I know when I got my license my parenst refused to even consider putting me on their carinsurance policy. That refusal made it so I had to have my own seperate policy that cost over a grand every 6 months. I understand now, that if i had been in an accdient it would have effected their insurance rates, but I wasn't....so what really happened was me paying an extra $5000 to the insurance company over 3 years that didnt need to go there (my car was probably worth $500).What are your thoughts on adding your kids to your car insurance policy?
My feelings as a former Insurance Agent and the mother of two adult children is that Parents need to keep their child covered on their own policy for protection of liability if the child is still a dependent. Including children who are away at college. If a parent claims a child as a tax deduction then the parents may be held financially liable even if they haven't provided the car for the child.
Your Kids on Your car Insurance?
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