Getting Car Insurance for a Leased Car
Reader’s Question:
When buying or leasing a new car, how do I go about insuring it?
Brett
Gary, IN
You need to contact your agent or insurance company in Gary Indiana to know exactly. Give your agent all the important information and get a quote on the premium. If ever there will be a problem in affordability, you will be happy to find out about it before you made the purchase.
For example, my friend financed his car through a bank and at that time he could not afford comprehensive and collision coverage. His bank secured coverage for the vehicle. In this situation, the bank or leasing company will initially expect your friend to have enough comprehensive and collision insurance coverage to protect their interests. If the vehicle was severely damaged or stolen and he doesn’t have such insurance, the bank or leasing company could look to you for the value of the remaining financing of the car. Since the car has been destroyed or stolen, you might feel reluctant to pay for a vehicle you can no longer use. For these reasons, the insurance company will secure coverage for you if you do not – and expect you to pay the premiums.
You can start getting instant car insurance quote here in Gary Indiana, just type in your zip code. Its FREE!
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