How Auto Deductible Reimbursement (ADR) Works:
The primary borrower is eligible for coverage. If the loan is joint, the co-borrower is not eligible for the ADR benefit.
All vehicles the primary borrower owns (i.e., titled or registered) and insures are eligible for coverage.
Only four-wheel, non-commercial passenger vehicles (cars, trucks, vans) are covered; ADR does not cover motorcycles, boats and RVs.
A claim can be filed if the paid claim exceeds the borrower’s deductible and has been approved and paid by the borrower’s primary auto insurance. Includes comprehensive and collision claims and requires repairs to be made.
If claim is approved, the borrower will be reimbursed for the deductible he/she paid. Refer to program details above for maximum benefit amounts.
Be sure to add GAP coverage when you apply for your PenFed vehicle loan online or call and talk to a representative at 800-247-5626.