Leasing a vehicle in Miami is a popular choice for many people due to its low upfront cost and lower monthly payments compared to buying a car outright. However, a common question that arises when leasing a car is whether or not it can be insured. This article will discuss whether you can insure a leased Ford in Miami.
Insuring A Leased Ford In Miami
When leasing a Ford in Miami, you are required to have insurance coverage that meets the minimum requirements set by the state of Florida. The state of Florida requires a minimum of $10,000 in personal injury protection (PIP) and $10,000 in property damage liability (PDL) coverage. However, these minimum requirements may not be enough to cover all damages and injuries in the event of an accident, and it is recommended to carry additional coverage for your protection.
It is important to note that when you lease a Ford, the leasing company may require you to carry additional insurance coverage, such as collision and comprehensive coverage, to protect the vehicle. This is because the leasing company owns the vehicle and wants to ensure that it is protected in the event of an accident, theft, or damage.
Types Of Insurance Coverage For A Leased Ford
When insuring a leased Ford in Miami, there are several types of insurance coverage that you may want to consider:
- Liability Insurance: Liability insurance is the minimum required coverage by the state of Florida and covers damages or injuries that you may cause to others in an accident. This includes both PIP and PDL coverage.
- Collision Insurance: Collision insurance covers damages to your leased Ford if you are involved in an accident. This coverage is important for leased vehicles since the leasing company may require it.
- Comprehensive Insurance: Comprehensive insurance covers damages to your leased Ford that are not caused by an accident, such as theft, vandalism, or weather-related damage.
- Gap Insurance: Gap insurance covers the difference between what you owe on your lease and the actual value of your leased Ford if it is declared a total loss.
- Personal Injury Protection (PIP): PIP insurance covers medical expenses and lost wages for you and your passengers if you are injured in an accident, regardless of who is at fault.
Choosing The Right Insurance Coverage
When choosing insurance coverage for your leased Ford, it is important to consider your individual needs and budget. While the minimum required coverage may be enough to satisfy the leasing company, it may not provide enough protection for you in the event of an accident.
Ultimately, when choosing insurance coverage, it is important to consider your individual needs and budget to ensure that you have adequate protection for your leased Ford.
At Car Leasing Miami, we offer several Ford models. Trust us to provide a stress-free leasing experience from start to finish. To learn more, get in touch with us today at 620 75TH ST, Miami Beach, FL 33141, https://www.vipleasemiami.com/
