Non-Owners Insurance Information
Auto insurance is commonly purchased across the United States, and there are many different types of coverage. The intricacies and details of various policies will determine when your insurance can provide financial assistance following an incident. With that in mind, motorists must understand the many varieties of auto insurance. One type that may be particularly useful for certain drivers is non-owner insurance.
What Is Non-Owner Insurance?
As its name may suggest, non-owned insurance refers to auto coverage that provides financial protection when you are at fault for an incident but do not own a vehicle. These policies may be a valuable investment if you do not own your own car but regularly find yourself borrowing or renting vehicles. These policies typically are capable of covering only a single driver, so your spouse or dependents will not be included.
What Does Non-Owner Insurance Cover?
Non-owner insurance can cover many of the same losses, damages and expenses that a standard auto policy might. In most cases, a sufficient non-owner insurance policy may include coverage for the following:
- Liability—If you are responsible for an accident that resulted in losses for another party, your insurance can help pay for their damages and expenses, including health care costs and repairing or replacing damaged property.
- Uninsured motorist—If another party is at fault for an accident but lacks adequate insurance to pay for your losses, this coverage can help compensate you for the deficiency.
Non-owner insurance is typically incapable of including collision or comprehensive coverage since a specific vehicle is not designated in the policy. Consequently, vehicle damage sustained from collisions, fires, severe weather and criminal activity will likely not be covered.
How Much Does Non-Owner Insurance Cost?
Like most types of insurance, the premiums for these policies can vary significantly. Before being able to provide you with an accurate quote, insurance providers will have to analyze the following factors:
- Location
- Driving records
- Coverage limits
- Driving frequency
- Age
In most cases, non-owner insurance policies do not have a deductible, meaning that you will not have to pay any costs out of pocket before being able to access coverage.
Get the Right Coverage
Regardless of ownership, operating a motor vehicle carries constant and substantial risk. There’s no shortage of things that can go wrong when you’re out on the road, but non-owner insurance policies can provide crucial financial protection in the aftermath of an accident.
Gene Smith Insurance Agency has over 40 years of experience helping drivers in the Zephyrhills and Dade City areas understand their auto insurance needs and acquire optimal coverage. Contact us today to get started.