Personal Policy or Commercial Policy?
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UPDATED: Feb 15, 2019
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Insurance Question from Liberty Township, OH
Asked on 02/15/2019
Personal Policy or Commercial Policy? Car owned/registered personally by me in OHIO, garaged at gated community condo in FL. Condo owned by LLC (myself and 2 of my siblings), but not a rental property. We keep the car in FL to use during our visits. Used
Answer given on February 15, 2019
Car insurance should be written in the name of the registered owner. If you own the car personally, it should be insured in that manner. However, if the car is garaged in Florida, it should be insured in Florida, even if you live most of the time in Ohio.
Each state has different laws and rules regarding car insurance so it is best to insure it in that state since that is where it is normally used. Also, some states are known as “no fault” states, and their rules are very different from other states. You can drive to other states, obviously, but insure it where it spends most of its time. You should also list any regular driver of the car on the insurance policy, since some insurance policies only cover the car if used by a listed driver. Discuss all of this with your insurance agent or insurance company to be sure you are properly insuring it and yourself.
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