Putting Daughter on my Car Insurance

[Jodi1980]

My daughter is in the process of getting her own car (a used car). Someone told me that I should put the car in my name and add the car to my insurance. So, the car is in my name and I let my daughter drive it. It will save a lot on the insurance payments.

 

[powellrj]

is your insurance person someone you feel comfortable talking to? We were told there are advantages and disadvantages to both. Disadavantages would be if there was a claim or a ticket, you would be hit with an increase too, if something serious were to happen you could be sued because it's your policy. I know my cousin is our insurance person and his suggestion was to buy an older car and pay cash so you could just carry pl/pd and just have it in her name. I would just call and see what they suggest you do.

 

[phorsenuf]

Does she live with you? I know in my state it doesn't matter who the car is insured to (or owned by), if she lives in your house you still have to pay for her. I found this out when my DS bought his own car and tried to get insurance. I was unable to drop him from my policy because he still lived at home, I still had to keep him on my policy. I'm thinking it won't make much of a dufference in payments.....but I could be wrong. Wouldn't be the first time....won't be the last!

 

[luvmarypoppins]

I also had a thread on this not too long ago. Our agent told us to let ds get his own policy, no collision and go in the assigned risk pool, $2.900 versus over $4,000 to put him on our policy. We live in a high rate state plus if they are on your policy they can sue you. If they are on their own policy, the parents cannot be sued.

 

[TammiMcMan]

I think insurance laws vary from state to state. I'm in Massachusetts and we bought my daughter a car once she had her license. The car is in her name and the insurance policy is in her name. That is one very big bill, I can tell you. If we kept the car in our name, we would have had to insure her for each car registered at our house in order for her to drive it. We have two cars, so we would have ended up paying much more.

I'd suggest that you ask your insurance agent to price out the policy both ways for you.