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Started By
Message
re: Questions on teen drivers insurance
Posted on 4/14/25 at 12:14 pm to thejudge
Posted on 4/14/25 at 12:14 pm to thejudge
quote:
Wouldn't be cheaper to try to do an umbrella policy and put everything under 1 policy premium?
No, that's not what an umbrella does.
You have to have the underlying coverage with limits that will satisfy the umbrella coverage. When a claim happens that pierces the underlying limits then the umbrella will/should kick in to pick up the extra.
Ex. $300k in personal auto coverage....claim settles at $450k...umbrella picks up the extra $150k.
This post was edited on 4/14/25 at 12:18 pm
0
Posted on 4/14/25 at 12:19 pm to DCtiger1
Perfectly legal.
Titled and insured in Grandma's name and follows the rules of the insurance company.
Similar to finding loopholes on taxes.
You may not like it, but it's a loophole that's perfectly legal.
Titled and insured in Grandma's name and follows the rules of the insurance company.
Similar to finding loopholes on taxes.
You may not like it, but it's a loophole that's perfectly legal.
Posted on 4/14/25 at 12:47 pm to proudertider
quote:
Perfectly legal.
Titled and insured in Grandma's name and follows the rules of the insurance company.
Similar to finding loopholes on taxes.
You may not like it, but it's a loophole that's perfectly legal.
Without having the youthful driver listed as an exposure?
while using an address where the vehicle isn't garaged?
It's fraud. you can try to slice it any way you want. That isn't a loophole, you just got lucky you didnt get fricked.
Posted on 4/14/25 at 12:52 pm to DCtiger1
I agree. Just saying I have seen it from customers who just don't tell us they have youthful drivers.
Posted on 4/14/25 at 12:53 pm to hawgndodge
quote:
I agree. Just saying I have seen it from customers who just don't tell us they have youthful drivers.
happens all the time, see the post above of the guys tactic to save money
Posted on 4/14/25 at 1:23 pm to hawgndodge
quote:Almost verbatim as to what I was told. Basically any accident either at fault or not would trigger needing rating. Man I like the idea of not paying extra, but man I dont like the idea of being denied coverage. One is painful, the other devastating.
What they're doing is not rating him until he has an accident. State Farm will cover him and then require him to be added at that point.
Posted on 4/14/25 at 1:25 pm to proudertider
quote:I dont see how this is possible, but hell, I didnt think I would be told what I was told.
Titled and insured in Grandma's name and follows the rules of the insurance company.
Posted on 4/14/25 at 5:24 pm to randybobandy
This is a terrible idea. In Louisiana, you are responsible for the acts of your minor child. Raise your liability limits asap.
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