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Car insurance help for a teenager
Posted on 7/10/19 at 8:48 am
Posted on 7/10/19 at 8:48 am
Here’s my setup:
Purchasing a new large SUV for my wife
I have a company vehicle
18 yr old son is getting my wife’s 2012 highlander which is paid off. He will be starting LSU in the fall.
My questions revolve around how to annotate my son on the insurance.
I’ve been told by friends and actually one insurance agent to not put the 18 yr old as a primary even though he will be the primary driver at LSU. Is this even possible.
Also, if I don’t put the car in his name, what liability am I oppening up for myself?
Normally I would just put the car in his name and have him primary but the rates for him doing that are insanely outrageous. Any help would be appreciated.
Purchasing a new large SUV for my wife
I have a company vehicle
18 yr old son is getting my wife’s 2012 highlander which is paid off. He will be starting LSU in the fall.
My questions revolve around how to annotate my son on the insurance.
I’ve been told by friends and actually one insurance agent to not put the 18 yr old as a primary even though he will be the primary driver at LSU. Is this even possible.
Also, if I don’t put the car in his name, what liability am I oppening up for myself?
Normally I would just put the car in his name and have him primary but the rates for him doing that are insanely outrageous. Any help would be appreciated.
8
Posted on 7/10/19 at 8:51 am to Sheepdog1833
Posted on 7/10/19 at 9:30 am to Sheepdog1833
quote:Depends on the company I'm sure, but usually if you have 3 vehicles and 3 drivers, he would have to be primary on one of the vehicles.
I’ve been told by friends and actually one insurance agent to not put the 18 yr old as a primary even though he will be the primary driver at LSU. Is this even possible.
quote:You would be liable for him. His accidents become your accidents.
Also, if I don’t put the car in his name, what liability am I oppening up for myself?
quote:May make sense to increase your liability with your son on the policy. Premium is not going to be cheap, but it may give you an alternative. What's your liability now? Look at the prices of what it would cost you to go up a level or two before making a decision.
Normally I would just put the car in his name and have him primary but the rates for him doing that are insanely outrageous. Any help would be appreciated.
Posted on 7/10/19 at 10:13 am to Sheepdog1833
quote:
I have a company vehicle
this seems like the key. my folks had a company vehicle, and owned two in their names. i drove one, but to the insurance company, it was shown as 2 cars for 3 drivers (i was the third). the rates were much lower than listing me as a primary. i'm not sure if any of this is allowed with insurer, but some agents will probably give you same advice.
Posted on 7/10/19 at 11:22 am to lsujro
quote:
allowed with insurer, but some agents will probably give you same advice.
No biggie until there is an accident and the question is asked, "how long has the vehicle been garaged at LSU?".
Posted on 7/10/19 at 11:40 am to meansonny
Put the vehicle in the kids name and use lower limits....Done it twice. It was the cheap option for us. Paying 350/month for my 19 year olds 2017 dodge truck
This post was edited on 7/10/19 at 11:43 am
Posted on 7/10/19 at 12:04 pm to jralspanky
quote:This may or may not work out cheaper in every situation. A lot of insurance companies use credit as part of their rating criteria. So if the parents had really good credit that resulted in a better rating, now the 18 year old kid isn't getting that benefit anymore. Plus losing discounts the parents' policy had for things like multi-vehicle, homeowner discount, multi-policy bundle discount, etc.
Put the vehicle in the kids name and use lower limits....Done it twice. It was the cheap option for us.
Posted on 7/10/19 at 1:00 pm to Tiger Prawn
Can't speak for other but it was cheaper for us.
Posted on 7/10/19 at 3:02 pm to Sheepdog1833
I have a 20 yr old. Had progressive with 3 vehicles and was paying $8600 per year. I had 50/100/50 with $1000 fed. Moved to Geico with same coverage but now have $500 ded. Costing $5800 per year. Progressive had my daughter insured on my F250 as primary even though she drove a Honda Fit. Geico has her on the Fit as primary. I would give Geico a shot. They are buying up a lot of auto polices in LA.
Posted on 7/10/19 at 3:37 pm to lsufan1971
$5800 
I drive a luxury vehicle and mine is under $1000. Trying to fathom that much for auto insurance is mind boggling.
I drive a luxury vehicle and mine is under $1000. Trying to fathom that much for auto insurance is mind boggling.
Posted on 7/10/19 at 7:27 pm to Sheepdog1833
I grew up in a small town in GA and my parents just had me under their insurance up to high school.
Once I moved to ATL to attend GT they put the car and insurance in my name. The chance of an accident was exponentially higher and didn't want their assets to be at risk and I had minimal to lose. It definitely wasn't cheaper but it was the smart move.
Once I moved to ATL to attend GT they put the car and insurance in my name. The chance of an accident was exponentially higher and didn't want their assets to be at risk and I had minimal to lose. It definitely wasn't cheaper but it was the smart move.
This post was edited on 7/10/19 at 7:27 pm
Posted on 7/13/19 at 5:24 pm to jralspanky
quote:
Paying 350/month for my 19 year olds 2017 dodge truck
$350/month insurance premium or loan payment?
Posted on 7/13/19 at 5:26 pm to greenbean
Prob Ins.
LA rates suck.
LA rates suck.
Posted on 7/16/19 at 11:40 am to Sheepdog1833
Liability varies from state to state, but my parents never put anything I drove in their name or on their insurance. I plan to do the same with my kids. I plan on paying it for them but it will be in their name so god-forbid something goes bad, no one is coming after you.
Posted on 7/16/19 at 1:43 pm to Sheepdog1833
quote:
Also, if I don’t put the car in his name, what liability am I oppening up for myself?
You should have whatever liability on that vehicle as you do on your other. Your liability doesn't magically change from one vehicle/driver to another.
quote:
Normally I would just put the car in his name and have him primary but the rates for him doing that are insanely outrageous.
Not as outrageous as if he hurts or kills someone driving a car registered to YOU and there isn't enough liability coverage on that vehicle.
Put the car in his name and carry only minimum liability on it while he is in school (assuming he doesn't have any money or equity in his name anywhere). Unfortunately this is the cheapest way to go in Louisiana. But if he has any money or equity anywhere in his name, up those limits, baw.
Every vehicle owner/driver in Louisiana should have, in my opinion, a MINIMUM of 100/300/100. The risk is just too high to carry limits any lower.
This post was edited on 7/16/19 at 1:44 pm
Posted on 7/17/19 at 10:04 am to meansonny
quote:
No biggie until there is an accident and the question is asked, "how long has the vehicle been garaged at LSU?".
what does that have to do with covering the accident? answer: nothing.
Posted on 7/17/19 at 12:01 pm to Sheepdog1833
My only advice is don't give a teenager a car that needs full coverage. Give them a car you can carry liability only on if you must give them something.
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