I'm lending my car; how do I protect myself from any liability?

Question

I'm going to be letting my renter use my car when I am out of the country for a year or so. Do I have to get her name onto the registration? Should I get her onto my insurance, or should she buy her own? I live in Washington State. Thanks!

Answer 1

Your insurance will not cover someone else being the principal driver of your car while you're out of the country for a year.  

An insurance company will not sell someone insurance on a vehicle that is not theirs.  

You must maintain a minimum insurance on your vehicle.  

From what you describe as your situation, your best bet is to sell them the car.  And then they would buy their own insurance.  

If you add them to title, make sure you have some legal documentation stating the vehicle is yours and will be transferred back to sole title when you return, otherwise things could get messy if they try to assume actual ownership.

Also, as long as your name is on title, you're still partially liable.  Adding them to title is not the best option.

Answer 2

The answer may vary by person.It would be a good idea to hear some of them and try to choose the best one.Here is a good one.http://car-insurance.easyideas4u.info/ca...

Answer 3

MMMm do you have to keep it? sell it now aa a car is not a growth asset (unless its a vintage), put the money in the bank and buy another car in 1 year and let your renter sort them selves out, too much potential problems I think..