Leasing a Car

Whether it is for the sake of convenience or for financial reasons, leasing a car provides a valid alternative to buying a vehicle. However, for some, it may seem like leasing an automobile should automatically provide some measure of insurance. The vast majority of states require a certain minimum coverage for auto insurance. A consumer should understand whether or not he or she needs to purchase a separate policy when entering into a lease agreement.

To find an insurance policy that works for you, contact an Illinois car insurance agent from Insure on the Spot by calling 1-888-972-SAVE today.

What Insurance Do I Need?

Considering that auto insurance is mandatory for most states, knowing the following could potentially save time and hassle for many consumers:

• Lease agreements do not usually include auto insurance.
• Agreements may require both standard auto insurance and gap insurance.
• When leasing a vehicle, gap insurance is usually factored into regular payments.
• Insurance should comprehensively cover damages from accidents and other sources.

While those purchasing a vehicle through a loan or similar method may not elect to buy a gap policy, this insurance is more important for leasing dealers. As the insurance covers the difference between what insurance will pay and what a car costs in case it is totaled, if a dealership intends on further leasing or later selling the vehicle, gap insurance becomes a great safety net.

Contact Us

If you are looking to lease a vehicle and need auto insurance, look no further than your local car insurer. Contact the Illinois car insurance company Insure on the Spot today at 1-888-972-SAVE to learn more about how we find the best insurance for your situation.