Can Children Use a Parents Insurance Policy for Coverage
Is a parent’s policy the best way for a child to get insurance coverage?
Auto insurance can be a major expense for young adults and college students. Coupled with the fact that many young adults and students purchase or are given their first car with the provision that they provide or at least pay for their own vehicle insurance. With this in mind many teens and students wonder about the best way to control their vehicle insurance while still purchasing adequate coverage. Many insurance agents hear this common question asked by both parents and children; can a child use their parent’s insurance to cover a vehicle in their own name?
The answer to the question of; can a child use their parent’s insurance to cover a vehicle in their name?, is really two-fold. The answer is both yes and no. Most states impose age restrictions on when a minor can own their own car. There are a few states like Texas that do not have specific age requirements for ownership but the insurance companies may have their own rules. If the state you live in has age requirements on vehicle ownership and if the vehicle is registered only in the child’s name then the insurance companies will all generally require that the child have the insurance policy under the registered vehicle owner’s name.
To help combat this problem many parents and guardians find that if they will co-sign with the child on the car registration then most insurance agencies do not have any problem insuring the child under the parent’s insurance. Can a child use their parent’s insurance to cover a vehicle in their name? Yes, as long as the state requirements are followed and the child has either a co-signer on the vehicle or is a member of the household or if they are under their states legal age, or are students.
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