Loaning Your Vehicle
There are several situations in
life that may require you to loan your car to someone, whether it be a
relative, friend, or out-of-town guest. In any of these instances, it is
extremely important to make sure that your vehicle is properly insured.
If you donít acquire some form of insurance, you can be held responsible
for damage and/or injuries in the event of an accident.
Perhaps the best option in any of the aforementioned situations is to
purchase temporary car insurance. Temporary car insurance covers the
driver of your car for a shorter period of time than a long term
policy. When you loan out your vehicle,
it is possible to temporarily add an additional driver to your current
long term policy. However, this often involves a lot of paperwork and
hassle. In addition, if the person that borrows your car happens to be
involved in any altercations, the rates and benefits of your long term
policy can be affected. However, if you instead purchase a temporary
policy, you can save yourself a lot of trouble while protecting your
long term policy at the same time.
Most temporary policies include liability insurance, as well as property
damage and personal injury insurance. Some policies may also include
other features such as road side assistance, but these policies are
often more expensive. Before you decide on any temporary car insurance
policy, be sure that you understand all of the included features.
Temporary car insurance can also be beneficial in situations other than
loaning out your car. For example, if you are going on vacation and wish
to rent a car, you will need temporary car insurance. In addition,
temporary car insurance can help when you are purchasing a new vehicle.
Rather than picking the first long term insurance policy you come
across, you can purchase temporary cover so that you can legally drive
your new vehicle while you shop around for the best deal on permanent
Temporary insurance can be purchased for any amount of time from one day
to slightly less than a year. You can have your policy begin
immediately, or on a pre-determined start date. If you wish to apply for
such a policy, you can do so online or in a brick and mortar office. It
is also possible to compare prices from different insurers on the
internet. Be sure to compare policies before you purchase one because
prices vary greatly depending on the company.
In conclusion, temporary car insurance is an excellent option for those
who intend to loan their car to a friend or relative for any period of
time less than a year. Though it is possible to temporarily add another
driver to your policy, it is often easier to purchase a temporary
policy. In addition, accidents that occur under the temporary policy
will not affect the rates and benefits associated with your long term
policy. Finally, you can purchase temporary cover either online or in an
insurance companyís office.
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