If you were to ask people about the different types of auto insurance one could purchase, they would probably mention a number of the more popular insurance providers. What they would generally not do is mention the different variants of the traditional policy that exist. That is because most people may be completely unaware of the many different types of auto insurance that are available to them. This is unfortunate because there are many policies available that might fit their specialized needs. One of the most overlooked types of available car insurance is short term auto insurance.
As the name implies, short term auto insurance refers to a policy that is only intended to cover a vehicle for a very limited amount of time. The insurance coverage would be provided on a periodic basis as opposed to annual coverage. As such, this particular type of auto insurance policy could prove to be very cost effective for those that may not need insurance all throughout the year.
There are Numerous Reasons to Seek Out Short Term Coverage
Of course, some may wonder why someone would only need car insurance for a small portion of the year. The main reason is that the car might not even be on the street during the bulk of the year. A company car, for example, might only be in use during summer months. Throughout the rest of the year, the car may rest in a garage where it will not be accessed for use. Then, there are those individuals who may live in two different states during the year. When they leave one residence, they may leave for a full six months. The car is then placed under lock and key in the garage where it will stay. Such individuals would prefer a short term auto insurance policy since it will certainly save them money on a car that is in storage.
Then, there are other situations that many may not initially think of. For example, what if the individual only planned to own the car for a short time? That is, the individual may purchase a car with 175,000 miles at an extremely low price. His plans are to purchase a brand new car within the next four months and then sell his recent purchase as soon as possible. Considering it may take quite a while to find a buyer willing to purchase a car that may end up with 190,000 miles by the time it goes up for sale. For such an owner, a short term policy may be best.
Some Major Insurance Carriers Now Offer Short Term Coverage
Not all providers will offer this type of car insurance. Thankfully, a number of the major providers such as AIG do offer it. In fact, they may offer some excellent prices on comprehensive coverage. As such, it is recommended that anyone looking for short term auto coverage should seek a quote from a major provider. Acquiring a quote is fairly easy as mostly all major providers will accept quote applications via their websites. These forms are easy to fill out and if you wish to examine the different pricing and coverage plans should acquire a number of quotes. This way, it becomes easier to select a plan that is more agreeable to your individual needs.
Once again, short term auto insurance is available to those that may have need of such a unique policy. There is no reason to overspend or over insure your vehicle. A short term policy can eliminate this problem for you.