Non-Owner Car Insurance: What it Is and How to Get it
Non-owner car insurance is a form of coverage designed for people who dont own a car but require protection from third-party liabilities. This type of insurance is ideal for people who drive forride-sharing services such as Uber or Lyft, who frequently borrow or rent cars, or use a personal vehicle for business. It also provides liability insurance if youre sued for an accident while operating a borrowed or rented car or a vehicle owned by someone else.
Are you in need of non-owner car insurance? Heres what you need to know. Non-owner car insurance covers you for liabilities when youre driving a borrowed or rental vehicle. It also provides coverage if youre sued for an accident. In most cases, it will cover bodily injury and property damage expenses. It doesnt, however, cover the car itselfjust the costs associated with an accident youre liable for.
Non-owner car insurance is suitable for nearly anyone who doesnt own a car but needs to meet state requirements for auto insurance. Its often recommended for those who use a personal vehicle for business, those who drive for Uber or other ride-sharing services, drivers who rent cars frequently, and those who occasionally borrow cars from friends or family.
So, how do you get it? Shopping for non-owner car insurance is easy. Start by researching various providers online or calling your existing car insurer to discuss your needs and request a quote. Be sure to read the coverage details carefully before making a purchase. Its also important to ask questions to ensure youre getting the right policy.
Taking the time to compare prices and policies is key. Youll likely come across a few providers offering similar plans, but prices may vary. So, take your time to compare costs and other details to find a policy suitable for your budget and needs.
Once you’ve chosen your policy, youll need to provide some information to purchase it. This typically includes drivers license details, car registration number (if applicable), payment information, and the names and contact information of any additional drivers, if applicable.
To begin, youll be asked to select your coverage level, and then provide details about who will be driving the vehicle. The last step is typically to pay for your policy and print out the insurance card or document.
You can also get a non-owner policy by personalizing it. By personalizing your policy through a ride-share company, such as Uber or Lyft, youll find a variety of coverage options from which to choose. Rideshare companies often offer customization tools and the choice of many different levels of coverage. This allows you to customize your policy to meet your exact needs and budget.
In addition to the basics, non-owner car insurance is designed to provide you with other coverage options. For instance, you might opt to include accident forgiveness, rental car reimbursement, or roadside assistance. While you may have to pay an additional fee to include these coverages, they offer additional peace of mind.
The next step is to choose how you answer underwriting questions. Each insurer will have different criteria for how they assess potential risks, so its important to answer questions honestly and accurately in order to get the most appropriate plan for you. Take your time to do the research and compare various plans to find the coverage you need at the price you want.
Now youre ready to consider the policy limits. A non-owner policy typically consists of two limits: a bodily injury liability limit and a property damage liability limit. Its usually advised to get enough coverage that could cover for medical bills, legal fees, settlements, and more.
Finally, youll need to consider the deductible; this is the amount of money youll pay out of pocket if you have to make a claim on your policy. Choosing a higher deductible could reduce your premium, but you should only compare plans after youve decided what amount youre comfortable with paying out of your own pocket should the need arise.
For additional or enhanced coverage, you might consider adding uninsured or underinsured motorist coverage, medical payments coverage, or collision coverage. Uninsured/underinsured motorist coverage can provide coverage when the other driver is either not insured or doesnt have enough insurance. Medical payments coverage will help cover medical expenses that occur in an accident. Finally, collision coverage will cover damages to the car itself, if you have a collision with another vehicle or object.
Given the cost of an accident, its important to verify you have the correct type and level of protection to meet your individual needs. Whether youre a student, an Uber driver, a retiree, or simply need the peace of mind of being protected, non-owner car insurance can be a good choice for anyone who doesnt own a car but needs to be insured.
