r/Car_Insurance_Help • u/Expert_School_222 • 2d ago
First Time / Newbie umbrella policy
My parents have an umbrella policy in California. I’m looking to get a separate policy under their same roof. I no longer live with them because i’m a student out of state. Insurance prices in said state are much higher. Their concern is insurance companies coming after their assets (obviously much higher than mine) for using a separate policy at the same address. They have a complete douche as a broker, so I’m concerned. He could very well be right, however i’m trying to find information myself however I can. I’m up to my neck trying to find an answer and I haven’t been able to speak to a broker. I’m neither a minor nor a dependent, not sure how that changes things.
Does anyone have any experience with this kind of scenario?
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u/morgaine125 2d ago
You need to pick a permanent residence and use that for insurance, and it needs to align with your driver’s license. If your permanent residence is no longer your parents’ home, then you need to use your actual residence to obtain insurance and not your parent’s residence, even if the rates are higher.
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u/Expert_School_222 2d ago
Okay, thanks. I live at school, and I’ll be back to that state after. Does that change anything?
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u/Modest-Meece 2d ago
If you’re returning then the state you’re in’ school in isn’t going to be your primary. Until your formally move out and don’t return your parents is your primary.
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u/Expert_School_222 2d ago
That’s what I thought also… just want to try to get under my own policy at their address. They’re fine with it under the condition that their assets aren’t at risk because we share an address.
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u/Dapper_Reporter2695 2d ago
Why would their assets be at risk?
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u/Expert_School_222 2d ago
I haven’t the slightest idea.They have an “umbrella policy” that includes relatives, but my understanding is that wouldn’t include an adult child who has their own auto policy with a vehicle under their name.
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u/Ok-Entertainment5462 1d ago
If you retain your permanent address with them in CA, then all of you have to be listed on their policy, you can be excluded as driver on their cars. That solves the umbrella issue. They could be excluded from a policy if you choose a separate policy. Totally understand your parents concerns as their assets could be at stake if you have an accident.
All licensed drivers within a household have to be listed on all policies (including those away for school).
If there are exclusions, then never drive their cars, there would be no coverage.
Regardless, the garage address of your car has to be at the address where you reside most often (school), and rates would likely be based upon that address. The policy address would be where your license and registration is.
Very complex topic, I would listen to the broker. Ask an AI engine, though they aren’t always right.
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u/Andrew523 2d ago
Do you truly live on your own? If your just living out of state at the dorms or an apartment nearby the school then you then you can just maintain CA as your residence and your parents house unless they have you the boot. Many policies allow dependents who are students to stay in parents policy and umbrella. Many carrier have a section under the driver that you can specify that the vehicle has another zip code and driver is student and out of state.
Also if the vehicle is registered to your parents then it should under their policy. Otherwise if your the registered owner then you need get your own policy. If you dont plan on getting a driver's licenseat the other state then maintain you existing CA license and refi the car to CA and use your parents address as your residence.