Online Auto Insurance Quote Canada

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Auto Insurance and Leasing

When leasing a car, it’s easier to stick with similar company for your auto insurance. What you don’t know, however,

is that you might end up paying too much for your coverage and it’s better to look elsewhere for lower rates.

When you lease, the vehicle that you will drive belongs to the leasing company. They want to make sure that their investment

is covered in the event the vehicle gets damaged, totaled or stolen. They typically want to get covered for the difference

between what your auto-insurer pays and your outstanding leasing obligations during the time of the accident or damage. This is

called GAP, short for Guaranteed Auto Protection, and is usually contained 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 lease company.

You are not obliged to accept GAP insurance included as part of your lease agreement. Why pay an insurance premium

if you have access to the same coverage for a lower price? 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 coverage accordingly.

Looking for insurance quotes in Canada? Click Here