Hi Guys,
When one leases a car say for eg 10K miles. Do you have to report that as your estimated mileage when shopping for auto insurance or can i report a lower number? I am considering a 10K lease but given my driving habits will probably be ~ 8.5-9K.
Thanks,
They usually do not check. You can put whatever miles you want unless you are enrolled in one of those small devices that track your driving in order to save.
Your insurance will ask about current mileage before renewal. Besides, you get discount for 7.5K or less, so will not help you with 8.5-9K.
The insurance companies aren’t going to go out and check your odometer, but if you’re in an accident, then I’d imagine they might have a real reason to deny the claim if you say you’re driving less than actual mileage.
I don’t think it’s fraud, but you may be skating on thin ice.