Insurance can be very confusing and costs can vary greatly from situation to situation and company to company. We do not pretend to understand the regulations of the insurance industry but here are some best practices as shared by our missionaries.
Insuring a leased vehicle is a VERY common thing. Explain that:
1. You need to insure a leased vehicle.
2. You need coverage in the amounts of:
property damage = $100,000 per accident and damage, personal injury or death = $250,000 per person $500,000 per accident
3. You may choose any deductables you feel comfortable with.
4. You are leasing the vehicle from Missionary Motors, Inc. and need to have us listed as the leaseholder/leinholder (address for notification is on the lease).
These insurance levels are high on purpose to provide both us and our missionaries the most protection in the event of an accident. Most insurance companies require six month policy terms but refund any premiums leftover once terminated.
Our missionaries select Geico and Progressive the most but we are not recommending them, as any insurance company is fine with us.
Please leave at least a week from purchasing your policy for us to receive the confirmation from your insurance company.
