© 2010 Brown & Brown of MN, Inc. Mankato
530 West Pleasant Street, Suite 100
Mankato, Minnesota 56001
Phone (507) 388-2010
530 West Pleasant Street, Suite 100
Mankato, Minnesota 56001
Phone (507) 388-2010
Lease Gap Coverage
Private Passenger Automobiles that have not been previously titled and are leased for a period of 12 months or longer may be insured on a specified automobile basis to protect the interest of the leesee. We will apply the Amendment of Limit of Liability - Leased Automobiles to all leased vehicles written in the name of the lessee.
This provides coverage limits in excess of the actual cash value of the leased private passenger automobile. Coverage would apply at the time of a covered theft or total loss when our insured is liable for an amount greater than the actual cash value of the automobile because of the lease agreement.
We recommend policyholders be thoroughly familiar with the terms of their lease before not requesting this coverage.
Private Passenger Automobiles that have not been previously titled and are leased for a period of 12 months or longer may be insured on a specified automobile basis to protect the interest of the leesee. We will apply the Amendment of Limit of Liability - Leased Automobiles to all leased vehicles written in the name of the lessee.
This provides coverage limits in excess of the actual cash value of the leased private passenger automobile. Coverage would apply at the time of a covered theft or total loss when our insured is liable for an amount greater than the actual cash value of the automobile because of the lease agreement.
We recommend policyholders be thoroughly familiar with the terms of their lease before not requesting this coverage.