For Economic reasons, a friend wants me to purchase their car, but allow them to remain the primary driver.
Can someone help me with the insurance/liability issues this may cause?
I can put the car under my policy, no problem. But what liability does that NOT cover for this other person not driving?
Does auto insurance cover the liability for anything the car is responsible for, or does the insurance cover the Person?
Right now, they have insurance, but also for economic reasons, they want to cancel that.
Example
My car, with insurance. The driver is a friend without insurance. Friend is driving and gets into an accident. What am I, as the car owner liable for? (just assume normal collision, deductible and uninsured motorist on my policy)
And...what is this person does have some sort of policy that covers them driving, just not a specific vehicle?
Thoughts?
Thanks for the help!
Can someone help me with the insurance/liability issues this may cause?
I can put the car under my policy, no problem. But what liability does that NOT cover for this other person not driving?
Does auto insurance cover the liability for anything the car is responsible for, or does the insurance cover the Person?
Right now, they have insurance, but also for economic reasons, they want to cancel that.
Example
My car, with insurance. The driver is a friend without insurance. Friend is driving and gets into an accident. What am I, as the car owner liable for? (just assume normal collision, deductible and uninsured motorist on my policy)
And...what is this person does have some sort of policy that covers them driving, just not a specific vehicle?
Thoughts?
Thanks for the help!