This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kids Gone? Your Insurer May Ask For Proof





Question: I want to drop two of my kids off of my policy and add on a new one. The two don't live with me anymore or drive my insured cars on a regular basis.  Will my insurance company let me drop the kids off my policy but let me give them permission to drive my cars if they come to visit? 

Answer: If two of your children are grown and have moved out of your home, then you should be able to remove them from your car insurance policy.  Insurance companies normally require that you list on your policy only drivers who live in your household -- or drive your insured vehicles on a frequent basis.

Once your children become adults and no longer live with you, then you shouldn't be required to insure them on your auto policy.  If they come home to visit and use your car from time to time, then they would typically be looked at as just another permissive user of your vehicle.  With most policies, this means they would be covered without being specifically listed on your policy.  (See “ Who can drive your car?”)

Removing young adults from your car insurance policy could save you money, since younger drivers tend to cost more to insure due to their immaturity behind the wheel and lack of experience.   But it can also be hard with some car insurance companies to get a child off your policy.

Depending upon your insurance company's rules, it may require proof that the child has moved out.  If you request that two of your children be dropped from your auto insurance policy, it's likely that your insurer will ask you to provide proof of each child's new permanent address and/or information (or even a copy of) each child's own car insurance policy. 

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,084.38 +4.24 0.02%
S&P 500 2,113.83 -3.86 -0.18%
NASDAQ 5,070.1580 -21.9270 -0.43%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs