Online Auto Insurance Outlines Coverage Specifics for Leased Vehicles
Consumers who go to lease a vehicle may find that they will have more extensive car insurance requirements than those who own.
Rancho Cucamonga, CA, January 24, 2011 --(PR.com)-- In the latest FAQ published on OnlineAutoInsurance.com, the writers address the fact that motorists who decide to lease an auto may need to purchase certain types of insurance that would not be necessary for an owner.
Lessors have an interest in getting their property back in an acceptable condition, and having certain types of financial protection can help ensure that this happens. Because of this, lessees may be required to carry higher liability limits, comprehensive and collision coverage, and even uninsured motorist property damage coverage.
Consumers who are leasing a car or are simply interested in adding comprehensive or collision coverage to a policy can generate car insurance quotes online to see a range of prices from the top insurers. If the costs are higher than expected, one option is to re-run a comparison with different deductible levels. Increasing a deductible often will lower a premium, but it will also raise the amount that a policyholder will have to pay out of pocket in the event that he or she files a claim.
According to the National Association of Insurance Commissioners’ 2008 data, the average cost of comprehensive policy for that year was $133, and the average for collision was $298. Prices vary, though, based on crash and theft statistics of a policyholder’s geographical area.
Another type of financial protection that has been recommended for lessees is gap coverage. This “protects you from owing the difference between an insurance settlement and the leasing company’s pay-off figure.”
Source: http://newjersey.gov/lps/ca/ocp/autogide.pdf
To read more about coverage-related issues, readers can go to http://www.onlineautoinsurance.com/ where visitors will find informative resource pages as well as a free-to-use quote-comparison generator that can help jump-start the search for a quality policy. Those who would like to read the full article about necessary financial protections when leasing a vehicle can click on the “Questions” link located at the top of the home page.
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Lessors have an interest in getting their property back in an acceptable condition, and having certain types of financial protection can help ensure that this happens. Because of this, lessees may be required to carry higher liability limits, comprehensive and collision coverage, and even uninsured motorist property damage coverage.
Consumers who are leasing a car or are simply interested in adding comprehensive or collision coverage to a policy can generate car insurance quotes online to see a range of prices from the top insurers. If the costs are higher than expected, one option is to re-run a comparison with different deductible levels. Increasing a deductible often will lower a premium, but it will also raise the amount that a policyholder will have to pay out of pocket in the event that he or she files a claim.
According to the National Association of Insurance Commissioners’ 2008 data, the average cost of comprehensive policy for that year was $133, and the average for collision was $298. Prices vary, though, based on crash and theft statistics of a policyholder’s geographical area.
Another type of financial protection that has been recommended for lessees is gap coverage. This “protects you from owing the difference between an insurance settlement and the leasing company’s pay-off figure.”
Source: http://newjersey.gov/lps/ca/ocp/autogide.pdf
To read more about coverage-related issues, readers can go to http://www.onlineautoinsurance.com/ where visitors will find informative resource pages as well as a free-to-use quote-comparison generator that can help jump-start the search for a quality policy. Those who would like to read the full article about necessary financial protections when leasing a vehicle can click on the “Questions” link located at the top of the home page.
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Contact
Online Auto Insurance
Benjamin Zitney
909-784-2475
http://www.onlineautoinsurance.com/
Benjamin Zitney
909-784-2475
http://www.onlineautoinsurance.com/
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