Awesome1491
New Member
- 2
Hi I'm a 17 years old male living in South Florida and am looking to buy a 2002 honda civic coupe and am looking for an estimate of how much insurance will cost
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i would be out on my parents insurance
with the car in my name
my mom is 42 with an almost perfect driving record and my dad is 47 with a decent driving record
but it's better for your parents to own it and have you as a driver. I owned my daughter's car until she finished college and moved out. Got the best rates that way. When she moved out I signed the car over to her and she got her own insurance
I did this with my son at 19.5. He got a great policy at a very good rate, after riding on ours for the first 4 years.couple reasons why this is or may not be true or better.
1. Some carriers allow a child starting their own policy who has been properly listed on the existing policy to start their own policy utilizing the parents longevity credits, their multi policy credit, claim history credits, insurance credit based scoring. thus, the rate is the same as it would be if it was added to the parents policy. may actually be cheaper as the young person might not require as high of liability limits as the parents.
2. by putting the car in his own name, he wont expose his parents to lawsuits when he turns 18. Having the parents title the policy can expose them to potential lawsuits if they exceed the policy liability limits.
So, there can be pros & cons in this type of situation as to who should own the title & who should insure, etc