And this is why I do NOT valet. EVER.
I have actually opted out of using certain hotels due to a "valet only" policy.
So you say you are traveling with a rental car. Your Chase Sapphire Preferred Card provides primary coverage for the car in the event of loss or theft. Hmm. What if you released the keys to a valet and let a valet drive the car. Is that valet on your rental car agreement or did you just violate the terms of your rental agreement by letting a valet who is not on your rental car agreement drive the car? Does it matter somehow if the valet drives it only in a driveway/garage vs. if the valet actually goes out onto a public street and around the block to a garage entrance?
What does your Chase Sapphire Preferred primary rental car coverage say about if you violate the terms of the rental car agreement? It says you aren't covered.
How do you get your stolen car covered by CSP? You have to go file a police report. How do you avoid mentioning that you released the car to a valet in the police report?
All honest questions... that I do not know the answer to. Easier to just not valet.