Owner vs. Non-Owner insurance Policy
Which Policy Do You Need?
While we’ll outline the basics between the two options, nothing can replace giving us a call and explaining your situation. There are many variable involved in choosing the right type of policy and we can quickly explain which route you should take. We deal with so many cases, it would be hard to conceive a situation we haven’t worked with yet. An FR44 or SR22 Insurance policy isn’t the same for everyone. We can explain not only which policy you should take, but we can also tell you why.
An SR22 or FR44 Non-Owner policy is also called a Named-Operator Liability Policy. This insures you, the driver, for any vehicle you may be operating; which you don’t own. They function as secondary coverage with the requirements as mandated by the State. In order to make a claim on a Non-Owner policy, you must have exhausted the coverage from the primary insurance on that vehicle. It should be noted that a Non-Owner Policy will not offer Collision or Comprehensive Coverage on the vehicle.Generally, you’ll find that a Non-Owner policy is FAR CHEAPER than an Owner policy. If you don’t own a vehicle, or if you aren’t going to drive your vehicle, a Non-Owner SR22 or FR44 is the way to go.
An SR22 or FR44 Owner policy will cover everything a Non-Owner policy covers, but it adds coverage for your vehicle as well. You can choose to add Full Coverage to your policy or you can keep the policy with Liability Only. If you’re financing your vehicle you’re going to want to carry full coverage (in fact your financing contract probably states that you have to). Many times, if you need an Ignition Interlock Device, the Interlock Company will require proof of an SR22 or FR44 Insurance Policy before they’ll perform the installation.