When you lend your auto, you also share your auto insurance.
Typically, a guest driver is also covered under your policy. Should the guest driver cause a collision while driving your vehicle, your premium may increase. What to ConsiderUnder certain circumstances, you can lend your auto without naming a guest driver on your insurance policy. If you decide to lend your auto, keep the following in mind:
When you lend your vehicle, remember that you also lend your insurance record. Whether it’s a friend in a jam or a family member visiting from out of state, drivers borrow each other’s cars all the time. But what are the implications for your insurance coverage? Here’s what to ask before letting another driver head into the sunset in your vehicle—or before borrowing someone else’s vehicle. If you’re loaning out your car, ask:
You should also ask if they plan to drive the vehicle into Canada or Mexico. Customs officers are often on the lookout for stolen cars, so you may want to provide the driver with a letter stating they’re authorized to take yours across the border.
If you’re the one borrowing the car, ask:
Before you hit the road (or let someone else hit the road in your car), make sure you have the right car insurance coverage. Get a fast, free quote at geico.com and see how much you could save! By Kristen Koch |