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Automobile Insurance

Required Insurance Coverage for Leased Autos

You will not have much of a choice when it comes to deductibles and liability limits on a leased vehicle. Leasing companies permit certain maximum deductibles and require minimum liability limits on their vehicles. The typical requirements are as follows, but may differ among leasing companies:

Liability coverage. Minimum $100,000/$300,000/$500,000
Collision deductible. Between $250 and $500
Comprehensive deductible. Between $250 and $500

Also, be aware that insurance premiums are your responsibility and are not included in the monthly lease payment. Check your lease agreement for the insurance requirements that apply to you.

Investment and insurance products and services are offered through Osaic Institutions,Inc.

Member FINRA / SIPC. Osaic and Friend Bank are not affiliated. Products and services made available through Osaic are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.