Insuring a Car: Owning vs. Leasing
Insuring a car can protect you from catastrophic financial loss. In most cases, there is no differenceinsuring a car when owning or leasing. It has no impact on your rate.
Your insurance company will factor in several different considerations when calculating your premium. First, they will look at your driving record. If you have multiple driving infractions or a history of collisions, your rates will be higher.
Second, your credit score can affect your rates when insuring a car. Drivers with excellent credit have a tendency to be more responsible drivers. Drivers with poor credit can have higher incidences of insurance fraud. A driver facing repossession due to missed payments may torch a vehicle out of desperation so that they can collect an insurance check. If not outright fraud, they may be less likely to take normal preventative measures to protect their investment. For example, they may leave the car running