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How do I insure a leased car?
I plan on leasing a new 2022 Toyota Camry. The dealership said that I'll need insurance when I pick up the car next week. How would I insure a leased car?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Although
car insurance
is essential on all vehicles, it’s especially important on leased vehicles because the dealership may have specific requirements on what coverage you carry.Dealerships often require lessees to carry
liability coverage
of $100,000 per accident and $30,000 per person and comprehensive coverage
and collision coverage
, with deductibles no higher than $500 or $1,000. This is also known as full coverage insurance. After confirming the required coverage with the dealership, shop around. Full coverage is more expensive than liability coverage, so comparing prices across companies will get you the lowest rate.
If you’d rather leave the hard work of gathering quotes to someone else, use Jerry. This app can collect quotes from up to 50 top insurance companies in seconds! Once you find a quote you like, you can purchase the policy. You should also confirm your policy’s effective date is before or on the date you are picking up your vehicle.
After you purchase your policy, your insurance company will send you
proof of insurance
, which you can then give to the dealership and take home your new car!View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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