Unfortunately, accidents happen. Sometimes these accidents happen when you’re behind the wheel of a leased vehicle. If you’re wondering what to do if you have an accident in a leased vehicle, keep reading.
The first step to take whenever you are in an accident is to call 911. The sooner emergency personnel are on the scene, the sooner you or anyone involved in the accident can get medical treatment. You will also need a police report when dealing with auto insurance companies.
Next, contact both the leasing company and your insurance company. This is a legal requirement when leasing a vehicle. You usually have within a few days to notify both companies, but doing so as soon as possible is the ideal way to go.
The next steps in this process depend on the facts of the accident. Can the car be repaired or is it a total loss? Additionally, was the accident your fault or someone else’s? Additionally, the type of insurance coverage you have plays a role in what to do next.
In the event that your leased vehicle is totaled in an accident, you should consider your benefit. This is the amount of money paid by the insurance company to the insured when they incur a loss. The benefit can range in amount depending on the factors mentioned previously, as well as if you have total or partial coverage. You should also consider gap insurance if your insurance company doesn’t pay the full cost of the totaled leased car. Many lease contracts actually require gap insurance.
In many ways, you should take the same steps in the event of an accident in a leased car as you should in a purchased car. However, when you get into an accident in a leased car, you have more legal requirements to fulfill.
Knowing what to do in the event of an accident in a leased car can help you be more prepared and less stressed. Now that you know the steps to take, you’re ready to browse the cars for lease we have available at My Maven Autos. To learn more about our lease agreements and to discover our selection, give us a call at 631-MYMAVEN today!