Lease Car Insurance in US States

March 1st, 2010


If you are considering leasing a car you will still need to purchase your own auto insurance policy. When you lease, your vehicle belongs to the lease company. They want to make sure that their investment is covered if something happens to the car. They may also want you to have sufficient liability coverage in case you are at fault in causing an accident. This not only protects you from financial disaster, but it also protects the lease company from financial harm.

So whoever is financing your car will require you to buy both collision and comprehensive coverage for the vehicle. Collision covers damage to the car from an accident with another automobile or object and comprehensive is coverage for losses from something other than a collision with another car or object. They will generally want you to purchase: liability coverage $100,000 per person/$300,000 per occurrence, property liability coverage $50,000 and comprehensive and collision for actual value with no more than $500.00 deductible.

This may be more coverage than you would usually buy, so your insurance expense may be increased. In this case, you would benefit from shopping around to try to get a better rate. Insurance experts say you can nearly always get the higher level of insurance at about the same rate as you are currently paying by getting quotes from a few different insurance companies, seeking out discounts that you qualify for and adjusting your coverage.

In addition to the regular auto insurance, on a leased car, you will have to pay gap insurance. The “gap” is the difference between the amount you owe the leasing company and the amount the insurance company pays out if your car gets totaled. Cars depreciate in value quickly so when a car gets totaled there is usually a gap between the fair market value and the loan amount. The cost of gap insurance is generally rolled into the lease payments. You don’t actually buy a gap policy. Generally, the auto dealer buys a master policy from an insurance company to cover all the cars it leases and charges you for a “gap waiver.” This means that if your leased car is totaled, you won’t have to pay the dealer the gap amount.

By: Marilyn Katz

About the Author:

Auto Accident Personal Injury Insurance Claim: How to Evaluate and Settle You...
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Customer Review: Recently I attended a Saturday auto clinic that was held by a local repair shop. The technicians went over the basics of how to change a tire, inspect belts, check oil, and other general car care tips. At the end of the session I asked if they had an...

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DWI Auto Insurance – Will My Rates Increase?

March 1st, 2010


If you are convicted of a DWI then you better be prepared for your vehicle insurance to skyrocket. DWI auto insurance rates are more than any other classification of driver’s will pay. This is because a DWI conviction classifies you as a high risk driver and you will pay more in premiums to cover that risk. If you live in a state where auto insurance is optional it may not be such a big deal. However there are plenty of states where it is mandatory and the DWI auto insurance rates may be too much for you to pay.

You may get lucky though because may insurance companies only review a person’s driving record every three years. The fact that you have a DWI may go undetected for quite some time on your current policy so you won’t be charge more. Should you decide to switch companies though for auto insurance or make any changes to your current policy your DWI will be discovered. Many times a DWI can result in your request for auto insurance not being honored or your current policy being canceled.

The Department of Motor Vehicles has made it harder for those with DWI convictions to hide them from insurance companies though. In many states a SR-22 form of insurance is required before the person can get their driver’s license reinstated. This requires contacting your insurance company and letting them know about the situation. SR-22 insurance is more expensive that regular auto insurance because of the high risk involved with the driver. You can expect to be mandated by the Department of Motor Vehicles to have this type of insurance for up to five years.

To make sure you keep the SR-22 insurance coverage after you provide proof the Department of Motor Vehicles has your file flagged by the insurance company. Should you cancel the insurance policy or they cancel it for non-payment they will be notified and your diver’s license will be suspended.

The insurance company does reserve the right to cancel an auto insurance policy should they find out you have a DWI. They don’t have to offer the SR-22 coverage but many of them do because of the high amount of money they can charge for it. If the insurance company plans to cancel your current policy written notice will be sent to you so you are aware of the situation.

According to various studies 25% of individuals with a DWI conviction never find it showing up on their driving record. This is often due to the lack of effective documenting between the legal system and the Department of Motor Vehicles. In other states the DWI can be eliminated after the driver completes a treatment program and a driver’s education class.

By: Caleb Liu

About the Author:
If you found this information on DWI Auto Insurance useful, you’ll also want to read about DWI Lawyer.

Auto Accident Personal Injury Insurance Claim: How to Evaluate and Settle You...
by Dan Baldyga
Amazon Price: $35.10
Customer Review: Put simply, I would not have been able to negotiate with the insurance companies without the knowledge imparted in this book. We were able to settle our claim, without lawyers, for a very reasonable amount, based on the information we read in this bo...

Insurance Settlement Secrets: A Step by Step Guide to Get Thousands of Dollar...
by Matheson Mackinnon
Amazon Price: $19.77

Auto Upkeep: Basic Car Care
by Michael E. Gray
Amazon Price: $16.29
Customer Review: Recently I attended a Saturday auto clinic that was held by a local repair shop. The technicians went over the basics of how to change a tire, inspect belts, check oil, and other general car care tips. At the end of the session I asked if they had an...

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I canceled my auto insurance policy mid month how long wil it take for them to reimburse the prorated premium?

February 26th, 2010
hiimjordan2000 asked:


I canceled my auto insurance policy 6 days after the policy start date, how long should it take before I am reimbursed the money they owe me?
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Compare Auto Insurance Quotes With Local Agents?

February 26th, 2010
billye asked:


I know there are many different sites where I can compare auto insurance quotes. I am wondering if there are any sites that have local agents available on them? My local agent just retired and I am looking around for new coverage, I just don’t want to call everyone in the phone book you know.
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American Auto Insurance – Chicago, IL

February 25th, 2010
yellowbook asked:


American Auto Insurance 773-286-3500 www.yellowbook.com

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Compare Auto Insurance Quotes With Local Agents?

February 25th, 2010
Modern Empire asked:


I know there are many different sites where I can compare auto insurance quotes. I am wondering if there are any sites that have local agents available on them? My local agent just retired and I am looking around for new coverage, I just don’t want to call everyone in the phone book you know.
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Can I get auto insurance without any money down?

February 25th, 2010
c-dawg asked:


I need auto insurance and I need it fast. I’m picking up a car tomorrow. But I don’t have the cash for the initial starting payment that most of them ask for. Are there any that just let you make the first payment next month? Please, any help would be much appreciated.
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Geico nonowner auto insurance for rental cars?

February 24th, 2010
Jak D asked:


I intend on driving a rental car for a couple of months. I don’t own a car and never held any auto insurance in the past.

Will Geico’s nonowner auto insurance be right for me? Any feedback for this insurance product? Any nonowner insurance policies I should be avoiding?

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5 Things You Need to Know About SR22 Auto Insurance

February 24th, 2010
elenmorre asked:


sr22autoinsurance.org suggest that when you have a bad driving record, you dont need be stripped out of your driving privileges and that getting an SR22 auto insurance is the answer.

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Does anyone know where i can get cheap auto insurance?

February 23rd, 2010
Prissy asked:


Im interested in purchasing a car and been getting qoutes online for auto insurance. I just wanted to know if anyone knows a pretty reasonable insurance company. If so please let me know, (and please no slick comments..)
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