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Depreciation Protection

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Depreciation protection covers the depreciation of the vehicle. It is a debt cancellation product that in the event of a total loss, provides you a benefit equal to the difference between J.D. Power Retail value of the vehicle at the time of coverage enrollment and the loan balance at the time of the total loss. The waiver benefit will not exceed the maximum benefit selected or the outstanding loan balance, whichever is less.

Depreciation Protection is ideal for those who:

  • Have equity in the vehicle due to
    • A trade in
    • Money down
    • Dealer rebates
  • Make accelerated loan payments
  • Desire protection from vehicle depreciation


  • Coverage can be purchased at anytime
  • 60-day free look period
  • No mileage or year restrictions
  • Life of loan protection
  • Accidental Death protection included

Here's how it works

Purchase at Dealership 6-Months 1-Year 3-Years 5-Years
Price of Vehicle (MSRP/RETAIL) $30,000 $30,000 $30,000 $30,000 $30,000
Outstanding Loan Balance $28,500 $26,681 $24,469 $15,282 $5,530
Depreciation Protection Waiver Benefit at Total Loss: $1,500 $3,319 $5,531 $10,000* $5,530

*$10,000 Waiver Benefits applies here because waiver amount will not exceed the lesser of the maximum amount listed in the waiver addendum. Maximum Waiver Benefit can vary depending on level of protection selected and or offered. Please reference the waiver addendum for specifics regarding maximum waiver amounts

Loan amortization used in this example is for a loan at 2.99% APR for 72-months

Frequently Asked Questions

  • When can I purchase DP?

    At any time during the life of the loan.

  • What if I want to cancel the DP after the 60 days?

    The protection is nonrefundable after 60 days.

  • If I have DP, could I refinance my vehicle?

    Modifying or refinancing a loan with the DP coverage will terminate the protection, but you can repurchase the DP should you need to refinance your loan and wish to be protected again.

  • How long do I have to report a claim?

    Claims must be reported within 60 days of the primary insurance declaring the vehicle a total loss or within 180 days of the accidental death protected event.

  • Are there any exclusions with the DP?

    • Cars or Trucks valued over $100,000 (MSRP/J.D. Power Retail value)
    • Commercial vehicles or vehicles for hire
    • Loans term greater than 84 months
    • Leases, balloon notes, full cash purchases
    • Salvaged or reconstructed titles
    • Recreational vehicles (i.e. motorcycles, RVs, boats, golf carts)