covers an individual for bodily injury and property damage when they are driving a vehicle they do not own. Generally, these policies are cheaper because they are not insuring a vehicle and coverages for that vehicle. They are purchasing just the bodily injury and property damages that will extend to a non-owned vehicle. There’s also a possibility you can talk to your employer. They may be open to adding a broad-form drive other car endorsement that will cover you and your licensed family members while driving cars you borrow or rent. With this option, I suggest getting your own umbrella policy, too, just to be absolutely sure everything is covered. This will likely cost less money than the named non-owner policy. The cheapest but riskiest option is to forgo getting your own insurance. If you do this, only drive your company car and never be the one to drive carpool to lunch or offsite meetings due to co-workers’ injuries not being covered. ANTIQUE AND CLASSIC CARS Many car enthusiasts own antique and classic cars, and these require a special kind of consideration. First, it’s important to insure the car for the collector’s value, which will likely be higher than the car’s book value. Some insurance companies offer an option of sending in photos and getting a professional appraisal to get stated amount coverage . The stated amount value determines your vehicle’s rates, not what you’ll receive if your car gets totaled. While this type of coverage tends to cost less, I don’t generally recommend this because your car’s valuemay go up, and then your insurance won’t fully cover it. Also, the insurer gets the better end of the
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