Online Auto Insurance Outlines Coverage Specifics for Leased Vehicles

Consumers who go to lease a vehicle may find that they will have more extensive car insurance
requirements than those who own.

Rancho Cucamonga, CA, January 24, 2011 --(PR.com)-- In the latest FAQ published on
OnlineAutoInsurance.com, the writers address the fact that motorists who decide to lease an auto may
need to purchase certain types of insurance that would not be necessary for an owner.

Lessors have an interest in getting their property back in an acceptable condition, and having certain types
of financial protection can help ensure that this happens. Because of this, lessees may be required to carry
higher liability limits, comprehensive and collision coverage, and even uninsured motorist property
damage coverage.

Consumers who are leasing a car or are simply interested in adding comprehensive or collision coverage
to a policy can generate car insurance quotes online to see a range of prices from the top insurers. If the
costs are higher than expected, one option is to re-run a comparison with different deductible levels.
Increasing a deductible often will lower a premium, but it will also raise the amount that a policyholder
will have to pay out of pocket in the event that he or she files a claim.

According to the National Association of Insurance Commissioners' 2008 data, the average cost of
comprehensive policy for that year was $133, and the average for collision was $298. Prices vary, though,
based on crash and theft statistics of a policyholder's geographical area.

Another type of financial protection that has been recommended for lessees is gap coverage. This
“protects you from owing the difference between an insurance settlement and the leasing company's
pay-off figure.”

Source: http://newjersey.gov/lps/ca/ocp/autogide.pdf

To read more about coverage-related issues, readers can go to http://www.onlineautoinsurance.com/

where visitors will find informative resource pages as well as a free-to-use quote-comparison generator
that can help jump-start the search for a quality policy. Those who would like to read the full article about
necessary financial protections when leasing a vehicle can click on the “Questions” link located at the top
of the home page.

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Contact Information:
Online Auto Insurance
Benjamin Zitney
909-784-2475
ben@onlineautoinsurance.com
http://www.onlineautoinsurance.com/

Online Version of Press Release:

You can read the online version of this press release at: http://www.pr.com/press-release/292667

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