The American Express Velocity Platinum Card Insurance does not have a benefit for Loss Damage Waiver Cover.

[Warks]

I've been using my Velocity Amex Platinum card for a decade or more to pay for airfares, hotels and car rental. I've never taken additional excess insurance due to the fact that I assumed the card covered me. Well I've discovered that it doesn't cover it, at all, according to them.
Driving a car in Europe last month and I managed to scrape a wheel on a kerb. It wasn't anything major but the car was relatively new and was a Merc so had expensive wheels. At the time I thought it could be the full 1200 euro excess. I got the claim a week or so later (didn't report it at drop-off as it was unattended) and it came (surprisingly) to about 300 euros. I lodged my claim with Amex, which uses Chubb, paid the rental car company by the due date and waited.
A couple of weeks later I get the email dismissing my claim, after being assured by many people that Amex are really good and almost always pay out.

This was the wording:
"After careful review of the information provided to us, we regret to advise that
your policy is unable to respond to this claim under the American Express
Velocity Platinum Card. Whilst we sympathise with your situation, the American
Express Velocity Platinum Card Insurance does not have a benefit for Loss
Damage Waiver Cover, which would be required for this type of claim.
Please be advised we have also reviewed your claim under Section G – Personal
Liability Cover, however, the policy carries an exclusion for any cost arising from
or relating to mechanically propelled vehicles, and as such the policy is unable to
respond."

It's not a million dollars I'm out but this is rather irritating as it seems they talk a big game regarding insurance but in the end offer zero. I regularly rent vehicles in Australia and it seems I've been living in a fool's paradise all these years. Do I need to take out a domestic travel insurance policy?

 

[Happy Dude]

Mrs Happy Dude has this card and we're aware it doesn't have rental car excess cover.

I keep the Explorer card pretty much exclusively for that purpose/benefit, however there are a few noteworthy limitations including 30 day hire max, campers excluded, and a $100k car value. Need to be judicious in accepting upgrades that come with status for example.

 

[Warks]

Mrs Happy Dude has this card and we're aware it doesn't have rental car excess cover.

I keep the Explorer card pretty much exclusively for that purpose/benefit, however there are a few noteworthy limitations including 30 day hire max, campers excluded, and a $100k car value. Need to be judicious in accepting upgrades that come with status for example.

Would have been nice to know a decade ago. The T&C don't even mention loss damage waiver anywhere. Not even as an exclusion. I've literally hired hundreds of vehicles over the years and this is the first time I've ever had the slightest mishap. (well apart from a stone chip in NZ which I got fixed for $70 instead of being reamed for $300).

They certainly don't go out of their way to publicise this.
I'm going to have to get a domestic travel insurance policy just to cover this I guess and I'd better make sure they do.

 

[Jacques Vert]

I've been using my Velocity Amex Platinum card for a decade or more to pay for airfares, hotels and car rental. I've never taken additional excess insurance due to the fact that I assumed the card covered me. Well I've discovered that it doesn't cover it, at all, according to them.
Driving a car in Europe last month and I managed to scrape a wheel on a kerb. It wasn't anything major but the car was relatively new and was a Merc so had expensive wheels. At the time I thought it could be the full 1200 euro excess. I got the claim a week or so later (didn't report it at drop-off as it was unattended) and it came (surprisingly) to about 300 euros. I lodged my claim with Amex, which uses Chubb, paid the rental car company by the due date and waited.
A couple of weeks later I get the email dismissing my claim, after being assured by many people that Amex are really good and almost always pay out.

This was the wording:
"After careful review of the information provided to us, we regret to advise that
your policy is unable to respond to this claim under the American Express
Velocity Platinum Card. Whilst we sympathise with your situation, the American
Express Velocity Platinum Card Insurance does not have a benefit for Loss
Damage Waiver Cover, which would be required for this type of claim.
Please be advised we have also reviewed your claim under Section G – Personal
Liability Cover, however, the policy carries an exclusion for any cost arising from
or relating to mechanically propelled vehicles, and as such the policy is unable to
respond."

It's not a million dollars I'm out but this is rather irritating as it seems they talk a big game regarding insurance but in the end offer zero. I regularly rent vehicles in Australia and it seems I've been living in a fool's paradise all these years. Do I need to take out a domestic travel insurance policy?

Need to read the T & C's. Lots of Travel Insurance policies (both CC and paid) exclude tyres, windscreens, etc. I once found a policy that excluded damage to the roof if driving a campervan or motorhome.

It's a pain reading through 100's of pages in the product description but necessary in my opinion.

 

[Scarlett]

You can get specific rental car excess insurance, which IIRC, was cheaper than a standard travel insurance policy.
I have had one, maybe two, worldwide policies in my time and I’m pretty certain it covered home country as well. I think it was through a UK company and paid in GBP.

Let me see if I’ve still got the emails somewhere with name and cost.

- I had one when living in the UK called Car Hire Excess Cover Insurance through Mondial, but over 10 years ago.

- In 2023 I used Worldwide (worldwideinsure.com) for an Annual Deluxe policy covering world wide rentals (including home country) for self and spouse. GBP125 cost, covering up to GBP50K excess. The deluxe policy covered pretty much everything (glass, tyres, keys).

 

[Happy Dude]

I'm going to have to get a domestic travel insurance policy just to cover this I guess and I'd better make sure they do.

You could also look at other credit cards that include it? OTTOMH I think the ANZ Traveller Cards might have it, amongst others.

 

[Brissy1]

hired hundreds of vehicles over the years

for €300 total accident and excess payment. Well done.

 

[Doctore1003]

Wait, are you saying you’ve hired 100s of cars and assumed you had excess cover, but never actually checked the policy??

 

[andyrb]

I assumed the card covered me

So.. you just assumed the card provided the cover, but never actually bothered to check?

It's not a million dollars I'm out but this is rather irritating as it seems they talk a big game regarding insurance but in the end offer zero.

Your card doesn't offer rental car damage cover. That's why your claim was denied.

<redacted>

 

[Warks]

Yeah that's just plain rude. AFF isn't like this, or it never was. I've been on here over 20 years and I have never had anyone go at me like that.

Anyway, you do you.

 

[andyrb]

Yeah that's just plain rude.

<redacted>

You made a mistake by assuming you were covered. Fine, we all do it. Rather than just learn from the experience and move on, you post online and make out you've been hard done by and Amex/Chubb/whoever are the bad guys for denying your claim - despite not even being covered for the event in the first place.

<redacted>

 

[burneracc]

<redacted>

You made a mistake by assuming you were covered. Fine, we all do it. Rather than just learn from the experience and move on, you post online and make out you've been hard done by and Amex/Chubb/whoever are the bad guys for denying your claim - despite not even being covered for the event in the first place.

<redacted>

Warks isn’t wrong though - there’s no harm in being nice. Your post history on here is a pattern of being overwhelmingly negative. Why double down?

 

[kevrosmith]

Did anyone see the Aussie Lamb ad this year? How appropriate.

Anyway… helpful thread as it highlights and informs others to perhaps ensure they read the T&Cs. Also helps to draw attention to specific circumstances which others may not have considered themselves. And sure… we all like someone to listen to our gripes & frustrations in life sometimes.

I’ve gotten much better at reading the T&Cs for lots of my insurance policies & even end up with large Word documents comparing PDSes from various quotes. It’s amazing to see them side by side and how much they vary.

“Everyone calm down.. it’s fake…” (Quote from Aussie Lamb ad…)