Excess Wear And Tear Insurance
Purpose is to protect the leasing company from uncollectible excess wear and tear charges from the lessee.
Provides coverage for up to $5000 of excess wear and tear damage. Cover losses include tires, windows, dings, and dents under a $1000.
Provides $300-$400 in fee income to the dealer (Voluntary Program)
Provides customer satisfaction to the lessee and hopefully gets them into a lease
Program can be purchased on a blanket program which would provide coverage for all leased vehicles. This is less expensive then the Voluntary program and provides coverage for all vehicles in your lease portfolio
Voluntary is more expensive but provides fee income to the dealer.
Open Return Coverage
- $0 ded/ $1000 Single Incident/$5000 Maximum Claim
- $100 ded/$1000 Single Incident/$5000 Maximum Claim
Rates by term
- 12-36 Term $229 $0 Deductible Coverage
- 12-36 Term $200 $100 Deductible Coverage
- 37-42 Term $262 $0 Deductible Coverage
- 37-42 Term $227 $100 Deductible Coverage
- 43-48 Term $270 $0 Deductible Coverage
- 43-48 Term $235 $100 Deductible Coverage
- 49-60 Term $293 $0 Deductible Coverage
- 49-60 Term $254 $100 Deductible Coverage
- 61-72 Term $334 $0 Deductible Coverage
- 61-72 Term $288 $100 Deductible Coverage
***Dealer will mark these rates up and generate fee income while protecting against uncollectable EW&T losses***