Auto Insurance Assistance
I live in California and need some guidance regarding my auto insurance. My dad, who is 85 years old, hasn’t driven in the past three years. He holds the insurance policies for both my parents’ car and my car. Can I remove him from both policies? My parents and I live in the same apartment. Will this lead to a reduction in our insurance costs? Would I need to get new policies since he is currently listed as the policyholder for both? Thank you for your help!
You can absolutely remove your dad from both auto insurance policies if he is no longer driving and you are the primary driver of the vehicles. Here are some points to consider:
Removing Your Dad as Policyholder: Since your dad hasn’t driven in the past three years, and if he doesn’t plan to drive in the future, you can contact your insurance company to remove him as the policyholder. This may require you to take over the policies in your name.
Potential Impact on Premiums: Removing him could potentially lower your premiums, especially if he is considered a higher-risk driver due to age. However, this greatly depends on your driving record and insurance history. Be sure to ask your insurer for an estimate of any changes in your premium.
Getting a New Policy: You may not necessarily need to get a new policy; it often depends on the insurance company’s policies and guidelines. You can either modify the existing policies or start new ones in your name for both cars. It’s best to speak directly with your insurer about your options.
Discussing with Your Insurer: Make sure to provide all the necessary information to your insurance company. They can guide you on the best course of action and provide the best rates based on your current situation.
Living Arrangements: Since you and your parents live in the same apartment, be sure to ask if there are any discounts for being a multi-vehicle household.
Make sure to review all details with your insurance provider to understand any implications fully. Good luck!