If you Hammer insurance policy you will find a section on exclusions?In that exclusion, you will find commercial use of your vehicle for pay is not covered. What you will see is that things like pizza delivery, newspaper delivery, or any other deliveries for money, including people for a charge, are some of the exclusions.
That does not preclude you from driving in the regular course of the day. In addition, some companies don’t exclude the damage to your car but only to liability to others.
Who pays if you let someone else drive your car and they have an accident?
Your insurance follows your vehicle, so if you let someone else drive your car, you are responsible. That is why Traders Insurance company wants to know who else in your home is licensed because if they take your car out, it is on you, and it is part of underwriting. Just think if that person has alcohol how it makes you look if there is an accident.
How long do you have to report a new car to your Insurance company?
Some companies have a different understanding of this, but in general, it is expected no more than 30 days. If the fact that theory seems to come from the statement in an auto policy 30 days. Some companies are more reasonable, but if over 30 days, you need a good excuse.
Then it is a little different in that liability should be within the policy period or 30 days, whichever is the longest. To be on the safe side, you should make the change asap and within 30 days. Personally, I have seen it for 6 months on an annual policy.
What happens if your child buys a car and insures it under your policy and later moves out of the house
It is not uncommon that if your child has a car that is their own name and is living in the home that they can be included in your policy and utilize all the available discounts.
Once that child moves out of the home to their own home, that policy needs to be written in their own name because you as the parent do not have a financial interest in the car even if you are paying the car payment.
About 4 years ago, a young woman in her early 20’s insured by one of the largest companies in the country, was living with her mother in Indiana moved to Illinois for a new job. The car was purchased while living at home, and she had an accident that totaled the car.
To her surprise, she found the claim was denied because she was no longer a resident of the mother’s home, and one rule of liability is financial interest. If the car had been titled in the mother’s name, it would have been covered.
