Pam "SFSOM" in TN Posted May 23, 2008 Share Posted May 23, 2008 Let's say you have a teen boy, 18/almost 19, and you have a chance to pick up an inexpensive old-ish car from a relative. If the car is titled in our name, we know we can just add him on to our insurance. But if the car is titled in his name -- he buys the car -- can we still add him on to our insurance? How does that work? Insurance would be USAA, so specific knowledge about them is appreciated, but any info from the Hive would be most welcome. TIA. Oh, I wanted to add that I know the caveats of adding him to our insurance. I don't much like it, but frankly, there's either the option of "no car" or "car using parent's insurance policy." We're fine with the "no car" option if it comes to that, but are more specifically exploring the "what if's" of ownership status. Quote Link to comment Share on other sites More sharing options...
JFSinIL Posted May 23, 2008 Share Posted May 23, 2008 I'd call your agent and ask them. We might guess and give you the wrong answer - don't want to mess around with insurance stuff, in case an error comes back to haunt you. Quote Link to comment Share on other sites More sharing options...
Pam "SFSOM" in TN Posted May 23, 2008 Author Share Posted May 23, 2008 I'd call your agent and ask them. We might guess and give you the wrong answer - don't want to mess around with insurance stuff, in case an error comes back to haunt you. Right, and we have and will. We clearly won't get the car titled in his name (even with him paying for it) without knowing the answer, but dh won't even ask that specific question (and I'm not taking this on my plate, IYKWIM) without some kind of assurance that yes, someone somewhere did it with this or another insurance company. I'm afraid it's an inexplicable guy pride thing; I think he thinks he'll get laughed at for asking a stupid question or something. Sometimes on some very random subjects (like cars, insurance, military weaponry) he gets funny when he doesn't intuitively know the answer to very esoteric questions. I can't explain it. I just whine about it here. :D Quote Link to comment Share on other sites More sharing options...
Anne Posted May 23, 2008 Share Posted May 23, 2008 My dd owned a car that we insured under our insurance while she was in college. This was State Farm Insurance. Anne Hope this helps your dh! Quote Link to comment Share on other sites More sharing options...
Kelli in TN Posted May 23, 2008 Share Posted May 23, 2008 We are insured through AARP's program which is underwritten by the company with the big elk? Buck? Moose? Anyway a big animal standing on a rock. What company is that? Of course I cannot find any insurance documentation right now to look up that company name so I am looking stupid here. But I digress. Anyhow, we titled our daughter's truck to her as a graduation present. We got a call from our insurance company a couple of weeks later. They gave us one week to get down to the courthouse and add my husband's name back onto the title or we would be dropped!!! So now it bears her name and her daddy's name so she can get the good insurance rate. Quote Link to comment Share on other sites More sharing options...
Quiver0f10 Posted May 23, 2008 Share Posted May 23, 2008 We recently called about adding a car for my oldest Dd and even if it's in her name only, as long as she lives with us, she can be under our insurance. This is with Allstate. Quote Link to comment Share on other sites More sharing options...
Danestress Posted May 23, 2008 Share Posted May 23, 2008 We have a 20 year old whose car is titled in his name but his insurance is through us - all on one policy. USAA has been really good to deal with. Quote Link to comment Share on other sites More sharing options...
Mandamom Posted May 23, 2008 Share Posted May 23, 2008 go because you got me curious. http://www.insurance.com/faqs/otherfaqdetail.aspx/index/20 Q: When am I too old to be covered by my parents' insurance policies? Answer: It depends on the type of insurance you're talking about. Regarding personal property protection, as long as you continue to live under your parents' roof, your personal belongings will be covered under your parents' homeowners' policy, no matter what your age. However, some policies may limit the amount of coverage on certain items that young adults are likely to own, such as state-of-the-art computers and stereo equipment. Check with your parents to see if there are any such limits in their policy. Once you move into your own apartment, you will need to purchase separate renters insurance to cover your personal belongings (your landlord's insurance will cover physical damage to the apartment itself). As for liability protection, your parents' homeowners' policy (or your renters policy, if you live on your own) will provide you with liability protection. In other words, the policy will cover you in the event someone sues you. As for auto insurance, if you continue to live with your parents and drive their car (lucky you!), then you are eligible to remain on your parents' car insurance policy. However, once you buy your own car, most insurance companies will require you to obtain your own insurance policy, even if you still live at home. The reason is that they want to avoid confusion over who actually owns the car. Unfortunately, drivers under age 25 pay higher insurance premiums because they are in a higher risk category. Some companies let you remain on your parents' car insurance policy as long as you live at home, even if the car is yours, but you'll need to do some research to identify those companies. Regarding health insurance, most health plans will cover you until you are somewhere between 20 and 24 years old, regardless of whether you live at home or at college. After this point, you're on your own. If you are a full-time college student, your college will likely offer a health plan during your college years as well. Many students, especially those who live far from home, choose the college's health plan over their parents' plan because the cost is competitive and health services and personnel are close by. After college, you (along with many other recent graduates) may find yourself without health insurance if you are no longer eligible for coverage under your parents' plan (or the college's plan) and you have not yet found a job with health benefits. Temporary options to fill this gap include short-term health insurance, catastrophic coverage, and COBRA. Back to Frequently Asked Questions Quote Link to comment Share on other sites More sharing options...
Doran Posted May 23, 2008 Share Posted May 23, 2008 We are insured through AARP's program which is underwritten by the company with the big elk? Buck? Moose? Anyway a big animal standing on a rock. What company is that? Of course I cannot find any insurance documentation right now to look up that company name so I am looking stupid here. If it's Mutual of Omaha, that will be solid proof that I watched WAY too much t.v. as a child. Quote Link to comment Share on other sites More sharing options...
Amy in Orlando Posted May 23, 2008 Share Posted May 23, 2008 If it's Mutual of Omaha, that will be solid proof that I watched WAY too much t.v. as a child. :lol: I was thinking the exact same thing. Didn't they host the wildlife show? Every time I hear Mutual of Omaha, I think of my grandma. We used to watch that show with her. Pam, thanks for starting this thread. This is all new territory for me and all of this information is helpful. Quote Link to comment Share on other sites More sharing options...
Kelli in TN Posted May 23, 2008 Share Posted May 23, 2008 :lol: I was thinking the exact same thing. Didn't they host the wildlife show? Every time I hear Mutual of Omaha, I think of my grandma. We used to watch that show with her. Pam, thanks for starting this thread. This is all new territory for me and all of this information is helpful. Okay, my husband is home from the movies and the answer is ...... The Hartford. Mutual of Omaha has an Indian chief head as their logo. Quote Link to comment Share on other sites More sharing options...
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