Does a credit card Collision Damage Waiver insurance apply for peer to peer car-sharing like Getaround and Turo
Getaround (my Review of the service) has recently changed its insurance policy. Instead of the full coverage for liability (damage you do to others) and a collision damage - this is the insurance policy.
Liability Coverage Renters are covered in our insurance policy up to the liability limits carried by the vehicle owner or with a combined single limit of three times the state minimum, whichever is greater. Car owners are covered up to a combined single limit of $1,000,000 for liability. Coverage includes personal liability for the renter, third-party liability for passengers and other affected parties, and third-party property damage arising from a car accident. Comprehensive and Collision Coverage The comprehensive and collision coverage provided protects the owner's vehicle in the event of an accident. This covers for theft, fire, vandalism, weather damage, and any damage to the vehicle in the event of an accident up to the actual cash value of the vehicle.However now a damage fee applies.
Damage Fee In the event of any loss or damage to the car, or any personal property or bodily injury claim, that occurs during the rental period due to any cause regardless of fault, including, but not limited to, collision, rollover, theft, vandalism, seizure, fire, flood, hail or other acts of nature or God, the renter is held responsible, and is required to pay Getaround a fee of $1000. For Exotic and Classic cars, a fee of $2500 applies. In the event a renter has violated Getaround's Terms of Service, the fee does not apply, and the renter may be held responsible for the full amount of the claim.Essentially Getaround is now using a deductible of $1,000 for standard cars and $2,500 for premium cars. Turo does something similar - here is the policy information.
“Premium” Package: The renter's out-of-pocket exposure is limited to payment of a deductible of $500. When damage is reported, the renter will be charged $500, and if the total costs (direct costs of damage, plus all “Related Costs”, as defined below) are less than $500, the renter will be refunded the difference. “Basic” Package: The renter's out-of-pocket exposure is limited to a payment of a deductible of $3000, under the same structure described in the Premium package. “Decline Coverage” Package: The renter's financial responsibility is essentially unlimited, and is bounded only by the actual cash value of the car, plus all Related Costs. This means that if the car is lost, stolen, or damaged so extensively that the expected cost of repairs exceeds 75% of the actual cash value, the renter is responsible to pay the entire actual cash value of the car, plus all Related Costs, minus any residual salvage value.But the question occurred to me - is your credit card collision damage waiver stepping in for a rental from a peer-to-peer device like Getaround or Turo? If so - they would cover the deductible, right?