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When it comes to reducing your rental car insurance excess, you have a few options to consider. Read on to find out more.
This information is for customers collecting a car hire in New Zealand. For information about car rental insurance in other countries, see the following links: Australia, Canada, United Kingdom, United States.
VroomVroomVroom have partnered with Prosura, as agent of the insurer, to offer a Rental Vehicle Excess Insurance product to our customers.
Prosua Rental Vehicle Excess Insurance is underwritten by Pacific International Insurance Pty Ltd NZBN9429041356500, FSP394846. You should consider the Policy Wording before making any decisions about this insurance policy.
We do not provide financial advice and do not make any recommendations or representations about the superiority or suitability of this product. You should consider obtaining independent advice before making any financial decisions. We will receive a commission if you choose to purchase a policy via this website.
Visit prosura.com to learn more.
Reimbursement cover for:
Exclusions and eligibility terms and conditions apply. Make sure to read the Product Disclosure Statement carefully for full terms, conditions and exclusions.
Just like any other travel insurance policy, this specialised Rental Vehicle Excess (RVE) Travel 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 $17.13 per day (plus local taxes surcharges) with $0 excess.
You don't need to wait while the travel insurance company refunds the excess.
Much more expensive than third party rental vehicle insurance options.
Excess Reduction, Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) is not regulated 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 limit cover to damage to the car’s bodywork. They may exclude cover for damage to expensive items such as:
Compare the features, limits, inclusions, exclusions and other terms and conditions of a car rental company’s waiver product before you make a decision whether or not to purchase.
$27 - $60 per day, depending on the supplier and car type (plus local taxes surcharges).
Car rental companies usually have blanket insurance policies that cover their entire fleet of vehicles. These policies usually cover any damage incurred to third party property and vehicles; above the excess amount they charge you the customer. Please check with the rental company for details on their insurance policies.
Choosing to reduce your risk by purchasing Rental Vehicle Excess Insurance or Collision Damage Waiver from an insurance company or car rental company is entirely your choice. It is not a legal requirement.
In the event of an accident (major or minor), the car rental company will 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.
You may be liable for other charges in addition to the excess fees where these are not included in the car rental company’s basic insurance or excess fee cap.
$0 per day
