What is Nonowners insurance? This coverage can be called nonowners insurance, non-owners insurance, non owner insurance, non-owned liability, and named operator insurance. Whatever you want to call it, they all cover the same thing. We will discuss what this type of insurance policy covers, who may need it, and how to get it.
Non owners insurance is an insurance policy that provides liability insurance for someone who doesn’t own a vehicle and doesn’t have regular access to a vehicle. NC law states that anyone wishing to get a drivers license must first have proof of liability insurance. This makes it impossible for anyone without a vehicle or living in a household without a vehicle to get insurance unless they purchase a non owners insurance policy. Once you take out a non owners policy, you will receive a DL 123 form which is simply proof of liability insurance as required by the North Carolina Department of Motor Vehicles (NC DMV).
The non owners policy will cover you for liability coverage when you are at fault in an accident in a rental car or a car that you borrow. It is important to make sure that you check with the insurance carrier that anyone in your household has under their owned vehicle to see if you should be listed as a driver on their policy. It is the guideline of a lot of insurance companies to list all licensed drivers with regular access to vehicles in the household.
Who Should Purchase a Non-owners Insurance Policy?
- People who drive company work vehicles
- Those who rent vehicles regularly
- Anyone borrowing vehicles
- Those wishing to get their license for the first time
- Those wising to get their license back
All of the above individuals would want to purchase a non-owned liability policy to protect their assets in case they are sued due to an at fault accident. In some cases your employer may require that you have a policy in force if you are driving company vehicles. Current monthly rates for non-owners liability insurance can run as low as $39 per month in Charlotte, NC and even less in the surrounding counties and cites throughout NC.
It is important to remember that a non-owned liability policy will only cover you for liability insurance (the damage done to others) and will not cover the comprehensive and collision coverage in the vehicle that you are driving. That coverage should be purchased by the owner of the vehicle under their auto insurance coverage.
The best way to get quotes for a nonowners policy is to call one of our helpful agents at 704-494-9495. We represent multiple insurance carriers and we have several that specialize in these types of policies which allows us to get the coverage you need at an affordable rate. Our trained and helpful agents look forward to answering any other questions that you may have.