A Liability Damage Waiver (LDW) is an optional feature for lease-to-own customers that may protect them from ongoing financial responsibility for leased property impacted by covered loss or covered damage. The Liability Damage Waiver is only available through certain locations and for customers who accept this option when signing their agreement.
Customers that opt into Liability 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 Liability 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 Liability Damage Waiver coverage is not a type of insurance.