What Is "Non-Owner" Auto Accident Insurance Coverage?
According Forbes.com, licensed drivers who do not own a motor vehicle may want car insurance in some circumstances.
If a driver frequently rents vehicles, having a liability insurance policy can help protect assets, like your house and savings, from a lawsuit. Rental car companies generally offer car accident insurance that may be purchased at the time of renting. However, most experts would agree, that having your own policy that also covers rental cars along with any supplemental collision insurance purchased from the rental car agency is a very good idea to protect yourself from either the parties involved in the accident as well as the rental car agency.
Non-owner car accident insurance typically covers:
- Medical expenses for those you injured in an accident.
- Property damage and car repair bills that you caused others in an accident.
- A legal defense in case you are sued for a car accident
Another coverage that is recommend that could be available for purchase with non-owner car insurance policy is medical coverage. It is advisable to check your state laws and to contact local car insurance companies for details on this type of coverage as it is often state specific.
There are two types of medical coverages that you should consider when you purchase non-owner car insurance coverage:
- Medical Payments Coverage (MedPay): This car accident insurance coverage may pay the costs of medical treatment for you and your passengers regardless who is at fault for the motor vehicle collision.
- Uninsured or Underinsured motorist coverage (UM/UIM): UM/UIM auto accident insurance coverage may pay for medical expenses when you or your passengers are hurt in an accident caused by another driver who either lacks car accident insurance or does not have enough coverage to fully pay for medical treatment. In some states, UM motorist coverage will also cover medical expenses in accidents caused by hit-and-run accidents. Each state laws are unique in this regard so be sure to check your state's laws.
It is important to make sure that your non-owner car accident insurance covers collision and comprehensive insurance to cover any car or rental car you will be using. Depending on the policy you choose, this coverage may also provide coverage from auto theft, flooding, fire, rioting, road hazard damage, broken windows, windshield damage, paint damage, hail damage, collisions with animals, vandalism, and damage caused by falling objects.
If you are using a car for business or work purposes, understand whether or not your non-owner car insurance policy will cover you. Work use or business use is a common exclusion for non-owner car insurance coverage.
Most major auto accident insurance companies offer non-owner car insurance. However, every state's laws that govern non-owner car insurance coverage are unique.
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