Prior to processing your Lease Assumption
paperwork, GMAC must be able to confirm the vehicle is insured with the
minimum limits shown below. You must keep this coverage on the
vehicle for the term of the lease.
|
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Coverage
Requirements |
Passenger Car/Light Duty Truck |
|
Trucks of 10,000 lbs. GVW or More |
|
| Liability: |
$100,000/300,000 Bodily
Injury |
|
Combined single limit of $1,000,000
($5,000,000 in CT, GA, PA, RI and VT)
for bodily injuries and property damage
for any one accident |
|
|
|
|
$50,000 Property Damage
(minimum) |
|
|
or $300,000 Combined Single
Limit |
|
|
|
|
|
Comprehensive/
Collision: |
$500 Deductible (Maximum) |
|
$1,000 Deductible (Maximum) |
|
|
|
|
|
GMAC must be named as "Additional Insured"
and "Loss Payee"
as V.A.U.L.Trust & GMAC
|
|
|
You will also need to provide the following information concerning your
policy:
- Named Insured
- Insurance Company
- Policy #
- Policy Effective Date
- Policy Expiration Date
- Agent's Name and Phone Number
|
