by Guest » Wed Apr 08, 2009 02:53 pm
Hello everyone!
This is my first post and of what I have seen, this is a very informative forum. My question is more like a verification really. My sister-in-law just learned that her car will be thousands to fix (more than the car is worth.) She is on Dave Ramsey (yikes) and does not want to get a loan (thanks Dave.) I have 2 vehicles and she asks to "borrow" 1 of them. She will not have insurance anymore but says that she will pay mine..
Its my understanding that if she borrows my car and if she gets in an accident, I'M SCREWED, right? Is there any trick of adding her to my insurance temporarily? She lives in Chicago and I live in Tampa Bay. What are the best options to help my sis-in-law? Thanks!
This is my first post and of what I have seen, this is a very informative forum. My question is more like a verification really. My sister-in-law just learned that her car will be thousands to fix (more than the car is worth.) She is on Dave Ramsey (yikes) and does not want to get a loan (thanks Dave.) I have 2 vehicles and she asks to "borrow" 1 of them. She will not have insurance anymore but says that she will pay mine..
Its my understanding that if she borrows my car and if she gets in an accident, I'M SCREWED, right? Is there any trick of adding her to my insurance temporarily? She lives in Chicago and I live in Tampa Bay. What are the best options to help my sis-in-law? Thanks!
Posted: Wed Apr 08, 2009 03:25 pm Post Subject:
I'm hoping that she is borrowing you car in order to save a few more dollars and pay cash for a car of her own?
I don't know what the state laws are in IL. In FL you as the owner would be held liable just as the driver would be (its probably the same in IL). Regardless, if she is going to be driving your vehicle then she needs to be listed on your insurance policy. This will cost more and I see no reason why she should not pay the difference. Also, you may want to revisit your liability limits based on what type of driver she is.
Posted: Wed Apr 08, 2009 05:50 pm Post Subject:
If your sister in law wants to borrow your car you need to get new
Auto insurance policy & make Co-Signer to your sister in law. then she will responsible for any damage.
Buckisaa, I respectfully disagree. As long as Ben owns the car, he is legally responsible for the damages and the insurance should remain in his name. He has an insurable in the car; his sister does not.
Tcope is correct. Ben's sister should be listed as a driver on his policy. This solves the problem, and the sister will be able to drive without fear of having a claim denied. It might affect the rate, however, depending on the sister's driving record, age, and other factors.
Posted: Thu Apr 09, 2009 05:24 am Post Subject:
hey ben...tCope Nd Christy are very correct.....if ur sis had an accident.....then ur screwed man......the only solution is add her to ur insurane driver list.......
Posted: Thu Apr 09, 2009 06:27 am Post Subject:
Yes Ben
You better put your sis-in-law on your policy if she is going to be driving your car. The extra dollars that you need to pay your insurance company might a well be taken from her since it is for her interest that you are making such an arrangement.
Posted: Thu Apr 09, 2009 06:30 am Post Subject:
Its my understanding that if she borrows my car and if she gets in an accident, I'M SCREWED, right?
Ben, if your sis-in-law gets into an accident while driving your car and is listed in your policy, your insurance will have to pay. However, if you can come to financial terms with her where you can convince her to share in the insurance costs with you, you can have a little less pressure on you. There no legal way to do this. This can only be an understanding between you and her.
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