Auto Insurance for Leased Car in Texas
Reader’s Question:
Leasing a car is really a popular trend, and I am thinking of doing that too instead of buying my own in Brownsville, Texas. I wonder if I should get auto insurance for a leased car in Texas just like if you own one?
Nathalie
Brownsville, TX
It’s good that you asked, Nathalie.
And yes, you are right in saying that leasing cars is now becoming a fast trend. Aside from you get to drive a car that you are not even capable of buying, you also get a new car every couple of years. Also, you won’t have to worry about selling or trading it back. Now since you are leasing your car, you will be covered under the manufacturer’s warranty the entire time you have it, without the burden of worry about it expiring on you.
However, even if you’re just leasing a car, you need to remember that you will always be responsible for getting auto insurance policy for it. This means that the amount you’re required to have can also be greater than what auto insurance in Texas require. It can also be more likely that the auto dealer from whom you lease the vehicle might require that you at least have a collision and comprehensive auto insurance coverage. While collision coverage pays for damages to the car from accident with another vehicle or object, the comprehensive coverage will cover the damage that occurs from any other type of accident of theft.
It is best that you verify from the auto insurance laws on Texas if you will be required to have other forms of insurance as well (can be other types like liability and gap insurance). Or you can shop around for leased auto insurance quotes online by typing your zip code on the relevant space on this page.
Good luck!