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Gates-Cole Insurance

Gates-Cole Insurance is an independent insurance agency with 10 locations in NY representing over 45 regional and national insurance companies. Our team of professionals has in-depth knowledge and experience in Auto Insurance NY, Home Insurance NY, Business Insurance NY, Boat Insurance NY, Motocycle Insurance NY and all other areas of insurance. We have a genuine interest in finding the right solutions for you. We would like to become part of your insurance program, and participate in the planned growth of your future.

Nonowners Auto Coverage?

Shawna Kreis Shawna Kreis , 2/3/2016
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Say you operate a vehicle frequently, but don't actually own one. Nonowners Auto Insurance is the product you're looking for.

These policies generally provide Liability coverage only, which protects you if you're at fault for any injuries or property damage suffered by another driver or pedestrian. Nonowners Auto usually does not include Comprehensive, Collision, Towing reimbursement, or Rental reimbursement coverages. In many cases, you won't have to pay a deductible.

If you occasionally borrow the car of a friend or family member, the owner's Auto policy will cover any accidents. However, a Nonowners Auto policy can still pay off in such situations; for example, if the owner has low Liability limits.

This coverage might make sense if you rent cars regularly. Insurance sold by a rental agency is often expensive -- from $7 to $14 a day for a Liability policy.

However, bear in mind that Nonowners Auto insurance will not cover damages to a car you rent. For this reason, it often makes sense to purchase a Collision Damage Waiver -- commonly known as a "loss damage waiver" -- from the rental agency. Although this is technically not insurance, it will protect you from responsibility for damage to or theft of your rental. Some waivers also offer coverage from "loss of use" fees charged to renters while the car is being repaired. Waivers usually cost $9 to $20 per day.

For more information about Nonowners Auto coverage, please feel free to get in touch with us.