Excess Wear and Tear Coverage

[ekbaazigar]

I was offered a 5000$ max. excess wear and tear insurance for the 3 yr lease on my LEAF. Is it recommended buy? and is 900 the right price ? What is the general experience ?

It says it covers - Tires, Paint, Ext. dents and dings, windshield and glass, headlights, tail lamps, light bulbs, bumpers, step bumpers, surrounding trim, wheels and wheel covers, factory audio equipment, upholstery and interior, carpets, rubber door seals, mirrors, name plate badges and hood ornaments, door handles, moldings, trim, metal, chrome, belt and hoses.

Please advice.

 

[mwalsh]

I was offered a 5000$ max. excess wear and tear insurance for the 3 yr lease on my LEAF. Is it recommended buy? and is 900 the right price ? What is the general experience ?

It says it covers - Tires, Paint, Ext. dents and dings, windshield and glass, headlights, tail lamps, light bulbs, bumpers, step bumpers, surrounding trim, wheels and wheel covers, factory audio equipment, upholstery and interior, carpets, rubber door seals, mirrors, name plate badges and hood ornaments, door handles, moldings, trim, metal, chrome, belt and hoses.

Please advice.

Guess it depends on how you treat your car and how rough they are with you on "normal" wear and tear when you return it.

My car is still fairly close to immaculate after 2 years. Though I did just spend $300 to have some dents taken out via paintless dent removal, and have a couple of other defects that I would probably have fixed too, if I knew I was going to get dinged for them when I returned it.

 

[smkettner]

$900? pass

Do people commonly pay in excess of $1,000 in wear items at end of lease?

 

[mwalsh]

Oh, I don't know about $900. Thinking about how hard Mrs. W and her daughter (and her daughter's one driving kid) are on their cars. I would make absolutely sure I took that coverage for them. But for myself...no, it's too much.

 

[planet4ever]

In my opinion, full coverage insurance is always sucker bait. The actuaries know a lot more than you do about how much they are going to pay out, and they make sure to price it so they won't lose money. If you are going to get insurance, get it with the largest deductible you can afford to pay. That's the proper role for it, to cover what would destroy you financially.

Ray