Interested in leasing your next car or van but wondering what’s included as part of your lease contract and whether or not insurance is part of the package?
Here at Flexed, we specialise in short-term car leases that include UK road tax, manufacturer warranty, breakdown cover and vehicle maintenance all as part of your lease contract – unfortunately the only thing we can’t offer our leasing customers is insurance.
Just like buying a car or van outright, standard car insurance is not normally included as part of the sale and this also applies to vehicle leasing. Therefore, it’s the customer’s responsibility to ensure that the car or van you lease from us is covered with insurance.
Can you get car insurance included with a car lease?
While we don’t usually include insurance with our lease cars, you can add fully comprehensive insurance cover for your vehicle as standard with all 28-day contracts, known as a car subscription. This means all you’d have to provide is fuel. So how does this work?
The vehicle you lease from Flexed remains the property of the finance provider for however long you drive it, and they are the registered owner and keeper of the vehicle, holding onto the vehicle’s V5C logbook.
When applying for insurance on your lease vehicle, the policyholder must be the same person as named on the lease agreement. However, a partner or spouse can be accepted rather than the named lease agreement holder, or they can be listed as a named driver.
If you’ve opted for a business lease, the policyholder can be either a company director listed with Companies House or the company itself.
The lease agreement holder must be named on the insurance certificate for the policy to be acceptable.
What information will I need to get insurance for my lease car?
When taking out insurance for your lease vehicle, you’ll need to have some information ready to give to the insurance company, such as registration number, make and model details, engine size, vehicle value and date of first registration – we’ll provide this information so that you can insure your lease car or van.
You’ll also be asked who the registered keeper is (finance provider), where the vehicle will be parked at night, what the car or van is to be used for (social, commercial etc.), your average annual mileage and whether you’ve been involved in an accident recently or have any current driving offences that need to be declared.
We advise total honesty when talking to your insurance provider, as not being could backfire on you in the event of a claim and might invalidate your policy or lead to a non-payout.
If you have an existing policy, it might be possible to transfer it over to your lease car or van. They must be informed that the new registration you’re transferring over to is a lease vehicle and that the registered owner and keeper of the vehicle is the finance provider.
Tips for getting lease car insurance
Looking for the right vehicle insurance policy can be a daunting experience – even comparison websites can leave you confused and unsure as to whether you’re choosing the right one. Not all insurance providers appear on comparison websites, so it might be worth contacting a number of insurance companies directly – doing so could result in a cheaper quote.
Make sure your annual mileage is as accurate as possible so you don’t end up paying for more miles than you actually cover.
Of course, some cars are cheaper to insure than others. If you opt for a small hatchback rather than a large luxury SUV, these types of cars are generally cheaper to run and insure, which makes them the ideal choice for young drivers or those looking to lease a car on a budget.
Where your car is parked at night can affect how much your insurance policy might be. Those who park on a driveway or in a garage rather than on the road tend to pay less for their insurance policy.
Ready to drive a brand-new lease car?
At Flexed, we love making it simpler than ever for people to find their perfect car, whether that’s a small runaround or a performance car.
We believe that finding a new car should be easy and it’s why we do most of the work for you, including breakdown cover, road tax, manufacturer warranty and, with our car subscriptions, insurance. All you have to do is browse our huge fleet of vehicles and pick the one you want.
Get in touch today and drive a car you love with Flexed.
