Are you someone who frequently borrows cars from friends or family members? Or maybe you are a visitor to the United States and need to be able to drive a vehicle without having to purchase one yourself. In these situations, non-owner car insurance can be a smart investment. It provides liability coverage when you are driving a car that you don't own. In this article, we will explore how to find the cheapest monthly non-owner car insurance.
What is Non-Owner Car Insurance?
Before we dive into the specifics of finding the cheapest monthly non-owner car insurance, let's first understand what it is. Non-owner car insurance is a type of auto insurance policy that provides liability coverage for bodily injury and property damage when you are driving a vehicle that you don't own. It is typically less expensive than standard car insurance policies because it covers fewer risks.
Non-owner car insurance is a good option for people who:
- Frequently borrow cars from friends or family members
- Rent cars frequently
- Use car-sharing services like Zipcar or Car2Go
- Need to meet the SR-22 requirement after a DUI or other major traffic violation
How to Find the Cheapest Monthly Non-Owner Car Insurance
Now that we know what non-owner car insurance is and who it's for, let's look at some ways to find the cheapest monthly premiums.
Compare Quotes from Multiple Insurers
Just like with standard car insurance policies, it's important to shop around and get quotes from multiple insurers. Not all insurance companies offer non-owner car insurance, so it may take some digging to find the right one for you. Make sure to compare coverage limits, deductibles, and premiums from each insurer to find the best deal.
Consider Usage-Based Insurance
Usage-based insurance, also known as pay-as-you-go insurance, is a type of auto insurance that charges you based on how much you drive. If you are only driving a borrowed car infrequently, usage-based insurance could be a good option because you won't be paying for coverage when you're not using it.
Look for Discounts
Just like with standard car insurance policies, there are often discounts available for non-owner car insurance. Some common discounts include:
- Good driver discounts
- Bundling discounts (if you also have renter's or homeowner's insurance with the same company)
- Low mileage discounts
Be sure to ask your insurer about any available discounts and see if you qualify.
Opt for Higher Deductibles
Choosing a higher deductible can sometimes lower your monthly premium. Just make sure that you can afford the deductible if you ever need to file a claim.
Final Thoughts
Non-owner car insurance can be a smart investment for people who frequently borrow cars, rent cars, or use car-sharing services. It provides liability coverage when you are driving a vehicle that you don't own. When looking for the cheapest monthly non-owner car insurance, be sure to compare quotes, consider usage-based insurance, look for discounts, and opt for higher deductibles if possible. With some research and planning, you can find the right non-owner car insurance policy that fits your needs and budget.
