2006-06-27 11:01:35 · 13 answers · asked by liquidsanek 2 in Cars & Transportation ➔ Insurance & Registration
Absolutely. While you are leasing- the lease co. technically owns the vehicle. That means it is in their interest that you carry coverage on the vehicle in the event that it is stolen or damaged. If you do not take your own insurance out on the car- they will "force insurance" on it. This will be much higher than the rates you can get on your own! They sometimes also require higher liability limits than the state minimums. Some lease companies want 100/300/50 and others have no stipulation about liability limits. You may want to check in to that as well.
Good Luck :D
2006-06-27 12:06:28 · answer #1 · answered by bellytail 5 · 4⤊ 0⤋
Full coverage means a lot of different things to a lot of different people.
When you lease a vehicle - they will require liability at 100/300/50 and comp/collision at $500 detuct or less.
2006-06-27 17:07:20 · answer #2 · answered by PeppermintandPopcorn 3 · 0⤊ 0⤋
While it is really up to the leasing company, I have never heard of one that does not require full coverage as this protects them.
2006-06-27 11:05:56 · answer #3 · answered by davidmi711 7 · 0⤊ 0⤋
Yes, It is a requirment for the leasing company incase something happens to the car, they are protecting their invest.
2006-06-27 12:11:11 · answer #4 · answered by Latitude 1 · 0⤊ 0⤋
yes i am leasing my new car and i have to have full coverage.
2006-06-27 12:20:09 · answer #5 · answered by ~Mrs.C 4 · 0⤊ 0⤋
Absolutely. You don't own the car. The leasing co. needs to be protected.
2006-06-27 21:16:33 · answer #6 · answered by ric_ozz 3 · 0⤊ 0⤋
They should, or else you will have to pay for the repairs out of pocket. Some might sell you coverage with the car, but you pay for it.
2006-06-27 11:08:15 · answer #7 · answered by 007 3 · 0⤊ 0⤋
yes, it's their vehicle. Only if you own it do you not have to have physical dammage or full coverage as you call it.
2006-06-27 11:19:19 · answer #8 · answered by Irish 7 · 0⤊ 0⤋
yea and its sucks cause depending on the bank (i have wells fargo) they want you to have higher than normal. find out the banks requirnments before u go foward
2006-06-27 11:22:28 · answer #9 · answered by bringenkaos 2 · 0⤊ 0⤋
yes
2006-06-27 11:18:22 · answer #10 · answered by roger b 2 · 0⤊ 0⤋