Leased Vehicle Insurance

Leasing a vehicle, rather than buying one, makes financial sense to many people. Some are interested in only a short commitment, some find the cost of vehicle purchase prohibitive, and still others have different reasons altogether. This does present a unique scenario regarding car insurance, and it is a good idea to know what you’re getting into if you are thinking of leasing.

Get the facts from a Chicago car insurance specialist. At Insure on the Spot, we want to help you make the best decisions possible. Contact us today 773-202-5060 to find out more today.

Leasing and Auto Insurance

Be aware of the details of your leasing agreement. Sometimes insurance is included. This is unusual, and when it does happen it is likely that it is not the best value. In most cases, the lessee will be required to get GAP, guaranteed auto protection, insurance. This is a part of a policy that works in conjunction with standard insurance.

Because the cost of the car is bound to be much more than what is paid by the lessee, gap insurance will cover the costs of repairs or replacement if an accident were to occur. This is because standard insurance is not likely to cover the entirety of the costs. Typically, everyone that wishes to lease a car must have this type of insurance in order to be allowed to do so.

Contact Us

When you have questions about car insurance, you owe it to yourself to speak to a knowledgeable Chicago auto insurance expert at Insure on the Spot. Contact us today at 773-202-5060