by famreight » Thu Jun 18, 2009 08:25 pm
My son is on the title of my car because I needed a cosigner. Now my insurance company is making me add him as insured even though he doesn't live with me or drive the car. They are quoting me a premium of $8,600.00 per year just to add him. I have two cars on this policy and it is currrently up for renewal in August and they say I have to have a separate policy for this car with my son on it. I'm confused?
Posted: Fri Jun 19, 2009 06:28 am Post Subject:
Hey Famreight,
Have you asked your insurance company why exactly he needs to be in the policy when he wouldn't be driving the car?
I'm confused?
I think you still have time to search for a new carrier. IMO the insurer can't require the cosigner in the policy and if your insurer is insisting upon it, better you start searching for new insurer to put your cars with.
By the way, don't you think you are paying too much as premium?
Posted: Fri Jun 19, 2009 09:44 am Post Subject:
Hi Famreight,
I guess your carrier is scared to meet the risk associated with the probability that your son may drive one of the cars.
My son is on the title of my car because I needed a cosigner.
If he's the title holder then I guess he could be taken for the owner of your vehicle.
But did you explain it to the rep. that your son doesn't stay with you?
Steven
Add your comment