can i let my son drive my car on my insurance

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Posted: Sat Aug 06, 2011 1:20 am Post subject:

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If you don't own the vehicle, you have no insurable interest. And you have no insurable property loss.

Having said this, if you rent a vehicle, you are LIABLE for its full value in the event of collision loss or theft. But that is a comprehensive loss that can be covered under Named Non-Owner. The expectation of the rental agency is that the vehicle will be returned. They will suffer an economic loss if it is not returned, or not returned in a rentable condition. Obviously, they will have that coverage for themselves, but are entitled to recover under the terms of the rental contract. It's that financial contract that creates an insurable interest where one normally does not exist.

That discussion is not germane to the OP's post about letting his son drive his car on his insurance, the assumption being that the son still lives at home. If the son does not live at home, he can drive the vehicle with permission, but still has no ownership interest. Only dad suffers a property loss. Junior and Dad are on the hook for liability losses.
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MaxHerr

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Posted: Mon Aug 08, 2011 11:58 am Post subject:

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"You can insure a car you don't own" ??????

Insurable interest?

The term "insurable interest" refers to the thing you are worried about losing, the car or the house. You cannot get insurance in cases where you have no insurable insurance.

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meenakshidpfoc

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Posted: Tue Aug 09, 2011 5:50 am Post subject:

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The term "insurable interest" refers to the thing you are worried about losing

Not exactly. Insurable interest is more complex than that.

Quote:

You cannot get insurance in cases where you have no insurable insurance.

Now that's a correct statement.
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CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers.

MaxHerr

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Joined: 29 Nov 2009
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Location: Pomona CA
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