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What ramifications will happen if my child buys a car and purchases insurance while still on my auto policy ? |
My 20 year old daughter decided to buy a car for her boy friend. The car and insurance is in her name with my address. She is still listed on my car insurance policy. What should I do ? She has made a big mistake. Can I just have her cancell her policy and transfer the car to him and keep her on my policy. We do not want to be responsible for her boy friend in any way. I feel she has put me a risk using our address. It won't have any affect on you or your insurance. She was stupid to do this as these guys take advantage of young impressionable girls who are "in love". If he does major damage she will find herself liable. He might not even have a license. As the mother of 2 daughters I've seen a lot. she should get the car and insurance out of her name. The address does not matter. The thing to worry about is whether or not she is defrauding the insurance company by having it in her name when he is the driver. There is a reason he cannot or does not want it in his name. That is the snag that could make her liable if there is a problem in the future. Does she live with you? Than she has to use the address. The problem at hand is that if something does happen than he does not have to worry about a penny of it. If it is insured in you and your daughters name than u 2 are the ones taking the fall. Another thing, depending on policies, he is not covered driving the car. SO accident, insurance will not pay. Call your insurance agent ASAP and get the details and you may have to drop the car. Nothing wrong with this. you can have two claims if she gets into an accident. double the joy You could try to google it ,here is some direct resource might be helpful.http://car-insurance.online-tips.info/ca... |
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