The attractions of leasing cars and vans instead of owning them are clear – no responsibility for expensive repairs, no worries about resale value and the ability to change your vehicle every few years with no hassle.

What seems to be less well understood, based on some recent conversations I have had, are the insurance requirements for lease vehicles.

Leases don’t include insurance! Unless the company you are leasing from has offered to provide insurance, your lease vehicle won’t be insured and it will be your responsibility to get it insured, just as with any car or van you own yourself.

You should check whether there are any specific insurance cover requirements with your lease company, but as a general rule you should expect to have to provide comprehensive cover for any lease vehicles you are responsible for.

When taking out the insurance, you will have to specify that you are not the owner and tell the insurance company whether you are the registered keeper of the vehicle or not. You will probably also need the lease company’s details so the insurance company know who owns your van or car.

If you are an individual or a small company, everything else is probably the same as you will be used to. Most insurance companies cover lease vehicles but always check if unsure and always be honest with the answers to any questions asked by the insurance company.