What other types of coverage should I get if I am going to be leasing a car?
I know I need full coverage, but is there any extra coverage I should add at the dealership or with my insurance company?
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Answered on May 03, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
“Something to consider with a leased vehicle is gap insurance.
If you owe more on your lease buyout than the vehicle is worth, gap insurance would cover the difference. Gap insurance is normally available through your lender, your dealership, or car insurance companies.
You’ll also want to make sure you’re properly covered with your insurance company. Having comprehensive coverage and collision coverage is important, but you also want to make sure your personal assets are protected. Your coverage limits need to be high enough to protect your finances if you’re ever in an accident.
If you decide to get gap insurance through your car insurance carrier or raise your coverage limits, you should shop around. Requesting car insurance quotes online will ensure that you’re finding the best deal on the coverage you need.
Want to cut your car insurance costs? Keep the coverage and find the savings with Jerry.”
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