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Car Lease Insurance Bassett VA

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.

Allstate Auto Insurance
(888) 355-7971
147 Franklin St
Rocky Mount, VA
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance Companies
(276) 647-8769
518 Virginia Avenue # B
Collinsville, VA
 
Jim McMillan Insurance
(276) 647-1465
4940 Kings Mountain Road
Collinsville, VA
 
Ford Insurance Agency
(276) 632-3451
38 East Church Street
Martinsville, VA
 
Oakes Insurance Agency
(276) 632-6740
1321 Memorial Boulevard South
Martinsville, VA
 
Dillon Insurance Agency
(276) 629-5304
2611 Riverside Dr
Bassett, VA
 
Nationwide Insurance Company
(276) 647-3666
Collinsville Shoppin
Collinsville, VA
 
Larry Roach & Associates Insurance Services Inc
(276) 629-7283
46 Floyd Henley Road
Fieldale, VA
 
Auto Insurance Agency
(276) 638-6193
312 Starling Avenue
Martinsville, VA
 
Burch Hodges-Stone Inc
(276) 632-2161
231 East Church Street Suite 3
Martinsville, VA
 

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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