How should a co-owned vehicle be insured?

UPDATED: Oct 10, 2013

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How should a co-owned vehicle be insured?

Financed through dealer. – Both drivers on loan – Co-borrows ( No Co-signer)Memorandum in both names. Registration in both names. Father and Son. Currently reside in same household. Son 25 year old independent. Within 1-6 months son will be out of household. Son has bad driving record. Father good driving record and needs large liability coverage. How should the vehicle be properly/legally insured? Also to ensure liability is covered. Currently Son has named operator policy with the following. Uninsured/Underinsured $50,000 each person Motorist Bodily Injury:t $100,000 each accident.Bodily Injury

Asked on October 10, 2013 under Insurance Law, Ohio


Tricia Dwyer / Tricia Dwyer Esq & Associates PLLC

Answered 9 years ago | Contributor

Hello. I suggest you simply speak with your licensed insurance agent about your issues. Assuming you are the father, you are correct to be greatly concerned that you have full and proper insurance coverage in effect before anyone gets behind the wheel. Your personal financial picture is one of the many considerations in determining what appropriate coverage is. Some attorneys are available seven days for emergency legal needs. Many attorneys will speak initially at no charge. Then, if legal work is performed, some attorneys will provide a reduced fee for financial hardship. Some attorneys may also assist you in a limited scope manner to conserve legal costs. All the best.



Tricia Dwyer, Esq & Associates PLLC

Phone: 612-296-9666

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IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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