In Canada, "leasing" a car means signing a 3-5 year contract. Then at
the end of the contract period you return the car or purchase it for a
certain price. You must have car insurance.
"Renting" a car means renting it on a daily or weekly basis. Much much
more expensive. You need to have your own insurance policy, or you will
have to pay the car rental company $10++ per day for their insurance.
In any case, the insurance has to be paid.