Friends And Family Members Are Covered Under Your Car Insurance Policy
There are times that family members or a friend may borrow your vehicle and you simply can’t just say no. But what if they met an accident? Who would be the one responsible for the expenses? If you and your friend both have vehicle insurance, your car insurance company will be the one who will shoulder the expenses aside from the deductibles. As long as you gave permission to the person involved, your car insurance company will cover the person as well as your car. More on this website @ https://falconins.com/car-insurance/
However, if the person who borrowed your vehicle had bodily injuries because of the road accident, the car insurance company of your friend will be covering for the expenses for the serious injuries. But your policy will be covering for the damages of the property especially if it was caused by your vehicle. Other than that, your car insurance company will also cover any expenses that need to be paid such as the legal fees if ever the other party will sue you. But by the time that the liability is more than your insurance limit, the court can get funds coming from your assets like your home so that you can pay for the necessary expenses to cover for the remaining cost of the damages. Remember that the liability coverage will never shell out money that is above your car insurance limit.
Unfortunately, there is a different case for those who will drive your vehicle without any insurance. This simply spells trouble. If in case that the damage caused by the family or the friend caused property damage or bodily injuries while using your vehicle and it exceeded your insurance limit, the other party who had injuries may sue you and ask you for financial aid for the expenses.
On the other hand, if somebody drove your car without asking for your permission, you are no longer liable or responsible for any expenses. Why? First of all, the vehicle was taken without your consent. Therefore, anything that happens while the vehicle and the driver are on the road is beyond your knowledge. If your friend or the family member has insurance, their company will be the one to pay for all the damages, may it be body injuries or property damages. However, if they do not have insurance, it will be your collision insurance that will pay for the damages of your vehicle. At the same time, the liability insurance will be covering any damage to the other party as a result of the road accident. But more often than not, the insurance companies will always assume that your family member or your friend will always have the consent to drive your car. Click on this link for more information about car insurance @ https://falconins.com
Just in case that your car was driven by a thief or simply stolen, there is no way that you will be held responsible for any damage and even in the damage that happened to the property of the other party. However, you still can use the collision insurance so that you can pay for the expenses when repairing your car.
Regardless of the scenario, it is wise to understand the intricacies of your insurance policy and exercise common sense when loaning your car to roommates, friends, and relatives. **Remember, insurance mandates differ by state. Check with your state’s department of insurance to learn the rules and regulations where you live.
