If a friend asks to borrow your car, should you say “yes”? The answer depends on how much you trust your friend to drive carefully. Nova Scotia car insurance coverage follows the vehicle, which means that if you lend your car and your friend is involved in an accident, your car insurance rates will be affected. You may end up paying higher rates for a number of years because of an an incident that you weren’t even involved in.
When you apply for car insurance coverage from a new company, you can expect that your driving record will be pulled. Any accidents involving your vehicle will be noted on your record. Depending on the severity of the incident, you could end up paying higher rates for several years.
Rather than allowing anyone else to drive your vehicle, you may want to offer to drive your friend to his or her destination instead. That way, you are in control over what happens to your car. While you may be involved in an accident while doing so, you won’t be paying higher car insurance rates for something that wasn’t your fault.
If preserving your clean driving record is very important to you, it may be a good idea to adopt a policy where you never lend your vehicle to anyone else.