We all know what car insurance is but how many of us know what non-owner car insurance means? In this article, we take a look at this little-known insurance term.
The small print
In essence, it means a policy which allows drivers to have the correct motor trade insurance when they either rent or borrow a vehicle which they don’t actually own. It also covers a non-car owner whose licence has been revoked.
It offers an affordable way to be covered when driving and there are other benefits too. Both traditional and non-owner insurance quotes require the same information, such as age, sex and driving history. Risk factors which may affect the cost include how many accidents you have had and how many times you have claimed for damage.
This type of insurance – Quotemetoday is one of many who can assist – is very specific and includes bodily injuries which is important as you don’t want to be liable for costly medical bills if you cause an accident whilst driving a car that isn’t legally yours. You also need property damage liability.
Who’s it for
Generally speaking, non-owner car insurance is best suited for people who rent vehicles on a regular basis, borrow cars or are part of a car-sharing pool. If you frequently rent vehicles, use a car-sharing service, borrow other people’s cars, or need to maintain insurance coverage between vehicle ownership, you may want to consider this type of coverage.
And who is it not suitable for
Our advice is to make sure you read and fully understand the small print of rental firm agreements or car-sharing schemes. It is important that you are clued up on which situations lend themselves to non-owner car insurance. If in doubt, it will be worth speaking to an expert who will be able to take you through the different steps to ascertain what policy is best for you.
Who to turn to
It’s worth knowing that not all car insurance companies offer non-owner car insurance policies so, again, it is worth doing your research to find out who does and does not. Check with other policies you own to see if it can be added to it and always make sure that you shop around for the very best deal too.