Auto insurance dilemma for a minor

[jyoutz]

A minor is only allowed to work xx hours. Have to be an adult to have a vehicle titled in your name here. ''Land of the free'' ya know >> LOL

A minor isn’t free until the age of adulthood.

 

[kenmac]

A minor isn’t free until the age of adulthood.

It's my understanding , age of majority is different in every state ? its 19 here

 

[jyoutz]

It's my understanding , age of majority is different in every state ?

I’m not sure about this

 

[kenmac]

I’m not sure about this

19 in Alabama, Your state may differ IDK

 

[jyoutz]

19 in Alabama, Your state may differ IDK

18 in mine, but 21 to buy alcohol

 

[kenmac]

In either case, your uninsured/underinsured motorist provision in the insurance policy should cover medical for passengers in the event that the at fault driver didn’t have sufficient insurance.

I guess that would depend on the level of coverage selected. A broken neck would cost a lot of money. Some people have low limits of uninsured/ underinsured coverage.
Here, you can waive that coverage if you want. I have seen some with only a 25K limit. That isn't going to cover very much

When my sons begin to drive, I had the highest limits I could buy, and also had a umbrella policy, because those vehicles were titled in my name and the insurance was in my name

 

[kenmac]

18 in mine, but 21 to buy alcohol

21 here to buy alcohol and tobacco products too !

 

[paulsharvey]

For the IRS your dependent deduction drops at 17. You can't buy tobacco or alcohol till 21, 18 you are an adult on most things, but health insurance (as well as parents counting against college aid) is what 26. Most states you can get married well below 18, with permission (and or other special circumstances), and at that point, from a financial aid standing, they are independent.

It's kinda screwy, pick a dang number, if it's 18, it should 18 for all aspects, if it's 19/20/21, make that the number...

My oldest is going to be 19 here in March, and the bank still says he can't have a full fledged adult account till 24? He's grown, and there should be no need to have an affiliate adult on his bank account

 

[jyoutz]

I guess that would depend on the level of coverage selected. A broken neck would cost a lot of money. Some people have low limits of uninsured/ underinsured coverage.
Here, you can waive that coverage if you want. I have seen some with only a 25K limit. That isn't going to cover very much

When my sons begin to drive, I had the highest limits I could buy, and also had a umbrella policy, because those vehicles were titled in my name and the insurance was in my name

Smart decision.

 

[kenmac]

Smart decision.

Only makes sense...I had (and still do) have too much to lose without it Hit someone, and total an expensive car and or seriously injure someone, and if you don't have enough coverage, you're SOL !

 

[kenmac]

One thing I forgot. Here, a minor isn't allowed to enter into a legal contract either.. a loan for a vehicle, or any loan from a bank, etc,. where there is a legal contract involved

 

[ultrarunner]

Odd… my brother at 16 had a visa credit card in his name alone with no tie to parents or any other adult.

The branch manager had to sign off on it with a $400 limit and it was not a debit card… he still banks with the same today…

The manager said he was sticking his neck out as my brother being a minor could refuse to pay and the bank would be out of luck… brother was employed by the park district as a lifeguard and like me had enough savings from earnings to have a modest CD…

As it was explained to me there is no prohibition on contracting with a minor but as a minor the contract becomes unenforceable at the minors option unless the minor is emancipated such as by marriage or it is for the necessities of life such as food, shelter and clothing.

At 16 I drove to Canada from California to visit friends and I was able to rent hotel rooms and had no issue driving into Canada being a minor… and I used my credit card for the Best Westerns coming and going.

Opened my Bank of America checking and savings at 14 without any parent… I was coming in every Friday to cash my pay check and the branch manager said anyone holding down a steady job was welcome in his branch… I felt 10 feet tall being called mister my the manager dressed in coat and tie and also by my favorite teller… wrote checks at 14 and never stopped and still have that B of A account.

 

[jyoutz]

For the IRS your dependent deduction drops at 17. You can't buy tobacco or alcohol till 21, 18 you are an adult on most things, but health insurance (as well as parents counting against college aid) is what 26. Most states you can get married well below 18, with permission (and or other special circumstances), and at that point, from a financial aid standing, they are independent.

It's kinda screwy, pick a dang number, if it's 18, it should 18 for all aspects, if it's 19/20/21, make that the number...

My oldest is going to be 19 here in March, and the bank still says he can't have a full fledged adult account till 24? He's grown, and there should be no need to have an affiliate adult on his bank account

Agree completely. There should be one legal age for adulthood in all matters nationwide.

 

[2manyrocks]

You need to check with local family law attorney for all ramifications, but emancipation might be an option to allow the child to enter into contracts. But the ins co will have its own requirements. No point in emancipation if ins co still won’t insure for other reasons.

 

[alexpops]

Is the "legal guardian/custodial parent" the same parent that the kid lives with? Seems the insurance company may be "shortcutting" language by saying "the parent they live with" rather than referencing a legal guardian or custodial parent. If one parent is a drunk and the other lives on an island, should be a relatively simple matter to get custody for the island parent and have the kid list that as primary address. As far as I know, a custodial parent/legal guardian can make whatever living arrangements are most appropriate for the child to attend school (otherwise No 16-year old in a boarding school could drive, & plenty do)