As the title of this article implies, “non-owners car insurance” is for people who want to purchase auto insurance but don’t own a vehicle. But doesn’t this kind of defeat the purpose of car insurance? Why would you need insurance if you don’t actually own a car? Actually, this form of car insurance can be quite useful for a number of motorists out there.
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How Non-Owners Car Insurance Works
Non-owners is liability auto insurance for those who don’t own a vehicle. It typically covers liability damages costs, underinsured/uninsured motorists, medical payments and offers personal injury protection. This auto insurance doesn’t cover comprehensive and collision costs nor does it feature towing or roadside assistance.
The great thing about non-owners is that it is fairly cheap. A policy can be purchased for only a few hundred dollars a year. The exact amount of the premium depends upon the insurance company, how much protection you want, how often you use the vehicle, and your driving record.
Non-owners is designed for motorists that frequently drive other people’s cars. It allows for the policyholder to have protection in case he or she is at-fault in an accident while driving another person’s car. Let’s examine a couple types of motorists who would benefit from this type of car insurance.
Teenagers Who Don’t Own A Car
It is a well-known fact that teenagers face exceptionally high premiums. This is due to the fact that auto insurance companies view teenagers as a particularly risky demographic. When added to a parent’s policy, a teenager can send premium rates skyrocketing. Faced with these extraordinary rates, some families decide to forbid the teenager from driving the family car. Well, there is another solution. A non-owner’s policy would permit the teenager to drive the family vehicle while preventing the parent’s premiums from soaring. The teenager can pay for non-owners policy out of his or her own pocket, thus preserving the sanity of the household.
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People Who Frequently Borrow A Friend’s or Relative’s Vehicles
Sometimes, for various reasons, motorists have to borrow a friend’s or relative’s car. In such cases, the owner’s policy would normally cover you and your friend/relative. However, if you frequently use this car (say 10 times or more a month) it would be wise to either be added to friend/relative’s policy or to purchase a non-owner’s policy. Adding to a friend’s policy can sometimes be tricky and buying your own non-owner policy might be a simpler solution. This way both your friend/relative are protected and you absorbing all the cost of the policy (it’s the least you can do).
Another advantage to non-owners is that it can provide additional protection for you. For example, if your friend/relative has set low liability limits a non-owners policy can give additional coverage.
People Who Often Rent Cars
Car rental insurance isn’t cheap; it usually comes at a cost of anywhere from $7 to $14 per day. If you’re a frequent traveler, these expenses can add up in a hurry. A non-owners policy for only a few hundred dollars could save you a lot of money. However, if you do buy a non-owners policy, it is advisable to still buy a “loss damage waiver.” This waiver offered by rental insurance companies cover losses due to theft or vandalism (damages typically not covered by a non-owners policy).
Looking To Buy A Non-Owners Policy?
Non-owners car insurance is offered by all the major carriers. Seeking to purchase this type of car insurance? Input your zip code in the box below and fill out the form to get a free online quote. Note you can get as many quotes as you want. Get multiple free online insurance quotes and find the cheapest non-owners car insurance possible.