how long can one stay on their parent's insurance plan?

[T2urtle]

I'm 24 now, working and part-time college and living with the parents.

I love being under their plan as almost no matter what car i want to insure its about $350-450 per 6 months. I do quotes on my own for the same car and its about $1700-2000 and with higher deductibles. I even quoted a 06 bentley and it would only cost me $700/6 months.

With a company like statefarm, how long or what are the rules that i can stay on the plan? Is it just as long as i live at home being under the same household or is there an age cut off. Also if its by household, if i move out into my own house ( planning to do in about 2 years) can i still be insured and leave my address as is..

 

[RockinZ28]

Don't see why not. I'm on my gf's policy with allstate, costs me less for comprehensive on my ws6 and liability on my z28, than it would for liability on just one car on my own. We don't live at the listed address either.

Think my sister(24) and her boyfriend(25+) are both on my parents policy, he just totalled one of their cars, no problem getting the insurance money.

 

[T2urtle]

Don't see why not. I'm on my gf's policy with allstate, costs me less for comprehensive on my ws6 and liability on my z28, than it would for liability on just one car on my own. We don't live at the listed address either.

Think my sister(24) and her boyfriend(25+) are both on my parents policy, he just totalled one of their cars, no problem getting the insurance money.

did he total a car that HIS name was under, or just a car under the policy?


I've always questioned this but the way my insurance agent told me, if the whole policy has 4 cars, A B C D, my name is solely on car D, cheap POS civic basic coverage. And my father's bugetti ( car A) with full coverage and all the bells and whistles. If i drive and total car A, everything is covered. Get money and etc, only damage really is my rates for car D will go up due to the accident. But car B and C will not have anything happen. How accurate is this statement. Thats what my agent told me, but an agent's job is to sell sell sell. The claims guy is the deny deny deny guy.

 

[alkemyst]

The way they do it is the most risky driver is rated on the most risky car and so forth.

 

[MJinZ]

Lul?

I guess you have never owned a car.

You can stay on your parents insurance forever if they always own the car (read: title).

 

[Gibson486]

Lul?

I guess you have never owned a car.

You can stay on your parents insurance forever if they always own the car (read: title).

yup, the car just has to be under their name and garaged at their location.

You can take the car anywhere you want, but you run into trouble when you want a permit parking sticker (needs to be under your name at your address in most cities). You also run into trouble when the insurance company find out that the car is not really garaged at your parent's address (IE, they will refuse to cover the car when an accident happens). In this case, however, you simply state that you were visiting a friend.

 

[RockinZ28]

From what I remember when I was a teen, you tell the insurance company which car will be your primary, and they price you on that, but you're still covered under other vehicles on the policy.

So my insurance was $50 a month at 17 on my cheap eco car, but I was still allowed to drive my dads 500hp car. Which I did when I was 21, and totalled that rapidly . Insurance paid up, but the insurance price would have skyrocketed, so I was removed from their plan entirely.

 

[Evadman]

lol, my parents are on my plan. Saves them about $300 a year.

 

[halik]

My family is all on a group plan from AAA, even though the cars' titles are in our respective names.

I paid around 70/mo for full coverage on the A6 and about 86 a mo on the S4.

 

[alkemyst]

yup, the car just has to be under their name and garaged at their location.

You can take the car anywhere you want, but you run into trouble when you want a permit parking sticker (needs to be under your name at your address in most cities). You also run into trouble when the insurance company find out that the car is not really garaged at your parent's address (IE, they will refuse to cover the car when an accident happens). In this case, however, you simply state that you were visiting a friend.

yay! Insurance fraud ftw!

 

[Throckmorton]

I'm on my dad's plan and I'm 26. He pays for that and I pay for their cable/internet bill. They know I live in a different state and the vehicle is in my name.

 

[PhoKingGuy]

yay! Insurance fraud ftw!

If you think thats bad you should see some of the ridiculous crap my asian friends pull with their agents of same nationality.

 

[vshah]

i'm on my parents plan, but the car is in their name. there's only 1 car on the plan and all three of us are listed as drivers. ~400 every 6 months.

 

[CraigRT]

yay! Insurance fraud ftw!

Hah, as if you wouldn't do it.. I love how insurance companies rape me for years only to raise my rate if i make a small claim which may not even by my fault.

Screw them, honestly.

 

[MrWizzard]

Hah, as if you wouldn't do it.. I love how insurance companies rape me for years only to raise my rate if i make a small claim which may not even by my fault.

Screw them, honestly.

Yesss let your hatred flow freely.

But seriously. Everything insurance related here should be taken lightly as each state and each company has different rules… so just because someone says it’s true does not mean it’s true unless you live in the same state and have the same company and he told the truth in the 1st place and was not confused. AND he has a honest Agent.... :-/

Oh and OP I would NOT insure a Bentley with your standard company like state farm if I were you. lol

 

[CraigRT]

Yesss let your hatred flow freely.

But seriously. Everything insurance related here should be taken lightly as each state and each company has different rules… so just because someone says it’s true does not mean it’s true unless you live in the same state and have the same company and he told the truth in the 1st place and was not confused. AND he has a honest Agent.... :-/

Oh and OP I would NOT insure a Bentley with your standard company like state farm if I were you. lol

Are you possibly stating you don't hate insurance companies?
Yeah, there's so much to like...

 

[Jumpem]

Really? We all paid for our own insurance policies starting from sixteen. Cars too.

 

[alkemyst]

Hah, as if you wouldn't do it.. I love how insurance companies rape me for years only to raise my rate if i make a small claim which may not even by my fault.

Screw them, honestly.

well that's sort of the reason rates are the way they are...everyone looks at insurance as a free meal ticket.

Oh no got bumped at 5mph...WHIPLASH!

 

[CraigRT]

well that's sort of the reason rates are the way they are...everyone looks at insurance as a free meal ticket.

Oh no got bumped at 5mph...WHIPLASH!

No, that's retarded.. I know I know its no different cause it's still a lie.. But there is a difference for pretending to be hurt, and simply pretending to live at home to save on your rates. If you make no claim at all while you are either living at home or not, why feel bad? They are out nothing.

I wouldn't pretend to be hurt to get a settlement, that is a bullshit thing to do.

 

[T2urtle]

If you think thats bad you should see some of the ridiculous crap my asian friends pull with their agents of same nationality.

I'm asian =)

Lul?

I guess you have never owned a car.

You can stay on your parents insurance forever if they always own the car (read: title).

I've owned 2 and about a year away from paying off my G35. but always put it in my fathers name, he told me its easier that way. It doesn't matter what the paper exactly says, well as long as you have a good relationship with your parents and they dont screw you.


I'm looking at this 2 years from now i do plan to move out into a house or apartment, pending my money and the market. It will be in the same state, most likely in a safe distance away from home but not too far away to help out. If i keep my G35, it will be paid off and i'll obviously be driving that.

I dont know the EXACT details on statefarm in IL, but like i said the agent that i dealt with stated if the car is on the policy and i'm on the policy its covered for what my parents are paying for the car, so if i'm on a POS 94 corolla with just liability and the G35 has a full coverage $0 deduct. and i total the g35, it SHOULD be covered.

If they look into it and find out i live on my own, i could aways say the car is garaged at the parents house and i drive my POS corolla to their house to drive the G. If its stolen at my house then my father was visiting my place, which is fairly legit reason.

I'm just concerned if there was like age limit, i'll get quotes when it comes time to it and re-think it. But right now its sub $400 with the parents policy and $1700 with me @ 24, I've been told a 10% drop might happen when i hit 25. I feel i gotta take advantage of what i have right available to me right now. Also i do think $50/month full coverage on a decent car is about the lowest you can get..... father is 54 with a fairly CLEAN record, last NON-fault accident he had was 7+ years ago. Since then no issues.