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For Those With Teens Who Drive

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  • #16
    Originally posted by White.Beard.Doc View Post
    If the child

    1) owns their own vehicle
    2) has their own insurance policy
    3) resides separately from you, and
    4) is over 18,

    then you don’t have liability.

    Our son had accidents and we were under the threat of having our umbrella liability policy cancelled. Since our son qualified for all of the criteria above by having his official address for the insurance established at his university address, our umbrella policy was not cancelled.

    His auto insurance cost him almost $200/month, but actions and events have consequences. Consequences can offer as much education as paying tuition.
    Were you claiming him as a dependent for income tax purposes?

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    • #17
      Originally posted by AR View Post

      Were you claiming him as a dependent for income tax purposes?
      No, our income is too high to allow any dependent deductions.

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      • #18
        Honestly, the finances always seemed secondary to the actual risk of having teens drive, especially with America's lax DUI laws and minimal drivers ed.

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        • #19
          I stress over this issue with a 22 year old who owns no car, drives rarely, works, and lives apart. He is on my health insurance, and I still imagine the possibility of his or my liability for something. I’m sure the probability of this is low, but not zero. For example, he had a minor car accident at age 17 while driving his grandmother’s car. Two years later he was sued by the driver for various terrible injuries, despite the many Facebook photos of her enthusiastically playing volleyball on the beach and so forth. In the event, grandma’s auto insurance defended the suit, and ended up settling it for a negligible amount. My auto insurance refused to even take any information about it, as he wasn’t driving one of my insured vehicles.
          What is the point of this rambling story? That I stress over possible risks, my mind rambles, and I’m grateful for whatever psychological, if not financial, protection my umbrella policy offers.
          My Youtube channel: https://www.youtube.com/channel/UCFF...MwBiAAKd5N8qPg

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          • Tim
            Tim commented
            Editing a comment
            Someone may a YouTube video post about how ones mind has thoughts that can cause unnecessary stress. Been known for thousands of years. Meditation maybe?
            Watch you video.
            At 22 yrs old , you are a concerned parent.
            Not the responsible party.
            Much more likely in NYC is someone gets injured daily. It’s a busy place. Life has uninsurable risks.

          • Antares
            Antares commented
            Editing a comment
            Touché! Thanks Tim!

        • #20
          I do believe the age 18 is a critical trigger point in virtually every state.
          The rest is situational. Without a court order, the child can do whatever they want. The question becomes are they still a dependent or independent. All the factors mentioned are measures of dependency.

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