If you lease a car what insurance do you have to get and how do you insure it?
There are now a good amount of people who are choosing to lease their cars rather than buy them. The dealer from which you lease “your” vehicle will require you to purchase comprehensive and collision insurance. Moreover, you will also have to buy the insurance that is mandated by your state–make sure to check out your state’s required insurance policies.
- Comprehensive Coverage protects your car from accidents that do not involve another automobile. Things like tree branches, rocks, missiles, deer, etc.
- Collision Coverage covers damage to your car that is the result of an accident with another vehicle or object.
The leasing company may also require Gap Insurance to protect your leased car. If you have an accident and your car is totaled, you will likely still owe money to the company even after the insurance check comes in due to depreciation.
The right auto insurance policy to keep yourself protected on the road is what you need to make sure those claims don’t break the bank. Contact insurance experts Perry & Carroll in Elmira, New York for all of your car insurance coverage needs.