Insurance customers often ask their provider questions about friends borrowing their car and who is liable for any damages incurred during the period when the car is lent out. Customers want to know both who is responsible to pay for it and how it might affect their insurance rates if there is an incident. This is not a simply question and the answer varies depending on the specifics of an individuals policy.
Because there are so many different types of car insurance policies, the different levels of coverage and different rules about lending your car out can vary widely depending on the individual structure of a policy. That being said, it is almost universally true that there are a great many situations where a borrowed car will be covered by insurance and there are also many situations where it will not be covered. It is always a good idea to get in touch with your car insurer to find out what the exact rules for your policy when it comes to this issue are, that way you can know before you let a friend behind the wheel.
There are some insurance situations where your insurance will pay for the necessary benefits, but the driver's insurance can also come into play. There are also situations where, if you do not have someone listed on your policy for the purpose of driving your car, then your insurance may not cover him or her and you may have to rely on any applicable insurance of the driver instead. This will also be different in states that have no-fault insurance, which can further complicate this kind of manner.
Regardless of the intricacies of insurance, in most states, if the person that you lend your vehicle to gets into an accident and there are injuries involved, you could be held liable because the vehicle is in your name. This means is that you could be sued for damages if your insurance or the driver's insurance doesn't cover all of the damages.
Regardless of the driver of a car in an accident, fault can be said to apply to the owner of a vehicle. Because of this, you might consider a good rule of thumb to be that when you lend out your car you also lend out your insurance and the potential to have it raised or cancelled in the event of reckless or dangerous driving. No matter who is driving, your insurance will find out about an incident and respond accordingly.
There are a few exceptions to consider when it comes to a borrowed vehicle that gets into a wreck. The first is the event of theft. If your car is stolen during a time when your friend has borrowed it, you are not held responsible for damages occurred during the theft. This same exception also applies if anyone takes your car without permission at any time and for any reason.
There is also an exception in most insurance policies for Valets, since valets at restaurants or hotels aren't immune to accidents. If you get your car back after dinner to find it damaged, you aren't liable. Instead, the valet service has its own insurance to cover damages. Talk to the valet management to get its insurance information so you can file a claim.
It is best to call and talk with your auto insurance representative to find out the specifics and details of your policy before you lend your car out to a friend. This way you can be sure that you are covered no matter what.
Because there are so many different types of car insurance policies, the different levels of coverage and different rules about lending your car out can vary widely depending on the individual structure of a policy. That being said, it is almost universally true that there are a great many situations where a borrowed car will be covered by insurance and there are also many situations where it will not be covered. It is always a good idea to get in touch with your car insurer to find out what the exact rules for your policy when it comes to this issue are, that way you can know before you let a friend behind the wheel.
There are some insurance situations where your insurance will pay for the necessary benefits, but the driver's insurance can also come into play. There are also situations where, if you do not have someone listed on your policy for the purpose of driving your car, then your insurance may not cover him or her and you may have to rely on any applicable insurance of the driver instead. This will also be different in states that have no-fault insurance, which can further complicate this kind of manner.
Regardless of the intricacies of insurance, in most states, if the person that you lend your vehicle to gets into an accident and there are injuries involved, you could be held liable because the vehicle is in your name. This means is that you could be sued for damages if your insurance or the driver's insurance doesn't cover all of the damages.
Regardless of the driver of a car in an accident, fault can be said to apply to the owner of a vehicle. Because of this, you might consider a good rule of thumb to be that when you lend out your car you also lend out your insurance and the potential to have it raised or cancelled in the event of reckless or dangerous driving. No matter who is driving, your insurance will find out about an incident and respond accordingly.
There are a few exceptions to consider when it comes to a borrowed vehicle that gets into a wreck. The first is the event of theft. If your car is stolen during a time when your friend has borrowed it, you are not held responsible for damages occurred during the theft. This same exception also applies if anyone takes your car without permission at any time and for any reason.
There is also an exception in most insurance policies for Valets, since valets at restaurants or hotels aren't immune to accidents. If you get your car back after dinner to find it damaged, you aren't liable. Instead, the valet service has its own insurance to cover damages. Talk to the valet management to get its insurance information so you can file a claim.
It is best to call and talk with your auto insurance representative to find out the specifics and details of your policy before you lend your car out to a friend. This way you can be sure that you are covered no matter what.
About the Author:
About the Author: Leigh Jackson is a writer and journalist for the Texas insurance industry. Jackson helps potential insurance buyers understand the complicated insurance industry and find cheap Texas car insurance policies and no credit check car insurance policies.
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