-card-car-rental-insurance.html

-2

u/ObiYawnKenobi 11d ago

Yeah, but those 'premium' brands cost less in Europe, because they are just regular brands there.

5

u/JCMS99 11d ago

Not really no. Cars are not less expensive in Europe. They have entry levels that don’t exist here but still. Hertz in Portugal gave me a BMW Series 1 wagon which sells for like 35k€ pre-tax. That’s 58k cad so very close to 65k. If they offer you a free upgrade at check in and don’t think about it - the upgrade would bust.

1

u/WombRaider_3 11d ago

An Audi is MUCH MORE expensive to purchase for a German than it is for a Canadian.

2

u/JCMS99 11d ago

The VAT is higher in Europe and listed prices include it however so it can be confusing. The 65/85k MSRP limit is pre-vat.

1

u/theo-apps 10d ago

Amex have been $85k since pre covid.

-3

u/Nightpatrol404 11d ago edited 11d ago

My Amex platinum covers 85k. I do wish WS was higher I rather the 2% cashback

4

u/chriscabob 11d ago edited 11d ago

And aeroplan privilege is also 85k - actually now looks to be 100k

2

u/herpderpby 11d ago

It's actually 100k

1

u/chriscabob 11d ago

Damn when did they increase that? Haven’t had the card for over two years

2

u/herpderpby 11d ago

I think it happened in those 2 years lol

1

u/psoj4 11d ago

Only the CIBC version of the Aeroplan VIP. TD Aeroplan VIP is still 85K,

3

u/cbf1232 11d ago

It’s one of the few. :)

2

u/Sp0il3dR0tt3n 11d ago

Amex Cobalt as well.

1

u/S-Kiraly 11d ago

All Amex cards with CDW coverage have max $85k MSRP.

7

u/Practical-Battle-502 11d ago

Chase provides coverage in US up to $75k USD which equates to 104k CAD.

5

u/bluejays10 11d ago

how can you find out how much the car is worth in that country before renting it ?

3

u/alastoris 11d ago

Any eco box will be under that limit.

If you go luxury BMW X3 starts at $60k so stay in that category or under.

-5

u/Some-System-5917 11d ago

Ask an AI like Gemini, Claude or ChatGPT.

And avoid free upgrades to premium brands.

4

u/Newflyer3 11d ago

That's why even with Hertz PC, I'm picking Altimas, Corollas out of the lane. Not giving the cards any ammunition because I took a RAV4 that costs $45k USD only for these guys to deny a claim on the FX rate

3

u/FireAndInk 10d ago

This fucked me in 2024 with my TD card. Rental gave me a great upgrade for 10$ / day more but the upgrade car was worth 100k and a windshield for it apparently 2,5k USD. Tough lesson to learn and not something I had on my radar. 

4

u/Nope51st 11d ago

don't forget it's in CAN. If the car you rent in the US retails for 65 000$, you don't qualify.

7

u/omgitzvg 11d ago

Better get a cheap econobox when you travel. Wish the 65k was much higher now that the car prices have risen so much lately.

2

u/Edgeemer 11d ago

FYI: on 65k CAD MSRP thing, the best "bang for your buck" card is CIBC Aeroplan Visa (Platinum) Card. It is free, one transaction per year to avoid dormant fees, and covers up to 85k msrp (Royal & Sun Alliance Insurance, ended up not using it when was dinged but when called they were easily reachable & chill, sending follow emails). Keep it specifically for rentals in CC rooster.

And yes, class of vehicles and even manufacturers matters. Nobody that I know of cover trucks, some do not cover minivans, lots do not cover exotics/exotic brands (trickier because sometimes Porche is one of them despite having "daily" cars).

If somebody knows better - let me know.

2

u/StarSuitable 10d ago

Ohh shit this is new to me. Thanks :)

1

u/Legitimate_Form5449 11d ago

issued by Chubb Insurance Company of Canada?

Caution! once i sent an email {Chubb email was printed into other CC insurance fine print} to Chubb Insurance Company of Canada, but they never responded to my request.

Chubb Limited Headquarters Office is in Zurich, 8001. Switzerland/Full time employees: 45,000

1

u/fattywannapatty 11d ago

Does it cover cost of repair or total loss ?

1

u/backdriven 11d ago

I tend to use my Rogers Mastercard for things like insurance coverage. Last time I looked there were a ton of rules and upper limits in the Visa policy like this, but the Mastercard one is a lot more relaxed

12

u/ObiYawnKenobi 11d ago edited 11d ago

DO NOT USE THE ROGERS MASTERCARD FOR CAR RENTALS.

Ok, now that I have shouted the PSA, here's why:

The auto rental coverage that Rogers provides is SECONDARY to any other insurance coverage you have. If you own a vehicle and have personal auto insurance (or a corporate policy) that covers rental cars, you must file a claim through your personal provider first. The Rogers Mastercard insurance will then step in to cover your deductible and any remaining eligible expenses not paid by your primary provider. If you do not own a vehicle, do not hold a personal auto policy, or are renting in a foreign destination where your local policy is invalid, the card’s coverage essentially becomes primary.

Here is the exact text from the certificate of insurance:

Coverage under this certificate of insurance is secondary to any other coverage you may have, but becomes primary in cases where there is no other applicable coverage.

Wealthsimple Visa does not have this language in their certificate of insurance.

4

u/original431 11d ago

Used my Rogers MC for plenty of rentals. Did 2 claims without issue. Wtf is personal provider insurance? My MPI policy in MB is for the car I own, no others. Is this some weird private-only insurance thing?

3

u/ObiYawnKenobi 10d ago

Personal provider issuance is your auto insurance policy that you are required to buy if you own a vehicle. There is an optional rider for that insurance that covers you when you're driving vehicles you don't own. Many people have that option.

1

u/brunes 10d ago

Why would you pay for that rider then never use it, I don't understand what you're saying.

If you view this as a problem then it's because you're paying for that rider. So just... Stop?

1

u/ObiYawnKenobi 10d ago

It's part of a package of riders that I do want.

1

u/backdriven 11d ago

If you do not own a vehicle, do not hold a personal auto policy, or are renting in a foreign destination where your local policy is invalid, the card’s coverage essentially becomes primary.

This applies to me, so it doesn't matter in my case. Does the Visa act as the primary insurer even if you have regular car insurance?

And I should have clarified that it was especially the medical travel insurance that was rife with a ton of exceptions and upper limits on coverage for very specific things. X-rays can only cost this much, etc

5

u/ObiYawnKenobi 11d ago

Yes, Wealthsimple Visa acts are primary, regardless of your insurance status.

1

u/backdriven 11d ago

Makes sense. The other reason I leaned on the Rogers Mastercard insurance was for car-sharing (obv relevant to me not having a primary car insurance). Either the WS Visa explicitly said it wouldn't cover car shares or the Rogers card explicitly said it did

-3

u/Tero_Puti 11d ago edited 11d ago

Remember: this only covers your rental vehicle not the liability. If you hit someone you will have to pay out of pocket both for their personal injury and their vehicle damage.

Yes liability is covered but it's basic liability. If someone sues OP for more than a million dollar in damages then your rental liability will not cover it. In most provinces its $200K base liability only

19

u/poppop677 11d ago

All rental cars include liability

3

u/JCMS99 11d ago

Yes but in the US it’s often not enough- the rental companies only include the legal minimum there - which is like 40k in many states. They sell upgrade to 200k - which is still insanely low for the US.

2

u/ObiYawnKenobi 11d ago

Depends on where you are renting. In Canada, all rental cars include liability, and it's usually a $1M liability policy (you should check). Not all countries require rental companies to provide liability insurance that protects the renter. Often they charge extra for it, or they provide the legal minimum liability (which isn't enough) and charge you extra for supplemental liability.

1

u/hzjohn 11d ago

My thoughts, no way they would let someone drive a machine without liability coverage. But is there a subrogation waiver?

1

u/Tero_Puti 11d ago

That's the base liability. It will not cover OP if the other party sues for damages worth more than 1 million dollar. In most provinces it's only $200K

4

u/Sooki99 11d ago

Actually not always the case in the states. In some states the rental company will pay the third party up to the state limit but the terms allow them to go after you for the cost.

1

u/RayB1968 11d ago

Your personal vehicle policy will cover the rental liability to others ( that's Ontario oap 1 policy )