Auto Insurance And Leasing When renting out a car, it is easier to go with the same company for your auto insurance. What you don't realize, on the other hand, is that you may wind up spending a lot for your insurance coverage and it's better to look in other places for lower rates. Whenever you lease, the car that you will use belongs to the leasing company. They need to make sure that their investment is insured in case the car gets damaged, totalled or stolen. They normally prefer to get insured for the difference between the amount your auto-insurer spends and your outstanding leasing obligations during the time of the accident or damage. It is called GAP, short for Guaranteed Auto Protection, and it is typically included in the leasing agreement. If your leasing company is called BMW Financial Services, Chrysler Financial or any other finance branch of an automaker, then chances are your GAP insurance will be given by the same lease company. You are under no requirement to accept GAP insurance included in your lease agreement. Why would you spend in an insurance premium if you can have the similar coverage for a lesser cost? Invest some time searching by comparing quotations from other insurance companies, including your existing one. Request for deductions that you already are entitled for and polish your coverage appropriately.
Article by Jeff, hope you like this post and here are 2 more that i have just currently read and liked auto insurance and home owners insurance