Namaste to my Telugu NRI community reading this article. You are seeking knowledge on a path that is valuable to your present and future as you walk on the international stage and make the United States your home away from home. Cars have been a vital part of Indian culture from time out of mind. There was a period of time when owning a car became a status symbol, but, as our understanding of the world deepens, we have learned that cars are not merely a vehicle to our destination. They transport us into the world at our whim. It is your driver in America, which is vital to truly experience this great country. That is why leasing is so important; it affords drivers the opportunity to drive the car of their dreams. After all, who wouldn’t want to experience the lifestyle represented by the iconic Mustang?
Mazda is an increasingly popular choice among the Telugu diaspora. With its focus on the driving experience, rather than flashy gadgets and accessories, you will find some of the best quality cars in America – right when they hit the showroom! Having the latest features may be important to Americans. When you lease your car, you don’t just get the latest model. You are equipped with the option to add a year or two to the term, meaning you will always be ahead of the curve on Mazda’s latest offerings. You may wonder – what car insurance will I need for my Mazda? Well, if you’re leasing, and working for a reputable company, you will be dealing with a very specific set of recommendations.
Understanding Insurance Requirements
Most vehicle leases require insurance coverage that exceeds the minimums recommended for purchase. This means that, when renting a Mazda, you will most likely be carrying insurance for your Mazda lease – or any other vehicle associated with your contract.
Known as “full coverage” or “comprehensive”, lease insurance is commonly confused by the Telugu community because of its close resemblance to full insurance for cars that will be purchased in the future. However, this is not the case; comprehensive insurance fills the gap between your Mazda recommendation and more basic policies in your policy package. Your NRI status does not even grant you any exemption when signing a lease agreement, meaning the recommendations remain the same.
The business of auto leasing exists primarily to account for several factors, including high insurance costs. The simplest way to manage this risk is to insist on comprehensive coverage, meaning no road accidents or situations will prevent you from driving your Mazda when you need to.
Reasons for Higher Insurance Costs
As a simple analogy, an individual buying a car will derive most value by having only the car themselves. Leasing a car is like leasing an apartment – you get access to something that belongs to someone else in exchange for a set fee. As such, companies renting out Mazdas will often sell your details to third-party leasing services. These then manage insurance claims for the vehicle, charging significantly more for basic services like inspections and repairs.
Hiring an independent inspector means you are assured Mazda will cover the costs following an incident. The higher insurance costs are passed straight to a third party, meaning you do not miss a single day on the road; you are not financially penalized for incidents outside your control. Similarly, the inspector will always identify the cause of a problem, giving accountability to the correct party. This provides more peace of mind and you won’t risk losing money thanks to mechanical issues.
Other Considerations
Whether leasing or buying, a major consideration is who causes the damage and how they are paid for. If you or one of the people you share a vehicle with leaves the sunroof of your Mazda open during a thunderstorm, Mazda recommend that you file a claim. However, Nissan may ask you to pay for the damage yourself, since you were responsible for making sure the sunroof was closed. Many Telugu families have a large number of regular car users in their family household when based in the USA.
By examining insurance requirements for lease cars, Telugu families will be able to maximize the benefits of office use as well. It’s unlikely that you will be punished for exceeding the mileage outlined in your contract, but you could still be penalized by paying for the cost of repairs that would otherwise be covered by Mazda as a manufacturer.
