Loan Protection

Loan Protection pays the remaining loan balance on your financed or leased vehicle when your combined total loss settlements from your primary insurer and Drivesure do not satisfy the loan.  Loan Protection is available to be included on New Car Replacement and Better Car Replacement, and will pay up to 25% of the replacement value of the vehicle or $30,000, whichever is less.     

When you finance or lease a vehicle, there are additional costs included in the total loan amount. This could include negative equity from a traded-in vehicle, and non-refundable dealer fees and add-ons. These additional costs are typically not included under a vehicle replacement insurance policy. Additionally, at the beginning of your loan term, you pay more towards the interest than the principal balance, meaning your vehicle is depreciating faster than you are paying off your loan. Loan Protection helps minimize your financial impact when there is a remaining loan amount after the vehicle settlements from your primary insurer and Drivesure have been applied.