What is non-owners insurance and do I need it?
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Here is a transcript of the video:
What is Non-owners insurance and do I need it? Non-owners insurance is likely a term within auto insurance that you have never heard of. The definition of non-owners is “ a liability policy for a person who drives but does not own a car.”
Here are a few situations you may need a non-owners policy:
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You are renting or borrowing a vehicle.
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Your license is suspended and you are trying to get it reinstated.
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You are required to carry an SR-22 and you do not own a vehicle.
A non-owner policy is usually cheaper than a standard liability auto insurance policy. The risk is much less for the auto insurance carrier so that savings is passed down to the insured. Non-owner insurance does not cover your personal medical bills or vehicle in case of an accident. The most common reason to purchase a non-owner policy is if you do not currently own a vehicle. Non-owner insurance covers the liability portion only. It will not cover comprehensive and collision coverage for the vehicle you are driving. Insurance companies feel they do not know which vehicle you will be driving. So, therefore, they do not want the risk of offering comprehensive and collision coverage. The price of repairing or replacing a vehicle varies so much depending on its year, make, and model.
Not all insurance companies offer non-owners coverage. It may be best to find a nonstandard auto insurance agency that can quote you through numerous companies to give you several options to choose from. Here are a few auto insurance companies that specialize in affordable non-owners insurance coverage:
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Dairyland
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Progressive
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If you find yourself needing to purchase a non-owner policy then look no further to Cheapest Auto Insurance! We have the cheapest non-owner rates in Texas and Oklahoma. Give us a call or get a quote online at aautoandhomeinsurance.com!