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Gant Insurance Gant Insurance
  • Home
  • Personal
    • Auto
    • Homeowners
    • Umbrella
    • Motorcycle
    • Personal Quote
  • Business
    • Commercial Auto
    • General Liability
    • Commercial Property
    • Business Owners
  • Life
  • Health
  • Carriers & Claims
  • Become An Agent
  • About Us
  • Blog
  • Contact Us
    • Write A Review
May 16
man holding out car keys

Insurance Coverage on Borrowed Cars

  • May 16, 2019
  • Archives, auto insurance, Blog, Personal Insurance

Consider insurance laws before lending out your car.

When you lend out your car, you might assume that the driver’s insurance will cover them in the event of an accident or damage event.  However, this isn’t usually the case.  In most states, including the state of Texas, insurance laws dictate that that auto coverage follows the vehicle rather than the driver.  So, here are some of the things you should consider before letting others borrow your car.

Because the car owner is financially responsible for the damages caused by their vehicle, it’s important that you know your coverage limits before you lend out your car.  In some cases, your auto insurance policy may impose lower coverage limits when your car is being operated by a driver not listed on your policy.  Additionally, there are some instances in which your insurance will not cover the other driver at all.  For example, if you regularly lend your car out to someone who is not a member of your household, or if you are lending your car out for business purposes, then your auto policy might deny the driver coverage.

If you frequently lend your car to someone that you do not live with, then you should add this person onto your auto insurance policy as an additional insured.  You should also take this step if you are lending your car out for an extended period of time.  This way, you can ensure that the driver has the coverage that they need.

This is what you need to know about insurance on a borrowed car.  Do you have more questions about your auto insurance?  If so, then contact the team at Gant Insurance Agency.  Our experts are ready to assist you with all your car coverage needs today.

 

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