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Navigating Auto Insurance for a Leased Vehicle
Navigating auto insurance for a leased vehicle can be more complicated than insuring a vehicle you own outright. Most leasing companies have strict insurance requirements, meaning you may need more coverage than you originally anticipated. Our reputable agents at Commerce Insurance Agency in Commerce, GA can help you build a personalized auto insurance policy that fits your unique needs.
Understanding Lease Requirements
Leasing requirements can vary depending on the individual leasing company. However, insurance requirements for leased vehicles may include additional coverages, such as comprehensive and collision coverage. Guaranteed Asset Protection (GAP) insurance is also a common requirement for leased vehicles. It covers the difference between your vehicle’s worth and what you still owe.
Determine Coverage Needs
When comparing auto policies, consider different coverage levels, such as:
- Liability coverage
- Comprehensive and collision coverage
- Uninsured/underinsured motorist coverage
One of our experienced agents can help you determine what levels of coverage are right for you.
Compare Auto Insurance Policies
Not every auto policy is right for every driver. Review key features, such as coverage limits, deductibles, and similar components, to determine which is best suited for your needs. Ask your agent about potential approaches to help reduce insurance costs, such as bundling policies or safe driver discounts.
Review and Adjust Your Policy Regularly
Over time, your auto coverage needs may change. Periodically review your insurance policy to ensure that it continues to meet your personal needs and lease requirements. Changes in your lease or certain personal circumstances may require you to adjust your coverage.
Please speak With One Of Our Trusted Agents
Securing the right auto insurance for a leased vehicle can help you meet your lease requirements and ensure you have the necessary protection. For help navigating auto insurance, contact Commerce Insurance Agency in Commerce, GA.
