What is Walkaway Protection?
Walkaway Insurance is a unique program that providing NewRoads customers with financial flexibility when an unexpected life event occurs. Our 12 month complimentary protection provides consumers with the peace of mind knowing that they can return their vehicle qualifying for a benefit of up to $7,500.
These benefits are no-charge to our qualified customers for the first year regardless of age, employment status, or medical history receives coverage.
- Involuntary Unemployment
- Physical Disability
- Driving Restrictive Medical Condition
- International Job Transfer
- Accidental Death
- Self-Employed Personal Bankruptcy
How Does It Work?
1. You finance or lease a vehicle from NewRoads
You’ll receive one year of Complimentary coverage. At the time of financing or leasing, or within 30 days, you can choose to upgrade and extend your coverage for the full-term with more benefits.
2. Something unexpected happens
You get sick, suffer an injury, become unemployed, or experience another covered life-changing event and can no longer keep up with your loan or lease payments. We've got your back.
Your vehicle is involved in a total loss. More and more vehicles are being written off or deemed a total loss (ie. fire, theft, flood, accident) today than ever before. And sometimes, your primary auto insurance payout won’t be enough to cover the balance of what you owe on the vehicle.
3. You return your vehicle
With your complimentary coverage, you can use up to $7,500 as a credit to make up the difference between what you still owe on the vehicle and the depreciated value of the vehicle. If you chose to upgrade your coverage, you may be able to keep your car, while Walkaway covers your payments up to a certain amount - depending on your level of coverage.
In a total loss scenerio, the difference between what you owe and the primary insurance payout you receive for the market value of your vehicle is often referred to as a “gap”. Walkaway Total Loss Protection is designed to reduce or eliminate this gap.