When it comes to insurance for vehicles, most people have a good idea of the different policies available. However, there are some products that even knowledgeable individuals have never heard of, such as non-owner car insurance. At first glance, this \u201cno car insurance\u201d doesn\u2019t make a lot of sense. However, as you learn the facts about this coverage, you\u2019ll recognize its true value.<\/p>\n
This policy gives you protection when driving a vehicle but not owning it. For instance, if your current car is in the shop, but you need a way to get back and forth to work each day, you might borrow a vehicle from a friend or family member. Instead of going on the owner\u2019s policy, you could take out an inexpensive non-owner car insurance policy.<\/p>\n
Keep in mind that non-owners insurance only offers liability protection as opposed to full coverage. That means if you\u2019re in an accident and the at-fault driver, the only things covered are damage to the other individual\u2019s automobile and expenses for bodily injury. You\u2019ll still have to pay the deductible for non-owner liability insurance, and the amount paid out would have a limit according to the policy.<\/p>\n
You can purchase non-owner car insurance at any time. Since there\u2019s no specific vehicle assigned to the policy, it would cover you whenever you drive a car that you don\u2019t own<\/p>\n
When borrowing an automobile, there\u2019s a huge risk of having no car insurance. Because the friend or family member is the legal owner of the vehicle, and without this coverage, they would ultimately have the responsibility to pay for damage to the other driver\u2019s vehicle. They would also be responsible for any medical expenses the other driver incurred.<\/p>\n
For them to recoup what they spent, they would have to take you to court. As you can imagine, not taking out a policy for auto insurance without a car could destroy valued personal relationships. Considering the low cost of getting car insurance without a car, there\u2019s no reason to put yourself in that situation. That, combined with the fact that this insurance prevents the other driver from suing you, makes it a worthwhile investment.<\/p>\n
Auto insurance without a car works great for scenarios beyond borrowing a vehicle from a friend or family member. It\u2019s an excellent option when renting automobiles, especially if you do so frequently. Also, many business executives take out this type of policy when driving a corporate vehicle.<\/p>\n
You can even take out non-owner car insurance if you don\u2019t plan on driving for an extended length of time. Whether deployed overseas or going a long vacation, this policy would prevent an accidental lapse of coverage from your regular policy. This is important because when a lapse occurs, it\u2019s common for premiums to increase substantially.<\/p>\n
There\u2019s even a non-owner SR22 policy available. If you received a DUI or had some serious traffic infraction, the state may require you to have this coverage before it reinstates your license. Depending on the circumstances, some people must maintain this type of protection for up to five years. Instead of having no car insurance, a non-owner SR22 policy would allow you to drive your vehicle, as well as one belonging to someone else.<\/p>\n
Depending on the specific type of non-owner liability insurance that you get, it could cover even more. As an example, it might include personal injury protection coverage, rental car liability coverage, and even underinsured or uninsured motorist liability insurance. By working with a reputable provider, you can get the best protection when driving a vehicle that you don\u2019t own.<\/p>\n
Whether you own a vehicle, don\u2019t own one but borrow someone else\u2019s, use a company automobile, drive rentals, or plan to be away from home for some time, you\u2019ll never go wrong with a non-owner car insurance policy. For the best coverage at the lowest price, speak with an agent who fully understands this particular coverage.<\/p>\n