Car Insurance Reductions

BusyMei
Wed, 03 Jul 2013 17:57:24 +0000

ChicagoBear:

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!



This is my understanding also. Both the driver and the owner of the car are liable in an accident and both can be sued. Driving is probably the biggest liability that anyone takes in daily life. It is not worth taking the risk unless you are absolutely sure.

I need to look it up. I think our insurance went down 20-30% when S1 went away to college several hundred miles away without a car. We paid every 6 months. $20 a month is $120 for 6 months. That seems to be about how much savings we got.