How hard is it to disallow members of your family or friends from using your car, and is it something you can insist on- if you have to?
Friends and family seem to know our soft spots, and sometimes turning down a request from them is something we are not comfortable doing.
For instance, if they have an urgent appointment to catch up with or a dream road trip getaway that has lingered for too long on their bucket list, asking for permission to use your car might seem like an easy way out.
After all, that is what friends are for!
But before you allow your emotions to get the best of you, here are reasons why you should think twice before lending out your vehicle to anyone:
- Liability Costs
Let’s begin here:
Do you know that you will be held responsible for damages if your friend knocks someone off the street while driving your car? The only means of avoiding the liability costs as an absent owner is if your vehicle gets stolen.
Also, since there is a slim chance of knowing the routes your friends are likely to travel by and places they will visit with your car. It therefore raises concerns about the safety of your vehicle, as it could be stolen or damaged on the trip.
So, ask yourself if it’s really worth the risk.
- Effects on Your Auto Insurance
Sometimes, you may end up bearing the financial burden alone in the event that your friend or family gets involved in an accident while using your car.
And if you have ever wondered what effect lending your vehicle to your friend or family will have on the insurance premium of your car, the answer is not farfetched:
When a collision or any form of crash or damage happens while your friend is out with your car, the implication is that some insurers are unlikely to respond to a claim, and that could end up increasing your premium rate.
Hence, if you must allow anyone to drive your car, first find out if they are covered to drive, as it is better to play it safe than to risk raising your premium ‘unwillingly.’
- The Possibility of Losing Your Favourite Car
Imagine that it took you; a while to save up for your spec car, and for a reason or, another you decided to lend someone, only for them to return it in bad shape due to careless driving. Would you overlook the damages very easily?
Well, that is one of the risks you expose yourself to when you are quick to hand over your car keys to everyone you call your friend.
Likewise, if your car is an expensive Mercedes-Benz S-Class or Classy Ford Explorer, you already know that it requires some level of experience to navigate it successfully. So before you lend anyone your car, be sure they have the needed exposure.
- It Could Affect Your Good Driver Record
Here you are maintaining a good scorecard with high hopes that it’ll reduce the costs of your car insurance premium in a good way, but your friend, unaware of your intention, runs into a pole with your vehicle.
While you are checking to be sure that there are no casualties, it also slowly dawns on you that your ‘good driver’ record is tarnished.
Similarly, a parking ticket issued to your friend for an offense committed while driving (your car) will affect your driving reputation; hence it’s left to you; to decide if you still want to leave room for chances.
- Avoid Legal Drama
Getting through a lawsuit is not always an easy feat, as it’s both emotionally and financially demanding, but do you know you can subject yourself to legal battle if something goes wrong while your friend is out there with your car?
That is because they may not take as much precaution while driving as you would, and when there is a fatal collision, an illegal item found with them, or any such instance, you may have to share in the complicated criminal case, which could lead to a jail term.
Saying no when people want to lend your car does not make you an insensitive person, especially when you’re not confident of their driving experience. And if you must give a close friend or family your car for a while, always double-check that they are covered to drive other vehicles.
Disclosure: This is a partnered post