I'm am sixteen years old. I have had my driver's license for 5 months, and my family even has an extra car for me to drive. However, my father refuses to let me drive. He will not buy insurance because he thinks that it is useless and if I drive and get into a very extreme car accident, the lawsuits from all the people involved will exceed the insurance coverage amount. He is afraid that we will lose everything we own, and therefore he will not let me drive. He did however, allow me to get my license. He now wants to find some way to protect everything we own (our house, our money), and then he will allow me to drive. Otherwise, I will have to wait until I am 18 to drive so that he is not liable for any of my actions, and therefore cannot be sued. Gee, thanks Dad. Anyone have any suggestions, comments, or solutions? Any feedback would be great. THANKS!
Answer:
The ONLY way your parents can not be held liable for your actions - when you drive a vehicle and potentially get in a car accident IS IF - your parents buy you a vehicle, yet title it in your name (so you are the sole owner) and have them purchase an insurance policy - with you as the sole listed policyholder.
Most of the time, even if you were to get into an accident - and say you did cause catastrophic injuries that would result in the damages exceeding your policy limits, 9 times out of 10, the person who is injured will not pursue past the policy limit, knowing that usually it is useless to pursue the policyholder individually. Unless your parents are extremely well off and have many assets, there is nothing to worry about.
OR just tell your dad to get an umbrella policy, that would increase the policy limits of the auto and homeowner insurance liability to an amount of your father's choosing - over $1M ($1M is the least amount of umbrella coverage). So say you have auto liability limits of $250K/$500K - then if you have an umbrella policy of $1M, then the policy limits are now $1.25K/person and $1.5M per accident. That may be the safest route for you. This would also increase your homeowners liability policy limit - this would be suggested if your parents have a lot of assets.
why do you need to be 18 to buy YOUR OWN insurance?
-get your own insurance
-insure the extra car thats sitting around
-DRIVE!
Ur dad has a point, don hate him for that. Lotta people doesnt even have a car til 21, jsut be glad.
Well, if ur insurance covers up to 50k, and the accident you get into exceeded that amount, you will ahve to pay for it urself. And yeah, they will take everything you owes if you cant pay them.
However, thru paying extra monthly premium, you can raise that number 50k, you can even buy insurance covers up to 250k. my family's insurance covers up to 150k, that give less of our worries.
Dont hate ur dad... just listen and respect ur parents, they just wants the best for you, even tho sometimes they are wrong.
Now, quit whining and be a good son.
Once you have insurance in place, it isn't that much more to put in an "umbrella" to cover you for more. Talk to your agent about costs for additional coverage. I'm covered for up to a million for a very small additional charge on my yearly insurance.
I think you need to look under the 'cesspools and sewage' site for lawyers.
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