TeamSuppose you are looking to insure your car for a short period. In that case, you may find yourself considering the short term insurance option, especially the ones being advertised gracefully on the internet. The big question is; is there such a thing as short term insurance? Depending on where you are, there may or may not be an option to insure your car for the short term. For example, in the U.S, temporary car insurance is generally unavailable, while in the U.K, it is common.
Most reputable insurance companies do not offer short term insurance for seven days or two weeks; they mostly deal with six months and above coverage. However, you can adjust your insurance plan to fit the temporary insurance. Let’s look at how to obtain temporary insurance and the types of short-term situations you should add to your car insurance plan.
How To Obtain A Short Term Period Insurance
Car insurance is majorly so annually or semi-annually, meaning you can access it for one month or one week. The premiums are also payable on a monthly or yearly basis. Therefore the only way you can obtain good short term insurance is by taking up the six months insurance and cancelling it along the way after you are done with it. You can pay monthly or decide to prepay the whole amount. In prepayment cases, the insurer refunds the overpaid amount. Additionally, most insurance companies do not have cancellation fees; therefore, you will not be incurring any extra expenses.
Short Term Situations To Adjust To Car Insurance Plan
Several circumstances will force you to go for temporary insurance. In such a case, you can call the insurer and the necessary adjustments to your policy. Here are some short term circumstances that will need to you to make adjustments to your plan;
Adding Someone Shortly To Your Plan
Are you giving your car to a friend or relative for a one-time errand? You will not need to add them to your insurance policy. However, if you have a chauffeur, relative or a house help who drives you and your kids around, then you will probably need to make them a part of your car insurance. When they stop driving your car, you can remove them. The rates you are paying currently will shoot but isn’t it worth having your car safe when they get involved in an accident. To include them in your car insurance, you will need the following from them.
- Name
- Year and date of birth
- Occupation
- Social security number
- Health condition
- Any traffic irregularities
- Gender
Short Term Insurance For Rental Cars
Going on a getaway, business trip or running errands, and you need to rent a car? Do not forget to take up a short term insurance cover so that you are covered in case of an accident. Most car owners will require you to have insurance when leasing their cars; therefore, you also need to talk to your lender about the type of insurance they need. Nevertheless, you need to be aware that most insurance companies do not insure cars that are rented for business. If you want to use the car for business, you can buy insurance from the rental agency.
International Car Insurance
If you are planning to drive out of your state, you will probably need short term insurance coverage from the state you are visiting. Other insurance companies may extend your insurance even outside your state. Thus, if you are an avid traveler, you need to ensure that your insurance company also offers international coverage. However, if yours does not cover such, you can always go for a temporary one. If you are visiting the U.S from a different country, you will have to produce your temporary insurance before you are allowed to drive around. If you intend to stay for a longer period, you will need an insurance policy from an American insurance company.
Placing Your Car On Storage
If you plan to store your car for months, it is best to insure it in case of theft or any other damage. A short term comprehensive cover may help you recover your car in case such unfortunate events take place.
Bottom Line
While many drivers would like to take temporary insurance, it is hard to determine a genuine insurer. Nonetheless, it does not mean that you cannot obtain it when you need it. It is possible to get one from a reputable company by making a six-month insurance purchase and cancelling later when you do not need it. You can also reach out to various companies and find out whether they can develop a unique package for your situation. Most importantly, always ensure you compare insurance companies and their rates before settling on one.
