Ohio Broad Form Named Driver Auto Insurance Policy: FAQs, pros and cons

 Most people are not familiar with the term Broad Form Named Driver Auto Insurance. It is a special type of auto insurance policy that can be beneficial for many people. However, a Broad Form Named Driver policy (BFND) isn't available in many states. Of the six states I work in, only Ohio has BFND policies. While these policies may be ideal for some people, they won't work at all for others. So before you take out a broad form name driver policy, you need to understand exactly how the policy works and decide whether or not it will work for you.

• A broad form name driver policy can be very helpful to people for different reasons:

• A person who does not own a vehicle but needs to borrow other people's vehicles on occasion can use it as a backup secondary policy. This would cover you as far as liability in case the owner of the vehicle does not carry the required liability insurance coverage.

• A person who does not own a vehicle but needs auto insurance coverage with an SR22 filing. This usually applies to drivers who have lost their license and are required to carry the SR22 for them to get their license reinstated.

• A person who owns multiple vehicles and only wants liability coverage on those vehicles. With a Broad Form Named Driver policy, you only need to pay one premium to have liability coverage on every vehicle you drive (as long as it isn't for business or commercial use). This costs much less than having regular auto insurance, where you have to pay a premium for each vehicle.

If any of the above scenarios apply to you, then you may want to consider a broad form name driver auto insurance policy. However, a Broad Form Named Driver has some serious drawbacks as well:


Cons & drawbacks of a Broad Form Named Driver policy:

•   A broad form named driver policy only covers one driver, and that is the name insured driver listed on the policy. So if you own a vehicle you Can Not loan your vehicle out to anyone with this type of coverage! If someone were to borrow your car while you're only carrying this type of policy, you would be in big trouble if they were to get into an accident because there would be no coverage. This is very important to be aware of. If anyone else drives any of your vehicles, a BFND policy is NOT for you!

• A BFND policy does not offer comprehensive or collision coverage . So if you own a vehicle that has high enough value to require comprehensive and collision coverage (aka "full coverage"), this policy is not for you!

• A BFND policy does not offer add on optional coverages that are normally available with a regular auto insurance policy. This includes things such as Roadside Assistance, Rental Reimbursement, Towing and accessory coverage. The only coverage offered on a BFND policy is liability coverage, uninsured motorist bodily injury coverage, and medical payments coverage. Nothing else!

       As long as you fully aware of the limitations above and don't have a problem with the shortcomings of a BFND policy, then I will be happy to run a quote for you. Simply click on the link below. And as always, I run all quotes personally and privately.



Get an Ohio Broad Form Named Driver Policy quote with Lyles Insurance


Call me for a Quote





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Related Blog Articles:

Differences Between an Ohio Financial Responsibility Bond and a Named Operator Auto Insurance Policy

Understanding named operator (non-owner) auto insurance policies and how to get the best rate

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