Drivesure Insurance Services Canada Ltd.

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Loan Protection

Pays the remaining loan balance for your financed or leased vehicle when it is written-off. 

Loan Protection

Most vehicle replacement insurance products do not cover the remaining loan balance for your financed or leased vehicle when it is written-off. 

vehicles-10-years-old

Vehicles up to 10 Years Old

If your financed or leased vehicle is up to 10 years old, you could qualify to include Loan Protection on your New Car Replacement or Better Car Replacement policy. 

Up to 7 Years of Coverage​

Loan Protection coverage matches the term of your New Car Replacement or Better Car Replacement policy.
 

Financial Responsibility 

Loan Protection ensures you have peace of mind your personal financial responsibility to your lienholder is reduced or eliminated when your financed or leased vehicle is written-off.

Is your Vehicle Financed or Leased?

Vehicle replacement insurance products do not consider your remaining loan balance when your vehicle is written-off. 

Loan Protection pays the remaining loan balance on your financed or leased vehicle when your combined total loss settlements from your primary insurer and Drivesure do not satisfy the loan.  Loan Protection is available to be included on New Car Replacement and Better Car Replacement, and will pay up to 25% of the replacement value of the vehicle or $30,000, whichever is less.   

When you finance or lease a vehicle, there are additional costs included in the total loan amount. This could include negative equity from a traded-in vehicle, and non-refundable dealer fees and add-ons. These additional costs are typically not included under a vehicle replacement insurance policy. Additionally, at the beginning of your loan term, you pay more towards the interest than the principal balance, meaning your vehicle is depreciating faster than you are paying off your loan. Loan Protection helps minimize your financial impact when there is a remaining loan amount after the vehicle settlements from your primary insurer and Drivesure have been applied.  

Add to our New Car Replacement and better car replacement policy

Loan Protection can be added to our New Car Replacement and Better Car Replacement policy.

New Car Replacement

Get the brand new model of your car after a write-off.
 

For vehicles 1-5 years old

Better Car Replacement

Get a car with the same market value as your car at policy purchase, plus up to an additional 25% after a write-off

For vehicles 2-10 years old

Not Your Average Replacement Insurance

We’ve designed our policies to stand out from the competition.

Locked in Premiums

Your Drivesure premium won't increase because of a claim, change in address, or young drivers.

Flexible Terms

Policy terms up to seven years are available for brand new vehicles.

Payment Plans

Finance your policy monthly through your bank account or credit card.