Car Lease Insurance

Some things you need to know about insurance before you lease

Most auto lease companies require you to maintain insurance coverage as follows:
Liability coverage: $100,000 per person / $300,000 per occurrence
Property liability coverage: $50,000
Comprehensive and collision for actual value with no more than $500 deductible.

In Canada, $1,000,000 in liability coverage is required for car insurance when leasing.

This may be more coverage than you would normally buy, which could mean an additional leasing expense — unless you know how to get better rates. Most people are already paying too much for insurance, before they lease.