Getting your driver’s license is a big deal.
For the new driver it is an exhilarating, exciting passage of time.
For the parents of the new driver, it can also be an exhilarating, exciting … but scary passage of time.
Some scary statistics:
- 43% of first year drivers and 37% of second year drivers get into accidents.
- The average driver’s education student in MA only gets 6 hours of professional training. Plumbers and electricians often apprentice for 8,000 hours to get a license to practice their job!
- Driving accidents are the #1 killer of teens. The rest of the top ten killers (#2 -#10) combined don’t kill as many teens.
- 93% of all teen accidents are caused by “driver error.” The majority of fatal teen accidents do not involve speeding or alcohol.
When parents put the kids on their policy and let them drive their vehicles they are also loaning them their policy’s liability limits.
If these limits become exhausted, parents — the owners of the vehicle — can get sued.
For this reason, in order to best protect assets, parents in Massachusetts should consider registering and insuring a vehicle in their child’s name.
In Massachusetts parents are provided 100% insulation from lawsuits arising from bodily injury or property damage claims.
Mass. MGL Chapter 231, section 85A: “If a car is registered to the child and the child gets into an accident causing personal injury and/or property damage, there is no reponsibility on the parent. It does not make any difference who bought the car or who pays for the insurance, or how old the child is so long as we are talking about negligence.”
On this basis it might make sense for parents to consider insuring a vehicle in their child’s name.
Call or click us at www.MassAutoQuote.com for your free, no-obligation insurance review and coverage choices.
You’ll be glad you did.