What do you do when your 18 year old wants to drive? How do you make sure that his reckless driving does not effect you? I have a solution.
Get your 18 year old his/her own car. I know it sounds crazy. But there is some rationale behind it.
First, if they have their own car, they get their own insurance. Then, if they get a ticket or an accident, your rates do not go up – but their rates do. This could end up saving you money.
Second, if they have their own car, and they are in an accident, you will be shielded from liability. In other words, you will not get sued because you are not the driver or the owner. Only your child will get sued. I kow that sounds bad, but it may make your life easier.
Third, your child can get different insurance limits than you can. For example, if your limits are $250,000/$500,000 and your child is on your policy, you will pay for them to be rated on the most expensive vehicle at the same limits. If they have their own policy, they will be rated on their own vehicle, and they can get the lower limits that they need.
Now, do not take this and run out and buy a Mustang Convertible for your kid. But, do consider an older, safer car for your child to drive. There are many positives for both of you.