Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why not sell him the car for below market value, and tell him he needs to insure it himself?

You can just transfer the title to him then have him get his own policy.

If he gets in an accident, you're still getting sued and if he's a dependent there is a good chance you're still liable. If they get their own policy with low limits and your policy won't pay, there is a good chance that you end up being personally liable.

Not true at all if kid 18 and over. In fact I had a few mishaps in my car from 18-22 and since in my name and I had no money no one sued me or even filed a claim.

Anonymous wrote:

Anonymous wrote:Why not sell him the car for below market value, and tell him he needs to insure it himself?

You can just transfer the title to him then have him get his own policy.

If he gets in an accident, you're still getting sued and if he's a dependent there is a good chance you're still liable. If they get their own policy with low limits and your policy won't pay, there is a good chance that you end up being personally liable.

Anonymous wrote:

Anonymous wrote:My policy (Erie in MD) requires all licensed drivers living at the house to be included on our policy.

That is not actually Erie’s policy. If you don’t want to insure your child or spouse, Erie requires that you sign a waiver acknowledging your decision and your agreement to be personally responsible for any damages that occur as a result of the uninsured driver using your vehicle.

That is not the information I received. DS got his license just before going to college (with no car). I planned to not insure him and he would know that he would not be able to rent a cat etc. Erie told me that as long as he had a license and legally resided at our house, we had to include him on the policy (with a college student discount). They recommended not getting his license which did not make sense to us.

Anonymous wrote:Why not sell him the car for below market value, and tell him he needs to insure it himself?

You can just transfer the title to him then have him get his own policy.

Why not sell him the car for below market value, and tell him he needs to insure it himself?

Anonymous wrote:My policy (Erie in MD) requires all licensed drivers living at the house to be included on our policy.

That is not actually Erie’s policy. If you don’t want to insure your child or spouse, Erie requires that you sign a waiver acknowledging your decision and your agreement to be personally responsible for any damages that occur as a result of the uninsured driver using your vehicle.

This varies by insurance company. To investigate your options, you should call your insurance agent. Some have separate policies like when you have a room renter, that has their own policy. Others only allow that for separate cars. There is no standardized practices between insurance companies.

Thank you for your help. It seems, as I expect, I add him to our current policy.

My policy (Erie in MD) requires all licensed drivers living at the house to be included on our policy.

Anonymous wrote:Does he live at your house?

Yes

your main objective is keep your rate same, right? Give him the car and have him get his own insurance or add him to your policy and make him pay the difference.

Does he live at your house?

I have an old car that a 21 year old adult child would like to drive. I know my rates skyrocket if I add him to my existing policy. I assume the answer is no but wanted to ask if he can buy his own insurance policy for my car just for him for when he drives it. Thank you.