18 year old insurance for 1994 z28.
#11
03-23-2010, 01:14 AM
For one I'm the owner of my Camaro and I am insured under my parents insurance.....so I am the owner of the vehicle but it is not insured under my own policy. And if u get sued for over 250k and there is no settlement for alot less then well u need a new lawyer.
#12
03-23-2010, 06:21 AM
my friend, can you tell by the tone of my letter that perhaps I am beyond my 20's and 30's? Maybe just maybe I have experienced that which I discuss in the thread.
I suggest the OP discuss with an insurance agent and perhaps tha parents discuss with a lawyer. Also, in a down economy such as this, and one that will continue to be down with the current fiscal policies, lawsuits will increase as people look for ways to find money.
Oh, one more thing, please try and buy insurance for an asset such as a vehicle or home where the title or deed does not have your name listed. Good luck with that. Many kids say it's "their car" whe in fact the title is in mom or dad's name
#13
03-23-2010, 08:02 AM
the biggest cost for young drivers is spelled L I A B I L I T Y
that's the 25/50 50/100 100/300 250/500 etc number that you see
an 18 yo may be best to sign up on their own and pay the $180 per month and that is probably for low end liability
Yes, you could ride your parents' policy and try and "cheat" the system by being put on a Buick etc as the primary driver. BUT (that's a big but). If your folks work, or own a house, or have any money in savings or stock then they had best load up on liability coverage which then drives up the premium and you would probably still be paying a lot for your share.
THink about it. What is one of the first things you hear someone give as advice to a person that was struck in an auto accident???? "hey, you should sue"
Well, what do you think the other guy is being told when you hit him? if you ride your parents policy, and tyey only have 100/300, and the claimant is trying for 250k, guess who is first in line to pay the 150k difference? I'll give you a hint, it isn't you. it's the owner of the vehicle and only the owner of the vehicle can purchase insurance.
it kind of puts into perspective now when you hear someone say "you should sue"
that's the 25/50 50/100 100/300 250/500 etc number that you see
an 18 yo may be best to sign up on their own and pay the $180 per month and that is probably for low end liability
Yes, you could ride your parents' policy and try and "cheat" the system by being put on a Buick etc as the primary driver. BUT (that's a big but). If your folks work, or own a house, or have any money in savings or stock then they had best load up on liability coverage which then drives up the premium and you would probably still be paying a lot for your share.
THink about it. What is one of the first things you hear someone give as advice to a person that was struck in an auto accident???? "hey, you should sue"
Well, what do you think the other guy is being told when you hit him? if you ride your parents policy, and tyey only have 100/300, and the claimant is trying for 250k, guess who is first in line to pay the 150k difference? I'll give you a hint, it isn't you. it's the owner of the vehicle and only the owner of the vehicle can purchase insurance.
it kind of puts into perspective now when you hear someone say "you should sue"
#14
03-23-2010, 09:40 AM
Join Date: Oct 2007
Location: The 'Burbs of Chicago
Posts: 18,306
I have insurance through Nationwide, and with claims they've been a good company to deal with.
On the subject of "ownership", they WILL NOT put my kids' cars on our policy unless my name is also on the title (their name can be on the title too, so on paper it's co-ownership). If their name is on the title only, they would have to have their own policy (read friggin expensive). Since legal ownership determines who is financially liable, I can't see why this wouldn't be an industry-wide policy.
Between my cars, the wife's, and the kids three, we have 7 cars insured. My agent loves me!
On the subject of "ownership", they WILL NOT put my kids' cars on our policy unless my name is also on the title (their name can be on the title too, so on paper it's co-ownership). If their name is on the title only, they would have to have their own policy (read friggin expensive). Since legal ownership determines who is financially liable, I can't see why this wouldn't be an industry-wide policy.
Between my cars, the wife's, and the kids three, we have 7 cars insured. My agent loves me!
Last edited by Camaro 69; 03-23-2010 at 09:46 AM.
#15
03-23-2010, 06:10 PM
I have insurance through Nationwide, and with claims they've been a good company to deal with.
On the subject of "ownership", they WILL NOT put my kids' cars on our policy unless my name is also on the title (their name can be on the title too, so on paper it's co-ownership). If their name is on the title only, they would have to have their own policy (read friggin expensive). Since legal ownership determines who is financially liable, I can't see why this wouldn't be an industry-wide policy.
Between my cars, the wife's, and the kids three, we have 7 cars insured. My agent loves me!
On the subject of "ownership", they WILL NOT put my kids' cars on our policy unless my name is also on the title (their name can be on the title too, so on paper it's co-ownership). If their name is on the title only, they would have to have their own policy (read friggin expensive). Since legal ownership determines who is financially liable, I can't see why this wouldn't be an industry-wide policy.
Between my cars, the wife's, and the kids three, we have 7 cars insured. My agent loves me!
They stopped whining when they saw how good of a deal it was to ride our policy.
#16
03-23-2010, 06:27 PM
the things we do for our kids. I priced out each kid's car as if they owned it (those over 18 because under 18 they won't insure) and showed them the cost. I then priced just my vehicles which the adults drive, then, I priced the cars ( I actually own all of them) with everyone riding on our plan and showed the kids how much it was riding our policy as well as how much more it cost ME on my own vehicles just to have them riding the policy.
They stopped whining when they saw how good of a deal it was to ride our policy.
They stopped whining when they saw how good of a deal it was to ride our policy.
#17
03-26-2010, 11:24 AM
Torque: Well i'm not about to get into a post battle...but I am the only person on the title of my Camaro as I paid for it by myself 
So I'm sorry you misinterepted my post as a counter to yours, but My 2002 Camaro z28 is titled to me not my parents.
I do agree with your advice and you are much wiser then I (I dont wanna admit), but my family insurance agency does allow me to be the sole owner of the vehicle and still remain under their insurance. I know this because when I bought my Camaro I had to figure out insurance and they wanted me to go onto my own policy which was crazy expensive, but I was able to go on their policy as the primary owner/driver of my Camaro.
So I'm sorry you misinterepted my post as a counter to yours, but My 2002 Camaro z28 is titled to me not my parents. I do agree with your advice and you are much wiser then I (I dont wanna admit), but my family insurance agency does allow me to be the sole owner of the vehicle and still remain under their insurance. I know this because when I bought my Camaro I had to figure out insurance and they wanted me to go onto my own policy which was crazy expensive, but I was able to go on their policy as the primary owner/driver of my Camaro.
Last edited by Roachz28; 03-26-2010 at 11:26 AM.
#19
04-04-2010, 07:52 AM
osduck, Did you get a quote for the Z28 yet? I assume you would be setting it up as your car. I mentioned to my agent about getting a Z28 for me and I have 2 kids and he kind did that face like you don't want to go there. I never got a quote. Course one of my kids has 2 minor claims already and she is only 21 both her fault.
#20
04-04-2010, 08:05 AM
osduck, Did you get a quote for the Z28 yet? I assume you would be setting it up as your car. I mentioned to my agent about getting a Z28 for me and I have 2 kids and he kind did that face like you don't want to go there. I never got a quote. Course one of my kids has 2 minor claims already and she is only 21 both her fault.