Being\nin a car accident can be a scary and stressful situation. Dealing with\ninjuries, damage to cars or property, and the other driver can be a lot to handle.\nYou may already be shaken up, angry, and frustrated. These feelings can be\nheightened when driving a leased vehicle. <\/p>\n\n\n\n
Leasing\na vehicle is an excellent alternative to buying. Drivers can lease newer models\nfor less than the cost of buying without worrying about vehicle maintenance or\ncommitting to one car for the next ten or so years. But leasing a car comes\nwith rules. Learn more about what you should do if you are ever in a car\naccident in a leased vehicle. <\/p>\n\n\n\n
What is\na Leased Vehicle?<\/strong><\/p>\n\n\n\n First,\nlet\u2019s explain what a leased vehicle is, so this article makes more sense.\nLeasing a car allows you to \u201crent\u201d a car from a dealership for a certain length\nof time and amount of miles. You make monthly payments and at the end of the\nlease, you either return the vehicle to the dealership or buy out the lease if\nthat is an option. Leases usually have lower monthly payments than a car\nloan. <\/p>\n\n\n\n People\nwho don\u2019t want to own a car, or want to keep trying a new car every few years\nwill usually lease. The lease terms can last anywhere from two to four\nyears. <\/p>\n\n\n\n Car\nAccident in a Leased Vehicle<\/strong><\/p>\n\n\n\n If you\nare ever in a car accident in a leased car, you will follow some of the same\nsteps as if you owned the car. <\/p>\n\n\n\n -Call\nthe police a file a report<\/p>\n\n\n\n -Call\nyour insurance company<\/p>\n\n\n\n -Use\nyour phone to capture relevant photos and videos<\/p>\n\n\n\n -Write\ndown everything. Time of accident, if there are any witnesses, any minor or\nmajor damage, weather conditions, etc. <\/p>\n\n\n\n -Call\nyour lease finance company. <\/p>\n\n\n\n -Exchange\ninformation with the other drivers<\/p>\n\n\n\n Leased\nCar Insurance Claims<\/strong><\/p>\n\n\n\n Initiating\na claim for vehicle damage involves the same process as if you owned your car.\nIn addition to contacting your insurance company and the lease financing\ncompany, you will also contact the other driver\u2019s insurance company and\nnotify them of the car accident. The insurance company will either accept the\nclaim or dispute it. If the claim is accepted, they will direct you to get\nestimates for the repair of the vehicle damage and ultimately authorize you to\nhave your car repaired. The insurance company will usually send the check to\nthe leasing company. <\/p>\n\n\n\n Be sure\nto give the insurance company everything they ask for to make sure the claim\nprocess goes smoothly. <\/p>\n\n\n\n Another\noption is to have your car repaired under the collision coverage of your\ninsurance policy. <\/p>\n\n\n\n