Non Owner Auto Insurance

Non owner auto insurance is extremely important to carry if you do not own a vehicle. It might seem ridiculous, and it might seem like you could just as easily obtain auto insurance through a rental agency, if you ever need to rent a car. Though, there are many times when you may need to drive the car of a friend, neighbor or family member.

And, now there are even hourly car rentals in big cities, which require some kind of insurance. So, while in all of these situations you are a non owner of the auto, you will need insurance. And, do not leave it to chance that any of these parties has you covered under their auto insurance.

Coverage Inclusions, Exclusions

Instead, it is prudent to go out and find a non owner auto insurance policy that will suit your needs while staying within your budget. The good news is that you have no car note or loan to pay every month. It is important to understand that before you take another person's car out for a drive, that you are not covering their vehicle through your non owner auto insurance. Instead, a comprehensive automobile insurance policy will instead cover any one and any object that you harm.

This means that through your non owner auto insurance policy, you will basically have liability coverage. This includes bodily injury liability and property damage liability. This means that up to the limits (maximum) coverage that you opt for, you will be covering damages and injuries that you cause. You will need to make sure that you cover at the least, your assets, through this coverage, so that you can avoid lawsuits if you are at the wheel and cause damages and injuries.

Figuring out Limits

Next you need to figure out what coverage limits to carry for your non owner auto insurance bodily injury and property damage. For bodily injury, consider that if you harm the main bread winner in a family, they may not be able to work to the same extent that they were able to prior to the accident. In the case of an accident, it is more likely that there are probably a few injuries, and a few beaten up cars involved. So, imagine that they all need help getting back to their lives, whether it is through multiple surgeries, therapy and chiropractic care and the like.

While it is good to help others, particularly if you had a hand in harming them, it is not entirely your responsibility to pay for their every need for the rest of their lives. And, it may not be possible, given your own financial constraints in life. Though, it is probably more expensive than you think, just for them to go to the hospital and have a sprain taken care of. Multiply that to include back surgery or other internal injuries, and it is far more costly.

Consider Value of Assets

So, your job is just to cover the present day value of your own assets. They need to include the actual value of your home, savings, retirement accounts and other investments. Also, make sure that you include the value of your annual income. Covering up to these limits will keep any non owner auto insurance problems to a minimum. It is more likely than not that you just want to be able to get on with your own life, because there is no sense it disrupting multiple lives.

This is why it is so important to carry non owner auto insurance with liability coverage. Beyond knowing that you will have to sign up for non owner insurance for your auto, you also need to be cognizant of the auto you will be driving. While it is not your responsibility per se, people who lend you their auto may not realize that they need to be covered for other drivers if they want to lend out their vehicles. The owner of the car needs to have proper insurance, and must be prepared to see their vehicle get wrecked by someone other than themselves.

It needs to be a non issue prior to you driving the vehicle of the owner. It is non sense for them to not understand, but coverage can be difficult no matter how long you have carried coverage. The next item on the list is more fun, and a non issue. It is shopping for coverage for non owner coverage. It is good to still alert the owner that they need to cover the vehicle. Otherwise, compare quote rates to find the most competitive quotes for you.

Non owner auto insurance is necessary if you will be driving a borrowed car. It will protect you against liabilities. Just be sure that you carry ample coverage.