If you don't currently own a vehicle, but you often borrow or rent one, you might be a good candidate for non-owners car insurance. This type of insurance policy is only for people who do not own a vehicle but occasionally use a car or truck for personal use. It includes many of the same types of coverage a regular auto insurance policy will cover, though there are some exceptions. Here are some things to know about this type of policy.
Reasons to get a Non-Owners Insurance Policy
First of all, there are a few different reasons you might need a non-owners insurance policy if you don't own a vehicle. If you have already sold your old vehicle or will be selling it well before buying a new one, you should get this policy. That is because between that time, you will likely be borrowing a vehicle to run errands or test driving a car at a dealership. It helps to have your own vehicle insurance during this time. You are also a good candidate if you will be renting a vehicle on occasion for work or errands, or if you will be borrowing someone's vehicle when they don't live in your household. Also, you might borrow someone's vehicle and share driving duties whom you commute with, but you won't be covered under their policy.
Who Doesn't Need This Policy
There are also situations where you may not need this type of vehicle insurance policy. For example, if someone who you live with has a vehicle you borrow regularly, that is not usually a good reason to have the policy. You should be able to be covered under their policy since you live together. You also don't need a non-owners car policy if you are using a vehicle owned by your company, since you should be covered under their commercial auto insurance policy.
Common Things to Be Covered Under the Policy
It also helps to know exactly what is or is not covered under a standard non-owners vehicle insurance policy. First of all, some basic types of coverage include property damage, such as damage to a vehicle during a collision, and bodily injury due to a collision. Some insurance companies will offer a little extra coverage for this type of policy, such as uninsured motorists' coverage and coverage for medical payments. More extensive policies are usually not an option if you don't own the vehicle, such as towing and roadside assistance, rental reimbursement, comprehensive, and equipment coverage.