required insurance coverage
#1
Intermediate
Thread Starter
required insurance coverage
Does anyone kno how much insurance Acura requires you to have on a leased tsx, I want bear minimum coverage, im a 21 year old male. state farm has me at $207 a month
#2
Three Wheelin'
From Acura Financial website:
What are the insurance requirements* for a leased vehicle?
You must maintain insurance coverage for the duration of your lease. Please read your lease agreement carefully. Minimum coverage on a leased vehicle includes: Public liability insurance that either covers up to $100,000 for bodily injuries to any one person, $300,000 for bodily injuries for any one accident, and $50,000 for property damage, or has a combined single limit of $300,000 for bodily injuries and property damage for any one accident; and
Physical damage insurance covering loss or damage to the vehicle, with deductibles of no more than $1,000 for collision and upset loss and $1,000 for comprehensive fire and theft loss.
Honda Lease Trust should be listed as additional insured and loss payee.
*Note: Different insurance requirements are applicable in Florida and Hawaii. Please read your Lease Agreement carefully for required insurance coverage levels.
What are the insurance requirements* for a leased vehicle?
You must maintain insurance coverage for the duration of your lease. Please read your lease agreement carefully. Minimum coverage on a leased vehicle includes: Public liability insurance that either covers up to $100,000 for bodily injuries to any one person, $300,000 for bodily injuries for any one accident, and $50,000 for property damage, or has a combined single limit of $300,000 for bodily injuries and property damage for any one accident; and
Physical damage insurance covering loss or damage to the vehicle, with deductibles of no more than $1,000 for collision and upset loss and $1,000 for comprehensive fire and theft loss.
Honda Lease Trust should be listed as additional insured and loss payee.
*Note: Different insurance requirements are applicable in Florida and Hawaii. Please read your Lease Agreement carefully for required insurance coverage levels.
#5
26yr old single male here and I'm at $99/mo. Then again I don't have any major wrecks or tickets as of late (knock on wood).
I highly recommend Geico.
#6
Racer
Is that what you pay? Or the online quote? The latter is always wrong.
btw. I'm 29 with no tickets (two pending, LOL!) and I pay $94.29/m with Allstate's Gold package which means one freebie with coverage of 100,000/300,000.
btw. I'm 29 with no tickets (two pending, LOL!) and I pay $94.29/m with Allstate's Gold package which means one freebie with coverage of 100,000/300,000.
#7
Word of advice, though. Don't just shop on price. How an insurer deals with claims is pretty important, IMHO. There are review sites out there that cover this. FWIW, I'm on AAA and am fairly satisfied with how they handled my repair.
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#8
Racer
I will second that. My parents and I know that State Farm is a little more expensive than most places (though we do get discounts for insuring 5 cars and the house with them) but when we told them about an accident that was someone else's fault they took care of everything. The service is great.
I think I am at something around $125/month on my TSX, but I'm also younger, the car is older, and insured for significantly more than the state minimums.
And remember, it's all money saved until your insurance carrier stiffs you on a claim...
Last edited by jchan2; 12-09-2010 at 09:46 PM.
#10
a big factor is where you live. i was in arlington paying $350 every 6 months and moved like 5 miles north into NW DC (nice residential neighborhood) and my premiums went up to about $600 every 6 months. no accidents or tickets. kind of crappy but what can you do?
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