If he doesn’t have the same address he can borrow the car anytime. Like I said grey area especially if insurance investigates and you have the car full time. Best to just not have it all the time, swap out cars. But for the amount he’s paying it would be cheaper to buy multiple cars it seems. Doesn’t seem like op isn’t in the position to own a few
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You have his liability now anyway. Additionally that’s why you need to be on the policy because the car is in your name. You can cancel the policy when he doesn’t need it anymore or change to a cheaper car then. If saving money now is the goal this might be your solution
It depends, and things may have changed since our generation was in college.
When my cousin went away to college the only way for his parents’ premiums to reflect that change and drop their sky-high rates was to drop him from the policy and sign a statement specifically excluding him from driving his parents’ cars.
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You are allowed to lend your car to your kids. Key is living at same address, also I’d be very shocked if you get denied in a claim worse case you will get kicked off for the future
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Happened in San Diego, man got in an accident and his claim was denied because he didn’t exclude his 15 yr old. So I would assume that not excluding your older child with a different insurance can result in a worse penalty.
Lived at his address
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How is age a protected class?
Ancient history.
Most insurers will now have the child listed as “away at college,” and this makes them “occasional drivers” on the policy. To exclude them and have them not insured is crazy anyway.
Of course they do. And so, All I was saying is that those with the least amount of driving experience is highly correlated with their age. It stands to reason that young people (teens) have the least amount of driving experience. Furthermore, I’m willing to bet that this age group likely has the highest incidence of accidents and traffic violations unless, somehow, that has shifted in the last 40 years to another cohort. I believe cell phone usage plays a role in accidents.
I know I have his liability but I have no choice right now. He is not 18 and cannot have his own insurance (that’s my understanding). There will be a small window between the time he turns 18 and goes off to college but enough to make a change.
I always like to save money but I’m mainly just trying to figure out when premiums start to go down. I don’t play around with insurance. The whole purpose is to cover catastrophes so I wouldn’t do anything even remotely questionable.
For people looking to deal with a high teen insurance cost Care by Volvo can be a great hack for teen drivers. Everyone in the household is covered with the included insurance. Talk to some of the great Volvo brokers or dealers here. The net cost may be pretty low for an all in lease your teen can use.
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It is more than a grey area- it is now called out in policy language. “permisive use” is the term- and you will want to see what the policy says about it. Most will read something like use more than 1 time per month or 12 times per year are not covered.
Insurance companies do not want to cover risks they have not collected premiums for. Breaking the rule is a fast way to get a claim denied and have to come out of pocket not only for your car, but the liability and property damage you caused.
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Wow Volvo doesn’t adjust the insurance premium based on the assigned drivers? Seems like an oversight… someone is underwriting the insurance for Volvo. They aren’t self funded on auto premiums.
In Florida as long your child has 3.0 gpa in school or college you get a discount of your insurance. They won’t tell you about it you have to ask.
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Florida drivers could save up to 10% on applicable coverages by completing an approved defensive driving course.
It’s liberty mutual which is pretty decent with younger drivers.
NJM has been very fair for my family. 4 drivers (2 teens).
-2 Teen
-2 Adult
-2 Cars Full Coverage, 2 Liablity Only. (22 Ioniq 5, 22 Bolt EUV, 07 Lexus ES350, 06 Saab 9-3 Combi)
-Never any accidents (knock on wood).
Annual Premium is 4200, and thats in NJ, where there are a lot of bad drivers. Over 10k a year is just crazy.
$20K what were you guys driving Escalade, G63 or Range Rover
So apparently you understand it, yet you had previously said this:
Was simply responding to what you said initially.
Same here in MD (not single house) for 4 adults and 1 teen:
- 5 drivers (4 adults, 1 teen just got her license)
- 4 cars (2 new acuras TLX and MDX full coverage, 2015 Corolla full coverage, 2003 Chevy Impala liability only)
- No accidents for last 5 years at least
Our premium was $4750/year, once we added teen with GPA over 3.0 to our policy - $120/month increase, so $6190/year for 4 cars 5 drivers.