Free Auto Insurance Quotes Online

Many consumers are looking for low cost auto insurance. Since auto insurance is a basic requirement of owning or leasing a car, and is required in every state in order to maintain legal driving status, auto insurance is something no driver can do without. But how can consumers find the best coverage, especially coverage they can afford? It is important for consumers to educate themselves and to know what kind of coverage they need in their state. Consumers should also be aware of what kind of variables go into calculating auto insurance quotes. The more educated and aware a consumer is, the more likely they are to receive low cost auto insurance quotes.

Changes to car ownership and the kinds of car ownership available to people in the last decade have produced many questions, especially for drivers who are leasing their vehicles or financing them over the long term. Due to the economic climate and value of vehicles, many consumers are choosing either to lease vehicles or finance them over a longer period of time. Either way, certain questions arise concerning the value of the car versus the time remaining on the lease or the financing agreement. Those questions may affect consumers’ auto insurance quotes.

Consumers who lease vehicles are essentially paying for the vehicle for the length of time that they use it. In other words, instead of buying the “entire” car, a person who leases a car is only buying the car for the amount of time indicated in the lease. At the end of the lease, the buyer is often given the option of returning the car to the dealer or purchasing the car outright. Consumers who purchase vehicles often do so these days with longer term financing; this means that the loan on the car is spread out for a longer period of time.

All drivers and vehicles are obligated to carry auto insurance. Coverage requirements vary from state to state. But even for leased vehicles or long term financed vehicles, coverage is required. But, because many of those vehicles end up “upside down” in terms of equity (the car is worth less than the amount left on the lease or finance agreement), more and more insurance companies are offering GAP coverage. GAP coverage protects drivers against having to owe large amounts of money in case the vehicle is destroyed or damaged in an accident.

It is important to find out from an insurance carrier if a leased or financed car can lower your auto insurance quotes. Also be sure to ask about GAP coverage and if it could save you money.