Non Owners Insurance Policy Cost
Reader’s Question:
An employee in our company does not own a car but sometimes drives the company car. Can he get a non-owners insurance policy? How much would that cost?
Megan
Detroit MI
Yes he can. It’s actually a good idea to get a non-owners insurance policy for anyone who doesn’t own a car and can drive. At one point or another you have borrowed someone else’s car so you need to be sure that you are covered. There is a non-owner insurance available that gives a motorist, who does not own a car, liability protection when they are at fault in an accident or causing damage to a property, thing or even a person while driving a car that is not yours. Usually this kind of policy includes injuries and damage to properties liability. Medical payments maybe included as well depending on the insurance company. A lot of non-owner policies do not include collision or towing reimbursement because you will need a specific car to put the coverage on.
The price of non-owners insurance policy depends on the insurance company. It will also depend on the coverage of your policy. They will take a look at your record as well, if you’re a high risk or low risk. You may want to ask around so you can compare prices and choose the best non-owner insurance policy that suites you. People trying to get information especially regarding the risk program usually receive a reply right away. In case you don’t get a reply regarding these things, you may file a complaint with the state board of insurances. All of us are entitled to get coverage. It doesn’t matter if you’re an owner or a non-owner.
If you are about 24 years old and do not have any violations, a non-owners insurance policy may cost about $200-$700 per year. This amount is also affected by the requirements of the state on what the minimum coverage may be and the rating guidelines of the insurance company. This kind of policy is cheaper because you are at low risk, not having your own vehicle to drive whenever you need to.
