Wednesday, December 16, 2009

Caveat fail!

I was renting a car for some christmas travel when I learnt that my new Visa credit card obtained through bank of america covers collision damage waiver, that is, if you hit some vehicle with the rental car, it covers all the cost of damage to the rental car. I was reading through the fine print of 'what is not covered' on the Visa website to make sure I didn't leave any loopholes that they might later exploit in order to not pay the damage costs. That is when I noticed there was one cleverly inserted caveat in the terms and conditions which was sure to heavily tilt the odds in favour of their not having to cover the costs. Please see that caveat in image below:

4 comments:

Destiny's child... said...

I am not surprised...Perhaps this is one of the reasons why they say 'mutual fund investments sdnsdbmsnjxbcvnxcb.....blah blah..' at neck break speed!

Karthik Sivaramakrishnan said...

Yes, for instance, for pharmaceutical ads in the US the law mandates that the adds declare all possible side-effects (mostly in order to avoid litigation charges) and often you'll hear them say side-effects include, headache, nausea, cramps, and death! :|

kochuthresiamma p .j said...

remeber the statutary warnings in mutual funds ads on TV? they talk so rapidly no one cares to listed,.
these are marketing techniques which are deceptive (headache to death!)
someone should move courts to ensure that caveats are made more lucid and specific AND PROMINENT.

Karthik Sivaramakrishnan said...

@KPJ: Yup, "mutual funds are subject to market risk, please read the offer documents carefully before investing". Have a good year ahead!