Are you considering leasing a car and wondering: Do you have to pay insurance for leasing? The short answer is: Yes, absolutely! Just like buying a car, insurance is absolutely mandatory when leasing.
Graphic indicating mandatory car leasing insurance
Insurance When Leasing: A Must, Not an Option
Whether it’s Volkswagen GTI Leasing, Alfa Romeo Leasing Privat, or another model – no leased vehicle leaves the lot without insurance. This is because while you as the lessee use the vehicle, the lessor remains the owner. And they naturally want to ensure their property is adequately protected at all times.
“You can think of it like a rental apartment,” explains car expert Stefan Berger. “Here too, you take out liability insurance to cover damages to the landlord’s property.”
Which Insurances Are Mandatory for Leasing?
In Germany, the law mandates at least Compulsory Third-Party Liability Insurance for every vehicle participating in road traffic. This covers damages that you cause to others with your leased vehicle.
Illustration showing different types of car leasing insurance
In addition to liability insurance, lessors typically require further insurance types to minimize their risk. These include:
- Comprehensive Insurance: Covers damages to the leased vehicle that you cause yourself, e.g., due to an accident.
- Partial Comprehensive Insurance: Applies to damages caused by theft, fire, glass breakage, natural disasters, or accidents involving wild animals.
Leasing Vehicle Insurance: Don’t Underestimate the Cost Factor
The cost of leasing insurance depends on various factors, such as the vehicle model, vehicle value, your age, your driving experience, and your place of residence. Therefore, inform yourself thoroughly about the costs involved beforehand and compare offers from different insurance providers.
Image illustrating the costs associated with car leasing insurance
Leasing Insurance: Tips for Your Policy
- Pay attention to the deductible: A high deductible lowers monthly premiums but can lead to high costs in case of damage.
- Compare the coverage: Not every insurance policy offers the same coverage. Compare the offers carefully and pay attention to important points such as the coverage amount.
- Inquire about special conditions: Some insurance providers offer special rates for leased vehicles.
Leasing Insurance: More Questions?
Do you have more questions about leasing insurance? Here you will find further information and helpful tips. Our car experts are also happy to assist you personally with advice and support. Simply contact us via our website – we are here for you around the clock!
