Sometimes people find they require a car insurance coverage even when they do not own a car. If you are among these individuals that still drive around in rented or borrowed cars, acquiring non-owner insurance should be your top priority. It is advisable that you obtain this form of insurance coverage as it will provide you with some form of personal liability not covered by owner policy.
Obtaining it is relatively easy via auto insurance firms. Compare and contrast the rates of different companies and select the one that suits you. It is also important that know the minimum requirements needed to be met for that particular state you drive in.
So, what is non owners insurance?
It is a car insurance policy minus the vehicle. It is designed for individuals who require an insurance cover, but does not own a vehicle. It is similar to a conventional or traditional car insurance cover in the way it is written, and the fact that they are both issued by an auto insurance company.
Why would you need it?
You would require non owners insurance coverage if you feel the urge to obtain a vehicle insurance policy, but do not own a motor vehicle. For instance, if you occasionally borrow or use other people’s vehicles and need to insure it, this kind of policy would be ideal for you. One of the most common reasons why people buy this policy is due to the fact that they need an SR22 filing to get back their license after getting a DUI, but do not own a car.
In such a case, the individual can buy this insurance coverage with an SR22 filing attached. This way it will be considered by the DMV as a legitimate policy and his/her driving rights can be restored. At times an employer may need an insurance cover as a job requirement, and if you do not have a vehicle, then this type of policy would suffice.
What types of vehicle are covered under this policy?
With this form of auto insurance coverage, you can drive in any personal use vehicle not registered to you, such as your neighbor’s car, employer’s car, or a hire one. This policy is intended for people who need coverage for occasional use, but not for any car they have regular access to or drive regularly.
Which one is cheaper between a regular policy and a non owner’s insurance policy?
Of the two, non owner’s insurance policy is relatively cheap. Their main difference is that the rating of annual mileage for a non owner’s policy can be at a lower factor as the vehicle is not used regularly. Apart from that, there really is no major price difference between the two policies. You may come across agents who would recommend you a non owner’s policy as a way to earn your enterprise by providing some savings. This is a hoax and it is advisable that you stay away from such people and firms.
How can you obtain a quote?
Most firms provide non owners insurance quotes, but some do not provide online quotes. Search online for terms such as “non owners insurance quotes” to find companies that provide this service, or “non owners insurance”.
You are highly likely to receive a call-in for a quote. Generally, insurance agencies are a good way out as they concentrate on these forms of policies and often help people find better rates.