I'm currently in the
US as a non immigrant worker and a resident of
Jersey City, NJ. I've recently got a NJ drivers license, I don't own a vehicle and been renting cars over the weekends to see places.
My Credit Cards cover the Collision Damage but I'm stuck with the state mandated minimum liability coverage. I don't have significant assets here and I feel a bit vulnerable having only the minimum liability coverage.
I read about
Non-Owner Insurance online and it seemed like a good option to me but am finding it very hard to get a quote online and when I call companies, they either don't offer it in NJ or the premiums are insanely expensive.
Here are my findings -
- Geico - $800 for 6 months offer the State Minimum at this rate.
- State Farm - Contacted agent $1100 for 6 months for 100/300/100
- Progressive - Doesn't write this Policy in NJ
- Esurance - Doesn't write this policy in NJ
- Mark Lauria, found online agents - Wanted SSN over phone, had to say no
My question(s) are -
Does it make sense for me to get Non owners insurance? (My net worth is about $30K and I make about $100K an year)
What's a competitive rate for such policies? (I'm only interested in liability insurance, What would I get for $30/month. I would ideally want a 100/300/100 policy)
How do I go about finding these policies?
Given how expensive these policies seem to be, does it make sense for me to buy a junker for a couple of hundred dollars and get liability on that?
If anyone has recommendations for an Agent or Insurance company that would fit my bill, that's super helpful.