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Car Lease Insurance Owatonna 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
402 Glendale St
Owatonna, MN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Kreutter- Jonathan P
(507) 451-4866
203 S Oak Ave
Owatonna, MN
 
Carroll- Steven E - State Farm Insurance Agent
(507) 455-1660
215 22nd Street Southeast
Owatonna, MN
 
Krohn- Jason
(507) 333-2995
414 Heritage Pl
Faribault, MN
 
Langerud- Anthony P - State Farm Insurance Agent
(507) 334-3351
511 4th Street Northwest
Faribault, MN
 
Allstate Auto Insurance
(888) 355-7971
1414 S Oak Ave Ste 3
Owatonna, MN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Plemel Insurance Agency Inc - State Farm Insurance Agent
(507) 451-4619
920 Hoffman Drive
Owatonna, MN
 
Gmi/Ritter Insurance Asso
(507) 455-0161
301 S Oak Ave
Owatonna, MN
 
Borchert- Dale D
(507) 583-7747
136 3rd Ave NE
Blooming Prairie, MN
 
Butler- Gloria A - State Farm Insurance Agent
(507) 835-8301
215 2nd Avenue Northeast
Waseca, 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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