How should my mom and I set up our car insurance to save money with AAA?

My mom has a really good driving record for decades now. She drives a 2005 Matrix and I drive a 2011 Lexus GS350. My mom only works on Saturdays while I can be scheduled 40 to 60 hours a week. I drive on average about 400 miles a week. I owe $2k still for my car and I pay $200 monthly for full coverage. How can I save money? I'm thinking my mom puts the Lexus under her name as secondary car and she updates insurance on more mileage towards the Matrix annually so I can drive it while saving A LOT of money on insurance. What is the best scenario?

Update:

*I too now have AAA insurance and they told me since we live under same household I can drive her car and vice versa.  But if I do get in a bad accident with her car, she can get sued for the house unless we increase coverage to like 1 million. I'm thinking have Lexus under her name so it will be a lot cheaper that way and for her to just increase coverage by a lot.  Currently, we both have each of our cars covered for like $150k/300k

6 Answers

Relevance
  • Anonymous
    1 month ago

    You owe how much money on a 9 year old car?

    The best situation is to carry AT LEAST $500,000 on each car.

    In extreme cases in some States if there is an accident a claim can be filed against ALL insurance policies in the house.  I hire investigators for that purpose all the time!

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    If you're driving with less than $2M in Liability, you're under-insured.  If you have less than $1M, you're an idiot.  And here's what you need to know about who gets sued...

    The owner, not the driver, is legally responsible for their vehicle.  That includes any loss or damage their vehicle causes.  If the vehicle is in your name, you're legally responsible if it crashes.  If it's in Mom's name, she's legally responsible.  

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    You have her drive you to and from work so that you don't have to drive personally as much.

    • Commenter avatarLogin to reply the answers
  • Anonymous
    1 month ago

    Your DUI is the cause of your high insurance premiums and financing a car.

    Source(s): Your previous profile questions
    • Don1 month agoReport

      My DUI is no longer on my record. In California, after 10 years it doesn't affect your insurance

    • Commenter avatarLogin to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    1 month ago

    If you're on her policy, you're already rated to drive either car.  Changing actual ownership/registration of the vehicles shouldn't affect that.

    You could shop around for cheaper insurance, but cheaper isn't usually better.  

    • Commenter avatarLogin to reply the answers
  • May
    Lv 6
    1 month ago

    You are making this way too complicated.  It is likely because you know too little about automobile insurance.

    To get a fair priced policy, simply get as many quotes for your car as you can stand.  Buy as much coverage as you can afford and as much as you need to protect your assets.

    Of course you may drive Mom's insured car and vice versa.  The fact is that you may occasionally drive anyone's insured car with their permission and have a valid license to be covered under their policy.

    Why don't you sit down with a trusted local insurance agent and get a 2 minute "Insurance 101" lesson so that you better understand insurance.

    It is sad that so many people have so little knowledge about automobile insurance.  Insurance 101 should be required to get a drivers license

    • Don1 month agoReport

      I did shop around with 6 major insurance companies.  AAA was one of the cheaper ones and yes I know I can drive her car since we both have AAA and live under same roof

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.