Do you need to add an additional insured to your car insurance?

My mom cosigned for my car loan. Do I have to add her to my car insurance policy?

“While your car insurance company doesn’t require you to add an additional insured to your policy, you still should.
Typically, an additional insured on a policy is a cosigner or leaseholder, but it could also be a company or person.
Since your mom cosigned for your vehicle loan, she technically holds partial ownership of the vehicle. This means she would have a right or entitlement to losses if your car was totaled.
If a leaseholder or lienholder is an additional insured, your insurance pays them directly after your vehicle is totaled.
Whether you choose to add your mom to your insurance policy is up to you. However, insurance applications ask if anyone else owns the vehicle. If you aren’t honest with your insurance company, they could choose to deny a claim or cancel your policy.
Since you have a car loan, the lender likely requires full coverage auto insurance. This can get expensive, so the best plan is to shop around. Use the Jerry app to shop dozens of rates from top insurance companies and get the best price.”
Emily Maracle
Answered on Aug 19, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.

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