The Complete Guide To Car Leasing And Insurance
Many customers ask about how car leasing insurance works before they take up a contract. Read our guide to find out how to get the right cover you need before you can drive away.
Can I lease an insured car?
All lease cars must be insured with fully comprehensive cover. Our insured leasing package provides this and is available for both personal and business customers. The cost of your insurance will be included on top of your fixed monthly payments.
With all vehicles, it is the responsibility of the driver to ensure they have insurance for the car before they take it out on the road. If you do not choose our insurance package, you’ll need to find fully comprehensive insurance through another party.
How does insurance work when leasing a car?
If you opt for an insured lease package, the costs will be added to your monthly payments. We only offer fully comprehensive cover. You cannot choose third party or third party, fire and theft insurance through another party.
Although comprehensive insurance can sometimes be a bit more expensive, this policy provides coverage for everything, including:
- Accidental damage
- Third-party cover
- Breakdown cover
- Maintenance support
- Shortfall protection
- Glass protection
Who is named on the policy?
When you apply for insurance for your new leased car, you need to state that the finance company is the registered owner of the car, rather than you.
Should you need to make a claim at any point in the future, and the insurance company are not aware of this, it can complicate matters and slow down the claims process.
When should I take out insurance?
As with any car, it should be insured from the very first day you receive it and must remain insured until it is returned at the end of the agreement.
What is GAP insurance?
Guaranteed Asset Protection (GAP) insurance is another type of cover which provides you with extra protection. Should the car be written off during the lease, this will cover the difference in cost between the funder’s valuation of the car and the current market value.
Learn more about GAP insurance here to see if this kind of cover is right for you.
Which insured cars can be leased?
When it comes to leasing an insured car, your options can be limited with some companies. But at Leasing Options, our insurance package is available across a wide variety of deals.
This means you are insured for theft, fire, accidents and third-party cover. Not only that but you get breakdown and maintenance support, shortfall protection, glass protection and much more.
How much is insurance on a leased car?
With all insurance prices, there are a number of different factors to take into consideration, such as the model of car, who is driving it, their driving history, and much more.
For the best way to see how much it might cost to lease an insured car, get in touch with one of our specialised team members. We’ll get back to you as soon as possible with a quote for the insured vehicle you want. Or, you can simply search insured cars online.
Insurance isn’t the only essential you’ll need to consider when you’re out on the road – you need to think about repairs, as well. Read our guide to car leasing with maintenance for more information on how to look after your car. Or if you’re considering driving a van, see our advice on insured van leasing, too.