• Cheap Short Term Car Insurance: A How to Guide

    Cheap, short term car insurance is one of the goals of drivers who only need to be covered for a short period of time. This is a thriving market segment, especially for travelling business people who do not necessarily own a vehicle yet need a method of transportation when in the United States or abroad. The essence of any short term car insurance is convenience and cost savings.

    The Reasons for Obtaining Short Term Insurance

    There are numerous reasons for wanting and obtaining a short term car insurance policy. One is when renting a car. The car rental industry is the largest user of short term car insurance. Every car rental agency must have at least one viable and effective short term insurance policy that can be easily quoted and written right at the car rental agency. The policy can also be quoted and purchased online by the customer if they so wish. The main benefit of enlisting and retaining an independent short term insurance provider is that there will be an effective symbiotic relationship.

    Another business that utilizes the short term car insurance product is the automobile dealership. This insurance product goes by the name of parking lot insurance and drive-away insurance, yet it is the same concept. The insurance binder that is written sometimes lasts only 10 minutes as the prospective car buyer drives the vehicle around the block and returns.

    The Leaders of the Short Term Insurance Market

    The leaders of the short term car insurance market are Provident and Sabre. These two insurance companies have a one-two type relationship in the world of the short term insurance policy market. Their policies range from 1 day to 28 days and everything else in between. The reason that these are the two largest providers is because they offer the widest selection of policies at the most competitive prices in all of the market. Both give the ability to print and instantly download the necessary insurance documents so that the vehicle can be driven off and be totally covered immediately.

    Policy Coverage

    A cheap, short term car insurance policy is akin to a traditional long term auto policy in everyway except length of coverage. The policy coverages are mainly in liability and property damage. The limits can be anywhere from $10,000 to $300,000 for liability and even higher for more expensive vehicles. The property damage coverage limits can range from the standard $10,000 to $500,000 which are predominantly reserved for larger fleet units of coverage. In the insurance world the cheapest short term polices are normally the ones that are very short in duration. In general, the most popular method for locating the cheap, short term car insurance quotes and policies is the Internet.