teens car-do you put in parents name?

[pixxi]

My daughter just bought her first car. Is it better to put the car in a parents name vs the teens. I then assume that it is better to say the 3rd car for the family is not for the teen when taking out car insurance?

Someone told me it's over a thousand more a year to put insurance in a teens name and list them as owning the car.

 

[BellsFam]

Maybe but that's they way my mom did it. She didn't want my accidents on her premium.

Her words "if you're old enough to have the privilege, you are old enough to accept the responsibility"... In this case paying a lot from my part time job for insurance.

 

[kymom99]

My insurance company strongly advised me not to put my car in my step daughter's name, so I listened to them. I wanted to because years ago my dad was sued following an accident caused by my brother.

So there are pros and cons. My son's car is in my name.

 

[Mandi Bartz]

My sons car is in my name, even though he paid for it. He is on our insurance as a listed driver. He pays the increase in adding him and the car, its like 134 a month for him. Was only 68 when we added the car, but it went up when we finally added him.

 

[susan137]

My son's car is in my name, but the insurance is still through the roof. Our deal with him is we'll pay the insurance, but the first ticket or accident that cause the premium to go up and he'll be on his own paying the insurance to cover his car.

 

[kymom99]

My son's (16) insurance is around $520 for 6 months. I know that varies by location and type of car. I make him give me $50 a month towards it. I know it would be much higher if the car was in his name. As of now, I exercise much control over where he drives and who he takes.

 

[BellePrincessBelle]

Our DD's car is in our name and it was only $1000/yr to insure her.

 

[verleniahall]

My first car was a and/or

**** ***** &/Or ***** ******

BTW - do'nt forget that you get BIG discounts on insurane if your child goes through drivers education - with our insurance, we got 6 months FREE and the next 6 were 1/2 priced. When I went to college I paid a "driving rate" of I think it was still 1/2 becuase it wasn't being used on a daily basis - just "out and about" a couple times a week, to church on Sundays, and home for holidays.

 

[Hikergirl]

My dd's car is in my name, and it is under $1000 a year for her, but not by much.

 

[cvjw]

Our insurance agent (State Farm) told us to keep the car and insurance in our names, and we have.

Purchased our 18 year old a 2014 Mazda 6 and the insurance premiums were $1150 every 6 months.

He is now 20 and the premiums have dropped to $900 every 6 months.

This is for $1,000,000 in coverage.

 

[tvguy]

How old a child? I don't think a 16 or 17 year old can own a car in some states since they are a minor.

 

[dina444444]

How old a child? I don't think a 16 or 17 year old can own a car in some states since they are a minor.

That's what it was like in California. When I bought my first car it was in my mom's name and I was an additional driver on the insurance since at 16 I wasn't allowed by law to have the car in my name. We went and had the car title changed at AAA when I was in my first or second year of college.

 

[tvguy]

That's what it was like in California. When I bought my first car it was in my mom's name and I was an additional driver on the insurance since at 16 I wasn't allowed by law to have the car in my name. We went and had the car title changed at AAA when I was in my first or second year of college.

I am in California, and my kids cars had to be in an adults name. Just like an adult has to sign for...and assume liability for.....16 and 17 year olds to even get a Driver's license.

 

[Claire&TheBoys]

We're about to buy a car from a non-driving family member for our almost-14-yr-old, and it's going to be in my name. However, when I was about 13, my dad and I picked out a classic car for him to restore for me (his hobby) and I know the title was in my name even at 13. We didn't register or insure it until I was 15 and learning to drive it. The car we're buying for our son will be stored until he's 15, so we're only titling it, not registering it or insuring it yet.

 

[JulieNMM]

I bought my DS a car but said it was a "family" car, so that it stayed home when he went to college, so his younger and older sisters can drive it when they are home. So I guess it's not really his car, but right now, he's the only one who can drive it. The car is in my name and is listed on my insurance. He is listed as an additional driver. We HAD Allstate and they said he would get a discount if he did their teen driver program, but after doing all the other driving training, neither he nor I felt up to it. He did get a small discount for good grades (As and Bs). Then we switched to Geico and saved a bunch. Our insurance is now about $1200 a year ($100 a month) more since adding him on.

 

[barkley]

I am in California, and my kids cars had to be in an adults name. Just like an adult has to sign for...and assume liability for.....16 and 17 year olds to even get a Driver's license.

with very few exceptions minors can't own one in Washington state either-in fact a minor who does OR a person who gifts/transfers title/ sells to a minor can be fined up to $250 or do 90 days in county jail (I've heard this is to discourage those who can't legally own/register/insure from using their kids or paying a teenager to register the car in their name).

My daughter just bought her first car. Is it better to put the car in a parents name vs the teens. I then assume that it is better to say the 3rd car for the family is not for the teen when taking out car insurance?

with our insurance our agent looks to which car is more costly to insure/who gets the better rate among our household-so as a lower cost to insure/'older' female driver I always get 'assigned' to the most costly car while dd gets assigned to the least costly. all 3 of us can drive any of the 3 cars so it doesn't really matter who is assigned to who.

our state requires drivers ed and training-so no discounts for that but dd did the insurance company's on-line drivers ed for a discount, gets one for maintaining a 3.0 gpa and another for keeping her mileage under a certain amount each year. I know some families with kids away at college (without a car) who drop the kids from coverage for the months they are at school (but add them back in for winter, spring and summer breaks).

 

[ceecee]

Our insurance said it didn't matter who's name is on the title. DH and my car insurance also went up because there were 3 cars and 3 drivers and she could conceivably drive any of them! Ours went up $1500 a year, I checked three other companies and they were all comparable, State Farms quote was lower on the cars but way higher on the houses.

 

[Denise W]

if you have the same number of cars as drivers, you can "assign" each driver to the car that is their's, and the premium will be rated that way. If you have more drivers than cars, the youthful driver will be rated on the highest rated car (even if they never drive it), which means the premium could be very high. Most people find that it costs them less to buy an older car for the youthful driver, just have liability coverage on it, and have the youthful driver assigned to that car.

Denise

 

[barkley]

if you have the same number of cars as drivers, you can "assign" each driver to the car that is their's, and the premium will be rated that way. If you have more drivers than cars, the youthful driver will be rated on the highest rated car (even if they never drive it), which means the premium could be very high. Most people find that it costs them less to buy an older car for the youthful driver, just have liability coverage on it, and have the youthful driver assigned to that car.

Denise

when our dd was newly licensed we had 3 drivers/2 cars. our insurance agent let us choose which car to assign her to so we chose the same car dh was assigned to in order to keep the premiums lower (but all of us could drive either car). when we purchased another vehicle there was another discussion with the agent to determine who would get assigned to each car (though all of us can drive all 3) to keep the premiums down.

I will say that one of the reasons I left state farm was because of some of their rules on rating drivers and what I felt (comparing with other companies) were excessive premiums.

something I will NEVER understand-having a kid get a driver's license if they have no desire/won't be driving for the foreseeable future. dd had no desire to drive until she was close to 19 but so many people said we should have her take the classes/get the license so she could 'ease' into driving-HECK NO. the minute a license is issued in our state the person has to get added to their existing (parent's) household auto insurance-no way were we going to pay more in premiums until we had to. get a permit-o.k., full blown license-nope.

 

[powellrj]

Our insurance won't let us put a car in a minors name. They also assigned the most expensive car in their name, so since we have 3 kids with a huge age gap, we could have bought a small island for what we have paid in car insurance. Our youngest graduates in 2 years, so DH and I will breathe a sigh of relief.