When people think about short term insurance, many are under the impression that it is for one year or one month and very few people will give a second thought about one day insurance. “What on Earth would I need insurance for one day only? What a colossal waste of money!” is one of the first things to pop up in people's heads when they think of this little used insurance option.
Reasons for One-Day Insurance
There are many reasons why one would consider one-day insurance policies. There are a variety of circumstances where you could use one day insurance and it depends on your needs. The largest market for one day insurance is for motor vehicles. Are you borrowing a friend's car for a trip that will last one day? Then you need one day insurance. Maybe your sibling does not want to lend you their van or their prized pickup truck because you are not part of the cover – whatever the reason; it is easily rectified by getting one of these ultra-short term insurance policies.
Types of Policies
As stated before, the largest market in one day insurance is the motor vehicle market. There are different sub categories: Car, Van and Bike. The single-premium that you pay can be highly influenced by what you are going to do with the vehicle. It could come in handy for those who wish to try out a motorbike on the racetrack for a day. Alternatively, you may need to borrow a truck for a day to pick up some supplies; whatever the reason, one-day insurance could provide adequate cover.
Another market is health and life one day insurance, though these are far rarer than those insurance policies involving motor vehicles. If you are going on a trip to New York, you want to make sure that you are prepared for any eventuality and as such, health insurance could conceivably save your life. Once you start looking at things in this manner then you will come to appreciate the options that are available to you.
Restrictions
However, because of the nature of this type of insurance, there are some restrictions. An example of this is the age limits imposed for one day car insurance. There are companies that will not allow you to take out one day insurance at all if you are under 25 or over 75. Then there are the compulsory driving record checks – while you may pay more for standard car insurance, if you are considered a bad driver you will not often get a chance with regards to one day insurance.
Choice is key
The best way to acquire one-day insurance is to simply search for it through a website that gives you multiple quotes from multiple companies. This can be done via any of the most popular search engines. Choice gives you power and it is possible to use that power to save money when you decide to purchase insurance.
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