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“Hey! Can I borrow your car?” Five Questions We Recommend You Ask Before Lending Your Vehicle

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It is not unnatural for close friends or family to borrow your car, and you lend it without hesitation. But, ever stopped to wonder about who would bear the consequences if your car is damaged? The short answer: You would.

Lending your car is beyond the matters of trust. It is about relying on the driver's ability to drive safely or their caution towards the car's upkeep. Any damage to your car, in case of accidents, fires, theft or sheer negligence etc., will have huge financial consequences for you. Thus, before you lend your car to someone, we recommend you ask yourself and the borrower these questions to avoid any sourness in future!

1. Are they good driver?

This is perhaps one of the first things that comes to your mind when someone asks to borrow your vehicle. If you have been in the passenger seat with that person, you know what your car is in for. But, if there is no such history, it can be challenging to gauge. Thus, it is recommended to lend your car to those whose driving skill you can vouch for.

2. Do they have a driver’s license?

Given that carrying your driving license is mandatory along with the car's registration, PUC certificate and insurance policy, you should be upfront and ask this question. If your car is damaged in an unfortunate event or the driver is caught without a license, it could spell trouble for you.

3. Are they willing to pay for the damages in case of an accident?

If you have a close relationship with the borrower, this might be a tricky question to ask. Do it nonetheless to avoid future awkwardness. Also, it helps to clarify this beforehand so that both parties are clear as to who foots the bill in case of an unfortunate event. Also, do let them know if you intend to enjoy your No Claims Bonus benefit so they're aware of your hesitation to make a claim.

4. Why do they want to borrow your car?

Personal, whimsical reasons such as shopping or joyriding can be refused. Ideally, you should lend your vehicle only if it is a genuine emergency. Also, check how often and for how long your friend will be using the car. When used for an extended period, a car has higher chances of accidents, bringing down the No Claim Bonus of the car.

5. How cleanliness cautious is the borrower?

If an unhygienic, dirty surrounding is your pet peeve, then this one is a must for you. Be extremely cautious about lending your car to someone who does not adhere to your level of cleanliness, or else you'll be left with a car with cigarette stubs and fast food containers!

Is your car insurance policy up to date?

When lending the vehicle, ensure that your car insurance is up to date. Else, the borrower could be at the receiving end of a lot of hassle at the hands of the authorities. Also, it would mean no coverage for any damages caused during that period. Store the insurance papers in the vehicle and let the borrower know its location in case of any unfortunate incident.

Why is car insurance important?

Firstly, it is a legal requirement for your vehicle to be able to ply on public roads. If your vehicle gets involved in an accident, the insurance policy will help pay for the damages. While the borrower of your vehicle might be careful, there are other vehicles on the road that could cause an accident. In such cases, too, the insurance policy can pay for damages.

Key Takeaway

So, apart from asking the borrower the necessary questions discussed above, make sure your car insurance is in perfect shape with its documents up to date. Buying online car insurance is a great option if you have not done it already, as it will save you time and energy. Plus, you might get a discounted premium. Try to choose essential add-ons to make your policy as comprehensive and robust as possible. This will protect you, your vehicle and the borrower.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to policy wordings and prospectus before concluding the sales.

This blog has been written by:

S. Gopalakrishnan | Motor Insurance Expert | 40+ years of experience in insurance industry

A veteran in insurance industry. S. Gopalakrishnan is a name to reckon with in the field of reinsurance, he has headed the Reinsurance department and has rich experience in other fields of motor insurance. He loves to share his opinion on latest topics in the insurance industry and how he can help people in safeguarding their assets using insurance products.

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Few Other Articles:

• Met with a car accident – Here is what you should do

• Which Insurance Should You Buy for Off-Road Driving?

• Six Airbags for Passenger Cars to be Effective from October 2023

• What to expect if you are caught driving an uninsured car

• Four steps to disinfect your car while keeping your interiors spotless

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