Car Insurance Reductions

ChicagoBear
Wed, 03 Jul 2013 16:40:38 +0000

My concern would be how sure are you that your kid would never, under any circumstances, get behind the wheel of a car? Even if a sick friend, designated driver or any other “emergency” arises? While the car owners policy should cover damages to its limits, what if the damages are more than the coverage? Your kid will be sued with no indemnification and no legal defense! Ludgements live for 20 or more years. Parents need to carefully evaluate the risks and resist the urge to be “penny wise and pound foolish”.