Auto insurance is expensive for my teenager son. Are there any options for me to keep expenses down?
by Author on Thursday, May 27th, 2010 | 3 Comments
I'm makeing payments on truck for him, now that he can drive, do I have to add him to my insurance? And how much more will it be? I hear some parents don't tell there insurance, they just say there child is borrowing the car. But my son does not live in the same house hold , but is in another city over. Can I still just say he is borrowing the truck. If he gets in a car accident I understand it's on me, but will my insurancecand the law see it in that manner.
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If I were you I would contact your insurers and ask them directly, there’s no other way to be 100% sure..
You’re making payments on the truck? If the car is under your name in the registration you can just insure the car as your own while getting him a liability coverage.
In my case, all that was necessary was a different address of the car owner and that the car or any car wasn’t under my name.
I’m not an expert, only my experience. Went from a $250 insurance coverage which included me as a driver to a $41 coverage leaving me out of the car owner’s residence.
Your playing with fire if you try that "borrowing car" bit. It’s very EASY for an insurance investigator to prove it as fraud after your son is in an accident and someone is disabled or killed in it. Insurance companies have you by the throat (being kind) and know you have no choice than to pay out the nose. If you have the hundreds of thousands of dollars or even millions sometimes to play that game and hope there is no accident later, then go for it. Otherwise, welcome to America!