In short: Yes, you should have some form of coverage whether or not you own a vehicle. Florida law already requires that you obtain vehicle insurance if you own a car, but the fact that you don’t own the vehicle you’re driving may not protect you from being held liable in an accident. There are three major reasons why you should consider holding liability coverage at all times:
- You Often Rent Vehicles: If you find yourself traveling by plane on a regular basis, then you may not need to own a car… but paying for insurance each and every time you rent could quickly add up to a large chunk of your pay. Non-owner policies will provide coverage for you at a far more affordable rate – and make it much easier to pick up a vehicle whenever you need one. Local insurance is especially helpful for anyone who only lives in Florida for part of the year and isn’t offered this kind of coverage by their primary insurance provider.
- You Borrow a Housemate’s Car: If your car was borrowed from a friend, you might be fine even if you get in a collision – but if that friend lives with you, then the damage might not be covered because you’re not on their policy and don’t have your own. The fact that someone else in your house has liability insurance will not automatically protect you under all circumstances – and if you still want to drive that vehicle, then you should understand the terms of its current coverage and seriously consider getting your own.
This is the most common situation where non-owner liability insurance is needed – many drivers using a housemate’s vehicle don’t realize that the vehicle isn’t covered and risk significant losses each time they go driving. Very few things are worse than getting a collision and expecting to be covered, only to have the claims denied because no coverage existed – and staying informed about coverage is the best way to avoid such problems.
- You Want To Buy A Vehicle In The Future: It’s true, some people do go without vehicles for a time – but maintaining some form of liability insurance will look better on your record and may even help you get a better deal if it’s reflected on your credit scores. These plans are also considerably less expensive than a full coverage policy, making them far more budget-friendly.
For more information about non-owner liability insurance, speak to one of our representatives at The Marcus Group.