Prosura RVE Insurance is reimbursement insurance.
If the car is damaged during your rental the car rental company will usually charge your credit card the excess amount specified in your rental agreement while they assess the cost to repair the hire car.
Once the damage cost has been estimated by the Rental Provider and if this estimate is less than the excess amount, they may reduce the charge on your credit card to the estimated repair cost. For example, if the Rental Agreement Excess Amount is $4,000,
● the Rental Provider may first put on a hold on your credit card for $4,000
● if the Rental Provider then estimates a repair cost of $1,000, the Rental Provider may release $3,000 from the hold on your credit card.
Once the damage repair cost has been determined, the car rental company will generally refund or charge the difference between your excess amount and the actual repair cost and will provide you with an invoice for the repair cost.
To make a claim you must complete the online claims process at www.prosura.com/claim and upload the relevant supporting documents.
Once all claim documents have been received, your claim will be assessed against the product terms and conditions as detailed in Product Disclosure Statement), and eligible reimbursement will be made to your nominated bank account within 10 business days.
Jerry hired a Toyota Camry from Car Rentals and his rental excess liability (as outlined in the rental agreement) was $5,200. Jerry had purchased a Prosura RVE Insurance policy. During his road trip, a large stone hit the rental car door and caused a scratch in the bodywork and a crack in the windscreen. Upon returning the car to the car rental company, Jerry's credit card was charged $5,200 (his total rental excess amount) while ABC Car Rentals assessed the cost to repair the bodywork.
Two days later the car rental company had assessed the damage repair cost to be $1,200 so they refunded Jerry's credit card the difference between his excess and the damage repair cost ($4,000) and Jerry was left with an out of pocket expense of $1,200. The car rental company provided Jerry with a copy of the damage repair cost invoice and a copy of the car damage report.
Jerry then completed a claim form and lodged it with the supporting documents from the car rental company via www.prosura.com/claim for assessment and reimbursement. Prosura reviewed Jerry's claim and as windscreen damage is an inclusion of the Prosura RVE Insurance product, he was able to obtain full reimbursement of the $1,200 under his insurance policy.
Note, examples are provided for illustrative purposes only. Claims are assessed in accordance with the Product Disclosure Statement. Please consider your own personal circumstances including the terms of your rental agreement.