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Royal bank visa car rental insurance

When you’re renting a car—whether it’s for business travel, a family vacation, or a weekend road trip—you don’t want to have to worry if you’re sufficiently protected in case of an accident. You just want to hit the road—and not have to spend too much time or money in the process.

While adding insurance to your car rental can seem like an extra step that’s keeping you from getting behind the wheel, the insurance choice you make before you drive away can have a significant impact on any claims costs down the road.

There are a few ways to get coverage on a rental car:

1. Purchase a “rental car rider” through your insurance provider.

By adding a “rental car rider” to your current policy, you may be able to transfer your car insurance coverage and claims services from your own vehicle to the rental car—often at a very reasonable price. When you insure a rental car this way, you may better understand what you’re covered for, and what type of service to expect.

Just keep in mind that when your “rental car rider” is being used, your car at home may not be insured and should stay parked.

2. Purchase coverage through the rental car agency.

Purchasing coverage through the rental car agency is convenient, but it may be expensive and could offer limited coverage with many restrictions. For example, it may not include protection from lawsuits, and claims service standards are typically basic. So if you choose this option, be sure you thoroughly understand the details of your coverage.

3. Use the coverage on your credit card.

You can also consider your credit card, as many credit cards provide some form of rental car insurance as long as you use the card to rent the car.

Again, you’ll want to know exactly what that insurance covers as it may have limitations and exclusions. It’s a good idea to call your credit card company and ask for the specific insurance details.

Whatever choice you make, it’s important to know exactly what your insurance covers, and understand all of your options—because nothing can ruin your day more than having to spend your own time and money on an unexpected event like a car accident.

Next Steps

  • Get a car insurance quote
  • Contact an RBC Insurance Advisor
  • Learn more about car insurance

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When determining the size of home you can afford, it's important to look at the long term horizon. The mortgage rate you pay today could be substantially different from the mortgage rates available when the time comes to renew your mortgage.

The calculation below shows how much of your mortgage principal will be left at the end of the term.

Mortgage Amount

  • Mortgage amount today $-
  • Less: Principal paid off over term $-
  • Mortgage remaining at end of term: $-

Using this amount, below we calculate the corresponding mortgage payments at a variety of interest rates:

Purchase Interest Rate Payment
Selected Scenario
Selected Rate $-
Average 5-year Fixed Rates (2000 - 2010) 3.89% $-
Average 5-year Fixed Rates (1990 - 2000) 7.23% $-
Average 5-year Fixed Rates (1980 - 1990) 11.92% $-

Below is a graph that displays the approximate values of competitive 5-year fixed mortgage rates since 2006.

5-year Fixed Mortgage Rates


Talk to an Advisor

Term, Term 100 & Universal Life:

  • Call 1-866-223-7113

Guaranteed Acceptance Life:

  • Call 1-877-879-0042

Personal Accident Insurance:

  • Call 1-877-404-7245

Disability, Critical Illness and Hospital Insurance:

  • Call 1-866-262-7920

All Life & Health Insurance:

  • Find an RBC Insurance Store or Advisor


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