Auto Insuring a Relative

[High EGT]

Looking for some real world feed back regarding adding a senior relative to our automobile policy. In my case my 76 yo Dad has asked to be added to our policy because it is his assumption that the additional $ added to our premium would be less then what he’s paying now with his Insurance Co. Of course he says that he ill pay the difference but I’m not so sure he’s going to receive enough of a break since the reason for his asking this in the first place was he was involved in a rear end collision and that he admitted in the accident report he was delivering news papers. The bottom line is his premium jumped from 50 to 100 $ a month and complains this is not within his budget. I did mail our insurance co and still waiting for a response and basically has the same language as this message. Basically asking for pros and cons on the subject. And yes he lives in Maryland.

 

[~mellabella~]

Looking for some real world feed back regarding adding a senior relative to our automobile policy. In my case my 76 yo Dad has asked to be added to our policy because it is his assumption that the additional $ added to our premium would be less then what he’s paying now with his Insurance Co. Of course he says that he ill pay the difference but I’m not so sure he’s going to receive enough of a break since the reason for his asking this in the first place was he was involved in a rear end collision and that he admitted in the accident report he was delivering news papers. The bottom line is his premium jumped from 50 to 100 $ a month and complains this is not within his budget. I did mail our insurance co and still waiting for a response and basically has the same language as this message. Basically asking for pros and cons on the subject. And yes he lives in Maryland.

Lets put it this way...if Dad there has tickets/accidents, and you have full coverage on a vehicle, they are going to rate it as your dad driving the higher rated vehicle., even though his car would be on the policy too. If thats the case, you are looking at more than a fifty dollar a month increase by adding him to your policy. You can call your insurance company and get just a quote of what it would be with him on, and decide from that. But definitely do your homework first.

 

[mizteresa1965]

The only way you would be able to add your father to your auto policy is if you both were titled owners to a vehicle.

But there are different reasons why a premium would jump. Age could be one, check with the insurance company to see if he received a different rating because he is now in the 76 years and up catagory. Did he recently change zip codes, or counties? Different areas have different ratings. I know personally, when I moved from Charles County to St. Mary's county 7 years ago, my premium dropped.

And like MellaBella said, does he have tickets or accidents. That's a biggie too. But back to my first paragraph..............you just can't add your father and his vehicle to your auto insurance unless you both are titled owners, and THEN, you still want to check with your insurance company to see if they will even allow it.

 

[~mellabella~]

Call your insurance company. They will offer you the best advice more than anyone on a forum could.

 

[mlseskar]

As an insurance agent, you can not add a vehicle to your automobile that belongs to your father. The insurance policy must be written to match the name and address on the title and registration to the vehicle. Only if your father lives with you, you can retitle the vehicle in your name and THEN add the vehicle and your father to your policy. And depending on who your auto carrier is, they at that point could rate your father on the highest rated vehicle even if that is not the vehicle he primarily drives.

PM me if you need any advice.

 

[High EGT]

Never realized having to register the Old Man's car in my name. Certainly changes things and still waiting a response from the insurance co. I’m still unclear on this aspect; by law would the father have to reside at my address for him to be on our policy?

 

[Lilypad]

Looking for some real world feed back regarding adding a senior relative to our automobile policy. In my case my 76 yo Dad has asked to be added to our policy because it is his assumption that the additional $ added to our premium would be less then what he’s paying now with his Insurance Co. Of course he says that he ill pay the difference but I’m not so sure he’s going to receive enough of a break since the reason for his asking this in the first place was he was involved in a rear end collision and that he admitted in the accident report he was delivering news papers. The bottom line is his premium jumped from 50 to 100 $ a month and complains this is not within his budget. I did mail our insurance co and still waiting for a response and basically has the same language as this message. Basically asking for pros and cons on the subject. And yes he lives in Maryland.

Personally speaking-no I wouldn't do it...no harm intended. Is paying the difference an option?

 

[Dymphna]

Never realized having to register the Old Man's car in my name. Certainly changes things and still waiting a response from the insurance co. I’m still unclear on this aspect; by law would the father have to reside at my address for him to be on our policy?

Putting the title in your name wouldn't really be a bad idea, besides having to do it if you changed the insurance, but (sorry to be blunt) if he should pass on, it would take the car out of the inheritance hassle. You could claim it or dispose of it as you wish....my husband's grandparents did that with all their possessions, houses, cars, etc. Just make sure any other potential heirs won't have a fit and that he doesn't have issues with having to get your "permission" to sell the car if he wants.

As for if he must reside with you "by law" to get the insurance...I don't think it's a law, just standard procedure for insurance companies.

 

[High EGT]

Personally speaking-no I wouldn't do it...no harm intended. Is paying the difference an option?

Paying the difference is on the table and guessing may be the path of least resistance if it means him being able to make budget each month. Thanks for the opinion

 

[High EGT]

Putting the title in your name wouldn't really be a bad idea, besides having to do it if you changed the insurance, but (sorry to be blunt) if he should pass on, it would take the car out of the inheritance hassle. You could claim it or dispose of it as you wish....my husband's grandparents did that with all their possessions, houses, cars, etc. Just make sure any other potential heirs won't have a fit and that he doesn't have issues with having to get your "permission" to sell the car if he wants.

As for if he must reside with you "by law" to get the insurance...I don't think it's a law,

just standard procedure for insurance companies

.

Still waiting on our insurance co for news on standard operating procedures.

 

[~mellabella~]

Why don't you actually call them? You would get a quicker response than to your letter, and it would give you the opportunity to ask questions as they come up.

 

[High EGT]

Finally got news back from the Insurance co and pretty much goes along whats being said here. Their rule is that for a relative to be included on the policy, the relative would have to be a legal dependent of the holder of the policy (me). In addition the driving record would impact the entire policy, which goes without saying.