You might not know it, but you can typically take out a short-term auto insurance policy someone else’s vehicle. This can be done to give you access to a vehicle without having to pay for an entire year’s insurance. Many short-term insurance policies are customizable to exact dates. You can sometimes even insure a car for a single day. This is a great feature that helps people get around the restrictions placed on auto insurance in the UK.
In this article, we’ll take a look at some of the various reason you may want to take out a short-term auto insurance policy. It can be a truly advantageous decision in the right circumstances. Keep in mind, short term rates are typically higher overall than if you were to pay for longer periods of time – but because your timeframe is so short, it still works out much cheaper.
If you’ve heard of short-term insurance, but don’t know what it’s useful for, we’ll explore the top reasons just below:
If you’re moving home, and you want to borrow a friend’s car that has much more capacity than yours, you can typically take out a short-term insurance policy. This will give you the rights to use the car to transport your goods in the timeframe that you have elected on the policy. Remember, you’ll need your friend’s permission.
If you’re heading on a road trip, and you want to borrow a family member or friend’s car, short-term insurance can come in handy. In addition, it might be worth purchasing short-term insurance for people who you are travelling with if you want to divide up the driving on a long-haul trip.
If someone in your family has been injured, it might be worth taking out short-term insurance to make sure that you can drive them around if they’re unable to do so themselves. For example, a broken arm may impair a family member from driving and result in you needing to take care of transport for a while.
If a friend is visiting from overseas or from another area of the country, it could be worth putting some short-term insurance on the vehicle to save them from having to rent a car. The only downside is that renting a vehicle can sometimes be cheaper, so make sure to check before you take out insurance on yours.
Things to Keep in Mind
You should always keep a few things in mind with short-term insurance. It is slightly expensive so you will want to make sure you’re going to use it before you take it out. In addition, you should always read the policy carefully to make sure everything is covered – you don’t want any nasty surprises. Lastly, if you have insurance on your own vehicle, this will sometimes cover you using other vehicles – check your policy to see if this is a feature you have. It can save you time and money.