Comments on: How does the whole car insurance thing work? http://autocarloansnow.com/how-does-the-whole-car-insurance-thing-work.html Thu, 02 Feb 2012 00:01:28 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Al Mac Wheel http://autocarloansnow.com/how-does-the-whole-car-insurance-thing-work.html/comment-page-1#comment-256 Al Mac Wheel Sun, 08 Nov 2009 00:26:53 +0000 http://autocarloansnow.com/how-does-the-whole-car-insurance-thing-work.html#comment-256 If you park your car on your parent's property, and never drive it anywhere, you might not need to have any insurance. But if you are going to take that car out on the public highways, you need all sorts of different types of insurance to pay for medical expenses if anyone hurt in an accident, pay for repairs if any damage from accident, get another car if it is stolen, protect your assets (house, car bank accounts) from beign drained by law suits, and also keep you out of jail. While you are living under your parent's roof, they can add you to their insurance policy ... this will be expensive, but not as expensive as a policy in your own name. Once you go to college, and live wherever the college is, no longer under your parent's roof, then you do need to have policy in your own name. If you park your car on your parent’s property, and never drive it anywhere, you might not need to have any insurance.

But if you are going to take that car out on the public highways, you need all sorts of different types of insurance to pay for medical expenses if anyone hurt in an accident, pay for repairs if any damage from accident, get another car if it is stolen, protect your assets (house, car bank accounts) from beign drained by law suits, and also keep you out of jail.

While you are living under your parent’s roof, they can add you to their insurance policy … this will be expensive, but not as expensive as a policy in your own name.

Once you go to college, and live wherever the college is, no longer under your parent’s roof, then you do need to have policy in your own name.

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