Car Insurance: How does insurance work for a leased vehicle?

When leasing a car, keep in mind that you are also responsible for the insurance of your vehicle. Even though the car dealership technically owns the vehicle, as part of your lease agreement, you are required to maintain insurance coverage throughout the duration of your lease to ensure that you are insured in the unlikely event of an accident. Shop around to find the best coverage available in Ontario for your vehicle and driving usage.

Your dealership will likely require a copy of your insurance policy and will also likely be in contact prior to your insurance renewal date to ensure that your coverage remains active. Most car leasing dealers require certain specifications, and you can request that your car leasing agent speak directly to your insurance broker to be sure that your policy meets all the requirements. Somerville National Leasing and Rentals Ltd. has a dedicated insurance department to help monitor your coverage and be sure that your policy remains active and adheres to industry standards, for your safety and peace of mind.

In Ontario, car insurance is a competitive industry, so speak with your insurance broker to be certain that you are getting a great rate for your coverage. Shop around until you are perfectly satisfied with the option for your vehicle. Be sure to stay in communication with your car leasing dealer should you change your coverage to be certain that any changes in your policy can be implemented smoothly.