Exactly as the title suggests…
I used to be under a policy with progressive some years ago, but after I got into an accident that totaled my vehicle, I wasn't in a financial situation where I could just get a new car, so for the past few years I've been relying on friends giving me rides or public transportation. I work from home, so fortunately getting a car would be more of a luxury than necessity, and with me having a bit more job security (not 100%, but enough where I would feel comfortable getting a small loan for an old car worth like <5k or so), I want to save up over the course of the next couple of months for a down payment, or owning outright.
That being said, I've been uninsured for the past couple of years, and I understand having a lapse in coverage results in a higher rate than if you had continuous coverage. So my question is, would it be worth it to buy a Named Operator policy for the sake of starting that coverage (or even being put as a driver under my partner's policy and paying them the difference), or just wait until I start looking at a car and shopping around for quotes?
Should I Start a “Named Operator” Policy?
byu/SuperSecretAnon-UwU inInsurance
Posted by SuperSecretAnon-UwU
2 Comments
Absolutely. This is also referred to as “non-owner”. At least getting started with re-establishing concurrent coverage will work on lowering that rate down the line, plus this coverage will help if you do borrow a car and that car’s policy liability limits are low so you aren’t screwed financially if those get exhausted.
Consider starting a Named Operator policy or being added to your partner’s policy to avoid further rate increases due to a lapse in coverage. Compare costs with potential savings from continuous coverage when shopping for quotes later.