[Misc] lease cars - minor damage insurance

Normal Rob

Well-known member

Jul 8, 2003

5,668

Somerset

• Aug 11, 2022

• #1

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

Well-known member

Jul 30, 2011

29,685

On the Border

• Aug 11, 2022

• #2

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

Tofu eating wokerati

Helpful Moderator

NSC Patron

Jul 23, 2003

34,397

Up and Coming Sunny Portslade

• Aug 11, 2022

• #3

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.

 

T

timbha

Well-known member

Jul 5, 2003

9,972

Sussex

• Aug 11, 2022

• #4

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

Well-known member

Jul 8, 2003

5,668

Somerset

• Aug 11, 2022

• Thread starter
• #5

timbha said:

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?

Click to expand...

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

 

S

scooter1

How soon is now?

Sep 12, 2006

4,746

Past the Leisure Centre, left at the lights

• Aug 11, 2022

• #6

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

Bada Bing

NSC Patron

May 8, 2018

9,379

• Aug 11, 2022

• #7

scooter1 said:

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

Click to expand...

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


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