Yes, it is possible to purchase an auto insurance policy even when you don’t own your own vehicle. This is known as non owner car insurance, and you’d be surprised how many people can benefit from owning such a policy. But even though there are some drivers who might find it beneficial to carry a non-owner car insurance policy, there are other drivers who may not need the extra coverage. Keep reading to learn all about non owner car insurance, and whether or not it can apply to your unique situation.
For starters, you should know that non owner car insurance only pertains to liability coverage. this means two very important things: one, you won’t have the option to purchase most other coverages that you would if you owned your own vehicle, such as collision and comprehensive coverage. Therefore, the policy only pays if you get into an accident with another person or vehicle and you are held responsible for paying damages to restore their property or cover their medical expenses.
If you are not deemed to be at fault for the accident, then the at-fault driver’s insurance will cover most or all of your expenses. The only way you can get your medical expenses covered if you are found at fault with a non-owner policy is if you purchase medical payments/PIP coverage beforehand (or if you have good health insurance in the first place). Without either of these optional medical coverages, and without your own independent health insurance policy, you’ll be stuck with a substantial amount of medical expenses.
There are specific situations in which it may be more beneficial to purchase your own non-owner car insurance coverage instead of just putting yourself on another person’s policy. If you don’t plan on moving to an area with good public transportation, it’s highly recommended that you don’t go without either of these options, seeing as how a lapse of insurance coverage can make finding a new policy difficult and more expensive once you get ready to buy one. To protect yourself in the meantime, drivers who need a non-owner car insurance policy include:
If you don’t own your own vehicle but you still need to drive, you may be able to do so legally without purchasing your own non owner car insurance policy. There are some loopholes in rare cases, but you have to be extremely careful if you aren’t planning to purchase any sort of auto insurance coverage at all:
SR-22 auto insurance policies are usually issued to those drivers who have recently been convicted of a DUI or other extreme driving violation which results in the loss of their license. But just because you cannot legally drive without a license does not mean that you don’t need to carry auto insurance coverage in the interim. After all, this will lead to a lapse of coverage, which we’ve already explained that car insurance companies frown upon. On top of that, you are rebounding from the type of driving violation that will make purchasing a future insurance policy extremely expensive – if you can find an insurance company who will bother to ensure you at all.SR-22 Car Insurance in High-DUI States Legend: SR-22 Insurance Rates Wyoming Idaho Nebraska South Dakota Wisconsin Arizona 10 20 30 40 50 60 70 $22 $43 $38 $41 $52 $76
Whether you’re specifically looking for SR-22 auto insurance, non-owner auto insurance, or a regular car insurance policy for you and your own vehicle, you need to make sure you compare rates between different companies first. After all, shopping around is the best way to get the most affordable rate – and the money you save in the meantime will be worth the time and effort!