A non-owner car insurance is an insurance policy that is designed to insure individuals who do not drive very often. It is for people who have no ownership of the car they drive.
Individuals who rent or borrow cars are best suited for this kind of insurance. This policy primarily covers protection against liabilities in such situations.
This can be a great advantage in that this policy may not suit everyone, but it can be a great advantage to those who want to drive cars or trucks without being burdened to own one. It covers any damage that that may be caused during such trips.
The following are ways you can benefit from a non-owner insurance policy.
1. Low-cost rental insurance. With non-owner car insurance you can escape the high cost involved while purchasing temporary auto insurance. These charges go as high as 30% to 40% of the rental fee.
2. Urban dwellers. For those who live in urban areas owning a car is not necessary. They rely more on public transport such as cabs or the subway. They may want to drive need occasional insurance. This is where the non-owner policies comes in, to insure all the risks that are involved with a borrowed or rented ride.
3. Peace of mind. A borrowed car sometime makes you worry about damages happening to it while you are using it. With a non-owner insurance policy this worry and tension is eliminated. You have the peace of mind knowing in case of a crash all damages are covered.
4. Responsibilities, Getting this kind of a policy is a responsible gesture. You do not want to put yourself or other’s welfare at risk. Any uninsured accident raises the overall cost for insured drivers This policy basically protects against certain damages. These are damages that are covered under a standard owner insurances policy, but leaves out some aspects.
The most common damages covered are:
1. Catastrophic damage. Any catastrophic damage that may occur to the car is covered under this policy. They involve collisions that my result in major damage to the car. This is helpful for people who lease cars or rent them.
2. Theft. In most cases theft is covered under this policy. Cases of theft lead to loss of the value for the entire car which can be high for the person renting it to pay to the renting company.
3. Fire. The non-owner insurance policy also covers for damages from fire. Like theft, fire also happens without being the fault of the person driving the car.
These are reasons you should have a non-owners insurance policy.