Walkaway Protection Program
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If you're like most people, you're grateful for the wheel, but not the financial commitment that comes with it. After all, things change.
Shouldn't your loan or lease obligations be able to change too?
WALKAWAY lets you return your car under several circumstances.
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involuntary job loss
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physical disability - unable to work
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loss of driver's license
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bankruptcy of the self-employed
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critical illness - living benefit
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death due to critical illness
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international job transfer |
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... and cancel up to $7500 in debt.
Better yet, everyone qualifies for coverage - regardless of age, health or employment record.
Financial planning means financial freedom.
We can't predict the future. But we can build on the past.
Frequently Asked Questions
I am older and have a heart condition am I covered?
Yes, your age and most pre-existing health conditions will not exclude you from coverage.
I am a Diabetic - if I were to lose my vision and subsequently my license would I be covered?
Yes in fact you would. You would also be covered for work related disabilities and covered critical illnesses arising from Diabetes.
I have been living with cancer and just leased a new car but I have fear of it worsening, from what I have read it seems that I am covered for many situations - is this true?
Yes it is.
I have Multiple Sclerosis - am I covered for disability even though I have a pre-existing condition?
Yes.
I have Cystic Fibrosis and I am on a surgery waiting list - am I covered for disability if I am off work for over 60 days due to this eventual surgery?
If you have been scheduled or advised for/of surgery prior to your policy effective date we would not cover you - however, you are covered under critical illness if this were to happen.
We are planning on a family, what would happen if I had pregnancy complications and could not physically work for over 60 days - would we qualify?
Yes - with adequate proof of your claim you would qualify under this scenario.
Is the USA considered "international" in a job transfer situation?
Yes - The USA Qualifies.
I'm going to quit my job, do I qualify?
No - we cover events that are beyond your control and we cannot extend coverage to you at this time - sorry.
I'm in the military - do you cover me for out of country assignments?
Unfortunately we cannot provide you coverage under job transfer. Government positions that are known to involve international transfers are also explicitly excluded - sorry.
If I use my WALKAWAY policy does it in any way damage my credit rating?
No - in fact WALKAWAY is a credit rating insurance and designed to not only protect your credit rating it also protects your savings.
I have been told that I need a co-signer - if I lose is my job is my co-signer on the hook or at risk?
No, if you qualify to use your policy you can make claim, return and the financial responsibility for both of you is over.
If I use my WALKAWAY Protection is my returned vehicle considered a voluntary repossession?
No - it would represent an early pay out of your vehicle and not degrade your credit rating in the least.
I have put money down on my lease - do I get any money back if I qualify to make a claim?
Yes, you may be eligible to receive a full or partial, pro-rated refund of your lease down payments, which includes graduate and Visa rebates. Sorry, this benefit is not available if you finance your purchase.
How long does a claim take to complete?
Our average has been 34 days.
Can I have my loan paid out by WALKAWAY any faster than 34 days?
By getting your proof of claim paperwork from you as soon as possible will drastically speed up the process - our fastest claim was paid in 9 days!
Do I have use of my car while I am making a claim?
Yes - in fact your car and it's related obligations remain yours until your claim qualifies for payment. Your Selling Dealer or the Administrator will instruct you when to drop it off.
My car has accident damage - what now?
You are responsible to have insured damage repaired before you return it - see your selling dealer.
How do both my husband and I get this coverage?
Authorized dealers supply one complimentary certificate per vehicle and either one of you may then purchase a full term policy, however you must both be named on the loan or lease.
I've had some cosmetic customizations made to my car - what about my investment?
In some cases customizations such as lowering your car are undesirable and must be corrected at your selling dealer unfortunately you will be responsible for these costs, others may not effect of your claim. See your selling dealer for what they consider undesirable.
I financed my taxes and put no money down - what happens if the $7,500 policy maximum isn't enough to cover my difference?
Unfortunately this does happen, especially when you've financed taxes, extras, larger amounts, and in no money down situations. In these cases WALKAWAY Elite is advised. If your claim situation is in excess of the policy maximum fortunately you have a policy and it will be honoured to the maximum benefit as stipulated; any excess amount will unfortunately be your obligation.
See Extended Coverage Section
