Loaning your car to a friend or family member is something that most of us have considered and acted upon a at one point in our lives, whether it be for a quick trip to the grocery store or an extended loan while you’re away on vacation. While most times your car will be returned in the same condition it left in (albeit with some added kilometres), there are many unexpected incidences that can lead to an accident and you’ll be left with questions and a damaged vehicle. Beyond consulting with an insurance claim lawyer, here are some things you’ll want to know about lending your vehicle out to people not insured under it.
You are lending your record as well: Insurance claim lawyers will be quick to point out that when you decide to lend your vehicle to a friend or family member, you are also lending them the insurance and you’re undoubtedly good driving record along with it. Be sure to take the time to ask questions and know who you are lending your car out to. Simple questions like what kind of driver they are, how long they have been driving for, and if they will be the only ones driving your car. Getting to know the other driver may save you the visit to a repair shop and insurance claim lawyer.
Keep up to date on your policy: Being aware of what your policy covers is just as important as knowing the driver you’ll be lending your car to. If the other driver happens to get into an accident while driving your vehicle, there’s a chance that the insurance policy on the car won’t respond to the claim, leaving you to cover costs associated to damages and injuries in the accident. An insurance claim lawyer will be able to read your claim and let you know what exactly is covered in that event.
Not just a tank of gas and keys: When lending out your car, you are taking responsibility for any accidents that could happen. Unpaid parking tickets, speeding tickets and car impounding can all be out-of-pocket expenses on the owner of the car. Consulting with an insurance claim lawyer to be briefed on everything your insurance policy covers is a smart and safe bet before lending out your car.
All of these things are essentially echoing the same sentiment: be knowledgeable and cautious when lending out your car, regardless of the time and distance. If an accident does occur, consulting with an insurance claim lawyer is your smartest bet to ensure you are being covered by your insurance policy as best as you can be. If you have any more questions, don’t hesitate to stop into your local insurance claim lawyer’s office today.