My liability when another drives my car

[leopard]

What is the name of your state? Arizona

Hi,

I have 3 kids who are all now legally adults (18+). We have purchased a car for each of them to drive and keep as their own. Currently I and/or my wife are listed as the owner of the car since the kids were younger than 18 when we bought it. Except for my daughter that is -- both she and I are listed as joint owners on the title.

I would like to simply title the car over to each of them and remove myself from ownership. However, in talking to the insurance guy, I found that would raise their insurance a lot. So I have not done that yet.

My question is whether I have any extra legal liabilities by keeping our names on the titles? For example, if one of my kids is driving their car and is at fault in a traffic accident, could the other driver come after me or my assets? Am I safer legally if I transfer ownership of the cars to the kids?

Thanks in advance

 

[moburkes]

You do not have any EXTRA liability, but you are simply liable as the owner. This question has been asked and asked several times. Please use search. Thanks!

edit: Raising your liability coverage is a good thing to do.