Katapult Protection+ is an optional product that can be purchased alongside your lease agreement that protects your leased items in case of theft, fire, flood, or other natural disasters. You won’t have to pay out-of-pocket if your items are stolen or damaged beyond repair. Plus, the replacement item keeps you on track toward ownership.
Includes:
Liability Damage Waiver
A peace of mind benefit that covers the cost of stolen or irreparably damaged property.
Merchandise Replacement
Provides a similar replacement item, and your previous payments still count toward ownership.
Unforeseen Loss Cover
Don’t worry—you’re covered when the unexpected happens, like theft or irreparable damage from weather events.
Liability Damage Waiver
A peace of mind benefit that covers the cost of stolen or irreparably damaged property.
Merchandise Replacement
Provides a similar replacement item, and your previous payments still count toward ownership.
Unforeseen Loss Cover
Don’t worry—you’re covered when the unexpected happens, like theft or irreparable damage from weather events.
How It Works
If your leased item is stolen or damaged beyond repair by a covered event, Katapult Protection+ covers the loss.
After filing a claim and providing all required documentation, Aaron’s provides a similar item replacement.
No interruptions—You keep leasing without starting over!
Frequently Asked Questions
Katapult Protection+ (KP+) is an optional add-on to your lease that provides added protection if your leased merchandise is stolen, damaged beyond repair, or destroyed by a covered Act of God.
KP+ is not required to start a Katapult lease, and you can cancel it at any time
KP+ includes two benefits designed to help if you experience a Covered Loss:
- Liability Damage Waiver
When you lease with Katapult, you agree to pay Katapult the fair market value of your leased merchandise if it is stolen, damaged beyond repair, or destroyed by any cause other than normal wear and tear.
The Liability Damage Waiver (LDW) shifts that responsibility back to Katapult for certain losses, called Covered Losses. If you experience a Covered Loss, you do not have to pay Katapult for the value of the affected merchandise.
- Merchandise Replacement Benefit
LDW protects you from having to pay Katapult for a Covered Loss—but what happens to the merchandise you were leasing? That is where the Merchandise Replacement Benefit (MRB) comes in.
If you experience a Covered Loss, MRB allows you to pick up where you left off and lease replacement merchandise without starting over. The replacement merchandise will be of like kind, age, and condition to the lost or damaged merchandise, with the same lease rate and remaining lease terms.
Payments you already made toward the original merchandise continue to count toward ownership.
Covered Losses include:
- Theft; and
- Irreparable damage or destruction caused by an Act of God
Covered Losses do not include deliberate damage or damage caused by carelessness.
Your KP+ terms provide the complete description of what is and is not covered. Katapult Customer Care can also help if you are unsure whether an event may qualify.
You can choose to add KP+ when you start an eligible Katapult lease.
Before you enroll, you will see the cost of KP+, the benefits included, and the applicable coverage terms. KP+ is optional and is not required to complete your lease.
You can cancel KP+ at any time by contacting Katapult Customer Care at: 1-833-KATAPULT (1-833-528-2785)
No. KP+ is completely optional.
You can start a Katapult lease without KP+, and choosing not to enroll does not affect your ability to enter the lease. If you do add KP+, you can cancel it at any time.
No. KP+ applies only to the individual lease where you choose to add it.
If you have more than one Katapult lease and want KP+ on each one, you will need to enroll separately for each eligible lease.
The cost of KP+ is calculated as a percentage of your pre-tax lease renewal payment.
Your exact KP+ payment will be shown before you enroll, along with the applicable coverage details. Because KP+ is optional, you will have the opportunity to review the cost before deciding whether to add it to your lease.
Contact Katapult Customer Care at 1-833-KATAPULT (1-833-528-2785) as soon as possible after a loss. Our team will explain the claim process and the information you need to provide.
For a theft claim, be prepared to provide information such as a police report, where the merchandise was located when it was stolen, and any requested photos or evidence of forced entry.
For damage caused by a fire, flood, or other natural disaster, be prepared to provide the location of the merchandise, a description of what happened, and photos of the damaged merchandise and affected area.
Contact Us
Call our customer service line for assistance: 833- KATAPULT (528-2785)
or chat at katapult.com
