# Help! Xchange lease insurance?



## Ubernica (Feb 21, 2017)

Hey guys I have been driving for a while but just decided to give the xchange lease a try. They are giving me a good deal on the car but then they tell me I gotta have commercial insurance on it? Tallies up to more than $500/month! Anyone taking advantage of this program? What kind of insurance did you put on the car? I have to add XCL Titling trust as a Lien Holder but I dont know if that makes it a commercial policy? I dont wanna pay for a wrong policy or have to overpay for this commercial insurance if I dont have to. Appreciate the feedback


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## SEAL Team 5 (Dec 19, 2015)

Ubernica said:


> I have to add XCL Titling trust as a Lien Holder but I dont know if that makes it a commercial policy? I dont wanna pay for a wrong policy or have to overpay for this commercial insurance if I dont have to. Appreciate the feedback


Trust me, Xchange Leasing won't allow you to pay for a wrong policy. They will make sure that their butts are well covered. Having to add the owner/lien holder as an additional insured is common practice in the transportation industry.


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## Maven (Feb 9, 2017)

How much is your monthly lease payment? Add that to your monthly insurance payment. Subtract that from how much you realistically expect to earn, not the overly optimistic numbers quoted by Uber. Don't forget to subtract money for gas, maintenance, and of course taxes. How may hours per week will you need to work? Are you still doing better than minimum wage?


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