Auto insurance for college kid - what limits, etc?
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Anonymous
| I doubt your insurance company will let you have a different amount of coverage for one person on your policy. Doesn’t work like that. Liability coverage applies to the policy, not the person. Your daughter would have to have a separate policy to have a different amount of liability coverage. |
Anonymous
| We pay for a separate policy, it was cheaper that way. DD is off our books when she graduates this spring. She needs to figure it out. |
Anonymous
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We just pay it all. It’s our form of passing on support to them while we’re alive and they’re alive while it can help them in the most useful ways.
They also all split a 10K / month allowance on a credit card, it’s weighted with the oldest getting the most since they have a life-threatening condition that needs constant medication and they need to pay in cash. |
Anonymous
You are stiooooopid to think that is what we did. I registered my 1971 Dodge I bought for $350 bucks in Florida a state with no insurance requirement at time with a phony address. No inspection either in Florida. when it died I left it on street . My parents forced it on me as needed car. I actually hit a BMW once. Guy gets out sees florida plate and a 19 year old at wheel of a beat up car. He goes in his suit I am guessing you have no insurance. I go yea car is registered in Florida so dont need it. He then goes I guess you have no money I go I am a college kid, my parents refuse to pay for college and I have loans so I have negative net worth. He goes Have a good night and leaves. He cant call cops no one hurt and I have no insurance card to give him. Oh he could of asked for license. But I did mailing address different home address. I picked an address out of phone book. Funny part I never got a parking ticket ever. I think cops knew pointless. Back when Florida had no car insurance requrment every piece of junk in NY in a bad neighborhood had either Albama or Florida plates as no insurance required. I would not do that to my kids. Except for scraping BMW no issues. I think that guy was drunk anyhow. He was coming home from somewher in a suit by himself on a Friday night at 9pm and looked a little redeyed. He was ok with leaving. I bet he told his wife in morning he parked car and someone must have rant into side. |
Anonymous
| Our kids have old beater cars in college in their respective states, so liability but no collision. No collision keeps the cost down |
Anonymous
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I don't understand why college kids away at school in another state even need a car.
"I would want some coverage in case they rent a zip car or borrow a friend - or are home on break." The coverage goes with the car, not the person. When your kid needs to rent a car, they can buy the optional insurance coverage. That will be much less than a year's worth of coverage. If they borrow a friend's car, the friend's car insurance is covering them. Most companies won't cover a licensed person who officially resides in your home for free though. So, they can drive anybody's car but your car and be covered. |
Anonymous
DC, 18, is a food runner making $18 an hour. He is hoping to become a server in February making $35-$40 an hour. They love him there. Always on time, never on his phone, and picks up extra shifts. School is easy for him. If it ever gets hard, he will drop the work until summer. He is driving uncle's car under uncle's insurance. They will give him the car when he is not a new driver anymore in three years. |