Prosura is a reimbursement insurance to cover the rental vehicle excess liability when hiring a rental car. It works similarly to travel insurance products.
What this means is that if you cause damage to the car, first of all the car rental company will charge your credit card the rental vehicle excess amount listed in your Rental Agreement (contract between the car rental company and the customer) while they assess the cost to repair the hire car.
Once the damage repair cost has been determined, the car rental company will refund the difference between your excess amount and the actual repair cost and will provide you with an invoice for the repair cost.
You would then lodge a claim with a copy of the vehicle damage report and repair cost invoice for assessment by Prosura Claims team.
Once all claim documents have been received, Prosura will assess your claim against the product terms and conditions (as outlined in Product Disclosure Statement), and provide the assessed reimbursement into your nominated bank account within 10 working days.
For example:
Jerry hired a Toyota Camry from ABC Rentals and his rental excess liability (as outlined in the rental agreement) was $5,200. Jerry had purchased an Allianz Australia $6,000 plan with nil excess. During his road trip, a large stone hit the rental car windscreen and caused a large crack in the glass. 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 windscreen.
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 lodge a claim with Prosura with the supporting documents from the car rental company for assessment and reimbursement. Prosura reviewed Jerry's claim and as windscreen damage is an inclusion of the 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. The circumstances of each claim vary and are assessed in accordance with the Product Disclosure Statement terms and conditions.