ncbill
Thinks s/he gets paid by the post
When your kids reach 18. Title the car they drive in their name and have them insure it well. Not on your policy.
Then, take out an umbrella policy to cover your net worth and sleep well.
I can't get over the trouble folks on this forum spend about a couple hundred bucks over an umbrella policy. You're all loaded or you're not worried about it in the first place. Get the kids on their own and get a big umbrella for a couple hundred bucks.....
I doubt that works as liability avoidance unless your 18 year old really is fully independent.
Wouldn't have worked for us...all the kids were claimed as dependents until after they finished college.
Fortunately, on my umbrella policy it's only a flat fee for any number of drivers under age 25.
Though for auto here the state only permits higher premiums for the first three years for any new driver, regardless of what age they started driving.
So we had all the kids licensed at age 16, then once they turned 19 we were paying regular rates for them.
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