Written by Non-Owners Car Insurance: Buying A Non-Owners Insurance Policy
About Non-Owners Car Insurance
When you think of regular car insurance you think of paying each month for insurance coverage on a vehicle registered in your name, but, what if you don’t actually own a vehicle yet you borrow someone else’s car?
Of course every registered vehicle needs to be insured, but as a licensed driver you should also carry some form of car insurance to protect your assets and personal finances. The non-owners insurance policy is designed to solve this problem.
With a Non-Owners Insurance Policy you get a kind of “flat rate” liability car insurance policy for any vehicle you may drive, whether borrowed or rented. It should be noted that a non-owners insurance policy can be expensive in some instances because the insurance company has no way of knowing which vehicle or vehicles you will be driving, and that takes a very large part of the equation out of assessing risk. And while it’s hard to calculate how much damage will cost the insurance company for a vehicle they know nothing about, it also doesn’t automatically mean you will be paying more since you only need to get liability coverage with the non-owners policy. In actuality, the price could be lower than if you had comprehensive, collision and liability on a vehicle you owned.
Buying A Non-Owners Car Insurance Policy
Alright, if you’re still interested in buying a non-owners policy you follow the same steps as getting regular car insurance.
Walk-in, call, or get an insurance quote online. Specify that you want a “non-owners car insurance policy” and the agent will tell you if they offer this coverage. If you go to an insurance companies website you may be able to find out quickly if they offer non-owners coverage.
Once you get the quote, you’re not done. Nope. You need to get a few more. The only way to truly save money is to compare rates. Get ahold of another company and get a quote. Now. Compare those rates and decide which non-owners policy has the best coverage at the best price.
non-owners? Dude, take the bus. I couldn’t imagine shelling out $1,000′s of dollars per year for an opportunity to have car insurance even if I didn’t own a car.
seems a nonowners insurance policy is more expensive than it’s worth.