Lyles Insurance
  • Home - Lyles Insurance
  • About Us
  • Contact Us
  • Blog
  • Request A Quote

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

9/22/2016

0 Comments

 
Picture
 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





​
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




0 Comments



Leave a Reply.

    Picture

    Author

    Dan Lyles is an Independent Insurance Agent serving Ohio, Indiana, Michigan, Pennsylvania, Virginia and West Virginia..

    Archives

    March 2021
    November 2020
    September 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    October 2019
    September 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    December 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    October 2015
    August 2015
    December 2014
    November 2014
    October 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    May 2012
    April 2012
    March 2012
    December 2011

    Categories

    All
    Things You Must Know When Buying Snowmobile Insurance In Michigan

    RSS Feed

Lyles Insurance copyright 2020
  • Home - Lyles Insurance
  • About Us
  • Contact Us
  • Blog
  • Request A Quote