[Misc] lease cars - minor damage insurance

[Normal Rob]

Hiya,

for the first time i'm leasing a car for a 3 year period. I fully expect that the leasing company will sting me thoroughly for any dints/scratches/chips etc when i hand it back so i'm considering taking out a minor damage insurance policy. has anyone done this, and if so could you answer a question that I have...

Is it possible to just take out the insurance in the final year, and get all work needed done then, or does the insurance company require the vehicle to be checked prior to accepting to ensure that any pre-existing damage is exempted from the policy?
I.e. should i take out a 3 year policy now? or a one year policy in the final year?

it just seems a little too simple to get all the work needed done through insurance shortly before returning the vehicle...

TIA.

 

[studio150]

I would expect that the cover can only be taken out from delivery (or within a short period) of the vehicle.

I can't see any Insurer picking up pre existing damage.

 

[Guinness Boy]

You can't claim for any incident that occurred before the policy start date so no pre-existing scratches etc are covered. You can get 36 month cover. Few options out there if you Google.

 

[timbha]

Have you thought of self insuring and then getting the minor repairs done at the end of 3 years, or not as the case may be?

 

[Normal Rob]

Have you thought of self insuring and then getting the minor repairs done at the end of 3 years, or not as the case may be?

yes, and i may take the gamble. Currently 3 year cover is coming in at almost £450

 

[scooter1]

Most leasing companies will try and sell you GAP insurance which is supposed to cover minor damage based on what the value of the car would be without the damage. You can buy GAP insurance privately for about 10% of the cost, this might be the thing to investigate

 

[Paulie Gualtieri]

Most leasing companies will try and sell you GAP insurance which is supposed to cover minor damage based on what the value of the car would be without the damage. You can buy GAP insurance privately for about 10% of the cost, this might be the thing to investigate

I purchased gap alerts let for essentially write off and theft vs the depreciation for 1% of the vehicle value for the term of my lease


Sent from my iPhone using Tapatalk