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Car Lease Insurance Forest Lake 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.

Allstate Auto Insurance
(888) 355-7971
13228 Europa Bay N
Hugo, MN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Insurance - Bob Wheaton
(651) 464-7999
20 North Lake Street
Forest Lake, MN
 
American Family Insurance - Roland Sibbald
(651) 464-1130
115 Lake St N
Forest Lake, MN
 
First Service Insurance Agency
(651) 462-4712
26357 Forest Boulevard
Wyoming, MN
 
State Farm Insurance
(651) 257-4372
12815 Lake Boulevard
Lindstrom, MN
 
Carney Insurance
(612) 860-7939
1307 Southeast Bay Drive
Forest Lake, MN
 
Johnson- Bruce L
(651) 464-7227
568 Lake St S
Forest Lake, MN
 
Johnson- Jesse R
(651) 464-2111
843 W Broadway Ave Ste E
Forest Lake, MN
 
John Savageau Ins Agency Inc - State Farm Insurance Agent
(763) 786-3087
9200 Lake Drive
Circle Pines, MN
 
O'malley- Michael S
(651) 257-4372
12815 Lake Blvd
Lindstrom, 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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