Can I Get Car Insurance without a Car?
Live in the city but don’t own a vehicle? Well, if you are going to be driving a car, whether a rental or borrowed, you have to have the minimum liability coverage, even if you don’t own a vehicle on your own. This coverage is going to protect third parties in case you cause an accident. But you can also extend the policy to include ones that provide coverage to you as well.
What Is a Non-Owner Policy?
If you don’t own a vehicle you can still buy insurance for all the time you do end up driving. This is a non-owner insurance policy which applies every time you drive a car and protects you, as well as the car. This is exclusively for individuals that do not own a vehicle. Note that if you do own a vehicle, you do not need to buy a non-owner policy for every time you drive a vehicle that is not yours.
A non-owner insurance policy is applicable in any state you travel to. You will, however, be required to purchase the minimum liability requirement of your own state. Like with any other insurance policy, it is up to you to decide how much you can pay out-of-pocket in the event you were to get into an accident.
When Will You Need It?
There are several ways in which a non-owner insurance policy may be useful. Even if you are not a car owner yourself, there’s no reason why you cannot be insured and protect yourself from unforeseen events on the road. The following are at least two situations in which a non-owner insurance policy is of use:
If You Travel a Lot
If you have to travel a lot for work or if you rent cars frequently for trips, a non-owner insurance policy can come in handy. If you own a car, the insurance policy on your own car will apply to the rental as well. If you don’t own a car, the state requires you to have insurance in order to drive the car. The renting agency will offer you a rental car coverage, but this is often more expensive than buying it independently from an auto insurance agency.
When you buy a non-owner insurance policy from an auto insurance company, you can also compare rates and make a more informed choice. It may be slightly more expensive than buying a one-time rental car coverage since the non-owner policy will allow you to drive different types of vehicles. But in the long-term, this is a more cost-effective plan.
If You Borrow Vehicles
If you don’t rent frequently but do borrow vehicles from friends, family or neighbors to run errands every now and then, a non-owner policy will be of great use. Often, the owner of the car may have a protective cover which applies no matter who is driving the car. But this is not always the case. Often, the owner will be expected to add names of whoever is driving the car to the policy in order to derive protection from it.
The best and safest option is to get a non-owner policy of your own. This protects the owner’s car even if they’re not the one driving it.
If in case the owner’s policy does cover other drivers, the primary policy will take care of any damage in case of an accident. If there are any overhead charges that the primary policy cannot cover, your non-owner policy can kick in then.
How Much Does It Cost?
Non-owner insurance policy, naturally, will cost less than if you were getting insurance for your own car. The liability coverage you have to get for your own car will cost far more. Depending on your age, driver risk, and how often you will be driving, the premium is calculated. Other than that, if you want to include covers other than minimum liability, that will cost extra too.
Where Can You Get It?
Buying a non-owner insurance policy is as simple as buying any other policy. You simply have to approach any auto insurance agency and ask for a quote. Similar to buying a policy for a car you own, it is always wise to compare quotes and get the best possible rates, before you make a decision.
The bottom line is that if you are going to be driving, you will need insurance coverage regardless of whether you own the car or not. While you can always rely on the rental agency, the cost-effective thing to do would be to buy the policy on your own.
A non-owner insurance policy is an advisable way to go about things if you want to be a responsible and a smart driver. If you are going to be driving a vehicle, you are required by the state to get insurance. You may as well go for the option that is the most beneficial!