Can Patent Add Adult Children to Car Insurance

It's quite an accomplishment to reach financial independence in early adulthood. Many young adults continue to rely on their parents financially well into their twenties. Sometimes, it makes sense from a cost perspective to stay on your family's cell phone plan or get coverage through your parents' health insurance for as long as you can. But what about car insurance?

If you decide to buy your own car and the title is in your name, you'll typically need to purchase your own auto insurance policy. The good news is, this may eliminate some of the cost burden from your parents, since having a young driver on a policy typically raises insurance premiums. And you may be able to find a policy that you can afford on your own. With Insurify , you can compare customized car insurance quotes from different car insurance companies to find the lowest possible rate that includes any discounts you're eligible for.

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But there are some instances when it makes sense to get coverage under your family's insurance plan. Let's take a look at some scenarios where you'd have the option to stay on your parents' insurance policy and whether it makes sense to do so.

Do I have to buy my own car insurance…?

Not necessarily. In some cases, you'll be able to decide whether to be added to your family's existing policy or purchase your own car insurance. In this case, it makes sense to use Insurify to compare the total cost of car insurance for both options.

Do I have to buy my own car insurance if my parents own my car and I live with them?

No. If you live with your parents and they own your car, you can be added to their existing policy. Most insurance companies require that all licensed drivers in the household be either listed on or excluded from the vehicle's insurance policy.

If your parents own the vehicle, their insurance coverage will be primary. That's because auto insurance generally follows the car, not the driver. So if you purchase your own insurance policy, the coverage will be secondary in the case of a car accident. Furthermore, getting a separate policy for a young driver is typically much more costly than adding a young driver to an existing policy. In most cases, it makes sense to be added to your parents' policy if you live with them and they own the vehicle.

Do I have to buy my own car insurance if my parents own my car but I don't live with them?

If you're attending college and leaving your vehicle at home, you can stay on your parents' insurance policy. Some insurance companies offer college student discounts when an insured driver on the policy is away at school.

If you move out and bring the car your parents own, options can vary by insurance provider. Typically, you'll need to get your own policy, but if you're considered a dependent, you may be able to remain on your family insurance policy. Different providers have different definitions of who qualifies as a dependent.

Do I have to buy my own car insurance if I own my car but I live with my parents?

If you own the car, you'll need to get your own insurance policy, even if you still live with your parents. If the policyholder is not listed on the title, the insurance company doesn't have to issue payment for an insurance claim. Unless one of your parents is listed on the title, you should get your own insurance policy.

Do I have to buy my own car insurance if I own my car and don't live with my parents?

The same rule applies; you'll need to get your own insurance policy. The only way you would be able to stay on your parents' insurance policy is if you had joint ownership of the car with your parents and were still considered a dependent. It would be up to your insurance company to decide if you qualified as a dependent and could stay on your family car insurance policy.

What about joint ownership?

Joint tenancy is certainly an option. If both your own name and one or both of your parents' names are listed on the title, you can stay on your family insurance policy.

Can I be on my parents' car insurance if I'm married?

If your parents own the title to the car and you still live with them, you can be on their insurance policy even if you're married. If you're moving out with your spouse, you'll likely need to get your own insurance policy, and if you or your spouse owns the title to your car and your parents aren't listed on the title, you'll need your own policy.

To review, here's a brief rundown:

Should get a separate auto policy	Can be covered under parents' auto policy
Adult child is the sole owner of the car and lives with parents Adult child is the sole owner of the car and lives away from parents Adult child lives away from home with their parents' car	Adult child co-owns the car with a parent Parents own the car and the adult child or teen driver lives with them Adult child is married and still living at home and the parents own the car College student attends school but occasionally drives the family motor vehicle when at home

How much does car insurance cost for teenagers and young adults?

If you're wondering whether you can be added to your parent's car insurance policy, you may be curious about the average cost of car insurance for teenagers, college students, and young adults. Check out the diagram below comparing average monthly rates for three age groups, drawn from Insurify's proprietary database of millions of unique driver quotes.

How to Find Cheap Car Insurance Quotes in Minutes

Whether you remain on your parents' insurance or get your own car insurance policy, young drivers are costly to insure. Luckily, many discounts exist to reduce insurance rates. You may be eligible for discounts based on your driving behavior, your grades in school, or your vehicle's safety features. Multi-car and multi-policy discounts are also an excellent way for families to save money on their premiums.

Your monthly premium will also depend on factors like your driving history, credit score, and occupation. Different car insurance companies weigh these factors differently and provide different discount amounts, which is why you'll see a range of insurance rates if you compare quotes across insurance providers.

Rather than painstakingly getting quotes from individual insurers, use Insurify to narrow down your choices. You'll only have to enter your information once, and you'll get personalized, cheap car insurance quotes from up to 20 insurance companies all in one place. That way, you can rest assured you'll get the lowest rate, whether you end up staying on your family policy or getting your own insurance.

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Updated July 19, 2021

Lindsay Frankel is a full-time freelance writer specializing in personal finance and insurance topics. Her work has been featured in publications such as LendingTree, The Balance, Coverage.com, Bankrate, NextAdvisor, and FinanceBuzz. For the past year, she has written about car insurance for Insurify.

Can Patent Add Adult Children to Car Insurance

Source: https://insurify.com/blog/car-insurance/can-i-be-on-my-parents-car-insurance/

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