Getting permanent Or Short-Term Car Insurance Coverage
If you are looking for short term car insurance you should know that you may not already need it. If you are thinking about getting car insurance for a short time period you are probably about to rent a car or borrow a means…
Renting a car:
The rental car service will offer you some form of accident protection, liability insurance, loss damage waiver, and/or personal effects coverage. You do not need any of these offered insurances as long as you have your own car insurance because the insurance coverage you have on your car transfers over to the rental means. It, however, does not move over if you are using the auto for some sort of business trip (something that is not as a hobby). In the following list you will find each of the 4 rental auto insurance possibilities and why you should probably skip each one…
Liability Insurance: All car insurance comes with liability coverage, which will move over to any car you excursion. Keep in mind that liability coverage does not protect you, your passengers or you car, but those around the car (pedestrians, character, and other cars on the road).
Loss Damage Waiver: This protects the rental car from damage or loss. Some LDWs only cover damage to the car if you are found to be innocent in an accident. in spite of, getting an LDW is pretty pointless if you have collision coverage (which would pay for repairs to the car in spite of of who is at fault) and comprehensive coverage (which pays for damage or done to the car from things such as theft and collisions with wild life).
Personal Accident Coverage: It is very likely that you do not need this kind of coverage because you either have health insurance, Medical Payments Coverage, or Personal Injury Protection.
Personal Effects Insurance: Your renters or homeowners policy will pay for the loss of items not only in your residence, but outside of it in addition. If you want to insure something expensive, however, be sure to fill out a floater for that specific item.
If you are not absolutely sure if you are covered by your own car insurer, read your policy and, if you dont understand something, give your auto insurer a call. You should also know that if you pay for the rental car using a credit card, the credit card company may provide short term coverage for that automobile.
Borrowing a car:
A lot of folks surprise if they need short term or permanent auto insurance if they borrow someone elses car. Generally, no you dont. The borrowed persons car insurance coverage will move over to you as long as he or she gave you consent to use that car, making getting any kind of short term car insurance useless. However, there are some things to keep in mind…
The liability insurance of the person from whom you borrow the car may not be enough to pay for liability damage that you cause while driving their car. If you have your own car insurance, this probably isnt an issue. If, however, you dont have your own car insurance and are held responsible for character damage of bodily injury liability fees after an accident, the liability insurance that is transferred over to you may not be enough. Say you cause $25,000 in damage and the lenders liability coverage only goes up to $20,000. You are responsible for the additional $5,000, unless you have liability coverage yourself, which is at the minimum $25,000.
You can easily correct the aforementioned problem by getting a non-owners auto insurance policy.
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