When leasing a car, it is easier to patronize the
same company for your auto insurance.
On the other hand, you may end up paying
so much for your coverage which makes it
better to look elsewhere for lower rates.
It is important to know that the leased vehicle
that you will drive belongs to the leasing
For Guaranteed Auto Protection (GAP), the
auto leasing want to ensure that their
investment is covered in the event the vehicle
gets damaged or stolen.
They typically want to get covered for the
difference between what your auto-insurer pays
and your outstanding leasing obligations at the
time of the accident or damage which is usually
included in the leasing contract.
If your leasing company is called BMW Financial
Services, Chrysler Financial or any other finance
division of an automaker, then chances are your
GAP insurance will be offered by the same auto
You are under no obligation to accept GAP
insurance included as part of your lease
agreement. Why pay an insurance premium if
you could get the same coverage for a lower
Invest some time shopping by comparing
quotes from other insurance companies,
including your existing one. Ask for discounts
that you already qualify for and adjust your