Liability Damage Waiver (LDW) is an optional program SmartWay offers to help customers manage risk. If something happens to your unit, our Agreement requires you to complete your Rent to Own term. If purchased, the LDW covers the remaining balance of your contract or the cost of repairs to the unit related to damage caused by fire, flood, or other Acts of God during the Rent to Own term (refer to your contract for a full listing of covered risks and exclusions). Most of us protect assets like our homes and autos – LDW is an affordable way to reduce your liability without a costly deductible.
LDW does not replace the unit; it relieves you from the burden of continuing to make payments without the ongoing benefit of the use of your unit.
LDW does not cover contents, attachments, or accessories (shed contents, trailered property, etc.).
LDW does not cover unexplained disappearance or abandonment of the unit, or intentional loss, damage, or neglect by customer. A police report may be required to process a claim related to LDW. See your contract for full details.
LDW is not insurance. You don't have to purchase this protection. Before you decide whether to enroll, you should consider whether any existing insurance coverage affords protection for loss or damage to the unit.
There is no deductible for LDW protection. When comparison shopping, you should consider the cost of the deductible of any insurance coverage that may provide similar protection.
LDW is for the term of the contract provided that the customer is current on required payments