Get to know your CIBC card benefits

icon - car Created with Sketch.

Auto Rental Collision/ Loss Damage Insurance

Auto Rental Collision/ Loss Damage Insurance

Provides coverage for theft, loss, or damage to a rental car.

Can I decline all insurance coverage at the rental agency?

Car Rental Collision / Loss Damage Insurance covers you for vehicle loss or damage but does not include the contents of the vehicle. There is no coverage for third party liability, personal injury, damage to property, normal vehicle wear and tear or mechanical/electrical vehicle breakdown.

Do I have to pay a deductible with this coverage?

No.

Does Car Rental Collision / Loss Damage Insurance cover third party liability or personal injury to myself or passengers while driving a rental vehicle?

No.

How do I use the Car Rental Collision / Loss Damage Insurance in countries where collision damage insurance from the rental agency is mandatory (i.e. Italy, Australia)?

It is true that collision damage insurance is mandatory in some countries. In this case, should a loss occur, the rental agency will cover your loss according to the terms and conditions of their contract, subject to a deductible. Upon reviewing your claim, we may reimburse you up to the cost of the deductible.

How long can I rent a car for and be covered by my CIBC insurance?

Coverage for the rental vehicle cannot be extended for more than 48 consecutive days. If a rental period is longer than 48 days, no coverage is provided for that entire rental period.

Is the Car Rental Collision/Loss Damage Insurance coverage worldwide?

Yes.

What does my CIBC card cover in terms of car rental coverage?

Provided the full cost of the rental is charged to your eligible CIBC card, Car Rental Collision / Loss Damage Insurance covers you for theft, loss and damage, up to the actual cash value of the rental vehicle and for any rental agency loss of use charges. For example, any physical damage, vandalism, fire, theft, or damage to tires and windshields would be covered up to the full vehicle value.

This coverage has a rental period limit of 48 days and covers damage or theft of a rental vehicle up to the Manufacturer’s Suggested Retail Price outlined in your Certificate of Insurance.

What types of vehicles are excluded from this coverage?

Vehicles excluded from coverage include: vans, cargo vans, trucks, pick-up trucks, off-road vehicles, motorcycles and any vehicle, in its model year, over the Manufacturer’s Suggested Retail Price outlined in your Certificate of Insurance. The vehicles listed here is not a complete list of excluded vehicles. Please refer to your Certificate of Insurance for the full list of exclusions.

All insurance coverage is subject to the terms and conditions of their respective master policies. Certain limitations, exclusions and restrictions apply. Please read your Certificate of Insurance carefully.

Need to make a claim?

Your CIBC card benefits give you access to toll-free assistance, 24/7, anywhere in the world and a worry-free claims service.

Be sure to check the Government of Canada’s Travel Advisory for advice and updates on your travel destination.

Get in touch

Travel Queries

Canada or the U.S:

Call us toll-free 1.866.363.3338

Anywhere else in the world:

Call collect + 905.403.3338

Other Queries

Canada or the U.S:

Call us toll-free 1.866.363.3338

Anywhere else in the world:

Call collect + 905.403.3338

Insurance coverage(s) included with CIBC credit cards are underwritten by Royal & Sun Alliance Insurance Company of Canada (RSA). Different cards will have different coverage(s). To learn about which coverage(s) are included with a specific card, and important information regarding coverage eligibility requirements, benefits, limitations and exclusions, see our Agreements and Insurance page and the insurance certificate(s) in your card package. Some insurance coverage(s) require purchase(s), auto rentals, common carrier fares and other trip costs to be charged to the card to activate coverage. Other conditions may also apply. Auto Rental Collision and Loss Damage Insurance (CLDI) is available for automobile rentals of up to 48 days for rental vehicles with a MSRP up to $65,000 (the CIBC Aerogold® Visa Infinite Privilege Card covers rental vehicles with a MSRP up to $85,000). The full cost of the rental must be charged to the card and the rental agency’s Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) must be declined. CLDI provides coverage up to the actual cash value (ACV) of the rental vehicle as defined in your insurance certificate. Note that some rental agencies may assess their damages at an amount greater than the ACV of the rental vehicle and you may be liable to them for the difference. Before declining the rental agency’s CDW or LDW, you should read carefully and compare the terms of the rental agreement, the CLDI insurance certificate in your card package and any other insurance you own to decide which coverage best meets your protection needs. For the CIBC Aventura Infinite Visa card, CIBC Aventura World MasterCard or CIBC Aventura World Elite MasterCard, Out-of-Province Emergency Travel Medical Insurance (TMI) covers the primary cardholder, their spouse and dependent children for the first 15 days of a trip if the insured person is age 64 or under, or for the first 3 days of a trip if the insured person is age 65 or older. Dependent children must be under 21 years of age or under 25 years of age if a full-time student, unless they have a permanent physical or mental impairment. TMI, Trip Cancellation and Trip Interruption Insurance may not cover certain pre-existing health/medical conditions. Certain RSA coverages are “excess insurance” (all other sources of insurance and recovery must be exhausted before coverage is available). For more information, call RSA toll-free at 1 866 363 3338 in Canada or the United States or collect from elsewhere at + 905 403 3338.