DriveShield
The bridge to your next ride
If your vehicle is declared a total loss, DriveShield fasttracks you back behind the wheel quickly and seamlessly, minimizing disruption to your daily life. Total loss doesn’t mean total stop. DriveShield safeguards your finances by helping cover the gap between your vehicle’s worth after a total loss and the insurance payout, applying that difference toward your new vehicle so you can get back on the road and move forward with confidence.
Product Type: Vehicle Protection
How it works
- Your vehicle is totaled and insurance settles your claim.
- Return to your dealer to purchase or lease your replacement vehicle.
- We cover the difference between your vehicle’s value and the insurance settlement, applying it to your new vehicle.
*If you’re uninsured, we calculate your benefit using your vehicle’s actual cash value instead of an insurance payout. To qualify, the replacement vehicle must be purchased through your dealer within 90 days of the date of loss.
Coverage details
Depreciation benefit
In the event of a total loss and your purchase of a replacement vehicle from the selling dealer within 90 days of the primary insurance settlement, we will issue the selling dealer a benefit defined as the covered vehicle purchase price/lease agreed upon value of the vehicle on the information schedule, less the primary insurance settlement or maximum benefit on the information schedule, whichever is lower. If uninsured, the replacement vehicle must be purchased or leased from the selling dealer within 90 days of the date of loss, and actual cash value will replace the primary insurance settlement above. The benefit will be in the form of a down payment on the replacement vehicle purchased or leased from the selling dealer, subject to the terms and conditions of this agreement. This agreement has no cash or other value should you choose not to purchase a replacement vehicle from the selling dealer. In no event shall the depreciation benefit exceed the maximum benefit.
YOU MAY ONLY PURCHASE THIS AGREEMENT WITHIN 1 YEAR OF THE VEHICLE PURCHASE DATE AND IF NO TOTAL LOSS HAS BEEN INCURRED.