Non owners insurance is a type of insurance policy that provides liability coverage for individuals who do not own a vehicle but still drive one on a regular basis. This type of insurance is designed to protect the driver in case they are found at fault in an accident and need to cover the cost of damage or injuries to others.
Who needs non owners insurance?
Non owners insurance is typically recommended for individuals who –
- Do not own a car but frequently rent or borrow one
- Use a car sharing service like Zipcar or Car2Go
- Have had their license suspended and need to maintain insurance coverage
Even if you do not own a car it is important to have non owners insurance if you plan on driving any vehicle regularly.
What does non owners insurance cover?
Non owners insurance typically provides liability coverage for bodily injury and property damage that you may cause to others while driving a vehicle you do not own. This coverage does not apply to any damage to the vehicle you are driving or any injuries you may sustain in an accident.
Some non owners insurance policies may also include coverage for uninsured or underinsured motorists medical payments and legal defense fees in case you are sued as a result of an accident.
How much does non owners insurance cost?
The cost of non owners insurance will vary depending on factors such as your driving history age and location. On average non owners insurance tends to be less expensive than traditional auto insurance since it only provides liability coverage and does not cover the cost of damage to a vehicle.
It is important to shop around and compare quotes from different insurance providers to find the best rate for your non owners insurance policy.
Benefits of non owners insurance
There are several benefits to having non owners insurance including –
- Legal protection – Non owners insurance ensures that you are covered in case you are found at fault in an accident and need to cover the cost of damage or injuries to others.
- Peace of mind – Knowing that you have insurance coverage while driving a vehicle you do not own can provide peace of mind and alleviate some of the stress associated with getting into an accident.
- Compliance with state requirements – In some states non owners insurance may be required in order to maintain your driver’s license especially if you have had previous driving violations.
Non owners insurance is a valuable type of coverage for individuals who do not own a car but still drive one on a regular basis. It provides liability coverage in case you are found at fault in an accident and need to cover the cost of damage or injuries to others. If you fall into this category it is worth considering purchasing a non owners insurance policy to protect yourself and ensure that you are compliant with state requirements.
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