Valley First

Insurance Requirements

If you're leasing a vehicle in either BC or Alberta, there are certain conditions surrounding what type of insurance coverage you'll need for the duration of your lease. Here's a handy overview for your reference.

 

Vehicle - BC

What You'll Need

Insurance Requirements British Columbia Vehicles

All vehicles must retain and maintain throughout the term of the Lease Insurance coverage for each vehicle meeting the following minimum requirements as per the Terms and Conditions of the Lease Agreement.

  • Term of insurance: 1 year
  • First West Leasing Ltd. (Lessor) to be the registered owner
  • Mailing address on insurance to be lessee’s address
  • Minimum $5,000,000 third party liability
  • Maximum $1000 collision deductible
  • Maximum $500 comprehensive deductible
  • Complete replacement cost (if applicable)
  • Original insurance retained for First West Leasing Ltd., copies to lessee
  • Any private insurance documents or garage policy must accompany basic ICBC coverage if applicable

All insurance copies should be sent to:

First West Leasing Ltd.
6470 201 Street
Langley, BC V2Y 2X4

Vehicle - Alberta

What You'll Need

Insurance Requirements Alberta Vehicles

All vehicles must retain and maintain throughout the term of the Lease Insurance coverage for each vehicle meeting the following minimum requirements as per the Terms and Conditions of the Lease Agreement.

  • Term of insurance: 1 year
  • First West Leasing Ltd. to be recorded on the Title Registration as lessor
  • Mailing address on Insurance to be lessee’s address
  • Minimum $2,000,000 third party liability
  • Maximum $1000 collision deductible
  • Maximum $500 comprehensive deductible
  • Complete Replacement Cost (if applicable)
  • Copy of title registration and insurance document sent to First West Leasing Ltd.

All insurance copies should be sent to:

First West Leasing Ltd.
6470 201 Street
Langley, BC V2Y 2X4

Equipment

What You'll Need

Insurance Requirements Equipment

All equipment must retain and maintain throughout the term of the Lease Insurance coverage meeting the following minimum requirements as per the Terms and Conditions of the Lease Agreement.

  • Term of insurance: 1 year
  • First West Leasing Ltd. to be recorded on the Insurance as loss payee
  • Minimum $5,000,000 third party liability
  • Sufficient to cover complete replacement cost
  • Copy of Insurance document sent to First West Leasing Ltd.

All insurance copies should be sent to:

First West Leasing Ltd.
6470 201 Street
Langley, BC V2Y 2X4

Have a question? Simply contact us and we'll provide you with the information you're looking for.

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