1. 170 POINTS
    Steven Gates
    Sr. Advanced Markets Consultant, Ash Brokerage, Greater NYC Area
    YES, and if you regularly drive autos owned by others, including rental vehicles, you should purchase an auto policy. Since there won't be any need for physical damage coverage, your premiums should be extremely low.

    There are two important coverages provided by your own policy: 3rd party liability and uninsured/under-insured motorist coverage. Most of the time, the policy purchased by the owner of the auto you've borrowed will be primary, but the owner may have selected the minimum amounts of coverage. It's very possible for circumstances to result in losses that far exceed such minimal limits in which case having your own policy in place can save you from financial ruin.

    Having your own policy also protects you against the risk of inadvertently driving an auto on which the owner has allowed insurance to lapse; in the event of an accident, you as the driver will be solely responsible for any damages and medical expenses that result - both to 3rd parties and to the owner of the car you were driving.
    Answered on September 5, 2013
  2. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    Talk to your Insurance Professional about your particular situation. It may be possible to obtain want is referred to as a "named non-owner" policy. These typoes of policies would provide Liability coverage for you in the event that you are driving a car you don't own and cause an accident. These policies, however, do not typically provide any physical damage coverage (Comprehensive or Collision) for the car you are driving.
    Answered on December 2, 2015
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