Who Gets Stuck with the Liability?

[Milkman1265]

say you have 300 CSL, and you lend your friend the car who has no car insurance.

He hits and injures someone for 500k.

Your insure covers 300k now who covers the next 200k? your friend (who is broke and have nothing to liquidate) or you who owns a house and a business etc...

 

[kgamarketing]

say you have 300 CSL, and you lend your friend the car who has no car insurance. He hits and injures someone for 500k. Your insure covers 300k now who covers the next 200k? your friend (who is broke and have nothing to liquidate) or you who owns a house and a business etc...

I believe its permissive use and you would be out the 200k.

 

[cottonland]

If you loan your vehicle you loan your insurance. That's why the running joke from a coverage standpoint is "never loan, always borrow"