Generally, most insurance companies usually don’t offer weekly car insurance and only provide a minimum of six months or 1-year car insurance policies.
However, not everyone wants to buy a full auto insurance plan, and for those, getting a 1 week car insurance is more feasible. Temporary auto insurance is a great option for many people because you only have to get this insurance for the time period in which you have your rental car or if you need coverage for a car that isn’t yours.
We interviewed Laura Adams, Insurance & Finance Analyst at Car Insurance Comparison, to discover temporary car insurance uses and benefits that every car owner should know.
Laura Adams is one of the nation’s leading finance, insurance, and small business authorities. Let’s listen to her insights as to why getting temporary car insurance is an easy way to cover up the gaps when it comes to your insurance policy.
What is a 1 Week or Temporary Car Insurance?
Weekly car insurance is a relatively new coverage option for those looking to help pay for short-term ownership of vehicles. These plans are mainly meant for those who will be borrowing or renting a vehicle for a small amount of time, such as students on college breaks, workers going out of town on business, or families planning road trips for vacation.
However, this type of insurance is hard to find, even though it can be very convenient and less expensive than your typical monthly car insurance policy.
The Uses of 1 Week Car Insurance
There are myriad benefits of using a 1 week or temporary car insurance; however, to help you, we’ve listed down only the main ones that you can easily relate to.
#1: Driving a newly purchased car
If you just bought a new car and want coverage yet, you’re not sure about which annual plan you should get, then 1-week auto insurance can provide temporary coverage to your new car until you find the best car insurance deal yourself.
#2: Borrowing a van from someone
People usually borrow a large car or van to transport a piece of big furniture or move house to move stuff easily. These tasks are limited to a few days, and here 1-week car insurance can be great to provide you short-term coverage for that borrowed car.
#3: Driving Practise
If you’re someone new to driving and have started to practice car driving for a few hours a week, then weekly car insurance can be great for you. Later you can buy a proper annual auto insurance plan according to your needs.
#4: Using a personal car for work purposes
Suppose, due to some reason; you need to use your personal vehicle for work or business purposes, then the annual insurance won’t cover it depending on the policy, which covers your car for only domestic use.
Or if you need to travel to some other city to attend a conference for some days and you’re using a personal car for that. In these situations purchasing 1-week car insurance may be the best choice.
#5: Students during holidays
Students who don’t have their personal car when traveling or coming back home for a holiday usually drive their parents’ car to get around the city. Even though being a parent, you can add them to your annual policy plan; however, this can be an extra cost if your child is only driving a car a few days a year. Instead, getting 1-week auto insurance is enough and a cost-saving solution in this situation.
#6: For emergencies
In emergencies where you need to take care of someone or drive them to the hospital for a few days in their car, a temporary or 1-week car insurance can be suitable.
Takeaway:
While weekly car insurance might seem like the ideal plan, there are several things to keep in mind before committing to an auto insurance policy – and since this type of protection was made with renters in mind, consumers have reported being offered significant discrepancies as far as rates go as well as additional fees that might apply. So, you should conduct Car Insurance Comparison and research properly before purchasing any temporary or annual auto insurance plan.