Auto Lease Insurance

Here at GMI Insurance, our Auto Lease Insurance program is built to provide focused protection for leasing companies and financial institutions that lease autos and trucks. We understand the specific exposures that arise in commercial auto leasing, and our coverages are structured to address gaps such as excess liability, physical damage to lessor interests, interim vehicle use, and contingent exposures when a lessee’s coverage is inadequate.

With decades of experience in auto risk and claims management, GMI delivers flexible, reliable solutions. Our carriers, including National Interstate, are experienced in handling leasing risks. We’ve maintained a 90% average client retention over the past five years by offering tailored coverage, responsive service, and underwriting expertise for a wide range of leasing operations.

Ideal Accounts and Appetite

This program is designed for auto dealers, banks, and financial institutions that lease vehicles under agreements of 12 months or longer. We write accounts for both passenger vehicles and commercial trucks without size restrictions. Typical accounts include:

• Independent auto leasing companies
• Fleet leasing operations
• Truck rental and leasing firms
• Financial institutions leasing repossessed or off-lease vehicles

Example: You might have a client that operates a multi-state fleet leasing business seeking stronger protection for off-lease vehicles, or a bank that needs contingent liability coverage if a lessee’s insurance lapses. GMI can help place that business.

Coverage Highlights and Advantages

GMI’s Auto Lease Insurance program includes a broad set of features to protect lessors throughout the lease lifecycle:

• Lessors Contingent Liability – Protects the lessor when a lessee’s liability limits are insufficient or the lessee’s policy is uncollectible.
• Lessors Excess Liability – Provides liability coverage in excess of the lessee’s policy limits.
• Lessors Physical Damage – Covers the lessor’s interest in leased vehicles when collision or comprehensive coverage is not provided by the lessee.
• Interim Car Coverage – Physical damage and liability coverage for off-lease vehicles awaiting resale or re-lease.
• Garage and Property – Facility and business personal property coverage can be included.
• GAP Coverage – Available nationwide for both auto and truck leasing operations.

Underwriting Notes and Minimum Premiums

We underwrite risks with an emphasis on well-managed operations: clear lease documentation, driver vetting, loss control procedures, and vehicle tracking improve placement prospects. Minimum premium and specific terms vary by risk and state; our underwriting team will work with you to structure terms that support long-term client stability.

Territories and Availability

This program is available in all 50 states plus Washington, D.C. Admitted and non-admitted options are available depending on jurisdiction and the account’s profile, enabling support for multi-state leasing operations.

Why Work With GMI Insurance?

As a specialized Managing General Agency, GMI focuses on leasing exposures and commercial auto risk. Our strengths include deep underwriting expertise, access to top-tier carriers like National Interstate, and a service model built for brokers and agents who place complex leasing accounts. Working with GMI gives you a partner experienced in structuring contingent and lessor-owned coverage efficiently.

If you have a client that could benefit from our Auto Lease Insurance program, contact our team to discuss eligibility and next steps. We’re ready to help you place complex leasing accounts with confidence.