Lease 200k / 700k combined not supported

[apememe]

Regarding Lease Insurance Requirements for Lucid Air Pure Base Model

The lease contract for my Lucid Air Pure base model mentions requirement of $100,000 per person and $300,000 per event for bodily injury and $200,000 per event for property damage, or $750,000 combined single limit.

I've contacted GEICO, Progressive, and Liberty Mutual, but couldn't find any insurance that offers $200,000 per event for property damage or $750,000 combined single limit.

I'm in the SF Bay Area and am looking to book my lease soon, but I can't find any insurance provider that satisfies these requirements.

Has anyone encountered a similar issue or found an insurance provider that meets these specific requirements in the Bay Area? Any advice or recommendations would be greatly appreciated!

Thank you in advance!

 

[DreamTour]

I see on my insurance (progessive) the same thing as you, there isn't a way in their default policies to select 250k property damage liability or 750k combined limit through web quotes.

You may have to phone quote it, I'm sure someone would write you a bigger policy (that you would pay for)

I would suggest starting a quote online, getting a quote ID then calling their number and asking for the higher policy limit. Then less to explain to the insurance agent.

 

[tonybot]

Try speaking to a State Farm Agent. They usually can do special quotes that may not available for self service. They have pretty decent rate for Lucid based on my experience. My Lucid was close to what I pay for my 2020 Lexus RX350L. I am based out of Dallas, TX.

Moderator note: referral code removed, referral codes are only allowed in the referral section.

 

[Buffalo Bob]

Regarding Lease Insurance Requirements for Lucid Air Pure Base Model

The lease contract for my Lucid Air Pure base model mentions requirement of $100,000 per person and $300,000 per event for bodily injury and $200,000 per event for property damage, or $750,000 combined single limit.

I've contacted GEICO, Progressive, and Liberty Mutual, but couldn't find any insurance that offers $200,000 per event for property damage or $750,000 combined single limit.

I'm in the SF Bay Area and am looking to book my lease soon, but I can't find any insurance provider that satisfies these requirements.

Has anyone encountered a similar issue or found an insurance provider that meets these specific requirements in the Bay Area? Any advice or recommendations would be greatly appreciated!

Thank you in advance!

Good advice by DreamTour and tonybot. Most companies keep their on-line quotes as simple as possible, but you can pretty easily have one of their representatives customize them.

 

[Steveinarizona]

Most people who lease a Lucid will have an umbrella insurance policy to go along with their regular auto and home policies. These extra liability policies have minimum insurance requirements as well. I would have expected the Lucid lease insurance requirements to be similar. The standard requirement for the umbrella is typically $100K/$300K for both auto and property. I wonder if Lucid had a typo?

 

[fisheral]

Such odd number requirements. Plus the baseline assumption that everyone has their own insurance agent.

Also, I've never had a lease where I had to add some random titling company in NY (despite living in NJ) as insured and then send a physical copy of proof of insurance to them ( but not the actual lessor) via regular mail. Has everyone actually done that?

How many people are really doing a deep dive into the fine print and seeing these unusual requirements? I'd venture to guess that most owners are unknowingly in violation of their lease despite having a standard robust lease insurance policy.