Auto Insurance questions

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What bodily/injury and uninsured coverages are y’all carrying on your vehicles both financed and paid off.

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250/500/250

Your other two questions are beyond what I know. However, I would imagine removing him from your insurance and not owning the car limits your liability tremendously. And a hit on your insurance is a hit no matter what you do afterwards.

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1. Am I dangerously putting my personal assets at risk (home, other auto) by putting him under our policy? Would I be better putting putting the title under his name with his own auto policy? (Doubles the premium)

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If he lives at home and you claim him as a dependent on taxes I am betting (have to ask a lawyer on this for sure) that you can be named in any civil suit targeting him.

Gordon ain't got time to inventory your assets. He'll settle for your policy limit and move on.

1. Yes but he is already a liability whether he is on your policy or not. Not joking, just the truth from an insurance perspective.

2. Depends on your history but most likely, yes it will hurt you. If he is in the household and drives any of the vehicles, you are still going to get hit. Get him on one of those drive safe/snapshot things so you can monitor his driving. I know someone who said if they got a bad score on their driving, they lost their driving privileges. It worked.

3. Get a PLUP too

3.

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If he lives at home and you claim him as a dependent on taxes I am betting (have to ask a lawyer on this for sure) that you can be named in any civil suit targeting him.

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He’s headed to LSU next month living on campus. I can “not” claim him if that makes sense. I don’t know if I’m running myself in circles trying to overthink this. Just curious what others do?

[img]Get him on one of those drive safe/snapshot things so you can monitor his driving.[/img]
What is this? Sounds promising

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Get a PLUP too

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And this? Thanks

I was just a second driver on my dad's state farm. It was cheap, but that was 20 years ago. I also never got in an accident so there is that.

You used to get discounts for good grades and taking a driving class. Not sure about that anymore.

First, irrelevant to your son's situation you should have liability coverage to protect your assets beyond the point you are judgment proof.

I never practiced in LA so verify the law but I think LA only allows judgment liens on real estate. They also have a homestead exemption on the primary residence but IIRC it is pretty low.

More people than you would think are essentially judgment proof but to the extent you aren't you need an umbrella policy to cover excess liability not covered by other policies.

Hey there...without reading the other advice yet I will try to help...

1. You usually fare much better by adding a young driver onto your policy. There are several reasons why but I would suggest that for sure. This other bit if advice goes to another point and that is to make sure you have plenty of liability coverage. That is an across the board suggestion regardless of who is on your pplicy. I would do $500k/$500k/$500k if at all do-able and of course there are umbrella policies available fairly inexpensively for $1 million layers as well. If you do an umbrella, max out your home and auto sublimits first.

2. Unless your vehicle is being used with permissive use coverage, his accident should not hurt your record if you choose to isolate him with another carrier but if you do this, be sure he only drives the car on the policy you isolate him on.

3. Again, look at the highest limits you can afford on liability. Usually you can upgrade liability fairly inexpensively from your initial lower limits.

Hope this helps!

Donate the car to him and get him his own policy. Generally you won't ultimately be found liable, but it won't stop you from getting sued and dealing with the headache.