Ownership and Insurance

[scagnt83]

If my 21 year old kid is the Registered Owner of a car. I know she CAN still be on my Insurance.... but SHOULD she still be on my insurance?

What are the pros/cons of her staying on my insurance?

Im guessing her cost will be lower if she stays on mine. But Im worried more about the risk and liability issues created.

(she is in college and technically still considered part of our household)

 

[NY independent]

In NY, the registered owner must match the named insured, so she'd need her own ins here. The car that my college age son drives, that is registered to me (it's called "his car"), is listed on my auto policy, and he is listed as principal op. If it was in his name, the ins would cost north of $8,000 per year here. On my policy, it's $2,000. Buy a big umbrella, and pray.

 

[DonP]

It's funny this came up . I've been thinking about . I own one son's car who's 26 and we're both on the ins . I'm about to title it over to him and let him get his own ins . My other sons age 29 . He owns his own house . For yrs he owned his own cars but he was on a policy with both our names . The cars were in his name . If he were sued could be sued ? He's no longer driving the car so no liability there . Here's my question . His home and his homeowners is in his name with my auto policy . But he's getting a discount because he's still listed on the car ins even though he doesn't drive it . If a big claim happened on his house I wouldn't have any liability would I ? I'm not listed on the house ownership nor am I on home insurance policy . He just gets a discount

 

[DonP]

If my 21 year old kid is the Registered Owner of a car. I know she CAN still be on my Insurance.... but SHOULD she still be on my insurance?

What are the pros/cons of her staying on my insurance?

Im guessing her cost will be lower if she stays on mine. But Im worried more about the risk and liability issues created.

(she is in college and technically still considered part of our household)

Yes you have liability . If she has a big claim and they exhaust your car liability limits there coming after your assets . I'm going through that thought process now and I'm about to remove ny kids from my policys . I have way to much to lose and if necessary I'll pay the difference on there individual plans

 

[Allen Trent]

If my 21 year old kid is the Registered Owner of a car. I know she CAN still be on my Insurance.... but SHOULD she still be on my insurance?

What are the pros/cons of her staying on my insurance?

Im guessing her cost will be lower if she stays on mine. But Im worried more about the risk and liability issues created.

(she is in college and technically still considered part of our household)

Based on how you have stated she is 100% owner of the car, I can think of no legal liability you have in a car accident she is driving on a car she owns.

If you owned the car, or you were driving her car or she was a minor, yes you woukd have potential liability.

But a person can't sue the named insured of a policy that didn't own or operate or cause the accident.

Similar to if she went to the hospital and was sued for the cost of care. You couldn't be legally sued for her debts that she incurred unless she was a minor or you signed agreeing to the cost of care. Just because some of her hospital bills might be paid by your health insurance plan doesn't mean you personally would be liable for the care that wasn't covered by your insurance.

PS- not a lawyer, but others saying you are legally are responsible, need to cite cases where someone was sued for damages from something they didn't own nor did they operate it