Are minimum insurance requirements different from a leased vrs a bought car?

Question:
as far as the dealer letting you take it off the floor?

Answers:

Good Florida car accident lawyers?

There is no difference in a lease vs. financed vehicle. You only have to satisfy the state required minimum limits coverage per the state. You will need to carry comprehensive and collision coverage. It's always best to buy the most coverage you can afford.

---

buying a car in northern ireland?

Leasing generaly requires a high limit for the accidents. I think it varies by state. financing the car usually is about the same
My lease insurance is:
Bodily Injury 100k per person/300k per accident
Property damage is 100k each accident
Uninsured motorist is 100k per person/300k per accident
Underinsured motorist is 100k per person/300k per accident.

Insurance Letter?

Those amounts are the minimum allowed by my state on a lease, NE.

---

vanity plates?

depends on if the "bought car" is actually paid in full. if the "bought car" has a loan on it then the insurance would most likely be the same.

---

How can I transfer insurance to another car?

lease companies want to make sure they get their car back, concider "gap" insurance. it's different and extra than regular insurance. my friend bought a new car and a month later, totalled it. rather than getting a check for the depreciated value, she got a new car. when she turned in the car 2 years later, imagine how much happier the lease company was. but, as long as you have "full" coverage, there shouldn't be a difference.

---

Which is a good insurance company in MI?

I think you have to carry more liability on a leased car because the leasing company actually still owns the car, so they could probably be held liable if you run over somebody.

when my car gets repossessed can i get sued by the finance company under Texas law?

If you're the only owner of the car, it's up to you if you only want to carry the state minimums, because you're the only person who's going to get sued.

---

More Questions & Answers ...

What happens if you get caught driving without a licence or insurance twice?

registered vehicles in prentiss co. ms.?

What is the GPA you need for a Student Discount in Allstate?

car accident liabilty?

how much is insurance for a big rig?

Just bought a used car..?

has any one ever got a car or truck stolen?

Auto insurance quotes?

im buying a car with private plates..the owner wants to keep the plates.....who has to re-plate it?? and at?

Can I get my license in California when I'm 17 1/2?

This article contents is post by this website user, CarQnA.com doesn't promise its accuracy.