VroomVroomVroom have partnered with Prosura to offer a tailored Rental Vehicle Excess (RVE) Insurance product to our Customers. The global insurance company, Pacific International, underwrites the RVE Insurance product provided by Prosura.
What is Car Hire Excess Insurance in Australia?
Vroom Vroom Vroom Pty Ltd ABN 19 050 417 037, AFS Representative Number 001280762, is an authorised representative of Pacific International Insurance Pty Limited ABN 83 169 311 193 AFSL No. 523921 ('Pacific'). This product is issued and managed by Prosura Pty Ltd ABN 59 638 142 720, AFS Representative Number 001279680, as agent for the insurer, Pacific. We do not provide any advice on this insurance based on any consideration of your objectives, financial situation or needs. Before making a decision please consider the Product Disclosure Statement and Financial Services Guide and the Target Market Determination. If you purchase a policy, we receive a commission which is a percentage of your premium - ask us for more details.
Just like any other travel insurance policy, this specialised Rental Vehicle Excess (RVE) Insurance product provides reimbursement for out of pocket expenses. Should an incident occur, the rental car company will charge your credit card (capped at your excess value) and you would then submit a claim to Prosura for assessment and reimbursement.
From $17.15 per day (plus local taxes surcharges) with $0 excess. Price depends on your trip duration.
Option 2: Purchase Excess Reduction or Collision Damage Waiver at the Rental Desk
You don't need to wait while the travel insurance company refunds the excess.
Purchase can be made at the same time that you collect your rental car.
Much more expensive than other options.
Excess Reduction, Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) is not actually insurance cover. It is a fee paid directly to the car rental company in exchange for them charging your credit card a reduced excess or nil excess in the event of an accident.
These products often exclude cover for damage to important items such as:
single vehicle accidents (SVAs).
$22 - $50 per day, depending on the supplier and car type (plus local taxes surcharges).
See excess reduction information for:
Option 3: Choose to do nothing
Car rental companies usually have blanket insurance policies that cover their entire fleet of vehicles. These policies cover any damage incurred to third party property and vehicles; above the excess amount they charge you the customer.
Choosing to reduce your risk by purchasing Rental Vehicle Excess Insurance or Collision Damage Waiver from an insurance company or car rental supplier is entirely your choice. It is not a legal requirement.
In the event of an accident (major or minor), suppliers will immediately charge your credit card a maximum damage excess fee of between $3,350 and $9,000 depending on the car type and the supplier.
You will have no further recourse other than to pay the full amount of the damage up the excess amount.
$0 per day but up to $8,250 in the event of an accident.