Staying Insured If You Don't Own a Car
You may wonder why you would want to stay insured if you don't own a car. We've written this special guide to show you many reasons why non-owners insurance is probably a good idea.
What is a non-owners policy?
A non-owners policy or operator's policy would be secondary to the car's policy purchased by the owner of the vehicle. It will only cover any additional costs that go over the owner's person policy. The car does need an original insurance policy on it before you can purchase a non-owner's policy.
Is a non-owner's insurance plan for you?
There are certain circumstances for which purchasing this type of plan is a good idea. Here are a few of them:
- You drive a vehicle for work.
- You frequently borrow a vehicle from family or friends.
- You rent vehicles for more than 10 days a year
If you are living in a home with someone who has a vehicle, then you will not be able to get a non-owner's policy on it because you are likely to drive it more often. Another important thing to remember is that you should not drive any car that does not already have at least the state minimum in insurance coverage. Your policy will not cover you in a situation like this and you will be fined and potentially lose your license, making your insurance premiums much higher.
Requirements and eligibility for non-owner's car insurance
Each insurance company also has certain requirements you must meet to be eligible to get this type of policy. Because the can vary so widely you should search around with several companies to see what they require of you. These plans are also very affordable and will not cost you much, all the more reason to stay insured if you don't own a car.