Ask An Insurance Pro - Question and Answers
Answers to your Insurance Questions - Ask Your Question
Auto Insurance Question from Asheville, North Carolina
Answer given on November 3, 2019
In most states, automobile insurance needs to be in the name of the registered owner. Since you are the registered owner, the insurance should be in your name. You can add your daughter to the title, but it will still expose you to liability issues if she is involved in a major accident, or lends the car to someone else. Who pays the premium is really irrelevant, so your daughter could pay the premiums on the vehicle The insurance company should not be concerned about who pays the premium.
You can gift the car to your daughter and rid yourself of any liability on the car. Since it is an older car, she would only need liability insurance coverage, and may not need the same liability limits that you may carry.. This may be the least expensive way to settle the issue, unless you want to keep the car for whatever reason.
NOTE: The IMPORTANT NOTICE below is a part of this answer!
|« Return to Question List||View More North Carolina Questions »|
|« View More Auto Insurance Questions||View More North Carolina Auto Questions »|