Non Owners Car Insurance
Car insurance is mandatory in almost all states, and you shouldn’t be taking a chance of driving a vehicle without an insurance policy in place, even if you are not the owner of the car that you drive; however, the policy you need in this situation will be non-owner car insurance.
There are situations when people prefer not to own a car, but instead, borrow or rent one on an as-needed basis. In case you don’t own a car but involves in an accident, your non owners car insurance will cover the damages.
Certain Limitations and Considerations
The important thing to understand is that even if you get non owners auto insurance, you are still not eligible to drive a car that is not insured by its real owner. It is so because your non-owner or loaner car insurance will only cover any amount left uncovered by the car owner’s liability coverage.
Another important piece of information you should have is that some insurance companies do offer” driving someone else’s car insurance” policies, but they limit it to people who live in metropolitan areas like Chicago, New York, etc. In these cities, the main reason why people don’t own a vehicle is the limited availability of parking options; moreover, the cost of parking is on the higher side, which keeps people from owning a vehicle. It means that if you live in a smaller city, you may have a hard time finding a good insurance provider; luckily though, you can try online insurance companies to pick a suitable non owners auto insurance plan.
While figuring how to get non owner car insurance, you should bear in mind that most insurance companies wouldn’t help you with non-owner policies, especially if you have already received a conviction of driving whilst intoxicated. Still, you can find insurance companies who deal in this type of insurance products, and help you even if you have been convicted and in need of a new driver’s license.
Some Real Benefits of Taking Out Non Owners Car Insurance
The very first thing about non ownership car insurance policy is that it is not for everyone, but it is sure to help in certain situations. If you drive rental cars or trucks from time to time, a non-owners plan may well be a blessing. Here are a few advantages of this type of insurance policies.
- Like mentioned earlier, taking out this insurance policy is the best bet for urban dwellers. Those people may not have the convenience of parking their vehicle or they may travel a little. In any case, these part-time drivers can take advantage of borrowed car insurance whenever they borrow a car.
- If you have tried car rentals, you may already understand the fact how expensive it could be to purchase a temporary insurance policy – it could actually be 40% of your daily rental fee, which is a lot higher as compared to what you’d be paying to get your car insured for a day through non-vehicle owner insurance policy.
- One of the biggest benefits of this insurance plan is that it offers maximum peace of mind. No matter how many miles you’re going to drive, you can relax because you know you’re insured.
Know Your Coverage
Although it makes sense to apply for a non-owners insurance policy, you should understand the importance of comparing different insurance providers before selecting a non owner car insurance quote. There may be some changes in what your policy will cover, which is why it’s important to have some information in this regard.
Typically, a non-owners car insurance policy covers everything that a standard owner insurance policy covers, but still, you may notice some variations. Here’s what most of these policies will cover.
- Any type of catastrophic damage to your car will be covered by your non-owner insurance. The damage could be due to a simple collision or a serious accident that leads to functional destruction of your car. This type of cover is extremely useful for people who love to drive a rental car.
- The insurance policy will also cover your car for theft costs. In case of theft, you will loss the entire vehicle value, and this could cause serious problems if you’re renting a car. Most of these policies will cover monetary payments in such circumstances.
- Fire damage is always a potential risk and is often covered under your non-owners insurance. Quite like in case of theft, the policy will make monetary payments to cover your loss resulting from fire damage.
The fact of the matter is that though you can overlook the importance of taking out a non-owners insurance policy, you will be better off paying that money to feel safe on the road. Just make sure you opt for a right insurance provider and know exactly what these policies are going to cover. Different insurance plans may work differently and include different types of coverage points; therefore, you should always take your time and pick a plan that offers the best combination to suit your needs.