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Thread: Truck Insurance Summary and Amex Premium Coverage

  1. #1
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    Default Truck Insurance Summary and Amex Premium Coverage

    Each time we rent a pickup on Bonaire we read a lot of confusing information concerning insurance coverage. As we prepare for our 5th trip this January we have done quite a bit of research by reading on this forum as well as other sources, and by correspondence with rental companies on Bonaire. As we have not been able to find all of this information in one place or on one thread I thought I would try to list and summarize it here in case it would be of help to others.

    As I understand it there are 3 areas of coverage we should be concerned about:

    1) Liability coverage to cover damage to a 3rd party that is my fault
    2) Coverage for damage to the rental car if I get in an accident and it is my fault
    3) Coverage for damage to the rental car caused by theft or attempted theft, fire, act of God or a third party like vandalism.

    Are there any other categories I am missing that you are aware of?

    In addition here is my understanding of Standard CDW coverage:

    4) Standard CDW covers the rental car for damage that is my fault (less the deductible).
    5) Standard CDW does not cover liability; however, several sources have indicated that all licensed vehicles on Bonaire must already have liability coverage in order to be licensed, so I would have liability coverage with standard CDW or even with no CDW purchased.
    6) Standard CDW does not cover damage caused by theft or attempted theft, fire, act of God or a third party like vandalism.
    7) Many “full coverage” policies do cover all of the above, for a price.

    AMEX premium insurance:

    8) Does cover the rental car for damage that is my fault
    9) Does cover damage caused by theft or attempted theft, fire, act of God or a third party like vandalism.
    10) Does not cover liability damage to a 3rd party if it is my fault.

    If all these assumptions are correct, we would have sufficient coverage by using AMEX premium insurance, including liability. I do not, however, know what the coverage amount or deductible is for the liability required by the government which the rental companies already carry (perhaps someone else does?).

    Any additional information or corrections would be appreciated.

  2. #2
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    Thanks for the post, I was researching the same thing only to find that the car rental places I contacted do not take Amex. My Visa card offers the CDW insurance on cars and SUVs but not pickups. I recontacted the car rental places and they told me that they would not accept the insurance from Visa either. Their CDW insurance was mandatory.

  3. #3
    kob's Avatar
    kob is offline Bonaire Lover SUPPORTING MEMBER - Bonaire Talker
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    Poppy at Telerin accepts Amex.
    KOB
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  4. #4
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    From my contacts with companies on Bonaire I found that Telerin, Budget, Hertz and Avis do still accept American Express. Total and Voyager do not. Others I do not know about. We rented from Avis for this coming January for a good rate, CDW was not mandatory there.

  5. #5
    zgirlla is offline Bonaire Lover Bonaire Talker
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    Cool Rental car info

    I think you have this correct. I have done similar research. One thing for people to remember is AMX only covers you if you have signed up for the rental car insurance. It's only about $17 for and entire month and you only get charged that when you rent a car. It's not an on going monthly charge.

    The AMX car insurance coverage will only work if you pay for the rental car with your AMX. It covers CDW (Collision Damage Waver) and it covers all the items you mentioned except Liability.

    What I'm not clear on is if rental cars in Bonaire actually have Liability on them automatically, or if you need to buy liability insurance from the rental company. They don't seem to make any mention of the liability option on any rental car website. It's all very underhanded. I guess they are making money on the insurance not just the rental.

    If I find out about the Liability I will post it.

    One thing I can recommend to others is make sure that whoever you rent from takes AMX before you reserve... many do not take AMX.

    If you are getting a dive package at a resort or similar, with "drive and dive", you can ask to pay with AMX and decline the CDW insurance, even though they don't seem to make this public. I have done this before. I asked to pay the car on a separate bill and paid for it with paypal and used my AMX.. I'm not sure if this kicked in the insurance though and called AMX to check... I can't remember exactly how it all worked out since I never had to make a claim, so it's a good thing to call AMX and make sure it does cover if you use Paypal.


  6. #6
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    Default Liability

    Several other threads on this forum have indicated that liability coverage is mandatory on Bonaire in order to license any vehicle. In addition I have had this confirmed by a couple of other car companies on Bonaire via email when requesting quotes. Also, I read a site (I do not remember where right now) that was giving detailed residency information for people interested in living on Bonaire which has a section on automobiles and it also clearly stated that liability insurance was mandatory in order to get a license. It does seem like the rental companies would be doing us a better service by providing clear information on this issue seeing as everyone is confused.

  7. #7
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    You may deny the coverage. Amx is not a requirement. They probably make more money on the insurance than on the rental itself.

  8. #8
    wwguy's Avatar
    wwguy is offline Bonaire Lover SUPPORTING MEMBER - Bonaire Talker
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    Quote Originally Posted by thom View Post
    You may deny the coverage. Amx is not a requirement. They probably make more money on the insurance than on the rental itself.
    Please clarify your statement. It's not apparent which post(s) you're replying to. You may deny which coverage? More importantly, if you deny insurance coverage how are you insured against liability for personal injury and/or damage to the rental vehicle?

    As mentioned in previous posts, it appears that 3rd-party liability coverage is included in the rental fee as required by law. CDW is intended to cover damage to the rental vehicle. This may also be why some rental company's first actions are to take an imprint of your credit card.

    If you deny the rental company's 3rd-party CDW, and you're not covered by another policy, you're liable for any damage to the rental vehicle. You're favorite resort, Buddy Dive, is no exception. This is why some rental companies mandate CDW insurance. They know it's bad business for visitors to leave the island now and argue culpability later.

    As you mentioned, Amex coverage isn't a requirement. But it's a less expensive alternative to the rental company's CDW policy because it's subsidized by your credit card fees and those paid by Amex merchants. If you qualify for it, it's a good value. $24.95 covers your entire rental period up to 42 consecutive days. Coverage includes 0$ deductible and up to $100K in theft and/or damage coverage. Coverage is primary (meaning it supersedes coverage by other policies.)

  9. #9
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    Re: Driving naked (no additional insurance)

    Life is not without risk, something each of us divers understand. We manage risk, we control risk, and at times we insure ourselves to minimize losses associated with that risk.

    In the case of rental car add-on insurance, the cost of that add-on insurance is excessive compared to the value received, I believe. Just compare what you pay on your own car to what you pay on the rental.

    The add-on insurance covers damage to the rental, you could just pay for the repairs or replacement yourself if need be. It also covers deductible damage to others, you could pay the deductible yourself.

    I don't buy the add-on coverage. If I wreck one of Buddy's trucks, unlikely, I will cover the deductible to repair or replace it. If I damage another vehicle, I will cover what is necessary to repair or replace it.

    It is unfortunate that Visa and MC don't cover the little trucks of Bonaire but they don't. They cover cars for little to no additional money. That is because the risk of loss is quite small and any loss that does occur would likely be relatively small.

    I spent 35 years as a homebuilder. In essence, I was the insurance company. It was my job to manage the risk of the project. A significant part of my job was to insure that the buyer pay only the agreed upon price for the agreed work. If it cost more, that was my problem, not theirs. The same concept holds true for most small business owners.

  10. #10
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    This insurance thing. We never believed buying insurance was a good idea, too expensive for sure. But in 2011 Total convinced me insurance wasn't so bad and for the first time in 10 visits I bought the said insurance. Two days later someone stole our rental truck and went on a crime spree with it. I was very glad I had insurance, very glad indeed and have bought insurance every since.

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