Insuring a leased car? Check out what you need to know about obtaining auto insurance.
As a motorist, it’s of the utmost importance that you have the right insurance coverage. In the event of an accident, auto insurance can help give you coverage for property damage as well as bodily injury. It’s a must for all vehicles, including leased vehicles. Check out what you need to know about insuring a leased car so that you can rest easy knowing that you’re well protected.
Collison and Comprehensive Coverage.
When leasing a car, it’s important to be clear on all the fine print. Check to see if your dealer requires a particular coverage type. Since you’re leasing the car, if something were to happen to it, you’d rely on the insurance coverage to cover the damages. Discuss insurance with your dealer and broker to determine whether you need collision and comprehensive coverage.
While collision coverage covers damage caused by a vehicular accident and comprehensive coverage protects the vehicle from any other type of damage, sometimes you’re required to purchase gap insurance as well. This type of policy provides you with the coverage that you need if your vehicle is damaged beyond repair. It helps to cover the gap between the amount you owe on the car and the amount that the insurance company pays out so that you’re not left to pay the rest out of pocket. However, sometimes a gap policy is included in your monthly payments. Before you purchase a secondary policy, check to see what type of coverage that you already have.
Find out what you need to know about insuring a leased car. Get the right auto insurance so that you’re well protected. Contact Mike Leonard Insurance Agency in North Texas. We’ll work to get you the right coverage from one of our carriers Kemper, MetLife, Travelers, The Hartford, Safeco Insurance, Progressive, and American Strategic Insurance so you can rest easy with excellent protection.