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If you have a spare car and your grandson needs to borrow it should he get his own insurance?In: Auto Insurance |
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Answer
"If you have a spare car and your grandson needs to borrow it, should he get his own insurance?"
If he has a serious accident your assets could be at risk. However, your insurance would still be primary if you retain title to the vehicle.
If it is a very short time period consider having him purchase an umbrella policy for you. This would provide more insurance at a lower cost. Be sure to add him to your policy as a driver.
If it is an extended time period consider selling him the vehicle with an option to repurchase. Have the title transferred and then you are out of the picture. This is more involved but safer.
lwpat http://www.speedingticketcentral.com/ Speeding Ticket Central
Answer
If your grandson doesn't live with you and is not excluded from your policy, an occasional using should be allowed.
First answer by judy. Last edit by anonymous. Question popularity: 51 [recommend question]
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