Insurance requirement to lease BMW

Does anyone know the the collision and comprehensive deductible requirements to lease a BMW in NY? I was trying to increase those deductibles to 2K to lower the price of the policy but I was told by the insurance company that bmw financial would require it to be a maximum of 1K deductible. Is this true?

What does your lease contract say?

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Don’t have any lease contract at the moment, just shopping around for auto quotes right now.

Max deductible is 1k per lease agreement

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As of a few years ago it was def max of $1000 comp and collision, I doubt it has changed.

Could probably go through the signed or shared deals section on here and do a search for a contract that would have the exact language.


It is max of $1000

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As others have mentioned, the insurance deductible is $1k and listed as such in BMWFS’ boilerplate lease language. I think I provided a snippet of a contract awhile back.


Yeah I think I saw another forum from 2 years ago saying it is 1K so definitely seems so. I think I also saw something about liability coverage and it needing to be 100k/300k but not too sure about that.

So you haven’t signed anything yet? What’s the deal you’re considering?

Correct, have not signed anything yet. Deal im considering is on a 330i xdrive, 6% off msrp and $2000 incentives. Heres the calc: CALCULATOR | LEASEHACKR.

What’s the difference between $1k to $2k in terms of premium? I know in California there was like ~$10 per month difference for our policy.

im in NYC and for me the difference was $40 a month between the 1K and 2K. Also I went through the ‘Signed’ and found some verbiage in a contract for an M340 - 100K/300K for bodily injury, 50K property, and 1K deductible. I wonder if this is vehicle/region specific or minimum across all models.

I have 2500 deductible for years over several vehicles with no issue.

Depends on the vehicle, if there is a max deductible and you don’t have that, the leasing bank will take out their own policy then bill you. BMFS is 1k

Not sure why you’re considering this deal + expensive insurance = sounds like terribly high TCO.

100/300 liability is also standard I believe with most brands for lease, why don’t you ask your dealer/broker ?

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I always had $2500 deductible on my all cars including 2023 M4. If your dealer requires you to have $1000 deductible just get $1000 deductible once you have car in possession change the amount with your insurance company

Oh yes and get sued for contract breach. Just great advice

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They dont sue, they just bill you

I tried to raise the collision deductible on one of our vehicles recently (not a lease), and was told that $1,000 is the max that the Ohio Department of Insurance allows for this type of coverage.