Driving a car you don’t own for an extended time can make you sticky if an accident happens. While the owner’s policy may cover some costs, you could still pay for repairs or injuries. This is where non-owner car insurance can protect you. But does State Farm offer this special type of coverage? Let’s find out.
What is Non-Owner Insurance Protection?
First, it helps to understand what makes non-owner car insurance unique. This type of insurance covers your liability in crashes when driving another person’s car you don’t own. Liability insurance pays for damage you cause to other parties – namely, their property (their car) and medical bills (their injuries).
Typical situations where folks need extra non-owner insurance include:
- Young drivers borrowing parents’ vehicles
- People renting cars frequently for trips
- Businesses allowing employees personal car use
In all cases, the non-owner insurance protects you on top of the existing owner’s policy up to higher limits if necessary. It pays for losses exceeding their coverage maximums.
Does State Farm Sell Non-Owner Car Insurance?
Yes – State Farm currently offers non-owner liability policies to drivers across the United States. Available liability coverage limits match your particular state’s minimum requirements.
You can also add supplemental coverages like uninsured motorist coverage or medical payments coverage in most areas for extra protection. But comprehensive and collision remain unavailable to the cars you drive but don’t officially own yourself.
10 Considerable Reasons Not to Lease a Car
Leasing a car may seem financially appealing, thanks to lower monthly payments. However, leasing has significant drawbacks that make purchasing a better car ownership option in many situations. Here are the reasons not to lease a car:
1. Strict annual mileage limits with painful overage penalties
2. Requirements to return vehicles in close to perfect condition
3. Expensive early lease termination fees
4. Inability to sell or trade in the car later
5. Responsibility for all maintenance and mechanical repair costs
6. Higher effective interest rates than traditional financing
7. Lack of equity accumulation while making payments over time
8. Potential restrictions limiting vehicle use prohibited
9. Steep late or missed payment consequences
10. No flexibility in retaining vehicles long-term if needs or attitudes change
Carefully weigh leasing limitations against your intended ownership timeframe, reliability risks tolerance across older cars, and budget management diligence before assuming this route fits best.
Lease a Car with Bad Credit | Here’s How?
Car leases often demand pristine credit for approval at the best rates. But those overcoming past score challenges can still secure wheels with some strategic moves to lease a car with bad credit:
- Allow 6-12 months for diligent score improvements before applying
- Keep credit pulls limited to avoid further dings
- Make large down payments, signaling commitment
- Seek out specialty subprime lease programs from dealers
- Provide ample income documentation stabilizing risk
Building assets and responsible behaviors proving you deserve another shot sways hesitant lenders understandably wary of providing leases allowing thousands in expensive asset access. But know that each small win pushes the odds favorably further down recovery’s road.
Can You Lease a Used Car?
Searching locally uncovers plenty of playable used car lease options through channels like:
- Franchised dealer off-lease certified vehicle programs
- Large used chains with internal lease-purchase financing
- Online lessor takeover sites transferring existing contracts
- Specialty subprime leasers taking risks on higher-mileage vehicles
Just ensure thorough inspections before signing any used car lease. Closely review mileage allowances, early termination clauses, inspection protocols, and maintenance/repair responsibilities defined or ambiguously omitted by slippery language. Previous owners inherently increased uncertainty advising conservatism.
The Bottom Line
Drivers lacking an owned vehicle still deserve affordable liability, but only insurance policies protecting finances from damage judgments beyond a borrowed car’s existing coverage – whether leasing, renting, sharing rides, or crashing with parents’ cars. State Farm indeed offers non-owner insurance fitting precisely these protection gaps.
Securing coverage early equips peace of mind if accidents later steer through life’s slippery roads. Comparing rates from national and local competitors ensures the best pricing, given each insurer weighs histories, demographics, locations, loyalty discounts, and countless other underwriting aspects uniquely.
FAQs
What vehicles can I drive under a non-owner policy?
State Farm’s non-owner insurance covers you when operating non-commercial passenger vehicles like sedans, coupes, trucks, and SUVs you do not legally own. It applies to borrowed, rented, and leased cars. Exotic vehicles may require special endorsements.
Does State Farm’s non-owner insurance cover rentals?
Yes, State Farm’s non-owner liability insurance protects drivers when renting cars, going above and beyond basic rental company-provided liability policies if you cause an at-fault accident. It prevents sizeable out-of-pocket expenses towards injury or damage expenses exceeding their base coverage caps.
Can I add comprehensive/collision with a non-owner policy?
Unfortunately, State Farm’s non-owner insurance only provides liability coverage – components like comprehensive and collision remain unavailable since the policy isn’t tied to insuring a specifically owned vehicle against physical harm, just your liability while driving unspecified non-owned cars.
Is there a mileage limit for State Farm’s non-owner insurance?
No, State Farm imposes no mileage restrictions on their non-owner insurance offerings. It covers liability insurance gaps while operating non-owned vehicles like rentals or borrowed family cars. However, clarify the details to ensure no misunderstanding around any mileage limitations potentially impacting you.
Will using State Farm’s non-owner policy increase my rates down the road?
Maintaining continuous auto liability coverage through non-owner policies helps secure lower premium rates when adding a permanently owned vehicle. So leveraging State Farm’s non-owner option in between cars may provide discounts compared to re-establishing dormant insurance after coverage lapses expire
