NMB TY - LIR on car insurance when you don't have a car
Posted by
JenBro
Oct 26 '11, 12:33
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Pippy's right about borrowing a friends car and their coverage usually will cover you - but the policy you can get to cover yourself is called a Named Non-Owner and I actually have one myself because I drive a company car - not my own
It's not all that expensive - because I have it with the same company that insures my home.
The one potential problem you COULD have with a friend's insurance would be if there were a really serious accident where you both got sued - you as driver and friend as owner of the car - the limit of liability they carry may be insufficient to cover you both - and I'm pretty sure in that situation, the policy holder - or friend - is first in line to have the judgement paid - which leaves you possibly without coverage yourslf.
Probably pretty unlikely - I mean - you don't seem to me like you'd be a big risky driver or anything - but if you have assets and want to be sure they are protected - the named non-owner policy can be an inexpensive peace of mind. Definitely check with the agent that has your home insured though - because you might also get multi-policy discounts.
OH - also - if you rent a car when you travel - it's possible the named non-owner can cover rental cars for you too - which can save you on part of the rental car insurance charge - but just the liability - not the car damage waiver - because named non-owner doesn't cover the car damage - comprehensive and collision insurance.
OK - hope this helps! :D
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