Loss Damage Waiver (LDW) is a reinsured waiver for lease here pay here dealers to sell their customers instead of having them carry full coverage insurance. In the case of a total loss LDW covers the total debt owed to the dealer which allows the dealer to get the customer into another car making payments again. The contract is reinsured allowing you to collect premium and reserve it in your dealer owned reinsurance company to pay claims. The total amount of premium you write minus claims is the underwriting profit you will capture instead of sending it to an insurance company. Stop paying employees to get your customers to pay someone else (the insurance company) and capture that premium for your self! Imagine your book of business paying you a premium every month. Profit builds fast!
LDW is usually significantly less expensive for the customer than full coverage insurance which allows helps find them money for their car payment and other coverages.
Call us today for more information at (804) 824-9533!
Office: Monday-Friday 9:00am - 5:00pm
Address: 7319 Martin St, Gloucester, VA 23061
Phone: (804) 824-9533
Local Time Zone: EST
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