The car insurance you must have when the car has a finance or rent is liability. This can run you a quite high quality as the comp and collision usually cost a bit more. The motivation the banks require car insurance and accident is that they need to know the car is fully covered in case there is an accident.

When you change cars you will have to change your exposure. The car insurance quotes are usually going to tell you that you have to up your car insurance when you have a loan or lease. They will also ask this question and it is important to be straight as they will check and refuse any policy if you have lied.