Q&A Topics

Thursday, March 27, 2014 12:59:23 PM

What insurance do I need for my leased car?

You must maintain insurance on a leased car just as you do for a car that you own or have financed. Additionally, some dealers may require you to have Guaranteed Auto Protection (also known as GAP insurance). This covers the difference between what the car is worth and how much you owe on the lease, if it’s stolen or destroyed. 

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Laura Adams is a personal finance expert, award-winning author, and consumer advocate. As Senior Insurance Analyst, she represents insuranceQuotes in the media and works to make sure consumers protect their financial futures by having the right kinds of insurance.

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