University of Colorado employees renting vehicles for official business, in most cases, are required to: rent the vehicle from a state approved vehicle rental agency – State of Colorado Auto Rental Policy  procure the rental vehicle by using the CU issued US Bank Visa - Visa Auto Rental Collision Damage Waiver Benefit 
With the use of the above, you will be able to decline the rental agency collision damage and loss damage waiver.
In certain countries insurance coverage under the US Bank Visa is not valid. Please contact Visa at 1-800-VISA-911 to verify insurance coverage and exclusions.
*Note that some countries, such as Mexico, may legally require the purchase of additional insurance coverage. This expense is eligible for reimbursement.
If you have any questions regarding procurement, contact the Procurement Service Center at 303-837-2161. PSC Travel Policies and Procedures