Search

News Feed

Auto Insurance and Leasing

0 like 0 dislike
28 views
Posted by VirtualAssassin
When leasing a car, it’s easier to stick with the same company for your auto insurance. What you don’t know, however, is that you may end up paying too much for your coverage and it’s better to look elsewhere for lower rates.

When you lease, the vehicle that you will drive belongs to the leasing company. They want to make sure that their investment is covered in the event the vehicle gets damaged, totalled or stolen. They typically want to get covered for the difference between what your auto-insurer pays and your outstanding leasing obligations at the time of the accident or damage. This is called GAP, short for Guaranteed Auto Protection, and is usually included in the leasing contract.

If your leasing company is called BMW Financial Services, Chrysler Financial or any other finance division of an automaker, then chances are your GAP insurance will be offered by the same lease company.    

You are under no obligation to accept GAP insurance included as part of your lease agreement. Why pay an insurance premium if you could get the same coverage for a lower price?

Invest some time shopping by comparing quotes from other insurance companies, including your existing one. Ask for discounts that you already qualify for and adjust your coverage accordingly.

Please log in or register to reply to this post.

Related posts

0 like 0 dislike
0 comments 70 views
0 like 0 dislike
0 comments 27 views
0 like 0 dislike
0 comments 18 views
0 like 0 dislike
0 comments 58 views
0 like 0 dislike
0 comments 36 views
0 like 0 dislike
1 Comment 38 views
0 like 0 dislike
0 comments 36 views
0 like 0 dislike
0 comments 26 views
0 like 0 dislike
0 comments 20 views
0 like 0 dislike
1 Comment 28 views
0 like 0 dislike
1 Comment 31 views
0 like 0 dislike
0 comments 56 views
0 like 0 dislike
0 comments 17 views
0 like 0 dislike
0 comments 21 views
0 like 0 dislike
0 comments 63 views
0 like 0 dislike
0 comments 37 views
0 like 0 dislike
0 comments 45 views
0 like 0 dislike
0 comments 43 views
0 like 0 dislike
0 comments 46 views
0 like 0 dislike
0 comments 36 views
0 like 0 dislike
0 comments 29 views
0 like 0 dislike
0 comments 35 views
0 like 0 dislike
0 comments 28 views
0 like 0 dislike
0 comments 46 views
0 like 0 dislike
0 comments 35 views
0 like 0 dislike
0 comments 45 views
Connect with us:
...