Leased Vehicle Protection
Leased Vehicle Protection covers your down payment and any trade-in allowance on the vehicle you’ve leased for up to two years, if it’s written off. Leased Vehicle Protection is available for new and late-model leases.
There are some time limits on buying Leased Vehicle Protection. For brand new vehicles, you have 60 days from when you first insure your new vehicle to buy Leased Vehicle Protection. For newer used vehicles, you have 60 days from when your lease starts.
Ask an Autopac agent for more details.
- After two years can I renew my Leased Vehicle Protection coverage?
Leased Vehicle Protection is a 12- or 24-month policy meant to insure your initial investment in a leased vehicle. After the term expires, you cannot buy it again unless you lease another new vehicle.
- Does my leased vehicle qualify?
Most privately leased, new and late-model cars, SUVs, light trucks, motorcycles, mopeds and motorhomes qualify. The vehicle must be either brand new or, if used, no older than one model year old. For example, if the newest models currently on the market are 2017, new and used 2017 and 2016 models would qualify.
- Does Leased Vehicle Protection for motorcycles have the same coverage as Leased Vehicle Protection on passenger vehicles?
There are some differences. Coverage depends on what kind of Autopac coverage you have on your motorcycle. Basic Autopac coverage for passenger vehicles includes all-perils coverage, but Basic Autopac for motorcycles and mopeds is limited to collision and upset protection.
If your motorcycle is insured with Basic Autopac only, your Leased Vehicle Protection will cover your down payment and any trade-in allowance if your motorcycle is written off in a collision or by upset. If your motorcycle is insured with Basic Autopac and comprehensive motorcycle coverage, your Leased Vehicle Protection will cover your down payment and any trade-in allowance if your motorcycle is written off in the event of a collision, upset, or other loss resulting from a peril covered by your comprehensive insurance.
Leased Vehicle Protection is not a replacement for comprehensive coverage. Contact an Autopac agent to ensure your motorcycle qualifies for full coverage.