Non Owner Auto Insurance
Non owner auto insurance would certainly be called for if someone does not own an automobile but rents or borrows another's car often for various reasons. It would also be quite essential if one borrows a friend's car often to run errands or take trips. It is liability insurance, in essence, not comprehensive insurance. It will cover one's own medical expenses should the driver be hurt and help cover possible liabilities should the non owner be sued for negligence or carelessness resulting in an accident. The coverage is actually quite reasonable and can relieve a friend's mind that worries about you borrowing her car on a regular basis.
More and more commuters use public transportation when the price of gas climbs and that results in either their autos remaining in the garage most of the time or actually being sold. When person needs a car and doesn't have one, most of the time it's either mooch off a friend's goodwill or rent from an agency. In either case one should consider purchasing non owner auto insurance as an investment in good will and good sense. It's goodwill because one's friend who is kind enough to loan her car ought to be able to look at that policy and smile while you are out running around. And the non owner auto policy is also good sense insurance because when the time comes to secure car rentals, a driver can nix those super high coverage costs in lieu of already having the more reasonable non owner policy.
When a person gets to use the car of a friend or relative not in the household, he is riding on the cushion of the owner's policy coverage. The owner's indemnity policy does cover other drivers, but the actual coverage of her policy may be the bare minimum. Should an accident occur, the liability limits may be so low that when the offended party sues for damages, the one borrowing the car could lose everything he owns. Non owner auto insurance is all about the other guy and having protection against what legal claims he might have after you have caused him harm. Forgiving someone for harming you can be hard. Jesus told a parable about a man who would not forgive and was eventually tossed into torment because of his attitude. Jesus then said, "So likewise shall my heavenly Father do also unto you, if ye from your hearts forgive not everyone his brother their trespasses." (Matthew 18:35)
Before a person does get non owner auto insurance, he should look at how much coverage is provided from the credit card company that covers his rental car transactions. The question should always first be about liability coverage. The credit card company's protection will probably include collision and comprehensive, but make no assumptions until checking with the card company's policy. The policy may not cover liability, and that's where the big money expenses will lay in case of an accident. Credit card company policies for rental cars may also not cover certain kinds and makes of autos. A non owner auto insurance policy might cover these niche rentals.
While these very specialized auto policies may seem like a luxury at three to five hundred dollars a year, financial experts say that if a person rents an automobile more than ten times a year, the choice is economically sound to purchase the non owner policy. The purchase will make money by the end of the year. While each policy is different, many non owner policies will cover liability issues in Canada and Mexico. Of course when one travels overseas, all things have changed in terms of using one's non owner auto insurance policy. In fact, forget driving on one's own regular policy for that matter. Insurance people say to bite the bullet and drive on the rental car insurance that is offered. And again, check with the coverage one gets through the credit card used.
Getting non owner auto insurance does not assure that a person will then get better insurance rates when buying his own auto. In other words, there are no discounts for getting the lower coast insurance first. On the other hand, if someone thinks he might be buying a vehicle in the next year, look into the non owner auto insurance policy's ability to transfer to an owner policy without any added on fees. In fact, see if an unpaid balance on the non-owner's coverage will just move over to the owner's policy. So take the advice of shopping around for any specialized policy such as the one being discussed here.
One thing that needs to be made very clear: the non owner coverage under consideration in this lens is not for members of one's household. In other words, the policy cannot be purchased for a teen, grandma or aunt living under a car owner's roof. The policy will not cover someone driving a commercial or company vehicle and must only be used for unplanned and unexpected use by someone who only uses the car infrequently. In some ways, it may be proof of someone's genuine thanks to another who offers the use of their car. But it also may be a revelation of wisdom in that the holder of the non owner policy is very aware that though someone else has insurance, it could easily fall far short of real protection in the event of a catastrophic accident.
More and more commuters use public transportation when the price of gas climbs and that results in either their autos remaining in the garage most of the time or actually being sold. When person needs a car and doesn't have one, most of the time it's either mooch off a friend's goodwill or rent from an agency. In either case one should consider purchasing non owner auto insurance as an investment in good will and good sense. It's goodwill because one's friend who is kind enough to loan her car ought to be able to look at that policy and smile while you are out running around. And the non owner auto policy is also good sense insurance because when the time comes to secure car rentals, a driver can nix those super high coverage costs in lieu of already having the more reasonable non owner policy.
When a person gets to use the car of a friend or relative not in the household, he is riding on the cushion of the owner's policy coverage. The owner's indemnity policy does cover other drivers, but the actual coverage of her policy may be the bare minimum. Should an accident occur, the liability limits may be so low that when the offended party sues for damages, the one borrowing the car could lose everything he owns. Non owner auto insurance is all about the other guy and having protection against what legal claims he might have after you have caused him harm. Forgiving someone for harming you can be hard. Jesus told a parable about a man who would not forgive and was eventually tossed into torment because of his attitude. Jesus then said, "So likewise shall my heavenly Father do also unto you, if ye from your hearts forgive not everyone his brother their trespasses." (Matthew 18:35)
Before a person does get non owner auto insurance, he should look at how much coverage is provided from the credit card company that covers his rental car transactions. The question should always first be about liability coverage. The credit card company's protection will probably include collision and comprehensive, but make no assumptions until checking with the card company's policy. The policy may not cover liability, and that's where the big money expenses will lay in case of an accident. Credit card company policies for rental cars may also not cover certain kinds and makes of autos. A non owner auto insurance policy might cover these niche rentals.
While these very specialized auto policies may seem like a luxury at three to five hundred dollars a year, financial experts say that if a person rents an automobile more than ten times a year, the choice is economically sound to purchase the non owner policy. The purchase will make money by the end of the year. While each policy is different, many non owner policies will cover liability issues in Canada and Mexico. Of course when one travels overseas, all things have changed in terms of using one's non owner auto insurance policy. In fact, forget driving on one's own regular policy for that matter. Insurance people say to bite the bullet and drive on the rental car insurance that is offered. And again, check with the coverage one gets through the credit card used.
Getting non owner auto insurance does not assure that a person will then get better insurance rates when buying his own auto. In other words, there are no discounts for getting the lower coast insurance first. On the other hand, if someone thinks he might be buying a vehicle in the next year, look into the non owner auto insurance policy's ability to transfer to an owner policy without any added on fees. In fact, see if an unpaid balance on the non-owner's coverage will just move over to the owner's policy. So take the advice of shopping around for any specialized policy such as the one being discussed here.
One thing that needs to be made very clear: the non owner coverage under consideration in this lens is not for members of one's household. In other words, the policy cannot be purchased for a teen, grandma or aunt living under a car owner's roof. The policy will not cover someone driving a commercial or company vehicle and must only be used for unplanned and unexpected use by someone who only uses the car infrequently. In some ways, it may be proof of someone's genuine thanks to another who offers the use of their car. But it also may be a revelation of wisdom in that the holder of the non owner policy is very aware that though someone else has insurance, it could easily fall far short of real protection in the event of a catastrophic accident.
Non Owner Auto Insurance
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