Auto Insurance - Lease / Loan

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Have you just leased your brand new car?
Maybe you should consider The ERIE Auto Lease/Loan Security Coverage. What will your auto policy pay if you total your vehicle in an accident? Your auto policy will pay actual cash value of the vehicle - which may not necessarily cover the balance of your lease or loan, leaving you responsible for the difference. Because of interest rates, the depreciation and other costs, your new vehicle may actually be worth less than the total amount of your loan or lease.

The ERIE's Auto Lease/Loan Security Coverage

Auto Lease/Loan Security Coverage provides payment for the difference between the actual cash value of your new car and the unpaid balance of your lease or loan in the event ERIE determines your vehicle to be a totalloss.*

This means that your ERIE auto policy will pay for the actual cash value of your new car and the Auto Lease/Loan Security Coverage will cover the balance owed on your loan or lease. With this coverage, you are protected from continuing to pay on a car you no longer possess because of an accident or loss. Consider adding The ERIE's Auto Lease/Loan Security Coverage to your auto policy. Contact your ERIE Agent today to see if you qualify for this powerful extension of coverage that will provide additional security and peace of mind for you as you drive your brand new car!

ERIE's Auto Lease/Loan Security Coverage may be purchased on a new private passenger auto insured by a Pioneer Family Auto Policy, Pioneer Garage/Auto Policy or Pioneer Commercial Auto Policy. Both Collision and Comprehensive coverages must be purchased.

*No coverage for overdue lease/loan payments, financial penalties imposed for excessive use, nonrefundable security deposits, costs for warranties or other insurance and carry-over balances from previous loans or leases.