Cheryl

My husband and I plan to rent a car during our stay on Grand Cayman. My car insurance agent confirmed that my car insurance in New York State does not cover collision damage for rentals outside the United States. My American Express account does offer this in Grand Cayman (up to $50,000). However, upon review of specific terms of car rental agency, if I waive the Collision Damage Waiver, the charge card "hold" applied to my charge card would be $1500, which I assume would be removed when I return the car with no damage. If I had an accident that may be another story ... I would need to file a claim with American Express ... not sure what happens to my $1500, or if rental company would charge me for the damages and I would have to get reimbursement through American Express. (I'm in process of finding this out.) <BR> <BR>My question is to folks that have rented cars on Grand Cayman - Did you opt for the Collision Damage Waiver (which would cost $13/day). Why or why not? Any recommendations one way or the other? <BR>

CJ

Hi Cheryl. When we got to Budget in GC, the clerks were calling the credit card companies for the customers to make sure they weren't buying insurance when their c/card already covered it. Ours did so we didn't buy it but there was no "hold" as you describe. Also, I wasn't as worried in GC because tourists aren't $$ targets in a rental like they are in poorer countries...or Florida for that matter. You may want to check w/ another GC rental agency to avoid a hold. Good luck. Others out there, please give your opinion as this is something I always wonder about when renting.

Cheryl

CJ: <BR>Thank you for your input. Avis was rental company that would put a $1500 charge card hold for customers who decline the Collision Damage Waiver (CDW)per their policy posted on the web. I've inquired with Budget, and they take a $500 authorization on the credit card when you pick up the car which serves primarily to guarantee payment. (It is not targeted just for customers who decline the CDW.) Budget's policy specifies that the CDW coverage is optional ONLY if a credit card with rental car protection is used. <BR> <BR>It will be interesting to hear other travelers opinions on this.

Jody

I have been told that if you have an accident while in Cayman, you stay on the island until it is settled. This will most likely not get done overnight. Since I want to avoid any hassle and the possibility of an extended stay of days or longer, I take the insurance. To me, its worth the $13 a day - it sure beats hotel and food for an unplanned extra week or more. Just my opinion.

CJ

Jody, I'm glad you told us that. I didn't know and GC is one of our favorite destinations. We witnessed a minor accident this summer & they called out everyone but the SWAT team...live news coverage and all. I was thinking as we sat there, in our car w/ the declined coverage, that I would hate to be thousands in the hole for a minor $$$ amount in insurance. Cheryl, take the insurance.

Cheryl

A representative from American Express told me that if I were involved in an accident, I would be covered for any damages, and that all I would be responsible for was filing a claims with them right away. However, I am a bit concerned with what I am hearing on these other posts. Does anyone have any specific experience or is it hearsay?