It is a common practice to lend your vehicles to your loved ones or close friends, isn’t it?
Lending someone else your car is a big exercise of trust. A lot of us do this on a regular basis. After all, what good is a vehicle if it cannot be used by the family in the time of need?
At times, you might even share the vehicle with a colleague. You might think it’s a matter of how much you trust the person who wants to borrow your car, but in reality, there are many aspects that you need to consider before lending your wheels to someone else.
Here are just a few of the things that you should consider.
- The first step before handing over the keys to someone (your loved ones included) is to cross-verify if they have a valid driving license or not.
- Before you hand over your keys, ensure that there is a copy of the registration certificate and all other necessary documents in the vehicle.
- It might be helpful to find out where the vehicle might be driven in your absence.
- Do a quick inspection of all the electricals and important functions are working as expected, especially the brakes.
- Speak to the borrower and ask him not to let anyone else drive your vehicle but him/her (the one borrowing)
- A quick check on the odometer reading will offer you sufficient information. Whether the person adhered to the agreed-upon limits or crossed them. (If this is someone you don’t know too well, it's always better to check-in and be transparent about it.
- If you are aware of the driving history of an individual, consider the same before lending the vehicle as well. A person with a bad driving history might bring additional risk to the table.
- While this may not be a deal-breaker, it is worth considering just how tidy this person is. After all, you don’t want to get your car back and find a junk heap of dirt and fast food containers!
- Ensure that vehicle insurance is always in the car, failing to do so will attract a lot of unwanted attention to your vehicle. - This is very important and here is why...
Why Is Insurance Important?
Keeping vehicle insurance in your vehicle is important. For starters, vehicle insurance will ensure that your vehicle can be driven legally on all the public roads. If your vehicle were to be involved with an incident, your policy would come in handy and take care of all the damages.
The person to whom you are lending your vehicle might be extra careful regarding your vehicle. However, that doesn’t always guarantee the safety of one driving or the car. There are other drivers on the road and their carelessness might affect your vehicle also.
Having good vehicle insurance will ensure that your vehicle is covered against all odds while driving. When you are on the lookout for vehicle insurance, there are two primary ones that insurers usually offer. A third-party liability cover and a comprehensive plan. There are always multiple options with various premium amounts that you can choose from which would best suit you. If you do not already have vehicle insurance, ensure that you purchase one. Click here to know more
Hope we’ve given you points to consider before loaning out your vehicle to someone. It always pays to be cautious and we urge you to take the right steps to protect your interests at all times.