Our 23 yr old son, living in our home, is leasing his first vehicle. The car/lease will be in his name. He is currently an authorized driver of the vehicle on our policy, that are in my or my husband's name. Our agent is telling us we are not able to add his vehicle to our policy, since the lease is in his name - is this correct? He said it is not legal to do so. A call to another agent said we could add him as a 2nd insured, even though my husband and I are both named on the policy already. Any thoughts, comments? I don't want him to pay a very high rate to be insured on his own. THANK YOU!
Adding My Son's Car to Our Policy?
- Thread starter shercara
- Start date
Jack_Merton
Expert
- 63
I could only think that it would depend on your state law(s). I know I have friends that have added non-family to their policies before and it wasn't a problem. So adding your son with a vehicle that is not in your name should be fine but it really goes back to what the insurance laws say. Maybe get 2nd and 3rd opinions and consider changing agents?
- 117
I think the key here is that the car is TITLED in your son's name. Titles, tags and insurance should all match. Usually the only NAMED insured can be spouses or if all the cars are jointly titled.
Time for him to get his own policy. Ask your agent about spinning him off.
Time for him to get his own policy. Ask your agent about spinning him off.
You want the policy in his name. If possible though, you want to put the policy in your household so he can qualify for additional discounts (auto/home, multi-car, etc).
Some carriers can do this, some can't. Having him on his own policy, getting his own bill, etc, is all good. At the same time, you want the policy to be as affordable as possible.
If your agent can't have his policy be affordable, you may want to shop around. Yes, I understand this isn't a straightforward answer, but unfortunately, I'm not licensed in New Jersey and don't know the New Jersey rules. It makes a difference on this type of question.
Dan
Some carriers can do this, some can't. Having him on his own policy, getting his own bill, etc, is all good. At the same time, you want the policy to be as affordable as possible.
If your agent can't have his policy be affordable, you may want to shop around. Yes, I understand this isn't a straightforward answer, but unfortunately, I'm not licensed in New Jersey and don't know the New Jersey rules. It makes a difference on this type of question.
Dan
fcorcoran
Expert
As long as you show insurable interest then its good. If he is living in your house then you can list him on your policy. He can easily drive one of your cars by living there and you guys can easily drive his. If two people share the same home then insurable interest is there. So yes he can be on your policy and should be. Sometimes lienholders pull rank because they have given the money and want to call the shots, but by law it ok for all to be on the same policy if in the same home. Unfortunately you can't argue with the money changers. If they say he has to have the policy in his name then thats the way it has to be. Not fair, but true.
insurancesmarty
New Member
- 6
If the car is titled in his name only he should have a policy in his name. Putting the car on the policy where you and your husband are the named insured could put you in a situation where coverage could be denied since you do not have an insurable interest in the car.
- 9,744
Really? I'm glad you're not advising me on liability concerns.
What happens to Mom & Dad's assets when the 23 year old son (I've had one, he's 24 now) has a little booboo and the loss is in excess of the policy limits and someone sues and gets a judgment?
Get kids on their own policy - as soon as you can.
G
Guest
Guest
- 9,744
A suggestion: look up the word "rhetorical".
