Do You Need Car Insurance If You Don’t Have a Car of Your Own?

Do You Need Car Insurance If You Don’t Have a Car of Your Own?

Most people know they need car insurance in Colorado Springs if they own a car. However, they may not see the need for a policy if they don’t have a car at the time. Why pay for something if you don’t think you need it? What they don’t understand is if they have a driver’s license, they should have car insurance.

Reasons to Have Car Insurance

Even if you don’t have your own car right now, you still need to carry car insurance. There are several reasons it is important to be insured.

If you drive someone else’s car, you are required by law to carry car insurance. While a friend’s policy might pay for an occasional driver to drive the vehicle if there’s an accident, it won’t cover you if you’re a regular driver and not included on the policy. For instance, you may borrow your roommate’s car to go to work every day since you don’t have your own wheels. Because you are driving it more than occasionally, you need to be listed on the policy as an additional driver. This means you have car insurance even if you don’t have your own vehicle.

You may ride as a passenger in a vehicle. If you’re injured as a passenger, you may need to have car insurance. More health insurance policies are excluding car accidents for coverage with medical care. You need car insurance to pay for your expenses if you’re injured in a collision.

Another reason to have car insurance even if you don’t have a car is to reduce your rates when you do finally get your own vehicle. If you don’t have car insurance for any reason, you will have to pay more because of a lapse in coverage.

How to Have Car Insurance Without a Car

If you don’t have a vehicle, you can be added on to someone else’s policy as an additional driver. Many college students do this by being listed on their parents’ policy. It ensures they can drive a vehicle even if they don’t own one.

Another option is to purchase a special non-owner car insurance policy through a car insurance agency. It will cover you for liability protection if you’re in an accident and at fault. It won’t pay for damage to a vehicle though.

If you lease a car, have a car that isn’t running or are sick and not driving, you shouldn’t let your policy lapse. Temporary situations don’t last long, and you don’t want to pay for a lapse in coverage.

Maintaining car insurance is a lot better and cheaper than dropping it and picking it up later. You don’t want to risk being uninsured and involved in an accident whether as a driver or as a passenger. While auto insurance is an added expense, it’s not one you want to do without. You can talk to your agent about finding a policy that fits your budget. Just remember, you need car insurance even if you don’t have a car right now.

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