I am sure this has been discussed here, but I am not sure how to find it.

I have a credit card with primary LDW outside the US, no deductible. If I pay for the minimum level of coverage from the renter (Europcar), which comes with a high deductible (~$1400) and does not cover wheels/tires/lights, is that a Catch-22? What I mean is, would it actually cost me more money if there are any losses, since I haven't followed the CC requirement to decline rental company's coverage?