Matthew Mincone | May 29, 2025 | Car Accident
Many people lease vehicles in Florida. A lease agreement avoids a long-term commitment of ownership and allows a person to have a new car every few years. However, the person leasing the car does not own the vehicle. Therefore, it can be complicated if a leased car is totaled in Tampa, FL.
You Must Have the Required Insurance Coverage
Florida drivers are required to purchase minimum insurance coverage. Even if you lease your vehicle, you must have a minimum of:
- $10,000 in personal injury protection (PIP) coverage
- $10,000 in property damage coverage
Personal Injury Protection pays for medical bills and lost wages if you are involved in a car accident, regardless of who caused the crash. Your property damage coverage pays for the damage to another person’s vehicle or property. Neither of these policies covers damage to your leased vehicle.
Leasing and Insurance
Florida does not require you to purchase other types of insurance coverage. However, the leasing company may require you to pay for insurance coverage to protect the leased vehicle. The terms of the insurance coverage would likely equal the value of the vehicle to protect the leasing company if the vehicle is damaged or totaled in a car accident.
You may also want to purchase additional insurance coverage to ensure you will not be required to pay any money out of pocket for a totaled lease vehicle. Your insurance agent can help you decide the types of insurance coverage you need and want to give you the security you need.
What Should I Do After an Accident in a Leased Vehicle in Tampa, FL?
If you’re involved in a car accident, call 911 right away and wait for the police to arrive. Provide them with the facts without speculating on fault. Document the scene by taking photos and videos, as these could help support your claim. See your doctor promptly to document any injuries, as the other party may be liable for damages if they caused the accident. Lastly, notify the leasing company about the accident, as they may have a preferred repair shop for the vehicle assessment.
Who Pays for a Leased Vehicle Totaled in a Car Accident in Florida?
Under Florida law, a vehicle may be a total loss when the cost to repair the vehicle exceeds the fair market value of the car. The vehicle may also be totaled if the insurance company agrees to pay an amount equal to the value of the vehicle.
Collision Insurance Coverage
Generally, the lease agreement requires you to maintain collision insurance for the leased vehicle. Collision insurance pays the lease company for the vehicle even if you cause a car accident.
You are responsible for paying the deductible you chose when you purchased the collision insurance policy. If you do not have collision insurance, you would be responsible for paying the leasing company for the entire value of the totaled vehicle.
Your Costs for the Lease Payments
Even though the car is totaled, you signed a lease agreement stating you would make payments each month to the leasing company. You continue to be responsible for the lease payments after the vehicle is totaled. The leasing company expects you to pay the lease payments for the remainder of the lease period.
The At-Fault Driver
If the other driver caused the car accident, you can file a claim with the driver’s Property Damage Liability insurance provider. If the driver had minimum coverage, the insurance company could be liable for up to $10,000 of the value of the vehicle. Filing a claim could help reimburse you for the out-of-pocket expenses you paid because of the leased vehicle.
Seeking Legal Advice for a Property Damage Claim for a Leased Vehicle
Property damage claims for leased vehicles can be incredibly complicated. Several insurance companies and parties may be involved with the claim. Protecting your rights is essential. A Tampa car accident attorney can review your case and advise you of your rights. An attorney can help you fight to obtain compensation for damages and harm caused by another driver.
Contact the Tampa Car Accident Lawyers at Mincone Personal Injury Lawyers for Help Today
If you’ve been injured in an accident in Tampa, FL, contact our skilled car accident lawyers at Mincone Personal Injury Lawyers to schedule a free consultation.
We proudly serve Hillsborough County and its surrounding areas:
Mincone Personal Injury Lawyers
1925 E 6th Ave Ste 10
Tampa, FL 33605
(813) 800-0810
Our firm is located near you. We have an office in Tampa
Find us with our GeoCoordinates: 27.9593512,-82.4369179
About The Author
Attorney Matthew Mincone is the founder of Mincone Personal Injury Lawyers. He earned his law degree while attending night programs in New York and is licensed to practice in Florida. With over 15 years of legal experience, Matthew focuses on personal injury cases, including motor vehicle accidents involving cars, commercial trucks, and motorcycles. His commitment to personally handling each case ensures clients receive dedicated representation. Click here to view some of the remarkable case results that Matthew has successfully achieved.
Location: Tampa, FL