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Pam's Insurance Site


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Pam's Insurance Site

When I bought my first house, I was already going into a lot of debt. I didn't have the money to seriously insure it, so I bought only the bare minimum without consulting an insurance professional. That was a big mistake on my part. It could have turned out alright. That is, if my house hadn't been in the path of a huge storm. Huge gale winds knocked a tree down straight through my roof. My house was practically destroyed, and my minimal policy didn't cover nearly enough. I spent years and years trying to get myself out of that financial mess. Since then, I have always been very cautious in learning about insurance and talking to the real professionals.

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Do You Need Car Insurance If You Do Not Have A Vehicle Right Now?

If you are in between vehicles and plan to live without a car for a while, do you need car insurance? Many people wonder about this, and the answer is that you might need it or you might not. It depends on your situation. Here are several things to know about having car insurance if you do not have a car.

You Do Not Legally Need It

The first thing to know is that you do not legally have to carry auto insurance if you do not own a car or drive one. If you do not have a car or plan to drive anytime soon, there is no reason you would need to purchase a policy. You can buy a plan, though, even if you do not have a vehicle. The policy is a non-owner auto insurance policy.

You Need It If You Require SR-22 Insurance

While most people do not legally need car insurance if they do not have a car, some still need car insurance if they do not have a car. If you must have SR-22 insurance, you should keep an auto policy even without owning a car. You can purchase a non-owner SR-22 insurance policy in this situation, and it will provide the coverage you need.

When people need SR-22 insurance, it is because they committed too many driving violations or one severe violation. People that need this insurance must keep it for three years in most cases. If they fail to maintain coverage, the three-year requirement starts over when they purchase a new policy.

Non-Owner Insurance Provides the Ideal Solution

Whether you need car insurance or not, when you do not own a car, you can purchase a non-owner policy. A non-owner policy is typically affordable, as it does not protect a specific car, yet it provides a way to have the coverage you need.

Many people choose to buy these policies to avoid lapses in coverage. If you sell your car and plan to buy a new one in six months, you might think that you can save money by canceling your auto policy. While this is true, canceling your coverage presents a new problem – a lapse in coverage. When you buy another policy, this lapse might cause an increase in your rates, as insurance companies view lapses as risks.

If you have questions about non-owner insurance, talk to a car insurance agent today.