if my father cosigns a loan for me, can the car be under his insurance?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Apr 9, 2012

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Insurance Question from Burlington, CT

Asked on 04/09/2012

if my father cosigns a loan for me, can the car be under his insurance? NULL

Answer given on April 10, 2012

Auto insurance should be written in the name of the registered owner. If your father co-signed for the loan he may or may not be on the title. Each lender does this differently. Ask your lender if your father is on the title. If so he can do the insurance, but you should put your name on the insurance too. This provides you with additional protection and you have insurance if you are driving another car.By putting the car in your father’s name you will probably get more discounts for the cost of the insurance including a loyalty discount, multi car discount and possibly a multi line discount. If the insurance is in your name, you may not get all of these discounts. Talk to your insurance agent to determine the savings for having the insurance in your father’s name and if they have a problem with it. Again, if your father is on title, there should be no problem with putting it on his insurance.

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