Your leased vehicle must have auto insurance in Antioch.
Who doesn’t love driving a brand new car? Even the smell alone is enough for most of us to buy a new one. Leasing a vehicle is a good option if you want to save some cash without sacrificing your ride. With interest rates so low, leasing a vehicle has become more economical than buying an expensive car outright. Even so, before you take your new vehicle for a spin on the open roads, secure it with auto insurance in Antioch.
Here’s what you need to know about car insurance and your leased vehicle.
Coverage is mandatory
Before you drive off the lot with your new car, make sure you’re covered. Your leasing company or bank will likely insist that you get collision and comprehensive coverage to protect their investment. Collision coverage pays for damage to your vehicle if you hit someone’s car, another vehicle hits you, or your vehicle rolls over, regardless of who is at fault. Comprehensive coverage helps pay for damage to your vehicle from events other than a car accident, like theft, vandalism, and certain natural disasters. Additionally, most states require a minimum level of liability insurance. Find out more by talking to your insurance agent.
Your limits may be higher
Leasing companies often require high liability insurance limits when you lease a vehicle. Some also may require you to carry a lower deductible, too, or ask you to put money in reserve for the duration of the contract if your deductible is higher.
Gap insurance protects you
Gap insurance provides extra protection in addition to your basic car insurance for leased vehicles. If your leased car is stolen or totaled in an accident, gap insurance steps in to cover the money left to pay due on your lease, as well as what your insurance company would pay for a regular comprehensive or collision claim. When leasing a car, gap insurance is well worth it.
Are you ready to secure the right auto insurance in Antioch for your leased car? Visit the industry experts at Jack Stone Insurance Agency for your policies in Brentwood, Antioch, and neighboring cities in California!