If you're borrowing a friend's car for the weekend or loaning out your own wheels for a couple of days, you should have insurance to help cover any accidents. A short-term policy can cover borrowing or lending a car, or the time it takes your insurance to kick in after you buy a car. If you're driving your own car only on weekends, you may qualify for a lower rate on your insurance.
Contact your insurance company to see whether it offers a short-term insurance policy. You can usually cover other drivers for the vehicle without risking any no-claim bonuses that you have on your regular car insurance policy. These policies usually last one to 28 days. If you're looking to cover a single weekend or short period of time, this type of insurance will do the trick. If you need insurance to cover every weekend, you should find a different type of insurance.
If your weekend wheels are a collector's item, you may qualify for classic-car insurance. There are insurance companies that specialize in policies for collector cars, hot rods and custom-made cars. Often, the coverage has different mileage-based plans available, so if you primarily drive your car on weekends, you can choose a lower mileage plan for a lower insurance rate. If those weekends in the car involve car show visits, some firms even offer towing plans that cover car show visits.
Your Current Insurance
If you've changed your driving habits since you first insured your car, call your insurance company and let it know. If you've reduced your mileage enough, you may be able to lower your car insurance payments. People who drive to work every day or commute long distances regularly usually pay higher premiums than people who use their car occasionally or drive short distances. A significant change in your driving patterns may lower your costs by quite a bit.
Other Ways to Lower Costs
You may want to consider other ways to lower your insurance premium. The type of car you drive impacts the insurance. Usually, the more expensive the car, the more expensive the car insurance. If you can, switching to a cheaper set of wheels can save you hundreds of dollars in premiums. Also, if you've been accident-free for years, contact your insurance company to ask about a drop in your premium rate. Most companies offer discounts for drivers who have a clean driving record as well. According to State Farm Insurance, your credit history can impact your insurance rate. A good credit history can help keep your insurance bill low so try to pay all of your bills, including car insurance, on time.
- The AA: Short-Term Car Insurance
- American Collectors Insurance: Collector Vehicle Insurance Program
- American Collectors Insurance: Policy Features
- State Farm: Car Insurance Price -- What Affects Car Insurance Price?
- NHTSA. "National Statistics." Accessed Sept. 17, 2020.
- Insurance Information Institute. "Five Insurance Mistakes to Avoid... and Still Save Money." Accessed Sept. 17, 2020.
Darlene Peer has been writing, editing and proofreading for more than 10 years. Peer has written for magazines and contributed to a number of books. She has worked in various fields, from marketing to business analysis. Peer received her Bachelor of Arts in English from York University.