After struggling for years with an incredibly expensive insurance plan, I realized that there had to be something that I could do to make things right. I started shopping around for a business that could help me to make things right, and I was able to find an insurance policy that fit well with my budget and my lifestyle. The premiums were low and the coverage was great, which is almost unheard of these days. This blog is all about choosing incredible insurance coverage for you and your family, so that you can enjoy a happier, healthier life. Check out this blog for more information.
Have you ever known someone who purchased car insurance even though they did not own a vehicle? Most people have never heard of this, but it is more common than you think. When people purchase car insurance without a vehicle, they buy a special type of policy called a non-owners insurance plan. Would you like to know what this is and why people buy these plans? If so, continue reading to learn three essential things about non-owner car insurance.
1. What a Non-Owner Policy Protects
A traditional car insurance policy protects you and your vehicle. You must tell your insurance company what type, make, and model of the car you have, and they provide insurance for the vehicle. A regular policy also protects you if you borrow someone else's vehicle. So, what is a non-owner policy, then? A non-owner policy does not insure a particular vehicle. Instead, it insures you. If you drive cars that you do not own, a non-owner policy protects you and the vehicles that you borrow.
2. The Reasons People Might Buy One
Many people feel that they can save money by not having car insurance when they do not own vehicles. This may be only partially true. You will save money during this time, as you will not have an insurance bill to pay, but you might pay for it later. When you get insurance later, you might pay higher rates because you had a lapse in coverage. A lapse places you in the high-risk driver category of insurance rates. As a result, many people purchase non-owner policies to avoid lapses in coverage and then get charged higher rates when they eventually purchase traditional car insurance. People also buy these policies when they have to meet SR-22 requirements.
3. The Cost Differences Between Regular Policies and Non-Owner Policies
The next thing to know is about the costs of these policies. You can expect to pay less for a non-owner policy than a traditional policy. The actual costs vary, and you can find out the costs by talking to an auto insurance agent.
If you plan on getting rid of your car for a while but still want insurance coverage, you can choose a non-owner policy. A non-owner policy provides the coverage you need and protects you from experiencing a gap in coverage. You can learn more about this coverage by speaking with a car insurance agent.
To learn more, contact a resource like Angel Auto Insurance.
Share21 August 2020
