Did you know that you can get an auto insurance policy even if you don’t own a car? To be specific, it is called the non-owner car insurance, which can prove to be beneficial when you are borrowing a car from another person or renting a car. In case of an accident, this type of liability insurance compensates for property damage or physical injuries acquired by passengers and other motorists.
Find out if you need to get a non-owner auto insurance for yourself. The following are some factors to consider:
You borrow the car of other people on a regular basis. So, if you get into an accident, the insurance of the real owner of a car that you are driving would normally pay. But, if the liability costs go over the insurance limit, a non-owner auto insurance would help you pay for the remainder of the expenses.
You rent vehicles on a regular basis. Opting to have a non-owner car insurance would cost you less than paying for the liability insurance policy of the rental car company.
You have been convicted for some serious violations such as DUI, and the state asks you to get your driver's license reinstated or obtain one, by filing an SR-22 form (or FR-44 in other states). These forms will be your proof of your auto insurance. But, if you do not own a vehicle, a non-owner insurance will do.
You have a habit of using car-sharing services. Having a non-owner insurance coverage will supplement the liability policy of the car-sharing company. This additional policy can provide you some protection in case a victim brings charges against you after an accident. This policy can protect your assets and savings.
How Much Is a Non-Owner Insurance?
The cost of this policy is less than a basic car insurance plan mainly because you have no steady access to a vehicle. In most cases, a non-owner car insurance is cheaper than the amount of the liability policy of a standard auto insurance.
How often you drive, your age, your present residence, and your driving record are the factors that determine the cost of the non-owner policy.
This non-owner insurance is favorable to you if you want to create an ongoing car insurance policy. Later on, when you decide to buy your own car and apply for the basic auto insurance, you may encounter some problems. Insurance companies may consider you as a risky candidate if you have been uninsured for long periods of time.
To make sure that you get the best auto insurance policy by choosing only the best insurance company. At Wellcovered Insurance, our mission is to ensure that we protect are clients and offer them policies that they can afford. Learn more about our products and services by calling our agency at (386) 218-4951. You can also request for a free quote by CLICKING HERE.