American Express Membership Rewards - Preferred Green Card.....Too good to be true?

I notice if you apply for the preferred Green card you get
1. double points
2. Do not have to pay insurance for car rentals.
3. I think a better selection of things to choose from costing fewer points.

am I correct in my assumptions?

Is the Car insurance thing too good to be true?? Most car insurance placed charge 26-32 dollars a day for their insurance. I don't have alot of insurance on the automobile I own(its an old clunker) so the car insurance thing would be a great deal wouldn't it?

There has to be something I am missing. Point me in the right direction.

True it is, sort of. Card covers your insurance for the first 30 days of the rental. All you have to do is charge the rental to your card.

The kicker is that the AMEX insurance is in EXCESS to your regular car insurance. I suppose if your car insurance doesn't offer rental coverage, AMEX would take the hit. Otherwise, AMEX will pick up what your car insurance doesn't cover.

In case you wanted to see the specifics on the AMEX rental insurance policies for cards..

https://www.ufac-claims.com/amexcm/aspx/aebenefits.aspx