Vehicles published in either value guide are eligible to be insured after they have been certified by Philadelphia Insurance Companies. Coverage can be purchased for one and two year old model vehicles. Vehicles are enrolled for coverage each month on a reporting form submitted by the insured. Coverage is written for terms from 12 to 60 months. Vehicles leased to a customer beyond the original lease term may be extended for coverage up to an additional 180 days upon submission of a Residual Value extension form.
Premium is on a per vehicle basis.
The premium is based on a percentage of each insured Residual Value enrolled. Repossession coverage may be added which extends coverage on a prorated basis to the month of repossession. Repossession coverage will not be afforded below 12 months.