an apparatus and method for processing lease insurance information which includes a memory device for storing a first data set , wherein the first data set contains information for generating at least one of an insurance premium and an insurance policy for providing lease insurance for excess wear and tear for a leased entity or post - warranty repairs for a leased entity , respectively , a processor for processing the first data set in conjunction with a second data set and a third data set , wherein the second data set contains information regarding at least one of the entity to be leased and a term of the lease , and wherein the third data set contains information regarding at least one of the leasing individual , the leasing entity , or other pertinent information , and further wherein the processor generates a fourth data set containing at least one of an insurance premium and an insurance policy for providing insurance for excess wear and tear or post - warranty repairs , respectively , for the leased entity , and a device for at least one of displaying and outputting information contained in at least one of said fourth data set , the insurance premium , and the insurance policy .