by md320main » Tue Jan 22, 2008 12:02 am
We live in CT and are trying to find out if we will have any personal liability for our 19 yr. old daughter, who has her own car and own auto insurance. She lives away at college but is still a dependent on our income taxes.
Posted: Tue Jan 22, 2008 02:43 am Post Subject:
Welcome to the forums, you have come to the right spot, there are a lot of experts on here and one will be along to help you out shortly, hang tight, it won't take long to get the answers you are seeking.
You have a duplicate post that will more than likely be deleted, you must have pushed the button twice, it is exactly the same.
Posted: Tue Jan 22, 2008 06:48 am Post Subject:
Hey, what do you mean by personal liability? If your daughter is still dependent on your income, you are morally bound to ensure her wellbeing, if not legally. Please, explain more about the term so that we can give you a more specific answer.
Posted: Tue Jan 22, 2008 07:03 am Post Subject:
Please explain the coverage type that she has on her car.
If you are concerned that her policy limit may fall short at the time of need, you can request her to increase the limits. It pays off to maintain the policy limit over and above the state minimum as it'll also ensure your peace of mind along with eliminating the chances of being sued.
Posted: Tue Jan 22, 2008 07:09 am Post Subject: some assumtions
We live in CT and are trying to find out if we will have any personal liability for our 19 yr. old daughter, who has her own car and own auto insurance.
Well, I have to take it in a way that you guys are searching for your daughter's Liability insurance. So, I'd suppose that she either has the PIP or the UMPD/UMPI in place. May be she doesn't have any comprehensive cover which is why you're worried about her (collision&comprehensive would have covered her irrespective of the fact whether she is at-fault or not). Under such circumstances, if she has a Liability coverage then it would cover her expenses, in case she turns out to be the party at-fault!
Regards,
KNewman
Posted: Tue Jan 22, 2008 12:59 pm Post Subject:
Good morning md320main and welcome...
If I am understanding your question (please correct me if I'm wrong) you are wondering if daughter who is 19 and away at school although still a dependent as far as the IRS is concerned gets herself into some sort of trouble with her vehicle (God forbid) that would exceed her policy limits could mom and dad and their assets come into play? If that is correct then here is my answer....You say that
who has her own car and own auto insurance.
Does that mean that she is the 'sole' owner of the vehicle...this can be VERY VERY IMPORTANT...In my state (and most are this way) the owners of the VEHICLE (not the ins policy) can also be held responsible for some claims...for this reason our names were NEVER on any vehicle title that our children had...We co-signed their first notes, but the only thing on the titles was T.O.D. to us...This (in our state) obsolved us (once they were 18 years old) of any responsiblity....Make sure that you all are not on her title...also make sure the girl is carrying enough liabililty coverage (limits) the states only require min...that are nearly worthless..let me see your state requires,In Connecticut it is state-mandated that all vehicles carry at least liability insurance. The minimal levels are $20,000 for body injury, with a $40,000 total for one collision or accident and $10,000 for property damage
which translates to 20/40 BI (if you injury someone) and 10k for the damage to property...these are way too low...you can't hardly buy a decent used car for 10k....so just make sure she has adequte limits to protect herself (I'd say a min of 100/300 bi, and 50-100k pd)...and that her policy stays current (bill paid :shock: ) and all should be fine, re: you being pulled in, doesn't appear that CT requires UMBI or UMPD, UIM...but these weren't your questions...sorry...You might was to check your state statutes re: making sure that her student status doesn't change any of this, but I doubt it would....she can be tried as an adult .....Let us know if we can be of further assistance, of if we missed the question all together :roll:
Posted: Tue Jan 22, 2008 01:21 pm Post Subject:
Thanks to everyone for their posts/replies. The title to our daughter's car is in her name only, as is the vehicle insurance policy. She has 100/300 bi, and 50 pd. I do believe CT requires uinsured/underinsured, which she also has. She also has collision/comprehension as it is a later model car. Our concern (GOD FORBID) is that she is found to be fault for an accident, including DUI -- which we hope not but we all know that teens don't always make the right choices -- again, our concern is that if the accident exceeds her policy limits, that because she is considered our "dependent" as far as the IRS is concerned and her student status, that we could be sued and lose everything that we own and have worked so hard for. We have received conflicting opinions from insurance agents and from attorneys. That's why we are so concerned.
Posted: Tue Jan 22, 2008 01:51 pm Post Subject:
What did the attorneys say? I know some plantiff attorneys (well all really) will 'attempt' to bring in any and all parties including your great great aunt lucy's third husbands second cousins...but doesn't mean it will fly...
Posted: Tue Jan 22, 2008 02:15 pm Post Subject:
The attorneys were actually the ones who said that we could not be brought into this -- the insurance agents said it didn't matter if she had her own vehicle/insurance or not -- that we would be held liable for her.
Posted: Tue Jan 22, 2008 02:23 pm Post Subject:
Yeah, I'd certainly believe the attorney over an agent...also you have to remember that agents (as a rule) sell the product, adjusters and attorneys handle the claims and aftermath of the accidents....I (personally) think that the agent was incorrect....following the agents logic, my 29 and 26 year old kids trouble could be mine too...(wow that's a scary thought!)....I think you're fine....
Just a side note, to maintain my own sanity....when my kids got to this age, one in college one working....I paid their premiums then they paid me back every month...that way I could sleep nights (with THAT worry resolved), I always worried (you know kids) that the first bill they wouldn't pay when straped for cash would be their insurance bill! And what a life altering mistake that could be, could actually ruin them financially for the rest of their lives for a foolish inmature mistake....just as one parent to another that's what I did (again for my OWN sanity! lol)...
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