Automobile Insurance

Required Insurance Coverage for Leased Autos

You will not have much of a choice when it comes to deductibles and liability limits on a leased vehicle. Leasing companies permit certain maximum deductibles and require minimum liability limits on their vehicles. The typical requirements are as follows, but may differ among leasing companies:

  • Liability coverage. Minimum $100,000/$300,000/$500,000
  • Collision deductible. Between $250 and $500
  • Comprehensive deductible. Between $250 and $500

Also, be aware that insurance premiums are your responsibility and are not included in the monthly lease payment. Check your lease agreement for the insurance requirements that apply to you.

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Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC. Insurance products are offered through LPL or its licensed affiliates. Premier America Credit Union and Premier America Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier America Investment & Retirement Services, and may also be employees of Premier America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Premier America Credit Union or Premier America Investment & Retirement Services. CA Insurance License #0759204, TX Insurance License#1643255.

Securities and insurance offered through LPL or its affiliates are:

Not Insured by NCUA or Any Other Government Agency Not Credit Union Guarantee Not Credit Union Deposits or Obligations May Lose Value

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