Amex Platinum Card: Maximizing Car Rental Insurance & Benefits

The Platinum Card^® from American Express is one of the premier cards on the market today. It’s known for its amazing perks, but it also carries a steep annual fee.

While the dollar figure may seem daunting, this card comes with a lot of benefits to offset the cost. In this post, we’ll focus on the perks related to renting a car.

The Amex Platinum card offers some very enticing benefits that you might want to take advantage of when renting a car, including car rental privileges with Avis, Hertz, and National and rental car insurance.

This post will dig into these benefits to explore what they cover, what they don’t, and how you can benefit from them.

Amex Platinum Card Snapshot

First, let’s take a quick look at the American Express Platinum card as a whole. This premium card comes with an equally premium price tag. And unlike typical credit cards, the card allows you to carry a balance for certain charges, but not all.

Make no mistake, it’s a pricey card — but if you can take advantage of all the perks the Amex Platinum card offers, it might earn a spot in your wallet.

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The Platinum Card^® from American Express

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The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

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The Platinum Card^® from American Express

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

Welcome Offer

Earn 80,000 Membership Rewards^® Points after you spend $8,000 on eligible purchases on the Card in your first 6 months of Card Membership.

80,000 points

UP's Bonus Valuation*:

$1,760

Annual Fee

$695

APR

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Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card^® from American Express.

Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

Pros & Cons

Pros

• The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges, Plaza Premium Lounges, and many more!
• 5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• 5x points per dollar spent on prepaid hotels booked with AmexTravel.com

Cons

• $695 annual fee (rates and fees)
• Airline credit does not cover airfare (only incidentals like checked bags)

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Card Highlights

• Earn 80,000 Membership Rewards^® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
• Earn 5X Membership Rewards^® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards^® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts^® or The Hotel Collection bookings through American Express Travel using your Platinum Card^®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card^® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• The American Express Global Lounge Collection^® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
• $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card^® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card^®.
• $200 Uber Cash: Platinum Card^® Members can get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card^® to your Uber account to get started. Available to Basic Card Member only. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• $199 CLEAR^® Plus Credit: CLEAR^® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck^® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card^®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card^®. That's up to $50 in statement credits semi-annually. Enrollment required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card^® to your Resy profile.
• $695 annual fee.¤
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

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American Express Membership Rewards

Other Key Benefits of the Amex Platinum Card

• Access to 1,400+ airport lounges, including Centurion Lounges and a Priority Pass Select membership (enrollment required)
• Hilton Honors Gold and Marriott Bonvoy Gold Elite hotel elite status (enrollment required)
• Access to The Hotel Collection and Fine Hotels & Resorts
• Car rental privileges
• Purchase protection and extended warranty
• Travel insurance and lost baggage insurance
• Entertainment and event perks
• A huge welcome bonus offer

Elite-Level Memberships (Avis, Hertz, and National)

As part of the benefits of holding the Amex Platinum card, you will receive complimentary elite-level memberships with Avis, Hertz, and National.

Once you enroll in any of these programs, you will enjoy special benefits and perks.

Avis

Avis offers discounts and upgrades to Amex Platinum cardmembers. These perks only apply to U.S. and Canadian residents who are renting at a participating Avis location in the U.S or Canada.

• Complimentary Avis Preferred Plus status
• Make your reservations using Avis Worldwide Discount AWD# C076700 for up to 25% off base rates (discount does not apply to taxes, fees, and surcharges)
• Use Coupon #UUNA007 when making a reservation to receive a complimentary 1-car class upgrade when available.

These perks are subject to blackout dates and can change at any time. Specialty cars (group X) are not eligible for these discounts.

Enroll in Avis Preferred Plus online or call 800-331-1212 to enroll.

Hertz

As an Amex Platinum cardmember, you will receive free enrollment in Hertz Gold Plus Rewards with complimentary President’s Circle status. You are also eligible to receive a 1-car class upgrade when you rent an intermediate through full-sized car (subject to availability) and pay with your Amex Platinum card.

Plus, you will receive a 4-hour grace period when returning your rental car, which often costs as much as an extra full day.

Use code CDP#211762 when enrolling in Hertz Gold Plus Rewards to ensure you receive your benefits (you can also call 800-525-3355 to enroll).

National

Amex Platinum cardholders also receive complimentary Emerald Club Executive membership from National.

Benefits include:

• Choose your own car from the Executive Selection area
• Upgrades when renting a full size through luxury car
• Accelerated earnings toward free rental days
• Speedy returns with an e-receipt

Enroll in National’s Emerald Club online or call 800-525-3355 to enroll.

Rental Car Loss and Damage Insurance

The first thing you should know about the car rental loss and damage insurance offered by the Amex Platinum card is how to remain eligible.

To be eligible for the coverage provided by American Express, you must:

1. Pay for the entire rental cost with your Amex Platinum card
2. Decline the collision damage waiver (CDW) offered by the rental company

Even then, there are exclusions. The coverage provided by the Amex Platinum card does not include any of the following:

• Antique cars
• Any residents of American Samoa, Federated States of Micronesia, Marshall Islands, Palau, and the U.S. Minor Outlying Islands
• Any ridesharing companies that allow individuals to rent out their personal cars
• Any situation in which illegal drugs and/or alcohol are involved
• Any situation where the rental car was taken out of the authorized rental area or off-road
• Any vehicles rented in Australia, Italy, and New Zealand
• Commercial mini-vans
• Customized vehicles
• Full-sized or cargo vans
• Limousines
• Off-road vehicles, motorcycles, campers, trailers, recreational vehicles

This coverage only applies to the first 30 days of a rental.

Bottom Line: To be eligible for car rental loss and damage insurance from the Amex Platinum card, you need to pay for the entire rental cost with your card and decline the collision damage waiver (CDW) offered by the rental company.

What Does the Plan Cover?

First, if the cardmember, authorized driver, or passenger is injured as a result of an accident that occurs in the rental car, the plan pays up to $5,000 for medically necessary treatment.

Additionally, if the cardmember, authorized driver, or passenger suffers accidental death or dismemberment as a direct result of an accident that occurs in the rental car, the plan pays up to $200,000 for the cardmember and $20,000 for an authorized driver or passenger with a per accident max of $300,000. The following exceptions apply:

• For residents of Utah and Vermont, this coverage is primary instead of secondary (see below for more on this)
• For residents of New Hampshire, there are reduced payouts and limits. Accidental death and dismemberment is limited to $20,000 for the cardmember and $2,000 for an authorized driver or passenger with a per accident cap at $50,000.

Any personal property that is damaged or stolen while secured in a rental vehicle is covered up to $1,000 per person and a total of $2,000 per accident.

For theft or damage to the rental vehicle, the Amex Platinum card covers up to $75,000.

Contact Information

If you have a question regarding your insurance policy or filing a claim, use the following contact information.

Phone:

Customer Service and Claims Department Toll-free: 800-338-1670
International Collect: 216-617-2500

Email: AMEXCRLDP@UFAC-CLAIMS.COM

Mail:

Car Rental Loss and Damage Insurance
P.O. Box 94729
Cleveland, OH 44101-4729

Car rental loss and damage insurance policies are underwritten by AMEX Assurance Company.

Bottom Line: The Amex Platinum card will cover you if your rental car is damaged or stolen. It does NOT cover liability, damage to other vehicles, or injuries to people in other vehicles. 

Primary vs. Secondary Coverage

The Amex Platinum card offers secondary coverage. This means that you need to file a claim with any other applicable insurance first before this coverage kicks in.

If you prefer primary coverage (meaning you don’t have to file a claim with your other insurance first), you could add Premium Car Rental Protection to your card for an additional $19.95 to $24.95 per rental period.

Alternatively, you could book your rental with the Chase Sapphire Preferred^® Card. It is one of the best credit cards for car rental insurance and only a $95 annual fee.

Bottom Line: The Amex Platinum card offers secondary coverage, which means you need to submit a claim with your other insurance first before you can submit a claim through American Express unless you have added the Premium Car Rental Protection.

How To File a Claim

If you believe you have a valid claim, you will need to submit supporting documents online via the American Express Claims Center.

Before you submit your claim, you will need the following documents and information:

• Car rental agreement/contract
• Personal insurance information
• Police report if you are reporting theft or accident information

  

Filing your claim should take about 15 to 20 minutes, but you can stop and come back to it by clicking the Save and Finish Later button. If you do this, you must finish your claim within 72 hours or all of your information will be deleted and you’ll have to start over.

It will take about 45 days to receive a final decision regarding your claim, however, it could be up to 90 days for international rentals.

If you have any questions about your claim, call 800-338-1670.

Final Thoughts

The Amex Platinum card offers many benefits, including car rental insurance and car rental privileges with Avis, Hertz, and National.

Rental car loss and damage insurance that comes with the Amex Platinum card is secondary, meaning it only covers what your primary insurance won’t cover unless you add Premium Car Rental Protection.

These perks are all included with the Amex Platinum card annual fee. For a comprehensive guide to all of the value you can get out of this card, check out these benefits of the Amex Platinum card.

For the car rental collision damage coverage benefit of The Platinum Card^® from American Express, car rental loss and damage insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car rental loss or damage coverage is offered through American Express Travel Related Services Company, Inc.

For the baggage insurance plan benefit of The Platinum Card^® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

For the extended warranty and purchase protection benefit of The Platinum Card^® from American Express, eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.