Son on parents auto insurance policy

[mo99]

What is the name of your state?PA

My son is 19 years old,a college student,and living at home.He is currently written on my car insurance policy which saves him a considerable amount of money opposed to having his own policy.In the event of a car accident when he is driving,am I at all responsible for any liability?Could I be sued or since he is over 18 am I relieved of that responsibility.Thanks.

 

[stephenk]

if he is driving a vehicle that is registered in your name, then yes you can be liable only as the owner of the vehicle. if he is driving his own vehicle, then you have no liability.

 

[mo99]

My son recently bought a new car in which I had to co-sign on the loan.With both our names on the loan,is the car considered ours or the bank that is financing it, since they hold the title until the loan is paid? What is my liability in this scenario.Thanks.

 

[stephenk]

Are you named as a registered owner of the vehicle? are you just named on the loan documents?

If you are a registered owner of the car along with your son, then yes you can be named in a lawsuit if your son gets into an accident.