If you drive a vehicle, even if you do not own it, you may need to have a policy to protect yourself and the vehicle owner. Lots of people who live in cities where transportation is common and cheap choose to go without their own vehicles. They may pass on car ownership to save money, be more environmentally friendly, or just to save trouble.
However, some of these people do need to use a vehicle several times a year. They may rent or borrow a car quite often. If so, a nonowner policy may be the most affordable and convenient option. Frequent renters will certainly save money by buying their own policy. Even if you just borrow cars a lot, having your own policy is a safer way to protect yourself.
How Much Do Non Owner Policies Cost?
Prices will vary by location, type of coverage, and drivers. However, you can usually purchase a typical policy for a few hundred dollars a year. The rates are lower than they are for covering a vehicle that you actually own and use every day.
You can purchase a nonowner policy from any auto insurance company in your local area.
When Do Non-Owners Need Policies?
The most obvious example of a nonowner needing auto insurance would be in the case of renting a car. Sure, you can always purchase a policy at the rental company, but these cost several dollars a day. If you rent often, the charges can really add up.