How is it possible to get car insurance without owning a vehicle? Usually people insure their cars and these insurances transfer to other drivers using these cars. Nevertheless you can own your insurance policy even there is no car belonging to you. Especially it is typical for young Americans who prefer borrow or rent a car if they need to drive somewhere.
In a case you often take a vehicle from your friend or relative you can buy auto insurance policy. This policy can be used when you drive any car, not only one certain. Owning such a policy provides that your assets are protected if at-fault accident occurs. Some drivers think that non-owner car insurance is the most economical way to protect themselves and their assets in an accident.
Besides, your own insurance policy alleviates such concerns as amount of liability coverage carried by the owners of the vehicles. Non-owners policies often propose only liability coverage. Take into account the fact that many vehicle owners pay only the minimum liability insurance. They do it for money saving.
Be ready for a situation when an owner of a car sues you for losses not covered by insurance company in a case you are at-fault in an accident. At such occasion your non-owner policy can help you.
This policy deals as additional insurance. In a case of an accident the vehicle owner’s policy comes in force at first. After that your non-owner car insurance policy comes in force and pays the remainder up to the installed limit.
Having such a type of coverage you can be calm about your liability in regards of the owner’s car. But pay attention to the fact that the policy doesn’t cover the damage and injury expenses to your personal car you are driving. And of course in general your policy will not include collision or comprehensive vehicle coverage because according to insurance program you don’t own a car.
That’s why understand well what is really important for you and on the base of your needs buy a necessary policy. In fact it is not profitable to have liability insurance without owning a car.
If you decided to buy non-owner car insurance you must learn all the information about insurance companies that propose such policies. The types of proposals can vary from one state to another. So first of all you should be informed about laws existing in your state.
Nowadays having a non-owner policy is a popular trend. Many people prefer renting of any car instead of having their own one. It is cheaper.
What are the main reasons to buy such a policy?
- You have a problematic driving record;
- You rent vehicles often;
- You borrow other people’s cars often;
- You belong to a car-sharing company.
Another positive fact about this kind of insurance is that you don’t pay a deductible and the premiums are very low. Premiums for non-owner auto insurance often equal about 50% usual insurance premiums. But they can vary depending on a state and a company.
In a whole non-owner car insurance is a profitable way to drive.