They own their own home and I was told by their agent that my liability on my car has to match theirs for their protection. Note my car is very old and I just want the cheapest insurance I can get.
Yes, it is in my name.
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{ 4 comments… read them below or add one }
Bull, you can have whatever coverage on your car you want as long as the car is in your name.
Are you renting a room, officially? If so, then that is crap. Based on that, everybody in an apartment block would have to have the same liability coverages for their vehicle.
But, on the other hand, age of a vehicle has nothing to do with liability. An old beater can kill and maim just as well as a new car, maybe even better. Everybody should, and this is common sense, carry as much liability coverage as they can afford. I won’t even get behind the wheel of a vehicle without minimum $1,000,000 liability coverage. Think of it this way. You lose control of your car, bounce off a motor home into a 7-Eleven, hitting the rack of propane tanks, and store and motor home burn totally. Guess who pays for it? You do, if you don’t have enough insurance. We had a case here where a parked car burst into flames,. they ignited a balcony, and burned down a small apartment block. The liability insurance on the vehicle is called upon to pay for all the damages, over $700,000.
You do not have to match your insurance to his if you are a legal renter, but you do have to protect your financial well-being.
That just doesn’t make any sense. We have Farmers (not State Farm), and as long as you have the required insurance coverage the state requires, then you are OK. If someone who is not insured, borrows one of our vehicles, they are covered since the vehicle they are driving has insurance. When are vehicles were brand new ( still making payments on them), we had to have different type of insurance because of what the dealer said we needed. You really need to check on another insurance company if they are telling you this. Maybe they just want more money for something that doesn’t need the insurance they are offering. Check it out.
carquotes.fateback.com – try this one. I have their car insurance and, as I know, they can provide such a service.