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Car Lease Insurance Albert Lea MN

Car insurance rates are important when leasing. Coverage requirements are higher than most people already have. Find the lowest lease insurance rates by comparing quotes from multiple companies.

Vanderwaerdt- Nancy
(507) 377-0227
504 Bridge Ave
Albert Lea, MN
 
Allstate Insurance Companies
(507) 373-7074
206 West Clark Street
Albert Lea, MN
 
Klatt- David J
(507) 373-2377
106 S Broadway Ave
Albert Lea, MN
 
New Richland Insurance
(507) 465-8111
132 Broadway Avenue North
New Richland, MN
 
Blue Cross Blue Shield Mike Ruzek
(507) 433-8845
110 1st Avenue Southeast
Austin, MN
 
American Family Insurance
(507) 377-7328
1907 East Main Street
Albert Lea, MN
 
Rechtzigel- Gary E - State Farm Insurance Agent
(507) 373-7717
1506 East Main Street
Albert Lea, MN
 
Dawald- Jc
(641) 324-2141
88 8th St N
Northwood, IA
 
Justice- Steven R - State Farm Insurance Agent
(507) 437-4447
108 3rd Avenue Northwest
Austin, MN
 
Schmitz- Mark S
(507) 553-5028
10 N Broadway
Wells, MN
 

Car Lease Insurance

Most auto lease companies require you to maintain insurance coverage as follows:

  • Liability coverage: $100,000 per person / $300,000 per occurrence
  • Property liability coverage: $50,000
  • Comprehensive and collision for actual value with no more than $500 deductible.

In Canada, $1,000,000 in liability coverage is required for car insurance when leasing.

This may be more coverage than you would normally buy, which could mean an additional leasing expense — unless you know how to get better rates. Most people are already paying too much for insurance, before they lease.

What's the deal with car insurance when leasing?

When you lease, your vehicle belongs to the lease company. They want to make sure that their investment is covered should you have an accident that damages or destroys the vehicle, or if the vehicle is stolen. 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 if they should be held partly responsible.

Of course, having sufficient car insurance coverage is smart whether you are leasing or not. Many people attempt to get by with minimum coverage required by law but it's a big risk since there's so much to lose. Accidents do happen. Large lawsuits are common. If you have insufficient car insurance coverage, you can be personally sued for additional money after ...

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