Best Answer

As long as the vehicle is in YOUR name, YOU are ultimately responsible for any damage caused by the vehicle. If your friend has 20K ins. coverage and does 75 or 100K damage, you will be sued as well. good Luck

User Avatar

Wiki User

โˆ™ 2015-07-15 19:12:21
This answer is:
User Avatar

Add your answer:

Earn +5 pts
Q: If you own a vehicle that you are not using can you loan it to a friend for an extended period of time and let them carry the insurance?
Write your answer...

Related Questions

What is a best friend forever?

A best friend forever is a person who is a close and trusted friend to someone over an extended period of time.

What is the normal waiting period to get car insurance if you have not had car insurance for a period of time?

It depends on the State that you live in. Certainly you cannot drive without insurance at all. You may have a statutory fine for having a registered vehicle without having insurance on the vehicle if there is a lapse in coverage. If you are a repeat offender then you may have a period of time where your license is suspended.

Can you drive a new vehicle if your old vehicle insurance with out switching it over?

No. You need to contact your insurance company. they are not all the same. Most insurance companies will give you a short grace period in which to notify them of a vehicle change such as a trade in situation. If it's an additional vehicle you have acquired, there would be no coverage until you have contacted your insurance company.

If a car is licensed and insured in Wisconsin is the insurance valid if it is driven in Florida for six months?

Sure, the insurance follows the car. Most insurance companies are national anyway, so it shouldn't matter in which state you drive. If the vehicle is out of state for an extended period, such as while going to college, the insurance company should be informed. In most states, if you establish a residence or take a job you have to have your vehicle registered in that state within 30 or 90 days and the insurance company should be notified.

How can one reduce the insurance cost?

The insurance cost can typically be lowered by avoiding accidents that require insurance payments for an extended period of time. After a certain amount of time has passed without an accident, the insurance cost should go down.

Is a Toyota Extended Warranty able to be transferred to a new owner if the vehicle is sold while covered?

"In most cases, the Extended Warranty is able to be transferred to a new owner if the vehicle is sold during the covered period. However, you should refer to the paperwork that came with your warranty for your specific vehicle for the exact details."

Is a son covered on his father's auto insurance policy when the son causes an accident while driving his friend's vehicle?

The insurance follows the vehicle therefore the person who owns the vehicle is responsible for having insurance on the vehicle and that insurance will cover the loss. I know it seems that the driver should have some responsibility but that is not the way policies are written. The best thing is teach you children never to let someone else drive their vehicle, period. Insurance companies do not like it when their policyholders loan vehicles and they then have unknown drivers driving insured vehicles.

What is an extended auto warranty?

An extended auto warranty is an agreement from a warranty company to pay for repairs to your vehicle for a period longer than your original auto warranty. For information on what you can expect from an extended warranty and what the top rated companies are look at

What is the grace period when transferring auto insurance to a new car?

Policies differ, so you should check with your agent or broker. If you have owned a vehicle and already have an auto insurance policy, that will generally cover your new automobile for a period of up to 30 days after you buy it. Once that 30-day period is up, you'll have to talk with your agent or company representative to insure that new vehicle.

Why should a driver buy an extended car warranty?

A driver should consider buying an extended car warranty to keep their car under the warranty for a longer period of time. An extended warranty means that there is a longer window for the vehicle to be covered for free repairs or replacements if it has problems.

What is an extended period at the wicket by two batsmen in cricket?

The extended period at the wicket by two batsmen in cricket is called a stand.

If you are driving a friends car and are stopped by the police and your friend has no insurance who gets the ticket?

You get the ticket and your friend may lose the car. Driving in an uninsured car has serious and expensive consequences.You will receive a traffic violation. Your license can be suspended.The police can tow and impound the vehicle. The vehicle can't be released until proof of insurance is procured. The impound fees add up quickly and the tow company can send your car to auction if the fees are not paid within the statutory time period for your state.

When you buy a new or used car how long do you have to get insurance?

You must have insurance on the vehicle as soon as you purchase it. The nice part though, is that, if you already have an insurance policy for another vehicle, or if you are on a family policy and someone else in the family has a car with insurance, and you are listed as a driver on the family policy, that company will most likely cover your new auto purchase for a 15 day period, sometimes even a 30 day period. Check with your insurance agent for exact times as they vary with each company

What happens when caught driving with a suspended license in North Dakota?

Once caught, your licence will be confiscated, you won't be permitted to move your vehicle, you'll face hefty fines and court costs, the suspension period of your licence will be extended, you'll have points added to your driving record, and your insurance costs will increase as a result of this.

What is called reinsurance?

When we go for insurance , the insurance have a time period for which it will be valid. When we want to extend the time period of the insurance,we have to do reinsurance.

What is extended term non-forfeiture option?

It means that if you don't pay your premiums, then rather than the policy lapsing, it will be term insurance for a period of time, with no cash value.

What is extended term insurance on a lapsed Whole Life Policy?

Calculate the total cost of a fire insurance premium for a building and contents given the following. (UseTable 20.3.)Rating of area Class Building Contents Total premium cost 3 B $90,000 $40,000 $

What std requires taking a shot over an extended period of time?

Late-stage syphilis requires shots over an extended period of time.

What kinda of insurance protection is set for a period of time?

The Term life insurance is the kind of insurance protection that is set for a period of time.

What year did vehicle and General insurance fail?

The Vehicle and General Insurance Company petitioned to be wound up on March 1, 1971. It had been the subject of UK Government concern for a considerable period before that. At the time, V&G was estimated to be insuring about one in ten British motorists.

How long after buying a car in Florida do you have to get insurance on it?

There is no grace period. It is illegal to operate a motor vehicle on public roads without proof of financial responsibility.

What do you do if you have an accident with a lapsed insurance and the vehicle is totaled?

You pay for the damages out of your pocket. Answer How lapsed? There is a grace period with insurance companies. Call your agent. If it's been more than 2-3 weeks my guess is you are out of luck.

Will my car insurance cover me if I am driving someone elses car?

It depends on the owner of the vehicles policy. I would check with them before driving especially if it is something that will be for an extended period of time. The only 2 instances when you would not be covered is if you are purposely excluded from the owners insurance policy or if you are driving a stolen car. I had to find this out in a hard way. They will, if the car owner has given you permission to drive. But if not, they won't and I fell into the second case. A good rule of thumb is that 'insurance follows the vehicle' as far as coverage is concerned. The policy in force on the vehicle involved in a loss will cover the damage to the vehicle itself and whether or not the driver or passengers are covered and to what extent; is all based on the company who insures.

What is a renewal period?

It relates to the time period before an insurance policy for instance runs usually get 2-4 weeks, to pay your renewal sum The renewal period of a life insurance policy falls due on quarterly,half yearly or yearly intervals,though a grace period of 30 days is allowed. Where as in medial insurance, renewal period is calculated 12 months from the date of inception. Here renewal date is vital since it can not be extended by any means and the policy will face unwarranted lapsing. It is advisable to renew the medical insurance policy at least before 7/10 days to be in the safer side.

After an air filter has been removed from a vehicle can it be cleaned and reused in the automobile?

A person can clean and reuse a air filter in their vehicle, but it is always best to purchase a new filter to replace the old one. If the filter has not been in the car for an extended period of time a short period of reuse until a new one can be purchased is acceptable.