An example is a case where dad says " OK, you can use my spare car but you gotta get your own coverage".
If You have permissive use from the owner of a vehicle, then obviously you have an insurable interest. However, Only the Legal owner of the Property or the designated agent of the owner can receive compensation for the property in the event of a covered loss, so you need to list the owner as an insured on the policy.
If you buy proper insurance coverage, Then Dad will be proud and happy you were prudent enough to fully insure his and your interest in the vehicle he loaned you.
You can not insure the property of another when no insurable interest exists and only the legitimate owner can receive compensation for a property loss. For Liability purposes any authorized driver has an interest in the insured status of a vehicle they are driving.
List all drivers for liability purposes and list the owner for his property interest.
Failure to disclose ( AKA "concealment") that the vehicle is owned or driven by another can negate any comprehensive or collision coverage and compromise liabilities. Meaning that the company would not have to pay in the event of that type of loss.
Yes, you can. I did through Allstate Insurance Company. They did not ask if the car was in my name and I did not tell them anything different.
Yes, if your policy has adequate coverage. If you have full coverage insurance, your car will be repaired completely and your portion of the repairs will be whatever your deductible is.
Usually it does, you would have to check to see if you have a broad coverage policy or not.
In most states, including North Carolina, you still have to maintain some form of car insurance coverage. If the car is paid off you can drop your policy from full coverage to liability insurance.
In state of Michigan, you can only have liability coverage if your car is paid off. Otherwise, you will have to purchase a full coverage policy.
Assuming you had permission to drive the car and you are not an excluded operator on the policy covering the vehicle then coverage should apply per the conditions of the policy.
It depends on the policy that you buy: you can get full coverage, bodily injury, property damage coverage, a full deductible, and several other options.
The state of Michigan does require that all drivers have some car insurance. This includes either having liability or full policy coverage.
Liability coverage is usually much cheaper than a full coverage policy. However, the final price will depend on your driving record and year of the car.
Just like most other cities, Boston also requires drivers have at least liability insurance coverage. If you are financing a car however, you will need a full coverage policy.
If your contract requires full coverage and you do not have full coverage, you are in violation of the contract.
They call it full coverage because it means your car's damages will be paid for regardless of whether or not the damage is your fault.
Not where I live in Ohio. My mother co-signed a car for me, and her name didnt have to be on the insurance, as long as the vehicle carried full coverage insurance in my name.