Loss Damage Waiver

Loss Damage Waiver

A Loss Damage Waiver (LDW) is an optional protection plan that may protect you from ongoing financial responsibility for leased property impacted by covered loss or covered damage in case of accidents, theft, or other unforeseen events.

Customers that opt into Loss Damage Waiver coverage are protected from ongoing financial responsibility for further lease agreement costs when a wide range of unexpected events that harm their leased merchandise occur, such as fire, theft, flooding, and natural disasters. Once a covered Loss Damage Waiver claim is successfully filed and processed, the customer will no longer be responsible for future payments coming due on the account. The customer would still be financially responsible for any past-due payments, NSF fees, and late fees. Please note that Loss Damage Waiver coverage is not a type of insurance.

At Okinus, Inc. (“Okinus”), our LDW applies to all our product offerings, ensuring that customers are covered regardless of the item they lease. The waiver fee is conveniently included in the total lease payment amount. LDW remains in effect based on the current status of the lease and continues for the term of the lease or until the lease has been paid in full, unless canceled.

To file an LDW claim, call Okinus at 800-472-1334 to obtain claim instructions. Do not send an account number or supporting loss documentation through the general website contact form or live chat. An Okinus representative will provide the appropriate delivery instructions.

While you can cancel LDW anytime by contacting us, you cannot add it after the initial contract is signed.

LDW can be beneficial for those looking for added protection and peace of mind, but its value depends on individual risk tolerance and existing insurance coverage. We hope this answers any questions you may have about Loss Damage Waiver coverage. Our staff are available to answer additional questions. Call 800-472-1334 or visit https://www.okinus.com/.