How should a co-owned vehicle be insured?
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How should a co-owned vehicle be insured?
Financed through dealer. – Both drivers on loan – Co-borrows ( No Co-signer)Memorandum in both names. Registration in both names. Father and Son. Currently reside in same household. Son 25 year old independent. Within 1-6 months son will be out of household. Son has bad driving record. Father good driving record and needs large liability coverage. How should the vehicle be properly/legally insured? Also to ensure liability is covered. Currently Son has named operator policy with the following. Uninsured/Underinsured $50,000 each person Motorist Bodily Injury:t $100,000 each accident.Bodily Injury
Asked on October 10, 2013 under Insurance Law, Ohio
Answers:
Tricia Dwyer / Tricia Dwyer Esq & Associates PLLC
Answered 10 years ago | Contributor
Hello. I suggest you simply speak with your licensed insurance agent about your issues. Assuming you are the father, you are correct to be greatly concerned that you have full and proper insurance coverage in effect before anyone gets behind the wheel. Your personal financial picture is one of the many considerations in determining what appropriate coverage is. Some attorneys are available seven days for emergency legal needs. Many attorneys will speak initially at no charge. Then, if legal work is performed, some attorneys will provide a reduced fee for financial hardship. Some attorneys may also assist you in a limited scope manner to conserve legal costs. All the best.
TRICIA DWYER, ESQ.
Tricia Dwyer, Esq & Associates PLLC
Phone: 612-296-9666
365 Days of the Year until 8 p.m. daily
Minnesota Law Firm
INSURANCE LAW: MINNESOTA
LIABILITY LAW: MINNESOTA
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