New Mexico Auto Insurance Quote

Reader’s Question:

I will be lending my vehicle to a friend for a few weeks or so since he will be taking a trip to his hometown for a vacation. Should I have him get a short term car insurance policy? I live here in New Mexico. I need help getting a New Mexico auto insurance quote.

David

Santa Fe NM

If you want to make sure that your friend and your car will be financially protected in case they get into a road accident, then by all means, have him get a short term car insurance policy. You don’t just only give yourself a peace of mind from worrying about having your car returned with damages, you also save your friend the financial trouble of having to pay for the injuries and damages that he might cause to other people during a car accident.

The difference with a short term car insurance policy to the regular car insurance policy is the duration or length of time that the policy is in effect. Thus, you save on money by not having to be bound to an annual car insurance policy when all you needed was to drive someone’s car for a short duration of time. As the name suggest, the short term car insurance policy should only be bought for temporary needs, a few days or weeks perhaps. Longer than that, you may have to consider getting a regular car insurance policy if it is cost-effective.

Basically, the coverage offered in a short term car insurance policy is the same as those offered by a regular car insurance policy. Your friend will have the state-mandated liabilities coverage in his short term car insurance, which will be used to pay for the damages and the injuries that he will cause to the other party in case of an accident.

Your friend will also have the option to purchase a collision insurance coverage that will pay up for any repairs to the damages made to your car due to a collision incident with something or a reckless driver.

Although not offered in some states, your friend can also avail of the medical insurance coverage that can pay for medical bills he and his passengers will incur in case of an accident involving your car.

Not only you protect your car with a short term car insurance, you also save your friend from the many responsibilities he’ll face in case of an accident with your vehicle.

It is important to ask your car insurance company if this is offered since car insurance rules and regulation differ.