Insurance: Generally you are responsible for providing insurance. Lease agreements typically require that you maintain vehicle collision and comprehensive insurance as well as liability insurance for bodily injury and property damage. You may be required to carry higher levels of insurance in a lease than the minimum required if you buy the vehicle. Ask the lessor what happens in the event your vehicle is stolen or totaled and the amount you owe is greater than the amount covered by your insurance--a difference often referred to as the "gap."