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| Insuring a car you don't own |
Driving a car that belongs to Mom and Dad? How do you insure it?
The question is a common one, and the situation is tricky, says CarInsurance.com consumer analyst Penny Gusner.
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If you are living with your parents, you simply could be a listed driver on their policy. Usually a car insurance policy covers all the licensed drivers in the household who have permission to drive the car.
"It gets difficult when the driver of the car isn't on the title and doesn't live with the title holder," Gusner observes.
insurance for a car you don't ownWhat you need in these cases is "insurable interest." Having insurable interest in property, such as a car, means you would suffer a financial loss if it were damaged or destroyed.
