Many premium credit cards come with the benefit of rental car insurance. Understanding credit card rental car insurance can give you peace of mind and save you money the next time you hit the road. Let’s dive into the best credit cards in Canada with this type of coverage.
Best credit cards for rental car coverage
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Gold: Best for car rental insurance
BMO CashBack World Elite MasterCard
Covers rentals with an MSRP up to $65,000 for up to 48 days. Plus, get discounts on car rentals, free roadside assistance and fuel savings at Shell.
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Interest Rates:
21.99% purchase, 23.99% cash advance, 23.99% balance transfer
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Silver: Best for car rental insurance
TD Cash Back Visa Infinite Card
Covers rentals with an MSRP up to $65,000 for up to 48 days. Get discounts on car rentals and free roadside assistance.
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Interest Rates:
20.99% purchase, 22.99% cash advance, 22.99% balance transfer
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Bronze: Best for car rental insurance
Scotiabank Gold American Express Card
Covers rentals with an MSRP up to $65,000 for up to 48 days. Plus, get discounts on car rentals.
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Interest Rates:
20.99% purchase, 22.99% cash advance, 22.99% balance transfer
Welcome offer:
$450 value
Earn up to $$780 in value in the first 12 months, including up to 40,000 bonus Scene+ points. To qualify, apply by July 1, 2025
Credit cards that provide rental car insurance
Compare several credit card options with this benefit, or keep scrolling for our editors’ top picks. Can’t see all the details on your screen? Simply slide the columns using your fingers or trackpad, or you can hover your mouse over the table to access the scroll bar at the bottom.
| Annual fee | Rewards earn rate | Rental car theft and damage coverage | Rental car accident amount | Rental car coverage period | Rental car discount | Includes free roadside assistance | Discount on gas purchases | Recommended income | Recommended credit score | Apply now (featured cards only) | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BMO CashBack World Elite Mastercard
|
$120 | Up to 5% cash back | MSRP up to $65,000 | MSRP up to $65,000 | 48 days | Up to 20% at National and Alamo locations | Yes | Up to 7 cents off per litre at Shell | $80,000 (personal) or $150,000 (household) | 760 or higher | Go to site |
| TD Cash Back Visa Infinite Card
|
$139 | Up to 3% cash back | MSRP up to $65,000 | MSRP up to $65,000 | 48 days | Minimum of 10% off at Avis and Budget locations in Canada and the U.S. | Yes | n/a | $60,000 (personal) or $100,000 (household) | 680 or higher | Go to site |
| Scotia Gold American Express Card
|
$120 | Up to 6 Scene+ points per $1 spent | MSRP up to $65,000 | MSRP up to $65,000 | 48 days | Up to 25% off base rates at Avis and Budget locations in Canada and the U.S. | No | n/a | $12,000 | 725 or higher | Go to site |
| American Express Cobalt Card
|
$156 | Up to 5 Membership Rewards points per $1 spent | MSRP up to $85,000 | MSRP up to $85,000 | 48 days | n/a | No | n/a | n/a | 725 or higher | Go to site |
| Scotia Platinum American Express Card
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$399 | Up to 2 Scene+ points per $1 spent | MSRP up to $65,000 | MSRP up to $65,000 | 48 days | n/a | No | n/a | $12,000 | 760 or higher | Go to site |
| Scotiabank Passport Visa Infinite Card
|
$150 | Up to 3 Scene+ points per $1 spent | MSRP up to $65,000 | MSRP up to $65,000 | 48 days | Complimentary car upgrades, 5% to 25% discount at Avis locations in Canada and U.S. | No | n/a | $60,000 (personal) or $100,000 (household) | 725 or higher | Go to site |
MoneySense award winners
Dive into the pros and cons of our Gold, Silver and Bronze winners, and find out why they are the best for auto rental insurance.
Gold: BMO CashBack World Elite Mastercard
At a glance: The BMO CashBack World Elite Mastercard is the best card for rental car insurance in Canada. With this card, rentals with a manufacturer’s suggested retail price (MSRP) of up to $65,000 are covered for up to 48 days in the case of an accident, damage or theft. Plus, you get complimentary access to roadside assistance through a free Dominion Automobile Association (DAA) membership and fuel savings at Shell gas stations.
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BMO CashBack World Elite Mastercard
Annual fee: $120 (waived first year)
Welcome offer: Earn up to 10% cash back during your first 3 months on up to $2,600 in purchases.
Card details
| Interest rates | 21.99% on purchases, 23.99% on cash advances, 23.99% on balance transfers (21.99% in Quebec) |
| Income required | Personal income of $80,000 or household income of $150,000 |
| Credit score | 760 or higher |
Pros
- Roadside assistance: Includes four free service calls per year, including towing (up to 10 km), tire changes, winching, battery boosts, lockout assistance, emergency fuel delivery and more.
- Fuel savings: Save up to 7 cents per litre at Shell locations.
- Insurance: Extensive insurance for a cash back card, including coverage for travel medical, rental cars, baggage, flight delays and more.
- High earn rates: Earn up to 5% back in four major spending categories.
Cons
- Earning caps: The bonus categories have low monthly spending limits, ranging from $300 to $500, which is restrictive for a premium card. Purchases above these monthly limits earn at the 1% base rate.
- High income requirements: This card may be less accessible.
Silver: TD Cash Back Visa Infinite
At a glance: This card offers rental car insurance for vehicles valued up to $65,000 MSRP for 48 consecutive days. Plus, cardholders earn 3% cash back on gas, groceries and recurring bill payments. This is one of the only other cards in Canada to offer free deluxe roadside assistance, covering things like towing, battery assistance, fuel delivery and more.
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TD Cash Back Visa Infinite Card
Annual fee: $139 (rebated first year)
Welcome offer: Earn up to $600 in value, including 10% cash back on eligible purchases during the first three months (on up to $3,500 in purchases). Conditions apply.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 680 or higher (recommended) |
Bronze: Scotiabank Gold American Express
At a glance: The Scotiabank Gold American Express provides rental car insurance for vehicles valued up to $65,000 MSRP for 48 consecutive days. With a $120 annual fee, you earn 6 Scene+ points per $1 spent at Sobeys-owned grocery stores (including Safeway, FreshCo and Foodland); 5 points on groceries at other grocery stores and on restaurants and entertainment; 3 points on gas, daily transit and streaming services; and 1 point on all other purchases. It’s also one of the rare Canadian credit cards that doesn’t charge a foreign transaction fee on foreign currency purchases.
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Scotiabank Gold American Express
Annual fee: $120
Welcome offer: Earn up to $780 in value in the first 12 months, including up to 40,000 bonus Scene+ points. Offer ends July 1, 2025.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | $12,000 per year |
| Credit score | 725 or higher |
| Point value | 1 Scene+ point = $0.01 when redeemed for travel, store purchases and food and drink at Cineplex and Scene partners |
Runner up: American Express Cobalt
At a glance: The American Express Cobalt offers comprehensive insurance for rental cars with an MSRP of up to $85,000 for up to 48 consecutive days. For an annual fee of $156, this card gives you 5 points per $1 on dining and groceries; 3 points on streaming subscriptions; 2 points on gas, transit and ride shares; and 1 point on all other purchases.
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American Express Cobalt
Annual fee: $156
Welcome offer: Earn 1,250 points for each month you spend $750, up to a maximum of 15,000 points.
Card details
| Interest rates | 21.99% on purchases, 21.99% on cash advances |
| Income required | None specified |
| Credit score | 725 or higher |
| Point value | 1 Amex Membership Rewards point = $0.01 when redeemed with the Flexible Points Travel Program, $0.015 on average with the Fixed Points Travel Program, and up to $0.02 with airline points transfers |
What is credit card car rental insurance?
Credit card insurance coverage for rental cars typically includes a collision damage waiver (CDW) and a loss damage waiver (LDW), which protects you from financial liability if your rental car is damaged or stolen. It typically only comes into effect when a rental is fully charged to your credit card, and you must generally decline the rental car agency’s collision damage waiver (CDW) benefits. If there is no clearly marked area on the contract asking you to decline coverage, some credit cards insist that you write on the agreement yourself: “I decline the CDW provided by the rental agency.”
Some forms of damage may not be covered, so it’s wise to read the fine details of the credit card’s insurance contract before you apply.
What does credit card rental car insurance cover?
Credit card rental car insurance typically covers:
- Damage to the rental vehicle due to a collision or an accident
- Theft of the rental vehicle
- Loss-of-use charges, meaning the cost of alternate transportation while your vehicle undergoes repairs
- Towing charges related to a covered loss
The following are common exclusions. Credit card issuers may have different exclusions, so always read your insurance agreement carefully.
- Liability for damage to other vehicles or property
- Personal belongings stolen from the rental car
- Exotic or luxury cars exceeding the coverage limit. (Note that vehicles like moving vans, motorcycles and pick-up trucks are types of transportation often excluded from coverage.)
- Rentals in some countries
- Rentals exceeding the maximum coverage period
Does roadside assistance apply to rental cars?
Some roadside assistance programs offer coverage extending to rental cars, since the coverage is linked to the cardholder rather than a specific vehicle. As long as the rental you’re driving is plated and registered, you may be covered under some programs. However, it’s essential to dive into the fine print of your card’s program or call customer service for more information, since coverage can differ. This ensures you understand any limitations or conditions and confirms you’re fully protected when you need help on the road.
