Currently American Express offers premium car rental insurance that costs $19.95/$24.95 per car rental period (up to 42 days). American Express is considering changing this to an annual option that would cost $50 annually. American Express has sent out a survey asking cardholders to rate how they feel about this change.
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It'll just push me to Chase. I use it maybe once per year.
I use this about 2X a year so I’m neutral but $50 is a great deal for power users.
Hope Platinum is excluded for this.....we're already paying the high annual fee
ew
Keep it per rental. I only use it when there is an amex offer canceling out the charge, otherwise its the CSP.
They already have huge fees for very questionable percs and they still cant find a way to bundle this in.
Umm already get primary coverage with my C1 venture X card (I'm blacklisted by chase for their cards due to widespread churning/manufactured spending in the past)
If they were smart, they'd give you the option of either or.
Consumers who don't reliably rent enough and want to be cautious would still pay for per use, which easily means at 2 rentals they would have paid roughly the same amount as the annual anyway and then if they go to 3+ rentals on a per use payment when they didn't expect to, they pay way more than the annual rate. Amex wins.
For consumers who know they need 3+ a year, they choose the annual rate and Amex already would offer it because they know it's a win for them because those customers probably avoid Amex premium currently with the per rental charge and the true cost of insurance is minimal and getting them in at the annual rate is a gain to Amex. Amex wins.
For consumers who think they'd use it more than they end up using but think they might use it more, they pay for the annual and use it once, and over pay. Amex wins.
sir, this is a wendy's.
I feel like I'll stick to Chase.
I don't think I will rent consistently more than twice a year so I will not use it and use Chase instead.