Reputable insurers rarely provide temporary car insurance. It is only available in six-month and one-year increments. On the other hand, some insurers offer policyholders the option of making monthly payments.
While weekly car insurance isn’t so common, this article will explain coping with short-term vehicle insurance needs, including when and how to get car insurance for unforeseen circumstances.
Why Is Car Insurance Important?
Third-party liability insurance is required for everyone who registers a car in the US. This policy does not cover expenses like automobile repairs.
It, however, covers the buyer if the collision results in property damage or injury to someone other than the driver.
So, What Does Weekly Car Insurance Mean?
1-week car insurance is short-term vehicle insurance that covers a buyer for a specific amount of time while operating a car, usually for seven days. The most common type of temporary cover involves a duration of 1 to 28 days.
But then, is temporary car insurance necessary?
The short answer is yes, and here’s why. Those who wish to drive a vehicle that does not belong to them and doesn’t have insurance coverage will most likely need auto insurance.
Although, they can get yearly insurance for that car or be added to the existing owner’s policy.
While all of that is true, it can be a costly and time-consuming process that isn’t worth it if the needed coverage is for a short time. This is where temporary insurance comes in handy.
Possibly a long driving holiday will happen, requiring a driver’s involvement. This other individual may be without insurance since he does not own a car or drive regularly. Obtaining temporary insurance allows him to go legally while also protecting himself financially.
How possible is it to get temporary car insurance?
The most common type of temporary cover lasts anywhere from one to 28 days. Someone who owns a car may cancel when not in use. This is to avoid paying for inactive months.
If you only drive occasionally, you should consider pay-per-mile auto insurance. Consider non-owner insurance, rental vehicle insurance, or being temporarily added as a driver on somebody’s auto insurance if you’re driving a car you don’t own.
So Under What Circumstances Should weekly car insurance be used?
There are occasions where one week’s vehicle insurance is the best solution.
In rare circumstances, a driver may require temporary automobile insurance coverage due to temporary relocation, whether for work, assisting family members, or another cause. The individual may need to use a car in this scenario, even though he does not drive at home.
If you’ve just purchased a new car for your 17-year-old and want to avoid the cost of making a temporary change to an existing policy, hiring a car for a week is also a good option. If you’re looking for the cheapest car to insure for a 17-year-old, find it out here.
It makes sense to pay just for the coverage you need in this and other cases.
Benefits of a week of car insurance
Easy to Get
Understandably, you may need coverage quickly or be in an emergency scenario that requires immediate coverage. Another benefit of temporary vehicle insurance is the speed, and it can be set up – in as little as 15 minutes!
This is much faster than going through the painstaking process of changing an annual policy. In addition, unlike a yearly policy adjustment, you will not have to wait days for your certificate to arrive in the mail.
Only pay for what you need
There are numerous scenarios in which an annual car insurance policy is unnecessary, and purchasing one would be a waste of money. Temporary insurance allows you to pay only when you need it.
A good example is teen drivers. Insurance for a young motorist is too expensive. When parents share a car, they may want to use it for enjoyment and rare occasions. Suppose you need to use the car while home for university holidays, or you’re currently saving for a car of your own and need a stopgap. In that case, temporary car insurance for new drivers means you won’t have to pay for high-cost insurance that you won’t use.
It isn’t just new licensed drivers who are paying the price. If learner drivers opt to train in their vehicles, they may face high insurance charges. This costs a fortune, but it also puts a person at risk of paying too much if you don’t need the complete policy.
No impact on your No Claims Discount
What is a no claims discount?
A No Claims Bonus (NCB), also known as a No Claims Discount, is an excellent method to save money on any yearly insurance contract. This perk can help you save a lot of money on your insurance.
It works like this: every year you drive without filing a claim on your insurance, you will receive a year of no claims discount. As a result, the longer you go without filing a claim, the higher your no claims bonus.
These reductions may total up to 70% of the cost, so having your NCD in place can be an excellent way to save money, making weekly insurance viable.
Although temporary auto insurance is not so common, it is now available with some reliable providers. Short-term car insurance has its advantages, and in some scenarios, it’s the best option. Speak with a few different insurance companies to see if they may help you change your coverage options for a particular situation.