More people are leasing vehicles. This is because it can make a vehicle that may not normally be affordable something that a person can get their hands on. When leasing a vehicle, the costs are quite a bit lower than they would be if you bought the same vehicle. When leasing, the person with the vehicle is only responsible for the depreciation or value lost in the vehicle. They are not responsible for the value of the entire vehicle.
Leasing a vehicle has its pros and cons. There are additional steps that need to be taken if you ever get involved in a car accident with a leased vehicle. It’s not a complicated process. For the most part, the process of filing a claim is the same if you owned the vehicle. It is, however, important to know the differences between an insurance claim with an owned vehicle or if you’ve been involved in a car accident with a leased vehicle. Hiring the services of a personal injury lawyer in Burlington is important.
Right After the Accident
The steps you take immediately after an accident with a leased vehicle are the same as if you owned the car. Make sure you’re okay and that your own safety is secured. Then you can check on anyone else who was involved. If necessary, call the proper authorities. Get medical attention if required.
Depending on the severity of the accident, police become essential when making an insurance claim since they’re the one that document the scene. If you need to pursue legal action and have to prove the nature of the accident, it will be the official police report that will get looked at and used as evidence. For yourself, make sure you take pictures so you have a record of the accident. Pictures should include the positioning of the vehicles and any spots where you notice damage.
The main difference between filing a claim for a used vehicle versus a leased one is how the accident gets reported. With an owned vehicle, you report the accident to your insurance company. If the vehicle is leased, you report the accident to the leasing agency or dealership.
With most contracts, there are special rules about repairs of leased vehicles. The leasing agency or dealership has an interest in keeping the vehicle in the best shape possible so it’s common for leasing contracts to have a clause that the repairs need to be made with manufacturer approved parts. If these stipulations aren’t followed, there could be serious financial penalties.
The Claim Process
If you’re not at fault for a car accident in a leased vehicle, the claim process is usually the same as it would have been if you owned the car. You file with the other driver’s insurance company for coverage. If the other driver’s insurance company refuses to cover damages, you can take legal action against them. You may find that the process of recovering costs may be faster with your own insurance.You’ll always have insurance when driving a leased vehicle. Most leasing contracts will have collision and liability insurance which you can get through the contract or on your own. Leasing contracts will require you to have some sort of insurance.