Find out what to know about choosing auto insurance for leased vehicles.
It’s time to get a new car, and after much deliberation, you’ve decided to lease your new vehicle. It’s an exciting time in your life. However, when leasing a car, it’s important to think about protecting your vehicle. It’s important to drive safely, but it’s also important to invest in the right auto insurance in Lombard. As you lease your vehicle, be wary of your coverage. Check out what you need to know about purchasing the right car insurance for your new vehicle.
Accidents happen, but they’re not cheap. Under state law, you’re required to purchase the minimum amount of liability insurance. Liability insurance gives you the protection that you need to repair any damages that you cause to other parties involved in an accident. That way you have the financial resource to cover property damage and medical expenses.
Collision & Comprehensive Coverage.
When you purchase liability coverage, you have the minimum coverage that helps to cover damage to other parties involved in an accident. You’re on your own to fix your own vehicle. However, if you increase your coverage to a collision policy, you’ll have coverage for any damage to your vehicle that’s caused in an accident. Keep in mind, however, that it only gives coverage for accidents. If it hails or if a tree falls on your car, you’re on your own. However, if you invest in comprehensive coverage, you have the right policy to cover damages caused by anything non-traffic related.
When leasing a car, you owe money on it. If it were to get totaled in an accident, you’re responsible for paying the difference between the insurance payout and the value of the car. Invest in gap coverage so that you have the financial cushion that you need to pay the difference.
When it comes to protecting your leased car, invest in the right auto insurance in Lombard. Contact the professionals at Steve Wilk Insurance Agency for assistance finding the best insurance. Located in Illinois, we serve all your personal and commercial insurance needs.