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12-21-2010, 05:50 AM
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#1
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Junior Member
Join Date: Dec 2010
Posts: 1
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Insurance question
Our son wants to buy our extra car or RV which he has been using so far . Once the registration is transferred to his name, will he need to buy separate insurance too, or can he still be added to our insurance policy? He lives with us.
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12-21-2010, 07:52 AM
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#2
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Senior Member
Join Date: Oct 2005
Posts: 1,224
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I woul think if the car is in his name the insurance has to be too.Your insurance is for your vehicles not his.
BOB
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12-21-2010, 10:19 AM
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#3
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Senior Member
Winnebago Owners Club
Join Date: Nov 2002
Location: Spokane, WA
Posts: 1,545
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Call your insurance company and pose the question to them...they're the only ones who can accurately answer that question.
__________________
2014 Winnebago Aspect 27K
2011 Kia Soul
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12-21-2010, 10:55 AM
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#4
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Senior Member
Country Coach Owners Club
Join Date: Dec 2010
Posts: 7,557
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If you are smart, you will have the vehicle registered in his name and make him get his own insurance policy.
A friend of mine had the same situation and his kid got in a wreck. The other party sued and my friend almost lost his house because the policy coverage didn't go as high as what they were suing for.
The insurance agent advise was to get a separate policy for any kids that still live under your roof.
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12-21-2010, 02:59 PM
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#5
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Senior Member
Join Date: Jan 2010
Location: Tracy, CA
Posts: 239
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Always have your 18+ year old kids have their own insurance and their vehicles in their name solely. Kids still do silly things and you want to be clear away from any troubles that an accident can cause.
__________________
2002 Holiday Rambler 40 PBT
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12-22-2010, 08:05 PM
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#6
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Moderator Emeritus
Join Date: Jan 2000
Location: West Palm Beach, FL. USA
Posts: 27,096
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You can have as many vehicles as you wish under one policy as long as the driver(s) for each are correctly identified, but I strongly recommend that he have his own policy. For your protection.
__________________
Gary Brinck
Former owner of 2004 American Tradition and several other RVs
Home is West Palm Beach, FL
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12-23-2010, 12:34 PM
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#7
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Senior Member
Fleetwood Owners Club
Join Date: Jun 2009
Posts: 4,031
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My kids had their own vehicle insurance since they were 16. I did buy them a car, but put it in their name.
But that was around 30 years ago.
__________________
99 Discovery 34Q ISB
2014 MKS AWD EcoBoost Toad
Fulltime Since "99"
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12-24-2010, 01:23 PM
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#8
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Senior Member
Winnebago Owners Club
Join Date: Nov 2002
Location: Spokane, WA
Posts: 1,545
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Quote:
Originally Posted by dons2346
The other party sued and my friend almost lost his house because the policy coverage didn't go as high as what they were suing for.
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A GREAT reason to have umbrella insurance!
__________________
2014 Winnebago Aspect 27K
2011 Kia Soul
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12-25-2010, 08:12 AM
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#9
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Member
Join Date: Oct 2010
Posts: 34
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I have found in reading many insurance company policies, they all vary in levels of coverages. The lowest price may not be the best for you. As someone said earlier, have your agent define the coverages. As you have seen from all the advertizing insurance companies are doing, they want your business. The average RV owner usually has 4+ other policies with his insurance company
Duncan1
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12-26-2010, 07:50 AM
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#10
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Senior Member
Fleetwood Owners Club
Join Date: Jun 2009
Posts: 4,031
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Quote:
The average RV owner usually has 4+ other policies with his insurance company
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As a Full timer I am way below average.
I only have 2 vehicle policies. And they are with 2 different company's. That both cover 3 different vehicles.
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12-26-2010, 08:35 AM
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#11
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Member
Join Date: Oct 2010
Posts: 34
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The figure of 4+ includes Homes and Boats. I got this information from many of the actuaries who set insurance cost.
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12-26-2010, 09:07 AM
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#12
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Senior Member
Join Date: Jul 2010
Posts: 5,246
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Liability insurance is relatively cheap, and anyone driving a 15,000- 25,000 lb (Plus) vehicle should have as high a limit as their insurance company provides. You hit just one new Lexus with some people in it, and the tab will be quite high. The umbrella policy mentioned previously is also a good idea. And a second comment ... His car, his policy!
__________________
Tom
2016 Newmar Bay Star Sport 3004
2021 Jeep Gladiator Sport Willys
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12-26-2010, 09:29 PM
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#13
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Senior Member
Join Date: Feb 2010
Posts: 4,654
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Keep it seperate but ask...
In the current economy the person with the cash is in power...
By all means insure that the son is completely seperated legally from you, but check with multiple agents to see if there are "family" plans that offer discounts to seperate family members residing in same household with seperate coverages.
It costs nothing to ask, but might bear fruit.
Be sure to ask about possible issues with lawsuits relating to the fact that son is living in your household, a good lawyer might still be able to go after your home.
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12-29-2010, 04:04 AM
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#14
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Junior Member
Join Date: Aug 2010
Posts: 20
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If he lives with you, you can add him as an additional driver on your cars and be added as one on his car, and keep all cars under one insurance policy. This would be the cheaper way to go I guess. However, this would also mean that incase he does some damage to the car, your auto insurance rates would also rise as a consequence. Go with what others say and let him buy his own insurance.
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