Insurance On A Car Lease. Your normal car insurance covers the current value of the car, while the gap insurance covers you for the remaining payment costs on your lease contract. For instance, you’ll get a cheaper rate if you rent a car for 48 months and drive it 10,000 miles a month than if you rent one for 24 months and drive it 18,000 miles a month.
This number is the maximum number of miles you can drive in the. Gap insurance helps pay off your auto loan if you're under water on the loan and the car you're leasing is totaled. You might already know that a leased car is titled in the name of its owner.