Did you know that every type of insurance is available in short-term covers rather than a year’s commitment?
For part-time drivers and car owners, a short-term policy can be extremely worthwhile if applied to car insurance. Weekly car insurance is a relatively new thing but has proven to be both reliable and affordable.
Short-term car insurance on a weekly basis includes coverage such as liability insurance, personal injury protection, collision coverage, and several others that are also included in standard car insurance policies
Consider this post your tell-all guide to weekly car insurance and if it can benefit your situation.
How Does Weekly Car Insurance Work?
How can something that usually requires long-term commitment be streamlined into just seven days? Quite easily, actually.
Insurance coverage rates are based on a daily basis as the insurance providers allow weekly car insurance coverage for up to six months. As the policyholder, you’ll also be able to add more types of coverage like comprehensive insurance and collision insurance of your choosing. Adding riders to the short-term car insurance policy, including uninsured motorist coverage or uninsured motorist protection, or adding additional drivers may also be options.
Not every car insurance provider may offer weekly car insurance, but you can still pull short-term insurance quotes and compare auto insurance companies that do. On your search, you may encounter monthly insurance as well. Always ask major car insurance companies about their short-term car insurance to see what they specialize in.
How Much Does Weekly Car Insurance Cost?
This is probably what you’ve been wanting to know since you started reading. As stated before, weekly car insurance is paid for on a daily basis. Average rates tend to be anywhere from $10 to $175.
The cost of your weekly car insurance depends on a variety of factors, including:
- Licensed driver’s age - This is standard for car insurance of any type as younger drivers, especially teen drivers, pay more. Weekly car insurance is also typically restricted to drivers under the age of 25 –similar to rental cars.
- Car being insured - High-end and luxury cars typically cost more to insure, and this is reflected in weekly car insurance rates. These are the cars that see a $175 daily rate for temporary car insurance coverage.
- Short-term car insurance coverage amounts - The amount of short-term coverage you decide to add on can naturally affect the cost of your weekly car insurance.
- Insurance provider and location - Everyone everywhere prices auto insurance policies differently. That’s why you should shop for weekly car insurance as if you were shopping for any other kind of insurance and keep your temporary coverage options open.
In comparison to obtaining a regular policy, which is normally a six-month policy or a 12-moth one, the weekly coverage car insurance policy is a more flexible and affordable option.
Is There Any Difference in Coverage Between Standard Auto Insurance Policies And Weekly Car Insurance?
In terms of the service and insurance coverage levels you receive, the only difference in weekly car insurance is its average cost.
Weekly car insurance more than qualifies with any state’s minimum requirements and offers just as much customization as standard car insurance. While weekly car insurance seems like a steal with their daily average rates, they can add up in the long term, making it undesirable for regular car owners.
The underwriting process of getting weekly car insurance is also the same as the one for standard insurance.
Who is Weekly Car Insurance For?
Any driver qualifies for weekly car insurance. They can be full or part-time owners of the car in question; there is no cut-off for who can get insured on a short-term basis.
That being said, the most common policyholders of weekly car insurance are those that rent cars for a limited time while on a road trip or a business trip. Weekly car insurance is known for being a low-cost alternative to rental car insurance provided by the rental company. Since rental car periods tend to be under six months, a temporary auto insurance policy is the most economical option.
Periodic drivers of cars also invest in weekly car insurance as they change vehicles frequently. Car insurance follows the driver and not the car, so weekly is ideal for car hoppers.
Be aware, though, that credit cards may include rental car insurance, which could eliminate the need for temporary car insurance policies.
Why is it Important to Get Car Insurance For Cars That You Don’t Fully Own?
Nearly every state has laws requiring drivers to carry at least a certain amount of basic liability car insurance, comprised of bodily injury or property damage liability coverage, also referred to as financial responsibility. It doesn’t matter if the driver owns the car or not. As long as it runs on the road, it needs to be insured.
Rental car companies offer their own insurance since they are the technical owners of their cars. Driving without insurance can result in penalties like license suspension, fines, and jail time if it persists.
Is There Anything That Weekly Car Insurance Will Not Cover?
Weekly car insurance has all the restrictions of basic car insurance. It will not cover damages caused by terrorism, legal and commercial use of the vehicle, and any driver not listed on the policy. Again, you can add additional coverages such as collision coverage, comprehensive coverage, and roadside assistance to your temporary insurance coverage policy to broaden your auto coverage insurance.
Whether you’re a new driver or interested in switching insurance providers, Insurance Navy can help with cheap car insurance rates no matter the risk you bring to the table.
Insurance Navy offers affordable car insurance quotes at no cost to you. Request an auto insurance quote online or give us a call at 888-949-6289.
