Nearly every state requires drivers to have liability coverage before they get behind the wheel. But not everyone who uses a driver’s license owns a car. So, how do you know if you need auto insurance if you don’t have a car?
The answer depends on whether you drive, how often, and what car you use.
Do I Need Auto Insurance If I Don’t Have a Car?
Maybe. If you never drive, there’s no reason for you to have insurance. If you don’t own a car and only drive occasionally, purchasing insurance may not be necessary if the car’s owner has adequate coverage. But if you regularly drive, despite not having a vehicle, buying a policy might make sense. Having insurance can help protect you from shelling out thousands of dollars in out-of-pocket expenses if you’re in an accident.
When Do I Need Auto Insurance If I Don’t Have a Car?
Even if you don’t currently own a vehicle, here are some scenarios where you will need to get coverage.
1. You’re Buying a New Car
Almost every state in the country requires drivers to have auto insurance. If you’re buying a car and don’t already have coverage on another vehicle, you need to purchase insurance before driving your new (or used) vehicle off the lot.
If you already have insurance on a different car, your insurance company may automatically cover your new vehicle. But you need to call the insurer and let them know you bought a new car so that they can add it to your existing policy.
You typically have seven to 30 days to let your insurer know...
Read Full Story: https://www.kbb.com/car-advice/insurance/auto-coverage-with-no-car/
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