Leased Vehicles And Automotive Insurance

For example, if your leased vehicle is involved in an accident that is your fault and involves another party, you’re responsible for paying to repair not only the damages to your leased vehicle, but the damages to the other party’s vehicle, as well. At the same time, if your leased vehicle is involved in an accident but no other party is involved, you’re responsible for repairs to your leased vehicle if the accident was your fault.

Too, your leased vehicle may be involved in an accident that wasn’t your fault with a party that doesn’t have automotive insurance. By having automotive insurance for your leased vehicle, you are safeguarding yourself against drivers who don’t have automotive insurance.

The purpose of automotive insurance is universal. Regardless of whether you buy or lease your vehicle, and regardless of your reasons for buying or leasing, you must still purchase automotive insurance.

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