EXTENDED CAR WARRANTY FOR RIDE SHARING
February 11th, 2020
Most recently, Vancouver joined a number of cities in Canada which now provide Uber and Lyft services.
Part of LGM’s vision for responsible mobility is to innovate and enhance our product portfolio to match the mobility disruptions, experiences, and desires of consumer drivers. This includes the next and future generations of ride shares.
At LGM, we look to serve this segment of drivers with an extended car warranty offering so that more drivers can benefit from protection. Within our flagship product, ride sharing drivers, such as Lyft and Uber drivers, can benefit from our SecureDrive Mechanical Breakdown Protection product. This product provides:
Flexibility in driving use changes: Ridesharing use is disclosed when a contract holder makes a claim. This gives consumers the flexibility to declare and use protection when he/she chooses to become a ridesharing driver at any time during the contract period.
Financial protection and minimized out-of-pocket expenses: When ridesharing is included in the contract, contract holders pay whichever amount is greater for a claim, either: (a) deductible amount or (b) 20% of authorized claim. This helps customers minimize out of pocket payments. For example, a $1600 claim amount would work out to a customer paying $320 or their policy deductible – whichever amount is higher.
To learn more and confirm eligibility, contact a LGM Dealer Development Manager or call 1-866-287-6200. Please note, not all products provide protection if the vehicle is used for ridesharing or commercial uses. We recommend reviewing your contract terms and conditions before using.
This blog is written by LGM Financial Services Inc. and posted for informational purposes only. While we want to provide you with valuable insights into vehicles and protection products, none of the information posted in this blog is intended to provide you with any mechanical, financial, legal or other professional advice. LGM is committed to integrity and transparency; we want you to know that LGM may have a financial interest in certain products mentioned in this blog. We only blog about products that we know and trust. Product information is provided in summary form; please be aware that contractual terms and conditions apply to each product. LGM Financial Services Inc., “LGM”, “SecureDrive” and applicable logos are trademarks of LGM Financial Service Inc. All Rights Reserved.