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Melinda Said:

Will my insurance be through the roof?

We Answered:

You should be able to find a quote much better than 650. You may want to try a website that compares multiple companies at once to get you the best price. I am paying less than ½ after I did.

Go to: http://www.insureme.com/landing.aspx?Ref…

Take care,
Casey

Lawrence Said:

Should we buy or rent this upcoming year???

We Answered:

The answer to that will vary greatly based on where on the face of the planet you live. If you are in a declining market (like mine is going to be for a long time to come) you should rent and continue to save for your downpayment. If you are in a flat or rising market now might be the time to buy.

$100K is a huge income in my part of the country, but in other parts it is not so much.

You are wise to know that you can be strapped badly by having a mortgage you can not afford.

Maria Said:

Name to put on car title Help?

We Answered:

Find your local agent from Yellow page,and make a call to them,they should have good suggestions for you.

Gladys Said:

I'm studying abroad in China next semester and want to know if I can add my friend to my car insurance?

We Answered:

Well, it's true - you CAN add your friend as a listed driver, and if you're going to let them drive the car, you HAVE to, for them to be covered, since now they're a regular user.

Your agent is right - the OWNER of the policy can be held fully responsible for damages, as well as the driver - which is why you want to make sure you have adequate limits. Not having any idea how MUCH insurance you have, if you keep high (six figure) limits of coverage, it seriously decreases the chances of the policy limits being reached.

Anything your friend signs like that, won't stop the OTHER party from suing the owner of the car - you. And it won't hold up in court, if you try to enforce it.

If you give your friend the car, you have no guarantee of getting it back after you get back - it's their car, now. If they die, their next of kin gets the car.

Your other option, is to put the car in storage for a year. If it were me, that's probably what I'd do - thinking that if the friend totals the car, or disappears with it, and you can't find him when you get back, you're flat out, out a car.

Theresa Said:

Multiple auro insurance for vehicles in different states?

We Answered:

If she is in California, and the vehicle is living with her, it has to be registered and insured to her address. 2 years is not considered temporary, except in the case of military postings. She does not have to be on title. You can sign a "right-of-possession agreement", or an "agreement between parties". Call the DMV to see which of the documents they will accept. "Agreement between parties" is more common for private vehicles. It is like a lease agreement with no money, and allows her all priviledges with the vehicle except the right to sell. "Right of possession" is used more with vehicles owned by a business that are given to one employee for personal use. Both documents, however, allow you to retain ownership, and her to register and insure. As an insurance broker and registrations agent in Manitoba, I only used the right of possession document once in 10 years, but the agreement between parties was used on a regular basis.

The person that said you have to be on title to register is not quite right. If you lease a vehicle, you have no ownership, therefor you are not on title, but millions of people still manage to register leased vehicles.