plenzmd1 Posted March 3, 2013 Share Posted March 3, 2013 Cant seem to find an answer online. We will be lending a car to a friends teenage son for the next year or so, anybody have an idea what we need to do for insurance? Link to comment Share on other sites More sharing options...
The Poojer Posted March 3, 2013 Share Posted March 3, 2013 I'd say you more likely need a psychologist instead of an insurance agent. :-) Cant seem to find an answer online. We will be lending a car to a friends teenage son for the next year or so, anybody have an idea what we need to do for insurance? Link to comment Share on other sites More sharing options...
Doc Posted March 3, 2013 Share Posted March 3, 2013 http://www.21st.com/auto-insurance-information/lending-a-car-to-a-friend.htm Link to comment Share on other sites More sharing options...
The Tomcat Posted March 3, 2013 Share Posted March 3, 2013 Plez... Anyone you give permission to drive you car is covered. For example, if I'm parked behind you and I give you my keys to run to the store then your covered without being listed. However, if your letting someone drive your car for the year, they realy should be listed as a driver. Should he/she get into an accident the insurance company could deny it but don't normally if its not a major accident with the insurance company looking for ways not to pay a huge settlement. . I have a few clients who are older that neighbors drive them to the store and such and the neigbors are listed. Anyone who regularly drives the vehicle should be listed. Does this person maintain your residence as theirs? Is the car kept at your place or theirs(schools?) Is this person listed on their parents policy already? (if they are, I wouldn't be as worried because you can always say they are on their parents insurance and they were just borrowing the vehicle for a few days.) You more then likely won't get caught letting a teenager (thats not your child) drive your car unless something happens but it may be too late at that time do anything about it if it does. Teenage boys pay the highest insurance rates then anyone for a reason. Your taking a huge gamble letting him drive. If you were my client, I'd recommend you add him/her to your policy. (Actually as your agent, I'd try to talk you out of letting them drive it all) Again, its one thing to let them borrow the vehicle for a few days/week, but a year you really are taking a chance with everything you own. Feel free to pm me with any questions. I've been in the insurance industry for 16 years and owned my own agency for the last 6. Link to comment Share on other sites More sharing options...
mead107 Posted March 3, 2013 Share Posted March 3, 2013 Don't do it. Why mom and dad not getting him a cheap car? If you have to add him to your policy who is paying the added cost? Link to comment Share on other sites More sharing options...
plenzmd1 Posted March 3, 2013 Author Share Posted March 3, 2013 (edited) TomCat The boy does not live with us, his Mom is a good friend who is just getting devastated in a divorce. Long story, but she has zero money, his Dad is as big of a prick as I have ever come across, has hid his money well, will not buy him a car, and he needs one for school and work. We just bought a new car, but want to keep this car for when our daughter begins to drive in a couple years. But with all my lawn stuff, bikes, just plain junk etc in the garage, just no way to keep two cars in there. And the way my driveway is configured would be a royal pain to keep in the driveway. So i figured this kills two birds..kid needs a car and i want someone driving this one and keeping it out of my driveway.He is a very responsible kid, but he is a 19, and just like the rest of us at the age, sure he is going to fug up and make a mistake somewhere along the way LOL Certainly do not want to risk my house etc, but if she has him as a driver on her policy is that okay? Besides car insurance, we also carry an umbrella policy. Thank for the info, appreciate it! Edited March 3, 2013 by plenzmd1 Link to comment Share on other sites More sharing options...
The Tomcat Posted March 3, 2013 Share Posted March 3, 2013 If you have only 2 cars now and list him on the policy he would become a part time driver and the price is manageable. Its when the kid becomes the full time driver (3 vehicles, 3 drivers) that it gets crazy. If the car doesn't need/have comp and collision its a bit more managable. I have a 19 yr old son and a 16 year old son and my oldest has his own vehicle with liab only and its about $900 year on our policy. If he were on his own that $900 turns to about $1300 (more if your in larger city like Buffalo or Rochester). I'm not sure how your insurance company looks at adding a non-relative not living with you. I would assume you have an agent and should be able to play "what if" without notifying the insurance company. I have many "off the record" conversations with clients. If your company has an 800 number for customer service you might want to call and ask if your able to add him to your policy. Don't give them your name or policy number but just ask the general question. Let them know your thinking of adding a friends kid to see if its even possible. I've dealt with 100's of divorces and they can range from being civilized to downright nasty. Your hearts in the right place but NYState Insurance law may prevent you from doing what you want. Each company has their own way of dealing with these types of issues so you really need to check with them before trying to add a non-resident non-relative. They might not allow it at all. Congrats are seeing the value in the umbrella policy. Well worth the $ especially these days. I guess you could sell/give him the car but it sounds like even at that she might not have the $ to make the insurance payments. Its a tough spot. Unfortunely there are a lot of douche fathers out there that won't give a dime to their ex's even if it hurts the kid. Check with your insurance company to see if its even possible until making your next decision and cross that bridge when you have too. Link to comment Share on other sites More sharing options...
plenzmd1 Posted March 3, 2013 Author Share Posted March 3, 2013 Tomcat, Thank you very much for the great info! Greatly apprciated! Link to comment Share on other sites More sharing options...
Recommended Posts