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With a cession, a creditor transfers certain claims to another creditor. In leasing, a contract of cession is commonly used. When leasing a vehicle, benefits paid by comprehensive insurance (casco insurance) as a result of a total loss must be ceded to the car dealer or garage (lessor).
For this reason, taking out collision or full casco insurance (= comprehensive plus collision insurance) with a replacement value supplement is mandatory during leasing.
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