Should You Have Auto Insurance if You Don’t Own a Car?

Should You Have Auto Insurance if You Don’t Own a Car?

It is estimated that almost 10% of American households currently don’t own a car. Indications are that number is increasing. The rising costs of car ownership, availability of public transportation, convenience of ride sharing services and people choosing to live closer to their workplace are all contributing factors. Some even suggest that minimizing carbon footprints may be having an impact as well. Whatever the reasons, the facts remain; car ownership is trending downward. This is particularly true in urban areas and for younger families and singles. There are simply other options.

If you don’t own a car, does that mean you shouldn’t carry car insurance? Here are some factors to consider.

Will Your Lack of Car Ownership Be Temporary?

If you will just be without a vehicle for a few months, you may be better off switching to non-owner auto insurance. Insurance companies like to see continuous coverage and a gap in auto insurance coverage may end up costing you more in the long run. Plus, non-owner’s auto insurance is less expensive than traditional car insurance.

Will You Be Driving?

Just because you don’t own a car doesn’t mean you won’t be driving. If you will be borrowing a car from a friend or relative, getting your own coverage is responsible and wise. Their limits may not be sufficient to cover any damage you may cause and your insurance may shield you from any resulting lawsuits.

Non-owner car insurance is purchased individually, and does not cover members of your family. It only provides liability coverage (damage to others and their vehicle) and usually does not include a deductible. It is often significantly less expensive than traditional car insurance. Non-owner’s car insurance may help you save when not owning a car, while still protecting your interests when you drive.

Whether you own the vehicle you drive or are considering a non-owner’s policy, our independent agents can help. We have access to multiple insurance companies and can find a company to provide the coverage you need, at a price you can afford. Considering non-owner’s car insurance? It never hurts to compare. We invite you to compare with us.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Why You Need Business Insurance Even if You Rent Your Business Space

You Don’t Need to Have a Bricks & Mortar Store to Benefit From Business Insurance

Why Life Insurance Should Be a Fundamental Part of Your Financial Plan

How Are You Protecting Your Money Machine?

The Ten Most Frequent Causes of Automobile Accidents

Powerful Steps You Can Take to Reduce Car Accidents

Whatever Happened to These Rock Stars?

They Created and Performed Some of the Greatest Music of Our Time

Etsy and Ebay and Work From Home Businesses

Signs Your Hobby May Becoming a Home-Based Business

“Do Women Live Longer Than Men?” and Answers to other Other Life Insurance Questions

Interesting Answers to Some Common Life Insurance Questions

How States Determine If You Have Car Insurance

“Trust But Verify” Is the Attitude Most States Take

Are You Asking the Right Questions About Homeowners Insurance?

The Right Answers Often Begin with the Right Questions

Smartphones: How and How Much We Use Them May Surprise You

See How National & Worldwide Trends Compare with Yours

Own a Rental? You May Need Business Insurance

Do You Have the Appropriate Insurance to Cover Your Investment Property?

Leave a Comment