Many people when leasing a car prefer to stick with the same company for auto insurance as well. This is more convenient. But what you cannot be sure about is the following - are you paying too much for your coverage? Maybe it will save you much money if you look elsewhere for lower rates.
This is a problematic issue, because when you lease, the vehicle belongs to the leasing company. And it is their right to make sure that their investment is covered properly. They 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.
This is Guaranteed Auto Protection, and it is usually added to the leasing contract.
But you must know and be aware of the fact that you are not obliged to accept GAP insurance included as part of your lease agreement.
You understand that shopping around and finding a company with better premims can save you money, and money is worth the effort.
The only excuse to accepting the GAP is in case they offer some extra discounts or incentives for shopping at the same company where you lease a car. If these discount and/or incentive give you a serious advantage – then go for it!
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